Mortgage debt expanded, and other major categories, credit cards, auto loans, HELOCs, and student loans, also rose during the quarter. Delinquency rates edged up slightly, with about 4.8% of outstanding debt in some stage of delinquency, while student loan delinquencies remained elevated following resumed payment reporting. The report also shows steady credit card limit growth and continued mortgage originations, reflecting ongoing credit activity across consumer loan markets. The Federal Reserve Bank of New York writes:
The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $191 billion, 1.0%, in Q4 2025, to $18.8 trillion. […]
“As household debt levels grow modestly, mortgage delinquencies continue to increase,” said Wilbert van der Klaauw, Economic Research Advisor at the New York Fed. “Delinquency rates for mortgages are near historically normal levels, but the deterioration is concentrated in lower-income areas and in areas with declining home prices.”
Mortgage balances grew by $98 billion in the fourth quarter and totaled $13.17 trillion at the end of 2025. Credit card balances rose by $44 billion and stood at $1.28 trillion. Auto loan balances increased by $12 billion to $1.67 trillion, after holding steady during the prior quarter. Home equity line of credit (HELOC) balances increased by $11.6 billion to $434 billion while student loan balances rose by $11 billion to $1.66 trillion. Non-housing balances rose by $81 billion, a 1.6% increase from Q3 2025. […]
Aggregate delinquency worsened in Q4 2025, with 4.8% of outstanding debt in some stage of delinquency. Transitions into early delinquency were mixed with mortgages and student loans increasing, while all other debt types held steady. Transitions into serious delinquency ticked up for credit card balances, mortgages, and student loans while auto loans and HELOC decreased slightly.
Read more here.