Household Debt Sees Modest Decline as Auto Loan Delinquencies Persist
The Federal Reserve Bank of New York's Center for Microeconomic Data has released its Quarter 2, 2026 Report on Household Debt and Credit. The report shows a decrease in total household debt by $13 billion, representing a 0.1% decline, to $18.8 trillion.
Mortgage balances decreased by $74 billion in the second quarter, totaling $13.1 trillion at the end of June. Home equity lines of credit (HELOC) balances rose by $13 billion, reaching $459 billion, which is $142 billion above the low point reached in Q1 2022.
New delinquencies for auto loans and credit cards remain at elevated levels, according to Joelle Scally, Economic Policy Advisor at the New York Fed. Delinquency rates across most products have held steady over the past two years, but this trend is being closely monitored.