CHART OF THE DAY: This Is What $US11.28 Trillion Worth Of Household Debt Looks Like

The New York Fed just published its latest Quarterly Report On Household Debt And Credit.

“In Q3 2013 total household indebtedness increased to $US11.28 trillion; 1.1% higher than the previous quarter,” said the NY Fed in a press release. “Overall consumer debt remains 11 per cent below the peak of $US12.68 trillion in Q3 2008.

“This quarter, we observed an increase of household balances across essentially all types of debt,” said NY Fed economist Donghoon Lee. “With non-housing debt consistently increasing and the factors pushing down mortgage balances waning, it appears that households have crossed a turning point in the deleveraging cycle.”

Here are some of the highlights via the NY Fed:

  • Student loan balances appearing on credit reports increased $US33 billion to $US1.03 trillion.
  • Auto loan balances increased for the 10th straight quarter, up $US31 billion to $US845 billion.
  • Credit card balances increased $US4 billion to $US672 billion.
  • Total mortgage debt increased to $US7.9 trillion, up $US56 billion.
  • HELOC balances fell $US5 billion to $US535 billion.
  • Mortgage originations dropped slightly to $US549 billion.
  • 168,000 individuals had new foreclosure notations added to their credit reports, 70 per cent below the peak of 566,000 in Q2 2009.

Here’s the NY Fed’s chart:

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