US Household Debt at Record High

The Federal Reserve Board has revealed that US household debt has soared to an unprecedented $19 trillion, according to a report released on Monday.

From the fourth quarter of 2025 to the first quarter of 2026, household debt saw an increase of $18 billion, reaching a cumulative total of $18.8 trillion. This rise comes amid both Republican and Democratic efforts to address affordability issues as the 2026 midterm elections approach.

The Federal Reserve noted that the number of Americans who are at least 30 to 60 days behind on payments remains relatively stable. The delinquency rate for mortgage debt rose from 1.22% in late 2025 to 1.48% in early 2026.

During the same timeframe, auto debt increased from 2.94% to 2.97%, credit card debt from 7.04% to 7.10%, and student loan debt experienced a significant rise from 8.04% to 10.86%.

Data from the Fed was released just before President Donald Trump indicated he wasn’t focused on the financial situation of American citizens when discussing the end of the Iran war.

Furthermore, it was reported that everyday goods saw a price increase of 0.6% in April and 0.9% in March, with energy prices climbing 10.9% since the onset of the conflict.

On a more positive note, the percentage of borrowers who are over 90 days late on their student loan payments dropped from 16.2% to 10.9% in a single quarter.

This data is derived from detailed Equifax credit reporting compiled by the New York Fed Consumer Credit Committee. The quarterly analysis represents a random 5% sample of individuals with Social Security numbers and credit reports, amounting to approximately 44 million individuals each quarter.