New York Fed: Americans’ household debt has hit a record $18.59 trillion

Americans are now carrying $18.59 trillion in debt, according to the New York Fed’s quarterly report on household debt. That’s a record high, as are four of five subcategories — mortgages, auto loans, student loans and credit cards. Only home equity borrowing isn’t at a record. Total household debt increased by $197 billion, or 1%, in the third quarter. Credit card balances rose by $24 billion to reach $1.23 trillion. Students have $1.65 trillion in loan debt. WalletHub n