Total household debt outstanding in Q2 – mortgages, HELOCs, student loans, auto loans, credit card balances, and other consumer loans such as personal loans and BNPL loans – dipped by $23 billion, or by 0.1% from Q1, to $18.77 trillion, after having been nearly unchanged in Q1, according to the Household Debt and Credit Report from the New York Fed today, which obtained this data via its partnership with Equifax. The number of households has grown over the years, and in addition, the income per household has grown on average, and so total household income has grown faster than total household debt over the years, and the burden of this debt on household income has declined over the years, and it declined more sharply in Q2.