The Federal Reserve Bank of New York recently released its Household Debt and Credit Report for Q1 2026. Some highlights follow:
· Total household debt in the U.S. increased by $18 billion (or 0.1%) in the first quarter. The total household debt figure now stands at $18.8 trillion.
· Mortgage balances grew by $21 billion for the same time period, resulting in a total U.S. mortgage balance figure of $13.19 trillion.
· Home Equity Lines of Credit (HELOC) added $12 billion to its now $446 billion figure.
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The Federal Reserve Bank of New York also released an update on student loan payments. While student loan balances remain unchanged, balances past due increased to pre-pandemic levels of over 10%. The average borrower entering default is:
· Approximately 40-years-old,
· was not in default prior to the pandemic, and
· was more likely to live in the Southern U.S.
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Thank you for making Curran Wealth Management your trusted financial advisor. As always, please reach out with any questions of concerns.
Sincerely,
Thomas Curran
President & Co-CEO
Curran Wealth Management
At Curran we value service over sales and believe quality service yields happy clients. Below is our 4-step process (the first three steps at no cost to you).
A short introductory call for us to get to know one other. During this call we will discuss your financial goals, concerns and hopes for the future.
In this meeting we will go over your current financial situation, take a deeper look at your goals, discuss your risk tolerances, and collect the data necessary to build a formal proposal.
Based on our data gathering session, our Private Wealth Managers will present you with a custom proposal tailored to your needs. We encourage individuals to take the time to evaluate this proposal.
If you are comfortable with the proposal and choose to invest with Curran, our team will be there every step of the way assisting in opening the recommended accounts and facilitating all necessary parts of your onboarding process.
