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ABA-Household Debt Rises by $286 Billion in Third Quarter.

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ENPNewswire-November 10, 2021--ABA-Household Debt Rises by $286 Billion in Third Quarter

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Release date- 09112021 - Total household debt increased 1.9% in the third quarter of 2021, rising by $286 billion to land at $15.24 trillion, the Federal Reserve Bank of New York reported today.

Mortgage balances, the largest component of household debt, rose by $230 billion in the third quarter to reach $10.67 trillion. Among nonmortgage debt categories, credit card balances increased by $17 billion in the third quarter, the same increase as in the second quarter but $123 billion lower than at the end of 2019. Student loans increased by $14 billion from the second quarter.

As of late September, 2.7% of outstanding debt was in some stage of delinquency, a two percentage point decline from the fourth quarter of 2019, just before the COVID-19 pandemic hit the U.S. The share of mortgage balances...

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