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US Household Debt Hits $18.8 T Record, Delinquencies Rise

5/14/2026

Summary

Fed Reports Debt

Debt hit a record $18.8 trillion in Q1 2026, per the Federal Reserve Bank of New York.
Household debt components included $13.2 trillion in mortgages, $1.69 trillion in auto loans, $1.66 trillion in student loans and $1.25 trillion in credit-card debt.
Delinquency rates were 1% for mortgages, 13% for credit cards and 10% for student loans.
Analyst Ted Rossman warned that payments on a $6,700 balance at 19.4% interest would keep borrowers in debt for 18 years.

Summary

Trump Fuels Inflation

Inflation rose 3.8% in April, highest since May 2023, as gas prices—accounting for 40% of the CPI increase—added about $75 a month to households.
President Donald Trump’s February strikes on Iran closed the Strait of Hormuz, keeping fuel prices high.
A WalletHub survey found half Americans say rising costs fuel debt, two in five expect it to worsen within a year, and blame the GOP for wars that worsen the crisis.

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Fed Reports Debt

Debt hit a record $18.8 trillion in Q1 2026, per the Federal Reserve Bank of New York.
Household debt components included $13.2 trillion in mortgages, $1.69 trillion in auto loans, $1.66 trillion in student loans and $1.25 trillion in credit-card debt.
Delinquency rates were 1% for mortgages, 13% for credit cards and 10% for student loans.
Analyst Ted Rossman warned that payments on a $6,700 balance at 19.4% interest would keep borrowers in debt for 18 years.

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