- Student Loan Debt Is Keeping Adult Kids From Leaving the Nest
- The Crime Americans Worry About Most Is the Hacking a Credit Card
- 64 Countries Have a Smaller Gender Pay Gap Than the US, Study Says
- Does Money Lingo Make Your Head Spin? Here’s What It Really Means
- Budget from 1987 Tells the Tale: Americans Are Severely Underpaid
- Trick-or-Treaters Want Cash, Not Treats
- Fast-Food Workers (McDonald’s Included) Earn $20 an Hour in Denmark
- Delinquent Doctors Publicly Outed for Unpaid Student Loans
They say the number of people more than a month behind on bank-issued credit card payments is down to 2.75 percent – the lowest delinquency rate in 18 years. The 15-year average is 3.87 percent. Just four years ago, it was above 5 percent.
Delinquencies on property improvement loans, home equity loans, and home equity lines of credit dropped in the last quarter of 2012 for the first time in over a year. Auto and mobile home loan delinquencies were up slightly.
ABA chief economist James Chessen said, “While this conservative approach to credit may slow economic growth in the short-term, it portends stronger, more consistent growth in the future. The sharp decline in delinquencies reinforces the notion that the economic recovery has become more self-sustaining and is on a path to increased growth.”