A post by @DeItaone on X.
US HOUSEHOLD DEBT HITS $19.1 TRILLION AS DELINQUENCIES RISE
@DeItaone on X
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US household debt climbed $334 billion in the third quarter to a record $19.1 trillion, according to New York Fed data, with delinquencies rising alongside the balances. Mortgage debt accounted for the bulk of the increase, jumping $257 billion to $13.4 trillion, while credit card balances rose $22 billion to $1.3 trillion. The combination of record leverage and deteriorating repayment trends matters because consumer spending underpins roughly two-thirds of US economic activity, and rising delinquencies can signal mounting strain on household budgets. Watch the next quarterly report for whether delinquency rates continue to climb and whether credit card and auto loan balances keep expanding as lenders tighten standards.
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New York Fed, Walter Bloomberg