Key Takeaways

U.S. household debt encompasses mortgages, car loans, credit cards and student loans.

Total household debt hit a record high of $18.59 trillion from July through September of this year.

The number marked a 1% increase from the previous quarter, showing that debt balances “are growing at a moderate pace,” according to researchers.

U.S. household debt levels have reached an all-time high, according to the latest data released on Wednesday by the Federal Reserve Bank of New York. Debt includes all major categories, such as mortgages , car loans , credit card balances and student loans .

Total household debt hit a record high of $18.59 trillion from July through September of this year, a $197 billion (1%) increase from the previous quarter, per the report. Overall,

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