7 November 2023
U.S. household debt rose this month, led by increases in mortgages at $12.14 trillion, credit card debt at $1.08 trillion, and student loans at $1.6 trillion. Post-Great Recession, economic analysts focus closely on household liabilities. The New York Federal Reserve issues a quarterly Household Debt and Credit report, tracking this data since 2003. This report draws from the NY Fed’s Consumer Credit Panel, a sample of over 40 million individuals’ credit reports provided by Equifax.