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.