FX.co ★ US Household Debt Reaches New Record

In the first quarter of 2025, total household debt in the United States surged by $167 billion from the previous quarter, hitting an unprecedented $18.20 trillion. Notably, student loan balances climbed by $16 billion to reach $1.63 trillion, with a marked increase in the transition of balances from current to delinquent. This change is attributed to the reintroduction of student loans on credit reports, following nearly five years of suspension. Additionally, mortgage balances expanded by $199 billion, totaling $12.80 trillion, while home equity line of credit (HELOC) balances grew by $6 billion, reaching $402 billion. Conversely, credit card balances saw a decrease of $29 billion, bringing the total down to $1.18 trillion, and auto loan balances fell by $13 billion to $1.64 trillion. Overall, delinquency rates rose from the last quarter, with 4.3 percent of outstanding debt experiencing some form of delinquency. Auto loans, credit cards, and other debts remained stable concerning the transition into serious delinquency.