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Mortgage balances shown on consumer credit reports increased by $126 billion during the third quarter of 2023 and stood at $12.14 trillion at the end of September. Balances on home equity lines of credit (HELOC) increased by $9 billion, and now stand at $349 billion in aggregate. Credit card balances, which are now at $1.08 trillion outstanding, increased by $48 billion (4.7%). Auto loan balances increased by $13 billion, continuing the upward trajectory that has been in place since 2011, and now stand at $1.6 trillion. Other balances, which include retail cards and other consumer loans, were effectively flat, with a $2 billion increase. Student loans balances grew by $30 billion and now stand at $1.6 trillion. In total, non-housing balances grew by $93 billion.
Credit card balances, which are now at $1.08 trillion outstanding, increased by $48 billion (4.7%). Auto loan balances increased by $13 billion, continuing the upward trajectory that has been in place since 2011, and now stand at $1.6 trillion. Other balances, which include retail cards and other consumer loans, were effectively flat, with a $2 billion increase. Student loans balances grew by $30 billion and now stand at $1.6 trillion. In total, non-housing balances grew by $93 billion.
Aggregate delinquency rates were increased in the third quarter of 2023. As of September, 3.0% of outstanding debt was in some stage of delinquency, up by 0.4 percentage points from the second quarter yet 1.7 percentage points lower than the fourth quarter of 2019.