As of my last data update in October 2023, here are some key statistics regarding loans in the USA:
- Total Household Debt: As of mid-2023, total household debt in the U.S. was approximately $16 trillion, with a significant portion attributed to mortgages, student loans, and credit cards.
- Mortgage Loans: Mortgages accounted for the majority of household debt, with outstanding mortgage debt exceeding $11 trillion. The average mortgage interest rate hovered around 6-7% during 2023.
- Student Loans: The total student loan debt in the U.S. was around $1.7 trillion, affecting over 45 million borrowers. The average student loan debt per borrower was approximately $37,000.
- Credit Card Debt: U.S. credit card debt reached over $1 trillion, with the average interest rate for credit cards being around 18-20%.
- Personal Loans: The personal loan market continued to grow, with outstanding loans exceeding $200 billion. The average interest rate for personal loans varied widely based on credit scores but was generally around 10-30%.
- Auto Loans: Auto loans have seen increases as well, with outstanding auto loan debt over $1.4 trillion. The average loan term for new cars was around 70 months.
- Delinquency Rates: Delinquency rates for various types of loans varied, with mortgage delinquency rates being relatively low historically, while credit card delinquency rates were on the rise, reflecting economic challenges.
For the latest and more detailed information, checking reports from reputable financial institutions, the Federal Reserve, or government resources may provide additional insights.