The NY Federal published its latest report on Household Debt and Credit for the first quarter: the report showed total household debt increased by $18 billion, just a 0.1% increase, in Q1 2026, to $18.8 trillion.
Some details:
- Mortgage balances shown on consumer credit reports grew slightly by $21 billion during the first quarter of 2026 and totaled $13.19 trillion at the end of March.
- Balances on home equity lines of credit (HELOC) rose by $12 billion, marking the 16th consecutive quarterly increase. Outstanding HELOC balances now total $446 billion, $129 billion above the low reached in 2022Q1.
- Non-housing debt balances declined by $15 billion, or 0.3%, from 2025Q4. This decline was driven primarily by a seasonal decrease in credit card balances, which fell by $25 billion and now stand at $1.25 trillion.
- Student loan balances were essentially flat, decreasing by $6 billion and standing at $1.66 trillion.
- Auto loan balances grew by $18 billion, to $1.69 trillion.
- Other balances, which include retail cards and consumer finance loans, edged down by $2 billion to $562 billion.
The volume of newly originated credit held steady in the first quarter of 2026 for both mortgages and auto loans. Mortgage originations, measured as appearances of new mortgages on consumer credit reports and including both refinance and purchase originations, were largely steady with $530 billion newly originated in 2026Q1.