Another year is coming to a close, and now is the ideal time for lenders to look forward to 2020 and the opportunities the new year may bring. To help lenders prepare for a successful year ahead, TransUnion has put together our annual consumer credit forecast for the auto, credit card, mortgage and personal loan markets.
In the report, we take a look back at the 2019 consumer credit market and how it performed against our 2019 forecast. We also offer our predictions for consumer debt levels, originations, delinquency rates and credit performance in 2020.
Overall the U.S. consumer credit market is set to do well in 2020, buoyed by low unemployment rates, continued growth in GDP and high consumer confidence. We project serious delinquency rates will either decline or remain about the same for auto loans, credit cards, mortgages and unsecured personal loans.continue reading »