Post #143 by BenSolar on the Macroeconomic Trends and Risks board

Personal Finance Topics / Macroeconomic Trends and Risks

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Hi Jeff,

Thanks for the commentary.

The second link you provide indicates that
"
-The rate of new credit card delinquencies has surpassed its pre-COVID level, clocking in at 7.2% in the second quarter, per a report out this month from the New York Fed.

-Auto loan delinquencies were at 7.3% in Q2, also higher than pre-pandemic levels.

-Meanwhile, mortgage delinquencies remain very low.
"

https://www.axios.com/2023/08/15/credit-loan-delin...

So maybe people are just starting to be delinquent, rather than 90+ days delinquent as tracked in your first link?

The Axios story goes on to say:
"
Returning to pre-COVID delinquency levels isn't something to stress over at the moment ' delinquency rates on credit cards before 2020 were relatively low thanks to the strong job market.
"

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