United States Debt Balance Total

Total household debt in the US increased by $94 billion from the prior quarter to a record high of $18.04 trillion in Q4 2024, data from the Federal Reserve of New York showed. Aggregate delinquency rates ticked up 0.1 percentage point (ppt) from the previous quarter to 3.6 percent of outstanding debt in some stage of delinquency. Mortgage balances rose by $11 billion to stand at $12.61 trillion at the end of December. Transition into serious delinquency, defined as 90 or more days past due, remained stable for mortgages, but edged up for auto loans, credit cards, and HELOC balances. Auto loan balances saw an $11 billion increase to $1.66 trillion in the fourth quarter, while credit card balances increased by $45 billion from the previous quarter to reach $1.21 trillion at the end of December.

Total household debt in the US increased by $147 billion from the prior quarter to a record high of $17.94 billion in Q3 2024, data from the Federal Reserve of New York showed. Aggregate delinquency rates edged up from the previous quarter, with 3.5 percent of outstanding debt in some stage of delinquency. Mortgage balances rose by $75 billion from the previous quarter to reach $12.59 trillion at the end of September. While growth in income has outpaced debt, elevated balance levels continue to reveal stress for many households. Credit card balances increased by $24 billion to hit $1.17 trillion, and auto loan balances saw an $18 billion increase and stood at $1.64 trillion. HELOC balances increased by $7 billion to reach $387 billion, representing the tenth consecutive quarterly increase since Q1 2022.

Total consumer debt in the US rose by $109 billion, or 0.6%, from the prior quarter to a fresh high of $17.80 trillion in Q2 2024, data from the Federal Reserve of New York showed. Overall borrowing levels are now $3.7 trillion above they were at the end of 2019. Mortgage balances were up by $77 billion to $12.52 trillion in Q2, while auto loans increased by $10 billion to $1.63 trillion and overall credit card borrowing outstanding rose by $27 billion to $1.14 trillion. Credit card balances during the quarter were 5.8% above the level they stood at a year ago. Other balances, which include retail cards and other consumer loans were flat while student loan balances declined by $10 billion to $1.59 trillion. Meanwhile, overall delinquency rates remained steady at 3.2% in Q2, unchanged from Q1, and still well below the 4.7% rate seen at the end of 2019 before the pandemic crisis, indicating that borrowers are still in good shape to support the economy.