US Household Debt Soars Most Since Crisis In Q4 Amid Explosion In New Mortgage Originations

US Household Debt Soars Most Since Crisis In Q4 Amid Explosion In New Mortgage Originations

Today the NY Fed published its latest quarterly consumer credit report which found that aggregate household debt increased 1.4%, or by $193 billion in the fourth quarter 2019, its 22nd consecutive increase, for the first time ever surpassing $14 trillion ($14.15 trillion to be exact) some $601 billion higher than a year ago. This was the single biggest monthly increase in household debt since before the financial crisis.