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US: Total Household Debt Reaches $17.29 Trillion in Q3 2023; Driven by Mortgage, Credit Card, and Student Loan Balances
The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The Report shows total household debt increased by $228 billion (1.3%) in the third quarter of 2023, to $17.29 trillion. The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel. Mortgage balances rose by $126 billion from the previous quarter and stood at $12.14 trillion at the end of September. Credit card balances increased by $48 billion to $1.08 trillion in Q3 2023, representing a 4.7% quarterly increase. Auto loan balances rose by $13 ... (full story)
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NY FED: TOTAL US HOUSEHOLD DEBT CLIMBS 1.3% TO $17.29 TRILLION IN THIRD QUARTER
— *Walter Bloomberg (@DeItaone) November 7, 2023
NY FED: TOTAL MORTGAGE BALANCES CLIMB $126B TO $12.14 TRILLION IN THIRD QUARTER
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NY FED: THIRD-QUARTER AGGREGATE DELINQUENCY RATES CLIMB BY 3%
— *Walter Bloomberg (@DeItaone) November 7, 2023
NY FED: CREDIT CARD DELINQUENCY RATE CLIMB ELEVATED AMONG YOUNGER AMERICANS
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NY FED: THIRD-QUARTER AUTO LOANS UP BY $13B TO $1.6 TRILLION
— *Walter Bloomberg (@DeItaone) November 7, 2023
NY FED: THIRD-QUARTER MORTGAGE ORIGINATION LEVELS EBB TO $386B
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