BY BRAD BECKETT ON NOVEMBER 15, 2023
A new report from the New York Fed says household debt has risen to $17.29 trillion (up 1.3%) in Q3 2023, led by mortgages, credit cards and student loans. The data is from the Fed’s latest issue of the Quarterly Report on Household Debt and Credit. Click here to read more.
Some key findings:
- Mortgage balances increased to $12.14 trillion.
- Credit card balances increased to $1.08 trillion.
- Student loan balances increased to $1.6 trillion.
- Auto loan balances increased to $1.6 trillion – continuing an upward trajectory since 2011.
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