Here’s another sign of a consistently improving economy:
Americans are getting better at paying down their debts. According to a study
by the American Bankers Association that looked at eight different loan
categories, just 1.7 percent of all accounts were delinquent in the first
quarter of 2013. That’s down from 1.99 percent in the fourth quarter of 2012,
and significantly down from the 15-year average of 2.37 percent.
Bank-issued credit cards, which weren’t one of the categories in the ABA
study, look just as good. Their delinquency rate for the first quarter, 2.41
percent, was the lowest that figure has been since 1990. The figure had peaked
around 5 percent in 2009.
Only one loan category that the ABA looked at
showed an increase in delinquencies in the first quarter. That was loans taken out to
purchase mobile homes.
No comments:
Post a Comment