Career News 24/7: This Is What $11.28 Trillion Worth Of Household Debt Looks Like

Your Message Subject or Title

Chart of the Day


	This Is What $11.28 Trillion Worth Of Household Debt Looks Like The New York Fed just published its latest Quarterly Report On Household Debt And Credit. "In Q3 2013 total household indebtedness increased to $11.28 trillion; 1.1% higher than the previous quarter," said the NY Fed in a press release. "Overall consumer debt remains 11 percent below the peak of $12.68 trillion in Q3 2008. “This quarter, we observed an increase of household balances across essentially all types of debt,” said NY Fed economist Donghoon Lee. “With non-housing debt consistently increasing and the factors pushing down mortgage balances waning, it appears that households have crossed a turning point in the deleveraging cycle.” Here are some of the highlights via the NY Fed: Student loan balances appearing on credit reports increased $33 billion to $1.03 trillion. Auto loan balances increased for the 10th straight quarter, up $31 billion to $845 billion. Credit card balances increased $4 billion to $672 billion. Total mortgage debt increased to $7.9 trillion, up $56 billion. HELOC balances fell $5 billion to $535 billion. Mortgage originations dropped slightly to $549 billion. 168,000 individuals had new foreclosure notations added to their credit reports, 70 percent below the peak of 566,000 in Q2 2009. Here's the NY Fed's chart: Read »