Household Mortgage Debt Increasing

In Q2 2025, total mortgage debt increased to $12.94 trillion – roughly $1.27 trillion below the all-time high, according to WalletHub’s Household Debt Report. 

The total mortgage debt in the U.S. has fluctuated occasionally over the past decade, but it has generally increased at a steady rate. In the last year, mortgage debt saw the following changes: 

• Q1 2025: $12.91 trillion 
• Q4 2024: $12.88 trillion 
• Q3 2024: $12.88 trillion 
• Q2 2024: $12.85 trillion 

At the end of Q2 2025, the average American household had $107,384 in mortgage debt. This was $14,238 below the record ($121,622 in 2008) and only a slight increase from $107,084 in Q2 2024. 

Across all forms of household debt (including auto, student loan, credit card, etc.), the average household owed $152,652 at the end of Q2 2025. Households across the U.S. owed a combined total of $18.39 trillion.