New York Federal Reserve
- Student loans saw large uptick in transition into delinquency rate in Q1
- Most other types of credit saw steady transition into delinquency rates
- Aggregate delinquency rate at 4.2% vs 3.6% in Q4
- Researchers saw household balance sheets in pretty good shape
- Credit card and auto balances both trimmed in Q1, mortgages balances rose
- Household debt up 0.9% q/q
This is no big surprise given that the Trump administration restarted the collection of student debt.
