A new report from the New York Fed says household debt has risen to $17.29 trillion (up 1.3%) in Q3 2023, led by mortgages, credit cards and student loans. The data is from the Fed’s latest issue of the Quarterly Report on Household Debt and Credit.
Some key findings:
- Mortgage balances increased to $12.14 trillion.
- Credit card balances increased to $1.08 trillion.
- Student loan balances increased to $1.6 trillion.
- Auto loan balances increased to $1.6 trillion – continuing an upward trajectory since 2011.
Click here to read the full report at the New York Fed.
