Just Released: Household Debt Balances Increase as Deleveraging Period Concludes

Andrew Haughwout, Donghoon Lee, Joelle Scally and Wilbert van der Klaauw

No 20141125, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: The New York Fed released the Quarterly Report on Household Debt and Credit for the third quarter of 2014 today. Balances continued to rise slightly, with an overall increase of $78 billion. The aggregate household debt balance now stands at $11.71 trillion, up 0.7 percent from the previous quarter, but still well below the peak of $12.68 trillion in the third quarter of 2008.

Keywords: Defaults; Mortgages; Deleveraging; Consumer debt; Foreclosures (search for similar items in EconPapers)
JEL-codes: D1 (search for similar items in EconPapers)
Date: 2014-11-25
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