US Household Debt Falls to $18.8 Trillion in Second Quarter as Mortgage Balances Drop $74 Billion

US household debt fell by $13 billion from the prior quarter to $18.8 trillion in the second quarter, according to Federal Reserve Bank of New York data cited by Walter Bloomberg on August 11.

Mortgage balances declined by $74 billion to $13.1 trillion, while credit-card debt rose by $21 billion and auto loans increased by $28 billion.

Overall delinquency rates remained broadly stable, though early-stage delinquencies on mortgages and auto loans edged higher.