Total household debt in the United States increased by $185 billion, or 1%, in the second quarter of 2025, reaching $18.39 trillion, according to the Federal Reserve Bank of New York’s Center for Microeconomic Data. The data comes from the New York Fed’s Consumer Credit Panel and is detailed in its latest Quarterly Report on Household Debt and Credit.
The report notes that mortgage balances grew by $131 billion during the quarter, totaling $12.94 trillion at the end of June 2025. Credit card balances increased by $27 billion to $1.21 trillion, while auto loan balances rose by $13 billion to reach $1.66 trillion. Home equity line of credit (HELOC) balances continued their upward trend with a $9 billion increase, marking thirteen consecutive quarters of growth.
Non-housing balances—which include auto loans, credit cards, student loans, and other forms of debt—rose by a combined $45 billion compared to the previous quarter.
Newly originated mortgages reached $458 billion in Q2 2025. Auto loan originations also picked up, with new auto loans and leases totaling $188 billion for the quarter, an increase from the first quarter figure of $166 billion.
Aggregate limits on credit card accounts rose by 1.5%, or $78 billion, from the previous quarter.
Delinquency rates across all types of debt remained elevated in Q2 2025. Overall, 4.4% of outstanding debt was at some stage of delinquency during this period. While most types saw steady transitions into early delinquency, student loans were an exception as missed federal student loan payments—previously unreported between Q2 2020 and Q4 2024—are now appearing on credit reports following a resumption in reporting practices.
Joelle Scally, Economic Policy Advisor at the New York Fed, said: “This quarter’s flow of household debt into serious delinquency was mixed across debt types, with credit card and auto loans holding steady, student loans continuing to rise, and mortgages edging up slightly. Despite the recent uptick in mortgage delinquency, overall mortgage performance remains strong by historical standards.”
In detail:
– Mortgage delinquencies rose from 0.95% in Q2 2024 to 1.29% in Q2 2025.
– HELOC delinquencies more than doubled year-over-year.
– Student loan delinquencies increased sharply from 0.80% to 12.88%.
– Auto loan delinquencies were largely stable at just under 3%.
– Credit card delinquencies dipped slightly compared to last year.
As reported: “Outstanding student loan debt stood at $1.64 trillion in Q2 2025,” and “In Q2 2025, 10.2% of aggregate student debt was reported 90+ days delinquent.” Missed federal student loan payments are now being included in credit reports again after several years’ pause due to pandemic-related relief measures.
The Federal Reserve Bank of New York offers additional information about trends in housing and mortgage markets through its Center for Microeconomic Data’s housing page (https://www.newyorkfed.org/research/data_indicators/housing.html), which features related publications and survey results.
The full Household Debt and Credit Report is available as interactive graphs online (https://www.newyorkfed.org/microeconomics/hhdc.html), providing detailed quarterly data about U.S consumer borrowing trends.
