Total household debt in the first quarter of 2023 rose by $148 billion, or 0.9%, to $17.05 trillion, the report said, adding that balances were also $2.9 trillion higher than at the end of 2019, before the pandemic-triggered recession.
"The share of current debt becoming delinquent increased for most debt types," the report said. "The delinquency transition rate for credit cards and auto loans increased by 0.6 and 0.2 percentage points, respectively approaching or surpassing their pre-pandemic levels."
Credit card balances were flat in the first quarter, standing at $986 billion, but auto loan balances increased by $10 billion in the first quarter, bucking the typical trend of balance declines in first quarters, the report said.
Student loan balances slightly increased to $1.6 trillion. Other balances, which include retail cards and other consumer loans, increased by $5 billion, the report said.
In total, non-housing debt grew by $24 billion for the first quarter, the report added.
Mortgage balances rose modestly by $121 billion and stood at $12.04 trillion at the end of March, according the report.