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US household debt (not adjusted for inflation) moved up to a fresh record total of $17.94 trillion as of September 30, according to the Federal Reserve Bank of New York’s latest Quarterly Report ...
Early results for the fourth quarter of the year show preliminary data for October at a new record high for credit card debt in the month, in ab Report: Average American household has more than ...
The country’s overall debt load reached a new peak of $17.9 trillion, thanks to across-the-board growth in mortgage, auto, credit card, education, and other consumer debt, according to Federal ...
The latest quarterly Household Debt and Credit Survey from the New York Fed showed that total U.S. consumer debt was nearly $8 trillion at the end of the third quarter of 2024, a record high.
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Overall household debt grew by 1.1% during the first quarter to $17.69 trillion, according to data that is not adjusted for inflation. The quarterly increase was driven largely by mortgage balances.
Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period.
The consumer leverage ratio in the US was increasing in the years before the 2007–2008 financial crisis, peaking at 1.29x in 2007 and decreasing ever since. As of the fourth quarter of 2016, the ratio in the US stood at 1.04x. The historical average of this ratio since late 1975 is approximately 0.9x.