The key facts

  • US household debt grew by $334 billion over the quarter to $19.1 trillion (+1.8%)
  • Mortgages increased by $257 billion to $13.37 trillion
  • The share of delinquent debt reached 5%, up 0.3 percentage points over the quarter

Record level of household debt

Total US household debt grew by 1.8% in the third quarter of 2026, reaching $19.1 trillion. The data was published by the Federal Reserve Bank of New York in its quarterly report on household debt and credit. Total borrowing increased by $334 billion over the quarter and by $520 billion year over year.

Structure of growth: mortgages and credit cards

The largest component of debt — mortgages — added $257 billion over the quarter, reaching $13.37 trillion, which is $302 billion more than a year earlier. Auto loans rose by $21 billion to $1.73 trillion, and student loans increased by $5 billion to $1.66 trillion. Credit card balances grew by $22 billion to $1.29 trillion, with a year-over-year increase of $52 billion. Home equity lines of credit (HELOC) stand out separately: their $23 billion increase to $481 billion was the largest quarterly rise since 2005.

Delinquencies: a mixed picture

The share of household debt in some stage of delinquency rose by 0.3 percentage points over the quarter, reaching 5%. At the same time, trends differ across loan types: transitions into early delinquency increased slightly for auto loans and mortgages but improved for credit cards. Transitions into serious delinquency also improved slightly for credit cards and student loans. For mortgages, the serious delinquency situation worsened, though, as the bank notes, it remains low by historical standards.