Consumer debt in the United States reached a new record high in the first quarter of 2023, surpassing $17 trillion, despite a significant decline in home borrowing. According to the New York Federal Reserve, total consumer borrowing across all categories increased by nearly $150 billion or 0.9 during the January-to-March period. This brought the overall indebtedness up by approximately $2.9 trillion since the pre-Covid period in 2019. Credit card delinquency rates increased by 0.6 percentage point to 6.5, auto loan delinquency rates rose by 0.2 percentage point to 6.9, and the overall delinquency rate increased by 0.2 percentage point to 3, reaching its highest level since the third quarter of 2020. Student loan debt rose slightly to $1.6 trillion, and auto loans also experienced a modest increase, reaching $1.56 trillion.