US Household Debt Balance


According to data from the New York Fed’s Quarterly Report on Household Debt and Credit, released last week, mortgages account for around 70% of total household sector debt. Auto loans and student debt have risen significantly over the last few years, but these loans are issued with fixed interest rates and make up just one fifth of total household sector debt combined.

Interest rates on credit card loans, which are sensitive to changes in the fed funds rate, represent a declining share of household sector debt, and account for just 6% of the total. In other words, the vast majority of household debt in the US is issued at fixed rates of interest.


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