The New York Fed just published its latest Quarterly Report On Household Debt And Credit.
"In Q2 2013 total household indebtedness fell to $11.15 trillion; 0.7% lower than the previous quarter and 12 percent below the peak of $12.68 trillion in Q3 2008," said the NY Fed in a press release. "Mortgages, the largest component of household debt, fell $91 billion from the first quarter."
"Total auto loan balances increased $20 billion from the previous quarter, the ninth consecutive quarterly increase and the largest quarter over quarter increase since 2006," they added.
Here are some of the highlights via the NY Fed:
- Outstanding student loan debt increased $8 billion to $994 billion.
- Credit card balances increased $8 billion to $668 billion.
- Total mortgage debt decreased to $7.84 trillion from $7.93 trillion.
- HELOC balances fell $12 billion to $540 billion.
- Mortgage originations rose to $589 billion, the seventh consecutive quarterly increase.
- 200,000 individuals had new foreclosure notations added to their credit reports, the first increase since Q1 2012 but still 65 percent below the peak in Q2 2009.
Here's the NY Fed's chart:
This Is What $11.15 Trillion Worth Of Household Debt Looks Like