Total household debt increased $167 billion, or 0.9% QoQ, to $18.20 trillion in Q1 2025, the largest quarterly increase since Q1 2024.

• An increase of $199 billion in mortgage debt drove the overall increase in household debt as non-mortgage debt fell -$32 billion across the other categories.

• Missed federal student loan payments that were not previously reported to credit bureaus between Q2 2020 and Q4 2024 are now appearing in credit reports. Consequently, 7.74% of aggregate student debt was reported 90+ days delinquent in Q1 2025, compared to less than 1% reported in Q4 2024.
• Total household debt in serious delinquency reached 2.45% in Q1 2025, up from 1.70% in Q4 2024 and up from 1.54% in Q1 2024.
• However, serious delinquency rates for auto, credit card, and other debt all fell over the quarter.