Consumer Debt Hits $18.56 Trillion as HELOCs Surge
Homeowners tapping home equity drove the growth, while households with bankcards are paying down delinquencies more reliably than a year ago.
Updated on Nov. 12, 2026 in Credit Cards
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Total U.S. consumer debt reached $18.56 trillion in September 2026, up 2.9% from a year earlier, with home equity lines of credit (HELOCs) driving much of the growth. Household borrowing is rising overall, but delinquency on bankcards has eased compared with September 2025.
Why it matters
Growth is concentrated in mortgage-linked borrowing as homeowners tap accumulated home equity, which can lower the cost of credit compared with unsecured cards but puts the home itself on the line. Meanwhile, the easing of bankcard delinquencies suggests that households carrying credit card balances are, on average, keeping up with payments better than a year ago.
Total consumer debt of $18.56 trillion rose 2.9% from September 2025, while HELOC balances climbed 13.3% to $461.9 billion over the same period. Bankcard severe delinquencies fell to 2.74%, down 9 basis points from a year earlier.
The players
Equifax
A major consumer credit reporting agency whose Market Pulse reports track household debt, delinquencies and credit trends that shape how lenders price loans.
The details
Total consumer debt includes mortgages, HELOCs and non-mortgage balances, and the growth in this period came mainly from mortgage-related borrowing. HELOCs let homeowners borrow against the equity in their property, typically at variable rates, so rising balances mean more households are drawing on home value. Non-mortgage consumer debt reached $4.79 trillion, made up of $1.745 trillion in auto loans, $1.287 trillion in student loans and $1.126 trillion in bankcards. Year-to-date non-mortgage write-offs totaled $104.9 billion, a figure that reflects debt lenders have given up on collecting.
Timeline
September 2025: prior-year baseline for the consumer debt and HELOC comparisons
August 2026: HELOC balance baseline for the month-over-month change
September 2026: total consumer debt reached $18.56 trillion and the latest HELOC and non-mortgage figures were reported
Q3 2026: Equifax Market Pulse third-quarter consumer credit report released
Money Landscape
Consumer borrowing has continued to expand at a steady pace, with the post-pandemic credit cycle now showing growth led by home-equity borrowing rather than unsecured cards. Bankcard delinquency improving from last year marks a turn in the direction of household credit stress that is worth watching against the rate environment.
If you carry a credit card balance, the easing of bankcard delinquencies signals that lenders are seeing fewer missed payments, which can be a useful moment to compare card APRs and consider whether a balance transfer or consolidation makes sense. If you have a HELOC or are considering one, the 13.3% rise in balances is a reminder to review the variable rate and how much equity you are drawing against. Talk with a qualified financial professional before making changes to your borrowing.
The takeaway
Household borrowing is growing fastest through home equity, while credit card stress has eased, so the balance between the two is shifting. Check the APR on any card or HELOC you carry, since variable rates on these lines move with broader interest rate changes.
Further reading
For more on how card balances and delinquencies work, see our Credit Cards coverage.
Source note: This article includes information reported by Mecklenburg Times.
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