US Household Debt Shatters $18,040,000,000,000 As Delinquency Rates Surge, According To Federal Reserve Bank of New York

The total amount of household debt in the US has surged to a new record level.

In its Quarterly Report on Household Debt and Credit, the New York Fed says total household debt hit a 21-year high of $18.04 trillion at the end of Q4 2024.

That’s an increase of $93 billion on a quarter-on-quarter basis and a $3.9 trillion surge since the end of 2019.

Source: New York Fed

Mortgages make up the bulk of US household debt, standing at $13 trillion by the end of December last year.

Auto loans hover at $1.66 trillion, followed by student loans at $1.61 trillion, credit cards at $1.21 trillion and others at $550 billion.

Source: New York Fed

The New York Fed’s data also shows that

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