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Consumer Financial Health: Difference between revisions
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Last Update: March 2023 | |||
== Debt == | == Debt == | ||
=== '''Balances''' <ref name=":0">https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2022Q4</ref> === | |||
[[File:Debt balances.PNG|thumb|401x401px|https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2022Q4]] | |||
Aggregate household debt balances increased by $394 billion in the fourth quarter of 2022, a 2.4% rise from 2022Q3. Balances now stand at $16.90 trillion and have increased by $2.75 trillion since the end of 2019. | |||
* Mortgage balances shown on consumer credit reports increased by $254 billion during the fourth quarter of 2022 and stood at $11.92 trillion at the end of December, marking a nearly $1 trillion increase in mortgage balances during 2022. | |||
* Credit card balances saw a $61 billion increase in the fourth quarter, surpassing the pre-pandemic high of $927 billion. Credit card balances now stand at $986 billion, after declining to $770 billion in 2021Q1. | |||
* Auto loan balances increased by $28 billion in the fourth quarter, continuing the upward trajectory that has been in place since 2011. | |||
=== Delinquency<ref name=":0" /> === | |||
Aggregate delinquency rates decreased in the fourth quarter of 2022 and remained low, with Increases in the share of balances that are 30- 59 days past due and declines in seriously delinquent balances | |||
* 2.5% of outstanding debt was in some stage of delinquency, 2.2 percentage points lower than last quarter of 2019 | |||
* Transition rates into early delinquency for credit cards and auto loans increased by 0.6 and 0.4 percentage points, following similarly sized increases in the second and third quarters. Delinquency transition rates for mortgages upticked by 0.15 percentage points. | |||
* About 99,000 consumers had a bankruptcy notation added to their credit reports in 2022Q4, unchanged from the previous quarter | |||
== Savings == | == Savings == | ||