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Total Household Debt Climbs to $12.58 Trillion, Approaches 2008 Peak

Federal Reserve Bank of New York – Household Debt Edges Up as Auto, Credit Card, and Student Debt Climb –  “The CMD’s latest Quarterly Report on Household Debt and Credit reveals that total household debt increased by 1.8% in the fourth quarter of 2016, rising $226 billion to reach $12.58 trillion, only 99 billion shy of its 2008 third quarter peak. Balances increased across all debt products, with a 1.6% increase in mortgage balances, a 1.9% increase in auto loan balances, a 4.3% increase in credit card balances, and a 2.4% increase in student loan balances this quarter.”

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