Source: Federal Reserve Bank of New York
Total household debt in New York state reached $14.96 trillion in the second quarter, up 2.1% or $313 billion. SPY is down -0.091%, DXY is up +0.02%.
- The household debt was boosted by expansion in mortgages and auto loans, which rose by $282 billion and $33 billion, respectively.
- Credit card balances rose by $17 billion as student loan debt fell by $14 billion.
- Mortgage originations hit $1.2 trillion, more than volumes in the preceding three quarters, with auto loan originations hitting a record $202 billion.