A new report from the New York Fed says household debt has rose by $212 billion to reach $17.5 trillion in Q4, 2023. In addition, they’re reporting that credit card balances increased by $50 billion to $1.13 trillion over Q4, while mortgage balances rose by $112 billion to $12.25 trillion. Other balances, which include retail cards and other consumer loans, grew by $25 billion. Interestingly, auto loan balances rose by $12 billion to $1.61 trillion – maintaining an upward trajectory seen since 2011.
Click here to read the full report at the NY Fed.
