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NY Fed: Record $211 B Auto Loans, Delinquency Falls

8/11/2026

46 9 Full Breakdown

Summary

Story summary

The Federal Reserve Bank of New York (New York Fed) said U.S. consumers originated a record $211 billion in auto loans in Q2 2026.
Total household debt slipped to $18.8 trillion, a 0.1% decline tied to a change in mortgage reporting.
The overall delinquency rate fell to 4.7% from 4.8% in the prior quarter.
Joelle Scally of the New York Fed said delinquency rates across most products have held steady for two years.

History

Historical Context

In 2004-2006 U.S. subprime lending surged, reaching about $1.3 trillion by March 2007 and pushing delinquency to 21 % in January 2008. The Federal Reserve, Treasury and Consumer Financial Protection Bureau invoked emergency authority in 2008 to inject liquidity as auto-loan delinquencies topped 7 %. A 2026 New York Fed report shows record $211 billion auto-loan originations, echoing the earlier credit boom.

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Story summary

The Federal Reserve Bank of New York (New York Fed) said U.S. consumers originated a record $211 billion in auto loans in Q2 2026.
Total household debt slipped to $18.8 trillion, a 0.1% decline tied to a change in mortgage reporting.
The overall delinquency rate fell to 4.7% from 4.8% in the prior quarter.
Joelle Scally of the New York Fed said delinquency rates across most products have held steady for two years.

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