Last week, the Federal Reserve Bank of New York issued its quarterly report on U.S. household debt and credit. It found that—for the 16th straight quarter—aggregate household debt balances increased in the second quarter of 2018. Debt from mortgage loans, auto loans, and credit cards increased, while outstanding student loan debt decreased. On the bright side, aggregate delinquency rates improved, and, for student loan debt specifically, transition rates into delinquency have “fallen noticeably” over the past year. The accompanying press release is available here.
Other Lending, Debt, and Credit Issues
Total U.S. Household Debt Rises for the 16th Straight Quarter
