Total household debt decreased $13 billion, or 0.1%, to $18.8 trillion in the second quarter of the year, the Federal Reserve Bank of New York said today in its Quarterly Report on Household Debt and Credit.
Mortgage balances declined by $74 billion in the second quarter and totaled $13.1 trillion at the end of June, according to the New York Fed. Home equity lines of credit (HELOC) balances rose by $13 billion to $459 billion. Credit card balances rose by $21 billion to $1.26 trillion, and auto loan balances increased by $28 billion to $1.71 trillion. Student loan balances decreased by $7 billion to $1.65 trillion.
Aggregate delinquency rates improved slightly in Q2 2026, with 4.7% of outstanding debt in some stage of delinquency. Transition into early delinquency rose slightly for auto loans and mortgages but was largely steady for credit cards and “other” debts. Delinquency transitions improved slightly for HELOCs. Transition rates into serious delinquency remained mostly unchanged. Student loan delinquencies were an exception, with the continued impact of the re-reporting of defaulted student debt causing some distortions.
