https://www.siliconvalley.com/2022/05/23/jill-on-money-should-you-buy-now-and-pay-later/

When the Federal Reserve Bank of New York released its report on household debt, the numbers were eye-popping. Total household debt in the first quarter of the year increased by 1.7% to $15.84 trillion, putting balances “$1.7 trillion higher than at the end of 2019, before the COVID-19 pandemic.”

The details showed that big jumps in mortgage and auto loans fueled the increase, as many rushed to lock in still-low interest rates before they began to rise.