US Household Debt Falls to $18.8 Trillion in Second Quarter; Mortgage Balances Down $74 Billion
JH Kim
Summary
- According to the Federal Reserve Bank of New York, US household debt fell by $13 billion to $18.8 trillion in the second quarter.
- Mortgage balances fell by $74 billion to $13.1 trillion, while credit-card debt increased by $21 billion.
- Auto loans rose by $28 billion, and the overall delinquency rate remained stable, though early-stage delinquencies on mortgages and auto loans edged higher.
Forecast Trend Report by Period
US household debt fell by $13 billion from the prior quarter to $18.8 trillion in the second quarter, according to the Federal Reserve Bank of New York on Aug. 11.
Mortgage balances declined by $74 billion to $13.1 trillion, while credit-card debt increased by $21 billion and auto loans rose by $28 billion.
Overall delinquency rates remained broadly stable. Early-stage delinquencies on mortgages and auto loans, however, edged higher.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.