Which loans are weighing most on US consumers?

For more insights and key statistics on the biggest trends in today's most disruptive industries, subscribe to our Chart of the Day newsletter.

The majority of US consumers are shouldering loan debt, with 61.1% holding one or more loan accounts with an outstanding balance. The most common types of accounts to have an outstanding balance are mortgages (33.3%) and auto loans (31.0%).

Beyond the chart: Millennials and Gen Xers are more likely to have loan balances than any other age demographic, especially for mortgages, as consumers buy houses at a pace not seen since before the Great Recession. We estimate the US mortgage debt balance will approach $15 trillion in 2023, though that number could change if the Federal Reserve continues to raise interest rates, as Wall Street predicts.

More like this:

• Report: The Bank in 2025
• Article: Bank of America casts a wider net with secured small-business card
• Article: Philadelphia advances toward creating a public bank