Household debt reached $19.1 trillion in the third quarter of 2026, up $334 billion from the prior quarter and $520 billion year over year, according to the New York Fed's Quarterly Report on Household Debt and Credit. The increase came across all major categories at once: mortgages, credit cards, auto loans, and home equity lines.
Credit card balances hit $1.29 trillion, a record high. That figure rose $22 billion from the second quarter and $52 billion from a year earlier. Auto loans climbed to $1.73 trillion, up $21 billion. Home equity lines of credit grew fastest as a percentage, rising $23 billion to $481 billion, marking the largest quarterly jump since 2005.
Mortgages remain the largest category at $13.4 trillion, though about half of the quarter's increase came from a reporting gap rather than new borrowing.
Delinquencies also rose. The share of all debt in some stage of delinquency reached 5.0 percent at the end of September, up from 4.7 percent the previous quarter. Serious delinquency (90 or more days past due) on mortgages jumped to 1.60 percent from 1.28 percent a year earlier. Auto loans holding steady at 3.02 percent serious delinquency, slightly up from 2.99 percent a year earlier. Student loans showed improvement, with serious delinquency falling to 7.72 percent from 14.26 percent after a spike last year from the restart of federal loan servicing.
If you carry a credit card balance, the interest math has not changed. A $3,000 balance at 22 percent APR costs over $50 per month in interest alone before touching principal. Shoppers considering auto loans should compare loan terms with current used car values and examine total cost over the loan term, not just monthly payments. A 72-month loan can cost thousands more in interest than a 48-month loan on the same vehicle.