Tag Archives: Household Debt

According to the New York Fed, mortgage balances were largely unchanged from the previous quarter, partly due to declining mortgage originations and slowing home prices.

According to a study from the New York Fed, as mortgage debt has increased, delinquencies have not.

The amount of debt homeowners now face totals over $13 trillion, and grew for the 19th straight quarter. One concerning factor is the rising balances on mortgages.

The Federal Reserve Bank of New York recently released its quarterly report on Household Debt and Credit. Read on to discover the data breakdown for Q3 2017.

According to the United States Federal Reserve report, overall national net worth of households rose by 1.7 percent, to $1.7 trillion in the second quarter of 2017, which has been attributed to continued growth in both the stock market and the housing market.

The Quarterly Report on Household Debt and Credit which reported that overall delinquency rates improved and continued the trend that has taken place since 2010.

Overall household debt in the U.S. was up by more than $50 billion in Q4. How much of that can be attributed to outstanding mortgage balances?

According to the New York Fed, foreclosures hit their lowest point in the 16-year history of the bank's Consumer Credit Panel, which uses anonymized Equifax credit data to generate a nationally representative sample.

The number of individuals who had a foreclosure notation added to their credit reports in Q1 was 112,000, the lowest total since 1999, while the number of consumers who had bankruptcies added to their credit reports dropped by 4 percent from Q4 to Q1 down to the lowest point since 2006.

Balances went up across most categories, led by a $39 billion increase in mortgage debt to a total of $8.2 trillion. Student loan debt—a commonly cited obstacle for recent college graduates interested in owning a home—followed closely, increasing $31 billion to a total of $1.2 trillion.