The Latest Data on Auto Loans

New York Fed’s Center for Microeconomic Data recently released their quarterly report on household debt and credit; in Q4, household debt increased $32 billion, a modest increase mostly due to slower growth in mortgage balances; auto loans increased $9 billion; growth in auto loans was driven by those with scores over 720 as originations of those with lower credit scores has leveled off; however performance of auto loans continues to slowly worsen despite this; in the fourth quarter loans that became 90+ days delinquent increased to 2.4%; the article further delves into all of the data around auto loans. Source

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