Data Analysis

U.S. household debt rose $334 billion to $19.1 trillion in the third quarter of 2026, led by a $257 billion jump in mortgage balances, as 5.0 percent of debt was delinquent and new serious mortgage delinquencies rose to 1.60 percent.

By Jon Brooks, Co-Founder, Momentum Realty · Updated November 10, 2026

The New York Fed reported Q3 2026 household debt on November 10. Mortgage balances reached $13.374 trillion; about 62,000 people had new foreclosures.

Total U.S. household debt rose by $334 billion, or 1.8 percent, to $19.105 trillion in the third quarter of 2026, the Federal Reserve Bank of New York reported on Tuesday, November 10, 2026. Mortgage balances rose $257 billion to $13.374 trillion, and home equity lines of credit rose $23 billion to $481 billion. The share of debt in some stage of delinquency rose 0.3 percentage points from the prior quarter to 5.0 percent. The annualized rate at which mortgage balances moved into serious delinquency, 90 days or more late, was 1.60 percent, up from 1.28 percent a year earlier. About 62,000 people had a new foreclosure added to their credit reports, an increase from the second quarter.

How much household debt do Americans have in Q3 2026?

Household debt totaled $19.105 trillion at the end of September 2026, according to the New York Fed's Quarterly Report on Household Debt and Credit. Balances rose $334 billion in the quarter and $520 billion over the year.

Mortgages made up most of the quarterly increase. The rest came from auto loans, up $21 billion to $1.734 trillion; credit cards, up $22 billion to $1.285 trillion; student loans, up $5 billion to $1.656 trillion; and other debt, up $7 billion to $575 billion. Over the year, mortgage debt rose $302 billion, auto debt $79 billion, HELOC balances $59 billion and credit card debt $52 billion.

Why did mortgage debt rise so much?

Lenders originated $595 billion in new mortgages in the third quarter, counted when a new loan appears on a credit report, a figure that includes refinances. New auto loans totaled $208 billion. Aggregate credit card limits rose $115 billion and HELOC limits rose $31 billion.

Donghoon Lee, an economic research advisor at the New York Fed, said household debt "rose moderately, led by increases in mortgage and home equity line of credit originations." HELOC balances have risen $59 billion over the year. Freddie Mac's 30-year fixed average was 7.18 percent for the week ending November 5, as covered in our November 5 mortgage rates article.

Are mortgage delinquencies rising?

Yes, from a low base. The New York Fed said the transition rate into serious delinquency for mortgages worsened in the third quarter "but remains low by historical standards." The annualized rate was 1.60 percent in the third quarter of 2026, compared with 1.28 percent a year earlier. Transitions into early delinquency also continued to tick up for mortgages and auto loans.

HELOCs moved the other way over the year, from 1.27 percent to 1.17 percent, and the New York Fed described HELOC transitions as flat in the quarter. Lee said that "the overall credit quality of these loans remains strong" even as delinquency transition rates for housing debts have crept up.

Foreclosures rose. About 62,000 individuals had a new foreclosure notation on their credit reports in the third quarter, which the report describes as an increase from the previous quarter. About 135,000 consumers had a bankruptcy notation added, a slight decrease.

What happened to credit card and student loan delinquencies?

Credit card and student loan transitions into serious delinquency improved slightly in the quarter. Over the year, the credit card rate fell from 7.05 percent to 6.87 percent and the student loan rate from 14.26 percent to 7.72 percent. The year-earlier student loan figure was elevated as missed federal student loan payments began appearing on credit reports again in 2025.

Auto loans were nearly unchanged at 3.02 percent versus 2.99 percent a year earlier. Across all debt, the flow into serious delinquency was 2.64 percent, down from 3.03 percent. A companion Liberty Street Economics post examines how the rise in credit card delinquencies differs by neighborhood income.

The Federal Reserve's separate monthly consumer credit report, which excludes mortgages, is covered in our August consumer credit article.

What does this mean for Florida homeowners?

The New York Fed's press release reports national totals; its state-level figures appear in the full report's charts without published values in the release text, so this article does not cite a Florida number. National trends still bear on Florida, where homeowners face payment pressures that the debt totals do not show, including insurance premiums and property taxes collected through escrow.

Rising mortgage delinquency transitions are an early signal worth watching alongside local listing data. Rising HELOC balances mean more owners are carrying a second lien on their homes, which a seller pays off at closing. Our escrow shortage calculator estimates how insurance and tax changes move a monthly payment, and today's October CPI article covers the inflation release. Market conditions by metro are on the Miami, Tampa, Orlando and Jacksonville market pages, and the Florida news hub collects the week's releases.

People also ask

What is total household debt in 2026?

U.S. household debt was $19.105 trillion at the end of the third quarter of 2026, up $334 billion from the second quarter, according to the New York Fed.

How much mortgage debt do Americans have?

Mortgage balances were $13.374 trillion in the third quarter of 2026, up $257 billion in the quarter and $302 billion over the year.

Are mortgage delinquencies going up in 2026?

The annualized flow of mortgage balances into serious delinquency was 1.60 percent in the third quarter of 2026, up from 1.28 percent a year earlier. The New York Fed said it remains low by historical standards.

How many foreclosures were there in Q3 2026?

About 62,000 individuals had a new foreclosure notation on their credit reports in the third quarter of 2026, an increase from the second quarter.

How much credit card debt do Americans have?

Credit card balances were $1.285 trillion in the third quarter of 2026, up $22 billion in the quarter.

Limitations

Figures come from the New York Fed Consumer Credit Panel, a nationally representative sample of anonymized Equifax credit reports, and are not seasonally adjusted. Transition rates are annualized flows into delinquency, which differ from the share of balances already delinquent. The release text does not give the prior-quarter foreclosure or bankruptcy counts, the median credit score of new borrowers, or state values, so none are cited. Mortgage rates come from Freddie Mac's separate survey, and no forecast is made here.

Sources

Federal Reserve Bank of New York, "Household Debt Increased Moderately; Delinquency Transition Rates Remain Flat," press release, November 10, 2026, and Quarterly Report on Household Debt and Credit, 2026 Q3, newyorkfed.org. Federal Reserve Bank of New York, media advisory, November 4, 2026. Freddie Mac Primary Mortgage Market Survey, week ending November 5, 2026.

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.