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New York Fed: Household debt at highest level since 2010

Household borrowing in the U.S. climbed to its highest level since 2010 in the third quarter, driven by increases in mortgage lending, auto loans, student loans and credit cards, according to the New York Federal Reserve.

Household debt climbed by $212 billion to $12.07 trillion. Mortgage debt surged $144 billion, marking the second biggest rise since 2007. And mortgage originations rose to $502 billion, the highest in nearly two years.

Mortgage debt payment
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Though household debt rose, foreclosures hit a new 17-year low.

Auto loans climbed for the 18th straight quarter. Auto loan debt rose by $39 billion to $1.05 trillion, the biggest increase since 2005.

The data painted a grim picture for student loan holders. Student loans hit a new record of $1.2 trillion in the quarter.

The delinquency rate on student debt rose for the second-straight quarter to 11.6 percent.

CNBC's JeeYeon Park and Steve Liesman contributed to this report