America's Rising Debt Levels: A Closer Look by NY Fed

<p>The NY Fed takes a closer look at the US rising debt levels:</p><ul><li>Total household debt up $212 billion to $17.5 trillion in fourth quarter of 2023</li><li>Delinquency rates rose in Q4 2023 but remain below pre-pandemic level. Good news.</li><li>3.1% of debt was in some type of delinquency during 4Q 2023</li><li>Delinquency transition rates up for all borrowing types except student loans</li><li>Delinquency transition rate for mortgages up but still historically low</li><li>Mortgage balances up $112 billion in 4Q 2023 to $12.25 trillion</li><li>Credit card balances up $50 billion to $1.13 trillion in 4Q 2023</li><li>Auto loans up $12 billion to $1.61 trillion in 4Q 2023</li><li>Student loans little changed in 4Q 2023 at $1.6 trillion</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.