According to the Fed’s Quarterly Report on Household Debt and Credit, household debt increased for the 19th consecutive quarter to $13.67 trillion and was "boosted by increases in mortgage, auto and student loan balances," the report explained.
The total debt shouldered by Americans has hit another record high, rising to $13.5 trillion in the last quarter, while an unusual jump in student-loan delinquencies could provide another signal.
Some 4.7% percent of outstanding household debt was in some stage of delinquency in the 3Q, up from 4.5% previously. This was primarily due to a large increase in rising delinquencies on student loan payments (more on that below), according to the Fed.
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household debt increased for the 19th consecutive quarter to $13.67 trillion and was “boosted by increases in mortgage, auto and student loan balances,” the report explained. Serious delinquencies -.
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Total household debt hit a new record high, rising by $219 billion (1.6%) to $13.512 trillion in Q3 of 2018, according to the NY Fed’s latest household debt report, the biggest jump since 2016. It was also the 17th consecutive quarter with an increase in household debt, and the total is now $837 billion higher than the previous peak of $12.68.
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Home / Daily Dose / Delinquencies Remain Low But Household Debt Rises. Auto loan debt and credit card debt both increased over the second quarter, while student loan debt declined by $2 billion.
Rising Student Loan Debt Over the past decade, the volume and frequency of student loans have increased significantly. Nearly one in five American households had outstanding student debt in 2010, as did 40 percent of households headed by a person younger than thirty-five.
In addition, overall household. of outstanding debt – including automotive and credit card debt, as well as student loans – was in some stage of delinquency in the third quarter. The data also.
Outstanding household debt increased $117 billion from the third quarter, and the biggest drag is student debt. Here’s how it breaks out. Household debt rising as student loan delinquencies.
Total outstanding student debt for the quarter is just under $1.5 trillion, a slight decline from the first quarter – but the report said the number of households unable to repay them has increased significantly. Student loan debt is the second-highest household debt, behind only mortgage debt.