The numbers: Household debt rose for the eighteenth consecutive period in the fourth quarter, rising 0.2% to $ 1
Household debt is now 21% above the minimum following the credit crisis.
What happened: Mortgages' origins went down to $ 401 billion from $ 445 billion, as rising mortgage rates last year crushed refiers and lower prices high prices have limited the demand for sales of old and new homes. Home loan balances have fallen to their lowest level in 14 years.
But the origins of car loans last year reached $ 584 billion, the best year in 19, helped by the growing labor market that encouraged the demand for new vehicles.
the debt, now $ 1.46 trillion, has increased both for the quarter and for the year, as well as credit card debt.
The big picture: The New York Fed report found that the new car loans were mainly to reliable people, with the total stock of top quality auto loans since the regional central bank started to track in 2000.  But the car deliveries in serious delinquency continued to rise due to the past subprime origination, reaching now 2.4%, the highest level since the third quarter of 2017. These mortgages Subprime rates were mainly made by auto finance companies compared to banks or automobile manufacturers.
According to the New York Fed, 6.5% of car loans have expired for more than 90 days, compared to only 0.7% of those made by credit unions.