October Economic Update covers loan delinquency trends

CUNA Chief Economist Mike Schenk discusses loan delinquency trends in America in this month’s Economic Update, and breaks down current metrics such as household debt as a percent of disposable income and the financial health of Americans.

“Credit unions tend to be more careful lenders. As not-for-profit cooperatives, owned by their members, they are less likely to make abusive loans and more likely to make loans in their members’ best interest,” he said.

Highlights include:

• Mortgage delinquencies: With data obtained by Equifax, CUNA economists have found ‘slight upward movements’ in mortgage delinquency rates.

 

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