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DeepNewz, mobile.
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Housing defaults, CMBS delinquency, consumer loan defaults, credit card delinquency, and aggregate delinquency rates have all risen to their highest levels in years. Interest rates remaining high are expected to exacerbate the situation.
Aggregate delinquency rates increased during the first quarter to 3.2% of outstanding debt in some stage of delinquency, the highest since the fourth quarter of 2020, according to the New York Fed
BREAKING: The percentage of credit card balances in serious delinquency (90 days or more late) climbed to its highest level since 2012, per the NYFed.
WARNING: Default rate on consumer loans have now hit the highest level since 2012 This is happening at a time when the consumer has run out of excess savings But still has to pay back record levels of credit card debt ht g.o.t. https://t.co/ThQhGCdUdY