Consumer Loan Delinquency Rates Rise in Q2
Washington, DC, Oct. 7, 2011 -- Consumer loan delinquency rates rose in the second quarter, according to the American Bankers Association.
According to ABA, delinquencies rose in nine of 11 loan categories, led by home-equity loans.
“Lackluster job creation, private sector uncertainty and public sector job cuts have stalled momentum and increased pressure on consumers as the economy struggles to find a way forward,” said James Chessen, ABA’s chief economist, in a press release.
Home-equity-loan delinquencies rose to 4.38% in the second quarter from 4.12% in the first quarter.
Personal-loan delinquencies rose to 3.12% from 3.05%.
Property-improvement-loan delinquencies rose to 1.07% from 1.02%.