Total U.S. household debt reached a record $18.6 trillion last quarter, with most borrowers keeping up with payments, though young adults are under increasing strain.

Serious delinquencies—90 days or more past due—rose to 3% overall, the largest quarterly increase since 2014, and hit about 5% among 18- to 29-year-olds, largely driven by student loan defaults.

Other debt categories, including mortgages, auto loans, and credit cards, have remained relatively stable, supported by strong home equity and strict lending standards.

Overall, 4.5% of debt was in some stage of delinquency, the highest since early 2020 but consistent with pre-pandemic levels and far below the 2009 peak of 11%, The Hill has reported.

Analysts note that while household debt is rising, the debt-to-income ratio remains manageable, suggesting broad financial stability despite pockets of strain among younger borrowers.