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Xcelerated Revenue LLC

Total Household Debt Climbs in Q2 2021, New Extensions of Credit Hit Series Highs

According to the latest Quarterly Report on Household Debt and Credit, total household debt increased by $286 billion (1.9%) to $15.24 trillion in the third quarter of 2021. Mortgage balances—the largest component of household debt—rose by $230 billion. Auto loans increased by $28 billion. Student loan balances grew by $14 billion, coinciding with the start of an academic year. Credit card balances increased in the third quarter by $17 billion, after an increase of the same size in the second quarter. Non-housing balances grew by $61 billion, with gains across all debt types.

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