Equifax Reports Accelerating US Consumer Debt
Data released by Equifax shows that U.S. consumer debt accelerated in the fourth quarter of 2025. According to the credit bureau's Market Pulse report, delinquency rates have started to ease but remain elevated compared to pre-pandemic levels. The data points to continued financial stress among some consumer segments.
- Total U.S. household debt climbed by $191 billion in the fourth quarter of 2025, reaching a new record of $18.8 trillion. This represented a cumulative increase of approximately $740 billion for the full year 2025. - The quarterly increase was driven by a $98 billion rise in mortgage balances, a $44 billion increase in credit card balances, and a $12 billion rise in auto loans. Student loan balances also grew by $11 billion to a total of $1.66 trillion. - The overall share of outstanding debt in some stage of delinquency increased to 4.8% at the end of December. Student loans were the most troubled category, with 9.6% of balances being 90 or more days delinquent, reflecting the impact of payment resumptions. - Auto loans also showed significant consumer stress, with 5.02% of loans being 90 or more days past due, a level not seen since before the pandemic. Despite this, lending standards in the auto sector loosened slightly
