The New York Fed just published its latest Quarterly Report On Household Debt And Credit.
“In Q2 2013 total household indebtedness fell to $US11.15 trillion; 0.7% lower than the previous quarter and 12 per cent below the peak of $US12.68 trillion in Q3 2008,” said the NY Fed in a press release. “Mortgages, the largest component of household debt, fell $US91 billion from the first quarter.”
“Total auto loan balances increased $US20 billion from the previous quarter, the ninth consecutive quarterly increase and the largest quarter over quarter increase since 2006,” they added.
Here are some of the highlights via the NY Fed:
- Outstanding student loan debt increased $US8 billion to $US994 billion.
- Credit card balances increased $US8 billion to $US668 billion.
- Total mortgage debt decreased to $US7.84 trillion from $US7.93 trillion.
- HELOC balances fell $US12 billion to $US540 billion.
- Mortgage originations rose to $US589 billion, the seventh consecutive quarterly increase.
- 200,000 individuals had new foreclosure notations added to their credit reports, the first increase since Q1 2012 but still 65 per cent below the peak in Q2 2009.
Here’s the NY Fed’s chart: