Accessible Version
Introducing a Credit Bureau-Based Measure of U.S. Household Debt Service, Accessible Data
Figure 1. Ratio of Required Debt Service Payments to Disposable Income
Percent of disposable income
| Quarter | Old Methodology | Credit Bureau Methodology |
|---|---|---|
| 2005q1 | 12.62 | 14.80 |
| 2005q2 | 12.62 | 14.83 |
| 2005q3 | 12.67 | 15.14 |
| 2005q4 | 12.69 | 15.03 |
| 2006q1 | 12.72 | 14.99 |
| 2006q2 | 12.77 | 15.04 |
| 2006q3 | 12.89 | 15.37 |
| 2006q4 | 12.98 | 15.51 |
| 2007q1 | 13.01 | 15.53 |
| 2007q2 | 13.05 | 15.63 |
| 2007q3 | 13.16 | 15.71 |
| 2007q4 | 13.29 | 15.85 |
| 2008q1 | 13.19 | 15.78 |
| 2008q2 | 12.82 | 15.33 |
| 2008q3 | 12.88 | 15.55 |
| 2008q4 | 12.81 | 15.72 |
| 2009q1 | 12.70 | 15.60 |
| 2009q2 | 12.38 | 15.25 |
| 2009q3 | 12.25 | 15.09 |
| 2009q4 | 11.96 | 14.90 |
| 2010q1 | 11.67 | 14.51 |
| 2010q2 | 11.33 | 14.07 |
| 2010q3 | 11.14 | 13.92 |
| 2010q4 | 10.99 | 13.58 |
| 2011q1 | 10.80 | 13.31 |
| 2011q2 | 10.71 | 13.06 |
| 2011q3 | 10.59 | 12.94 |
| 2011q4 | 10.47 | 12.75 |
| 2012q1 | 10.26 | 12.23 |
| 2012q2 | 10.15 | 12.03 |
| 2012q3 | 10.22 | 12.08 |
| 2012q4 | 9.90 | 11.75 |
| 2013q1 | 10.26 | 12.00 |
| 2013q2 | 10.18 | 11.78 |
| 2013q3 | 10.14 | 11.82 |
| 2013q4 | 10.17 | 11.97 |
| 2014q1 | 10.10 | 11.87 |
| 2014q2 | 10.05 | 11.60 |
| 2014q3 | 10.02 | 11.62 |
| 2014q4 | 9.98 | 11.61 |
| 2015q1 | 10.00 | 11.53 |
| 2015q2 | 10.04 | 11.45 |
| 2015q3 | 10.10 | 11.57 |
| 2015q4 | 10.04 | 11.70 |
| 2016q1 | 10.00 | 11.72 |
| 2016q2 | 10.11 | 11.73 |
| 2016q3 | 10.16 | 11.72 |
| 2016q4 | 10.13 | 11.82 |
| 2017q1 | 10.08 | 11.67 |
| 2017q2 | 10.04 | 11.70 |
| 2017q3 | 10.03 | 11.75 |
| 2017q4 | 10.03 | 11.74 |
| 2018q1 | 9.97 | 11.58 |
| 2018q2 | 9.92 | 11.53 |
| 2018q3 | 9.90 | 11.55 |
| 2018q4 | 9.93 | 11.60 |
| 2019q1 | 9.90 | 11.44 |
| 2019q2 | 9.95 | 11.57 |
| 2019q3 | 9.97 | 11.58 |
| 2019q4 | 9.97 | 11.65 |
| 2020q1 | 9.90 | 11.51 |
| 2020q2 | 8.93 | 9.68 |
| 2020q3 | 9.19 | 10.00 |
| 2020q4 | 9.37 | 10.32 |
| 2021q1 | 8.31 | 9.02 |
| 2021q2 | 9.13 | 9.82 |
| 2021q3 | 9.36 | 10.00 |
| 2021q4 | 9.49 | 10.25 |
| 2022q1 | 9.73 | 10.45 |
| 2022q2 | 9.79 | 10.65 |
| 2022q3 | 9.83 | 10.60 |
| 2022q4 | 9.89 | 10.82 |
| 2023q1 | 9.71 | 10.66 |
| 2023q2 | 9.70 | 10.72 |
| 2023q3 | 9.77 | 10.93 |
| 2023q4 | 9.80 | 11.36 |
| 2024q1 | 9.80 | 11.38 |
Source: For credit bureau methodology, Equifax/Federal Reserve Board of New York Consumer Credit Panel and the Bureau of Economic Analysis. For the old methodology, the Federal Reserve Board.
