US consumer debt holds near $18 trillion as delinquency rates ease
Mortgage market shows signs of stabilization
First mortgage balances as the largest single component of consumer debt grew 1.9% year-over-year to $12.845 trillion in June 2026, reflecting continued but moderating growth in the housing sector.
Home equity lines of credit, or HELOCs, posted the sharpest expansion of any debt category, surging 12.5% over the same period to $444.8 billion. That growth suggests homeowners are increasingly tapping equity as an alternative to refinancing in a still-elevated rate environment.
On the delinquency front, 90-plus-day past-due mortgage delinquencies rose 40.6% from year-ago levels — though that comparison is measured against the unusually low delinquency rates seen in mid-2025. More notably, those severe delinquencies have fallen 3.6% since May 2026, a trend that analysts may view as an early stabilization signal worth monitoring.
Auto and credit card debt continue to climb
Auto loan balances increased 2.8% year-over-year to $1.626 trillion, a pace that reflects persistent vehicle demand even as affordability remains stretched for many households. Credit card debt, a key measure of consumer financial stress, rose 3.9% annually to $1.1085 trillion.
Viewed over a two-year window, bankcard balances have grown approximately 8.2%, expanding from roughly $1.02 trillion in June 2024. That rate of growth outpaces cumulative inflation over the same period, estimated at around 6.5%, suggesting real increases in credit card reliance among American consumers.
