The overall delinquency rate fell in the second quarter in a sign that household balance sheets on average remain resilient despite a decline in inflation-adjusted incomes. In a blog post accompanying the New York Fed’s report, staff economists said credit card delinquency rates in particular, while still elevated compared to the period before the pandemic, appear ​to have stabilized. An increase in the share of credit card debt more than 90 days past due, from 7.6% in late 2022 to 12.8% at the start of this year, prompted concerns about deteriorating household finances. Overall delinquency on all forms of credit fell slightly in the quarter, to 4.7% of outstanding balances versus 4.8% in the prior quarter. Despite cost-of-living pressures from areas such as gasoline, the share of households paying off their credit card bills in full each month has risen.