Household Debt Climbs to $17.69 Trillion in First Quarter; Delinquency Rates Rise Again
Total household debt rose by $184 billion to reach $17.69 trillion, according to the latest Quarterly Report on Household Debt and Credit.
Mortgage balances increased by $190 billion to $12.44 trillion, while balances on auto loans climbed $9 billion to $1.62 trillion, continuing their upward trajectory. Credit card balances declined, as is typical for the first quarter, falling by $14 billion to $1.12 trillion. Nearly 9 percent of credit card balances and 8 percent of auto loans (annualized) transitioned into delinquency.
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