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Charging into Adulthood: Credit Cards and Young Consumers

The New York Fed’s Center for Microeconomic Data today released the Quarterly Report on Household Debt and Credit for the fourth quarter of 2019. Total household debt balances grew by $193 billion in the fourth quarter, marking a $601 billion increase in household debt balances in 2019, the largest annual gain since 2007. The main driver was a $433 billion annual upswing in mortgage balances, also the largest since 2007.
Just Released: Mind the Gap in Delinquency Rates

Total household debt balances increased by $192 billion in the second quarter of 2019, boosted primarily by a $162 billion gain in mortgage installment balances, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data (the mortgage installment balances exclude home equity lines of credit, which are reported separately and have been declining in balance for some time). The new mortgage total of $9.4 trillion is slightly higher than the previous high in mortgage balances from the third quarter of 2008 in nominal terms.
Just Released: Shifts in Credit Market Participation over Two Decades
Do Credit Markets Watch the Waving Flag of Bankruptcy?
Paul Goldsmith-Pinkham explores how the lifting of bankruptcy flags affects borrowers’ credit scores and credit outcomes.
Just Released: New and Improved Charts and Data on Auto Loans

This analysis introduces an improved estimate of auto loan originations, some new charts, and some fresh data on the auto loan market based on New York Fed Consumer Credit Panel data.