New York Fed Second Quarter:
Household Debt Rises to $16.15 Trillion Amid Growth in Housing and Non-Housing Balances
Total household debt rose $312 billion, or 2 percent, in the second quarter of 2022 to reach $16.15 trillion, according to the latest Quarterly Report on Household Debt and Credit. Mortgage balances—the largest component of household debt—climbed $207 billion and stood at $11.39 trillion as of June 30. Credit card balances saw their largest year-over-year percentage increase in more than twenty years, while aggregate limits on cards marked their largest increase in over ten years. Transitions into delinquency ticked up but remained very low compared to historical levels.
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