US total household debt fell USD 13bln to USD 18.8tln in Q2
US household debt fell slightly in Q2 due to a $74bn drop in mortgages, despite rising credit card and auto loan balances driven by high living costs and financing rates.
News detail
Aggregate delinquency rates improved slightly, with 4.7% of outstanding debt in some stage of delinquency. Transition into early delinquency ticked up for auto loans and mortgages but was largely steady for credit cards and other debts. Mortgage balances fell USD 74bln to USD 13.1tln and home equity lines of credit balances rose by USD 13bln to USD 459bln. Credit card balances rose by USD 21bln to USD 1.26tln, and auto loan balances increased by USD 28bln to USD 1.71tln.
What do investors think?
StockNow uses AI to translate and analyze information and does not guarantee its accuracy or completeness.