• By the end of the year, total household debt reached $12.12 trillion in the state, a 0.4 percent increase from the third quarter of 2015, or a $51 billion rise.
  • Mortgage originations, which include new mortgage loans and refinanced mortgages, declined slightly quarter-over-quarter to $437 billion.
  • There were 104,000 individual new foreclosures in the fourth quarter, which was a slight rise from the previous quarter’s 16-year low. Nevertheless, 2015 proved to be a positive year for foreclosure rates across the nation.
  • Student loan debt increased by $29 billion to hit $1.23 trillion in the fourth quarter.

Although household debt increased somewhat in the final quarter of 2015, most is attributed to auto and student loan debt. Mortgage balances, which are the leading element of household debt, stood fairly flat in the fourth quarter, according to the New York Federal Reserve Quarterly Report on Household Debt and Credit. By the end of the year, total household debt reached $12.12 trillion in the state, a 0.4 percent increase from the third quarter of 2015, or a $51 billion rise. However, household debt remains 4.4 percent lower than its highest level in the third quarter of 2008, when it hit $12.68 trillion. Mortgage balances comprise $8.25 trillion of the $12.12 trillion fourth-quarter total debt across the country -- representing an $11 billion drop from the prior quarter. Home ...