NY Fed: Total household debt rises by 0.9% in Q1

In a report published on Monday, the Federal Reserve Bank of New York said that the total household debt rose by 0.9% in the first quarter to $17.05 trillion.

The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.2% on the day at 102.50.

Key takeaways

“Q1 mortgage originations drop sharply to $324 billion, lowest since Q2 2014.”

“Mortgage foreclosure levels were low in first quarter.”

“Student loan debt at $1.604 trillion in first quarter amid low delinquency rate.”

“Credit card balances flat in first quarter at $986 billion.”

“Covid-era mortgage refinancing boom to provide significant support for consumers.”

“End of low-rate period creates roadblock for selling homes.”

“Credit card, auto loan delinquency rates rose in first.”