US household debt rising across the board
Delinquencies for subprime loans are approaching their pre-pandemic proportion
In the second quarter of 2022, total US household debt passed $16 trillion dollars, figures published by the Federal Reserve Bank of New York show.
The second quarter of the year saw a $312 billion dollar increase in total debt – which now stands at $16.2 trillion.
“While household balance sheets overall appear to be in a strong position, we are seeing rising delinquencies among subprime and low-income borrowers with rates approaching pre-pandemic levels,” said Joelle Scally, administrator of
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