NY Fed: Rising Debt Burdens and Delinquency Rates
According to the New York Federal Reserve, data suggests that rising debt burdens are manageable. However, as of Q3, 3.5% of debt is in some type of delinquency, compared to 3.2% in Q2. Aggregate debt delinquency rates have increased in Q3. On a positive note, the growth in incomes has outstripped the rise in household debt.