Overview
- The Federal Reserve Bank of New York released its Q2 2026 Household Debt and Credit report on Aug. 11, showing credit card balances rose $21 billion to $1.26 trillion and total household debt slipped to about $18.8 trillion.
- Mortgage balances fell by $74 billion in the quarter because of a servicer transfer reporting gap that the New York Fed says is likely to be reversed in the next report.
- Auto loan originations hit a nominal quarterly record of $211 billion and outstanding auto debt rose to roughly $1.71 trillion as consumers continued to buy and replace vehicles.
- Aggregate delinquency rates ticked down to about 4.7%, yet the share of credit card balances 90+ days past due climbed to roughly 12.8% largely because lenders have been reporting older charged‑off accounts for longer while new delinquency flows have been roughly steady since 2024.
- The report paints a K‑shaped picture: many households are managing and spending but others are tapping HELOCs or high‑cost credit and remain vulnerable, so analysts will watch whether rising balances turn into broader payment trouble in coming quarters.