CNBC's Steve Liesman reports on the Federal Reserve Bank of New York's Household Debt and Credit Report for the second quarter of 2025. Delinquencies on auto loans and credit card debt remains elevated while student loan delinquencies surge.

The New York Federal Reserve's second quarter report indicates that total US household debt grew by 1%, adding $185 billion to reach $18.4 trillion. While overall delinquency rates remain moderate, there are notable increases in delinquencies for auto loans, credit cards, and especially student loans.

Student loan delinquencies have surged, with 13% of student debt now 30 days delinquent, up from 1% during the previous forbearance period. Mortgage delinquencies have also risen slightly to their highest level since late 2016, but are not considered alarming. The report highlights potential concerns for borrowers with both student and credit card debt, though broader economic weakness is not yet evident.

NY Fed: Total household debt increases by 1% in Q2 to $18.4 trillion

Hey, Leslie, New York fed out with its second quarter of 2025 household debt and credit report. It shows the household debt increased by a modest 1 percent, up $185 billion to a large number of $18.4 trillion. The more important question of delinquencies, they remain elevated for auto loans and for credit card debt. But student loan delinquencies, because of a change in how they're treated, they have surged. Overall, delinquency rates, though, remain relatively modest if you take out student loans. Up, but not at a worrisome level yet without the student loans. Now, the percent of student loan debt that's 30-day delinquent is up to 13 percent. That was 1 percent in Q4 during the forbearance period. That ends in Q1. Now credit card agencies are reporting these as delinquent, went up to 8 percent in Q1, now at around 13 percent. 90-day mortgage delinquencies up 1.3 percent. It's the highest level since Q4 of 2016, but again, not a terribly worrisome level. So we're watching debt, we're trying to see if there's any particular weakness showing up or economic weakness of concern. It's not there, except for if you think about the student debt and the potential knock-on effect from these student debt holders that are having credit card issues now or credit reporting issues, as well as having to pay that debt. David?

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Hiroshima

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Jerusalem

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Kyiv

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Breakdown