Consumer debt in Colorado above national average, but delinquency rate lower

Average consumer debt in Colorado, excluding first mortgages, was $18,816 during the third quarter, compared with $17,205 for the United States as a whole, according to the Federal Reserve Bank of Kansas City’s latest Consumer Credit Reports.

While consumers in Colorado may have more debt, the delinquency rate for consumer debt in the state was 3.2 percent in the third quarter, a decline of 0.1 percentage point. Nationally, the delinquency rate was 5.8 percent, a decline of 0.2 percentage point.

Average Consumer debt across the seven states of the Tenth Federal Reserve District that includes Colorado remained relatively steady at $16,105 during…