US loan delinquency rates ‘rising across the board’ – NY Fed
Rising household debt burden ‘merits monitoring’ in months ahead
Levels of debt and delinquency rose in the US during Q4 2023, according to a new paper from the Federal Reserve Bank of New York.
Total household debt increased by $212 billion during the quarter to reach $17.5 trillion. The figure was $3.4 trillion more than the level recorded at the end of 2019, immediately before the pandemic.
“As forbearances ended and the savings from stimulus payments were exhausted for many households, delinquency rates have been rising again,” wrote Fed researchers in a
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