Overview

• Total household borrowing increased by $185 billion, or 1 percent, in the second quarter to a record $18.39 trillion, driven mainly by housing-related credit.
• Overall delinquency rates edged up from pandemic lows to 4.4 percent as consumers navigated higher interest costs.
• Student loan delinquencies jumped sharply after the moratorium ended, with 10.2 percent of balances over 90 days past due and further increases expected.
• FHA-backed mortgages saw the steepest quarterly rise in 30-day delinquencies, exceeding 4 percent, especially in Southern states and Puerto Rico.
• Credit card debt climbed by $27 billion to $1.21 trillion and auto-loan balances rose by $13 billion to $1.66 trillion in the quarter.