scorecard
  1. Home
  2. stock market
  3. CHART OF THE DAY: This Is What $11.28 Trillion Worth Of Household Debt Looks Like

CHART OF THE DAY: This Is What $11.28 Trillion Worth Of Household Debt Looks Like

Sam Ro   

CHART OF THE DAY: This Is What $11.28 Trillion Worth Of Household Debt Looks Like
Stock Market1 min read

The New York Fed just published its latest Quarterly Report On Household Debt And Credit.

"In Q3 2013 total household indebtedness increased to $11.28 trillion; 1.1% higher than the previous quarter," said the NY Fed in a press release. "Overall consumer debt remains 11 percent below the peak of $12.68 trillion in Q3 2008.

"This quarter, we observed an increase of household balances across essentially all types of debt," said NY Fed economist Donghoon Lee. "With non-housing debt consistently increasing and the factors pushing down mortgage balances waning, it appears that households have crossed a turning point in the deleveraging cycle."

Here are some of the highlights via the NY Fed:

  • Student loan balances appearing on credit reports increased $33 billion to $1.03 trillion.
  • Auto loan balances increased for the 10th straight quarter, up $31 billion to $845 billion.
  • Credit card balances increased $4 billion to $672 billion.
  • Total mortgage debt increased to $7.9 trillion, up $56 billion.
  • HELOC balances fell $5 billion to $535 billion.
  • Mortgage originations dropped slightly to $549 billion.
  • 168,000 individuals had new foreclosure notations added to their credit reports, 70 percent below the peak of 566,000 in Q2 2009.

Here's the NY Fed's chart:

household credit cotd

New York Fed

READ MORE ARTICLES ON


Advertisement

Advertisement