{"id":49526,"date":"2025-11-06T01:54:00","date_gmt":"2025-11-06T07:54:00","guid":{"rendered":"https:\/\/ustower.net\/?p=49526"},"modified":"2025-11-06T03:24:20","modified_gmt":"2025-11-06T09:24:20","slug":"americans-household-debt-hits-new-record-high-according-to-report","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=49526","title":{"rendered":"Americans’ household debt hits new record high, according to report"},"content":{"rendered":"\n

Americans\u2019 household debt levels \u2013 including mortgages, car loans, credit cards and student loans \u2013 are now at a new record high, according to data<\/a> released Wednesday by the Federal Reserve Bank of New York.<\/p>\n\n\n\n

Total household debt reached $18.59 trillion from July through September of this year, up by $197 billion from the previous quarter. Overall debt levels are up by $4.4 trillion since the end of 2019, just before the pandemic recession.<\/p>\n\n\n\n

In a call with reporters Wednesday, researchers at the New York Fed said overall household balance sheets do remain \u201cpretty strong,\u201d though there are some signs of weakness among younger borrowers.<\/p>\n\n\n\n

The report also shows Americans\u2019 student loan debt hit a new record, at $1.65 trillion. A lot more borrowers are missing their payments, as well; nearly 10% of all student debt was reported as 90 days delinquent, or more.<\/a><\/p>\n\n\n\n

\u201cMissed federal student loan payments that were not previously reported to credit bureaus between 2020 Q2 and 2024 Q4 are now appearing in credit reports,\u201d the report said. \u201cConsequently, student loan delinquency rates remained elevated after a sharp rise in the first half of 2025.\u201d<\/p>\n\n\n\n

Researchers at the New York Fed said measuring student loan delinquencies is still complicated by the fact that payments were on pause for four years during the pandemic.<\/p>\n\n\n\n

\u201cStudent loan delinquencies are at a record high, but auto loan and credit card delinquencies aren’t as high as they were in the middle of 2024,\u201d said Bankrate senior industry analyst Ted Rossman in a research note Wednesday.<\/p>\n\n\n\n

The report also shows Americans\u2019 outstanding credit card balances increased by $24 billion to $1.23 trillion in the third quarter of this year \u2013 an all-time high. Credit card debt is up nearly 6% compared to one year ago.<\/p>\n\n\n\n

Auto loan balances held steady at $1.66 trillion, according to the report.<\/p>\n\n\n\n

\u201cWhile there is some distress at the household level \u2013 in line with that K-shaped economy where the rich get richer and the poor get poorer \u2013 the macro picture is fairly bright,\u201d Rossman said.<\/p>\n\n\n\n

abcnews<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Americans\u2019 household debt levels \u2013 including mortgages, car loans, credit cards and student loans \u2013 are now at a new record high, according to data released Wednesday by the Federal Reserve Bank of New York. Total household debt reached $18.59 trillion from July through September of this year, up by $197 billion from the previous quarter. Overall […]<\/p>\n","protected":false},"author":7,"featured_media":49527,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[1235,1763,1170],"class_list":["post-49526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-debt","tag-household","tag-new"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/49526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49526"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/49526\/revisions"}],"predecessor-version":[{"id":49528,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/49526\/revisions\/49528"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/49527"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}