American household debt reached a new record high in the third quarter.

The Federal Reserve Bank of New York reported total debt balances rose to $18.59 trillion between July and September, a $197 billion increase from the previous quarter.

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Mortgage debt grew by $137 billion to $13.07 trillion. Credit card balances jumped $24 billion and are now 5.75% higher than a year ago.

Delinquency rates remain elevated, with 4.5% of debt in some stage of late payment.

The report said that student loan balances rose by $15 billion and now stand at $1.65 trillion.

The median credit score for new auto loans remained steady, but the report also found that some tightening of subprime lending standards.