May 13th, 2014
from the Federal Reserve Bank of New York
The New York Fed released its Quarterly Report on Household Debt and Credit for the first quarter of 2014, which shows a $129 billion increase in overall household debt from the previous period. Delinquency rates continued to improve, with the overall ninety-plus day delinquency rate falling to 4.8 percent, the lowest it has been since mid-2008.
Mortgages, the largest component of household debt, increased in the first quarter by $116 billion. Mortgage balances shown on consumer credit reports stand at $8.17 trillion, up $233 billion from the level in the first quarter of 2013. Balances on home equity lines of credit (HELOC) dropped by $3 billion (0.6%) from the fourth quarter of 2013 and now stand at $526 billion.