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"The CMD’s (the Center for Microeconomic Data) latest Quarterly Report on Household Debt and Credit reveals that total household debt rose by $114 billion (0.9 percent) to $12.84 trillion in the second quarter of 2017," said the Federal Reserve Bank of New York said on Tuesday.
Key quotes:
There were modest increases in mortgage, auto, and credit card debt (increasing by 0.7 percent, 2 percent, and 2.6 percent respectively), no change to student loan debt, and a decline in home equity lines of credit (which fell by 0.9 percent).
Flows of credit card balances into both early and serious delinquencies climbed for the third straight quarter—a trend not seen since 2009.
