US consumer debt rises to $18.5 trillion, Equifax reports
SPY•U.S. consumer debt reached $18.5 trillion as loan originations grew broadly, Equifax said. Mortgage debt rose 3.4% year over year, while auto insurance premiums surged 22.8%.
1. Debt and delinquencies
Equifax's October 2026 Consumer Pulse report showed U.S. consumer debt reached $18.5 trillion amid broad-based loan origination growth. Mortgage debt rose 3.4% year over year, and card balances continued to climb amid higher prices and pockets of increased utilization. Severe mortgage delinquencies increased, offsetting annual delinquency improvements across personal loans, auto loans and bankcards.
2. Household affordability
Auto insurance premiums surged 22.8%, outpacing income growth over the past three years and adding to household affordability stress. Lower-income groups experienced the highest rate of financial decline, though income alone did not fully explain financial conditions.
