Equifax: U.S. Consumer Debt Stabilizes at $18.25T in Q2 2026

U.S. consumer debt has stabilized at $18.25 trillion as of the second quarter of 2026, marking a 0.32% increase from the previous quarter and a 2.1% rise year-over-year. Delinquencies across major categories are showing improvement, signaling a potential stabilization in consumer financial health.

### Money Play Investors may watch Equifax (NYSE: EFX) for insights into consumer credit trends, as stabilization in debt and improving delinquencies could indicate resilience in consumer spending and a reduced risk of broad credit defaults.

## Catalyst Analysis: U.S. Consumer Debt Trends The Equifax National Market Pulse data for the second quarter of 2026 indicates that total U.S. consumer debt reached $18.25 trillion. This represents a 2.1% year-over-year increase, with mortgage debt being the primary driver, accounting for approximately 74% of all consumer debt. First mortgage and home equity line of credit (HELOC) balances saw year-over-year increases of 1.9% and 12.5%, respectively.

Within non-mortgage debt, which constitutes about 90% of all non-mortgage debt, bankcard balances have grown by 8.2% to $1.1 trillion, outpacing inflation. This growth contrasts with student loans, where balances have seen a 3.1% decrease over the same period. Delinquencies across automotive, bankcard, and mortgage sectors have improved, with 90+ days past due delinquencies dropping 3.6% since May 2026, suggesting a normalization trend.

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