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NVIDIA CorporationHousehold Debt Falls for First Time in Six Years, but Decline Is a Reporting Glitch
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Total U.S. household debt slipped $13 billion in the second quarter of 2026 to $18.77 trillion, the first quarterly decline since the pandemic, but the New York Fed says the drop is a mortgage servicer transfer gap that will likely reverse next quarter. Mortgages fell $74 billion to $13.12 trillion due to reporting lags when loans change servicers, while student loans dropped $7 billion to $1.65 trillion, the lowest since Q2 2025. Credit card debt rose $21 billion to $1.26 trillion, its second-highest level ever, and auto loans hit an all-time high of $1.71 trillion, up $28 billion. The Fed also reported that 4.7% of all household debt is delinquent and roughly 1 in 8 dollars of credit card debt is seriously past due, as households rotate from cheap mortgages into high-cost debt. The bottom 50% of Americans own just 1% of the stock market yet carry most high-cost debt, with personal leverage ratios above 100%.
NVIDIA Corporation