Figure 2. Ratios of Mortgage and Consumer Debt Payments to Disposable Income
Mortgage DSR
Percent of disposable income
| Quarter | Old Methodology | Credit Bureau Methodology |
|---|---|---|
| 2005q1 | 6.27 | 7.50 |
| 2005q2 | 6.32 | 7.59 |
| 2005q3 | 6.45 | 7.88 |
| 2005q4 | 6.54 | 7.72 |
| 2006q1 | 6.58 | 7.90 |
| 2006q2 | 6.75 | 8.11 |
| 2006q3 | 6.91 | 8.34 |
| 2006q4 | 7.01 | 8.46 |
| 2007q1 | 7.05 | 8.55 |
| 2007q2 | 7.07 | 8.72 |
| 2007q3 | 7.15 | 8.85 |
| 2007q4 | 7.25 | 8.95 |
| 2008q1 | 7.17 | 8.91 |
| 2008q2 | 6.96 | 8.62 |
| 2008q3 | 7.00 | 8.76 |
| 2008q4 | 6.95 | 8.83 |
| 2009q1 | 6.90 | 8.74 |
| 2009q2 | 6.74 | 8.55 |
| 2009q3 | 6.67 | 8.41 |
| 2009q4 | 6.54 | 8.30 |
| 2010q1 | 6.37 | 8.14 |
| 2010q2 | 6.20 | 7.93 |
| 2010q3 | 6.10 | 7.85 |
| 2010q4 | 5.96 | 7.57 |
| 2011q1 | 5.73 | 7.50 |
| 2011q2 | 5.66 | 7.38 |
| 2011q3 | 5.57 | 7.21 |
| 2011q4 | 5.45 | 7.05 |
| 2012q1 | 5.30 | 6.80 |
| 2012q2 | 5.21 | 6.68 |
| 2012q3 | 5.19 | 6.62 |
| 2012q4 | 4.98 | 6.40 |
| 2013q1 | 5.08 | 6.52 |
| 2013q2 | 4.98 | 6.40 |
| 2013q3 | 4.92 | 6.37 |
| 2013q4 | 4.90 | 6.40 |
| 2014q1 | 4.81 | 6.38 |
| 2014q2 | 4.73 | 6.22 |
| 2014q3 | 4.67 | 6.23 |
| 2014q4 | 4.60 | 6.14 |
| 2015q1 | 4.58 | 6.11 |
| 2015q2 | 4.54 | 6.02 |
| 2015q3 | 4.52 | 6.05 |
| 2015q4 | 4.53 | 6.02 |
| 2016q1 | 4.50 | 6.08 |
| 2016q2 | 4.50 | 6.06 |
| 2016q3 | 4.48 | 5.98 |
| 2016q4 | 4.41 | 5.97 |
| 2017q1 | 4.36 | 5.97 |
| 2017q2 | 4.32 | 5.95 |
| 2017q3 | 4.30 | 5.96 |
| 2017q4 | 4.28 | 5.92 |
| 2018q1 | 4.24 | 5.90 |
| 2018q2 | 4.22 | 5.86 |
| 2018q3 | 4.19 | 5.89 |
| 2018q4 | 4.21 | 5.89 |
| 2019q1 | 4.18 | 5.82 |
| 2019q2 | 4.18 | 5.92 |
| 2019q3 | 4.17 | 5.88 |
| 2019q4 | 4.15 | 5.89 |
| 2020q1 | 4.11 | 5.89 |
| 2020q2 | 3.77 | 5.01 |
| 2020q3 | 3.87 | 5.20 |
| 2020q4 | 3.94 | 5.37 |
| 2021q1 | 3.47 | 4.76 |
| 2021q2 | 3.77 | 5.19 |
| 2021q3 | 3.83 | 5.30 |
| 2021q4 | 3.87 | 5.45 |
| 2022q1 | 3.94 | 5.63 |
| 2022q2 | 3.96 | 5.68 |
| 2022q3 | 3.99 | 5.61 |
| 2022q4 | 4.02 | 5.68 |
| 2023q1 | 3.94 | 5.64 |
| 2023q2 | 3.94 | 5.62 |
| 2023q3 | 3.99 | 5.72 |
| 2023q4 | 4.02 | 5.78 |
| 2024q1 | 4.02 | 5.84 |
Consumer DSR
Percent of disposable income
| Quarter | Old Methodology | Credit Bureau Methodology |
