US household debt increased 0.6% in the 2nd quarter, delinquency rate unchanged = NY Federal Reserve

August 7, 2024 1:57 AM GMT+9

According to a report released by the New York Federal Reserve on the 6th, US household debt for the second quarter increased 0.6% to 17.80 trillion dollars. The delinquency rate remained stable, and it also showed that borrowers were still in a healthy state.
The debt level is 3.7 trillion dollars higher than before the COVID-19 pandemic.
The delinquency rate was 3.2%, unchanged from the previous quarter. It continues to be below 4.7% before the COVID-19 pandemic.
Mortgage balances increased by 77 billion dollars to 12.52 trillion dollars. Car loan balances increased by 10 billion dollars, and credit card balances increased by 27 billion dollars to 1.14 trillion dollars.