HOUSEHOLD DEBT AND CREDIT REPORT (Q3 2024)
Household Debt Ticks Up to $17.94 Trillion; Delinquency Rates Remain Elevated  
Total household debt increased by $147 billion to reach $17.94 trillion, according to the latest Quarterly Report on Household Debt and Credit. Aggregate delinquency rates edged up from the previous quarter, with 3.5 percent of outstanding debt in some stage of delinquency. Mortgage balances rose by $75 billion from the previous quarter to reach $12.59 trillion at the end of September. While growth in income has outpaced debt, elevated balance levels continue to reveal stress for many households. Credit card balances increased by $24 billion to hit $1.17 trillion, and auto loan balances saw an $18 billion increase and stood at $1.64 trillion. HELOC balances increased by $7 billion to reach $387 billion, representing the tenth consecutive quarterly increase since Q1 2022.

For more details:
Report: Q3 2024
Blog: Income Growth Outpaces Household Borrowing
Press Release: Household Debt Rose Modestly; Delinquency Rates Remain Elevated
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