|---|---|---|
| 2005q1 | 6.35 | 7.30 |
| 2005q2 | 6.30 | 7.24 |
| 2005q3 | 6.23 | 7.26 |
| 2005q4 | 6.15 | 7.31 |
| 2006q1 | 6.14 | 7.09 |
| 2006q2 | 6.02 | 6.94 |
| 2006q3 | 5.98 | 7.03 |
| 2006q4 | 5.97 | 7.05 |
| 2007q1 | 5.96 | 6.98 |
| 2007q2 | 5.98 | 6.92 |
| 2007q3 | 6.01 | 6.86 |
| 2007q4 | 6.04 | 6.89 |
| 2008q1 | 6.03 | 6.86 |
| 2008q2 | 5.86 | 6.70 |
| 2008q3 | 5.89 | 6.79 |
| 2008q4 | 5.86 | 6.90 |
| 2009q1 | 5.80 | 6.86 |
| 2009q2 | 5.63 | 6.71 |
| 2009q3 | 5.58 | 6.68 |
| 2009q4 | 5.42 | 6.60 |
| 2010q1 | 5.30 | 6.38 |
| 2010q2 | 5.13 | 6.14 |
| 2010q3 | 5.04 | 6.07 |
| 2010q4 | 5.03 | 6.01 |
| 2011q1 | 5.07 | 5.81 |
| 2011q2 | 5.05 | 5.68 |
| 2011q3 | 5.02 | 5.74 |
| 2011q4 | 5.02 | 5.69 |
| 2012q1 | 4.96 | 5.43 |
| 2012q2 | 4.95 | 5.35 |
| 2012q3 | 5.03 | 5.46 |
| 2012q4 | 4.92 | 5.34 |
| 2013q1 | 5.19 | 5.48 |
| 2013q2 | 5.20 | 5.38 |
| 2013q3 | 5.23 | 5.45 |
| 2013q4 | 5.27 | 5.57 |
| 2014q1 | 5.29 | 5.49 |
| 2014q2 | 5.31 | 5.38 |
| 2014q3 | 5.36 | 5.40 |
| 2014q4 | 5.38 | 5.46 |
| 2015q1 | 5.42 | 5.42 |
| 2015q2 | 5.50 | 5.44 |
| 2015q3 | 5.58 | 5.52 |
| 2015q4 | 5.51 | 5.68 |
| 2016q1 | 5.51 | 5.64 |
| 2016q2 | 5.61 | 5.67 |
| 2016q3 | 5.69 | 5.74 |
| 2016q4 | 5.72 | 5.84 |
| 2017q1 | 5.72 | 5.71 |
| 2017q2 | 5.72 | 5.74 |
| 2017q3 | 5.73 | 5.78 |
| 2017q4 | 5.76 | 5.82 |
| 2018q1 | 5.74 | 5.68 |
| 2018q2 | 5.70 | 5.67 |
| 2018q3 | 5.71 | 5.66 |
| 2018q4 | 5.72 | 5.71 |
| 2019q1 | 5.72 | 5.62 |
| 2019q2 | 5.77 | 5.65 |
| 2019q3 | 5.80 | 5.70 |
| 2019q4 | 5.83 | 5.76 |
| 2020q1 | 5.79 | 5.62 |
| 2020q2 | 5.17 | 4.67 |
| 2020q3 | 5.33 | 4.80 |
| 2020q4 | 5.43 | 4.94 |
| 2021q1 | 4.84 | 4.27 |
| 2021q2 | 5.36 | 4.62 |
| 2021q3 | 5.53 | 4.70 |
| 2021q4 | 5.62 | 4.80 |
| 2022q1 | 5.78 | 4.82 |
| 2022q2 | 5.83 | 4.96 |
| 2022q3 | 5.83 | 4.99 |
| 2022q4 | 5.88 | 5.14 |
| 2023q1 | 5.77 | 5.02 |
| 2023q2 | 5.76 | 5.09 |
| 2023q3 | 5.78 | 5.21 |
| 2023q4 | 5.78 | 5.58 |
| 2024q1 | 5.78 | 5.55 |
Source: For credit bureau methodology, Equifax/Federal Reserve Board of New York Consumer Credit Panel and the Bureau of Economic Analysis. For the old methodology, the Federal Reserve Board.
Last Update:
September 04, 2024