Total household debt rose another 0.6 percent to all-time high, delinquency rates stable at low levels

Total household debt increased by $82 billion (0.6%) to $13.29 trillion in the second quarter of 2018. It was the 16th consecutive quarter with an increase, and the total is now $618 billion higher than the previous peak of $12.68 trillion, from the third quarter of 2008. Further, overall household debt is now 19.2% above the post-financial-crisis trough reached during the second quarter of 2013.

While overall delinquency rates have remained stable at relatively low levels, transition rates into delinquency have fallen noticeably for student debt over the past year, reflecting an improved labor market and increased participation in various income-driven repayment plans.

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September consumer credit use up 6.6 percent year-on-year

Consumer credit rose $20.8 billion in September and is up 6.6 percent year over year. While revolving and nonrevolving credit growth accelerated from August’s gain, nonrevolving credit continues to lead the charge, eclipsing the $1 trillion level.

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Consumer credit use rose 5.9 percent in July

Consumer credit increased at a seasonally adjusted annual rate of 5.9% in July. Total outstanding credit increased $18.5 billion during the month (compared with $11.9 billion in June) to $3.75 trillion.

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Consumer debt rose in June at a slower pace to record level

American consumers increased their borrowing at a slower pace in June, as the category that includes auto and student loans posted the smallest gain in a year.

Still, the June increase brought overall consumer credit -- not including mortgages or other debt secured by real estate, including home-equity loans -- to a fresh record of $3.86 trillion.

In addition, the total for the category of "revolving debt," primarily credit card balances also hit a new record high of $1.027 trillion.

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