Figure of delinquency rates on selected types of household loans, 1998-2006. Data are plotted as three curves. The delinquency rate on credit card pools begins near 5 percent in 1998. It then generally falls to about 4.5 percent by 2000, rises to 5 percent in 2002 and 2003, and then falls to near 3.75 percent by the end of 2005, where it generally remains through the third quarter of 2006. The delinquency rate on auto loans begins around 3 percent in 1998 and then generally falls to a little over 2 percent by late 1999, where it remains through the third quarter of 2006. The delinquency rate on mortgages is about 1.25 percent in 1998. It then rises gradually to near 2 percent by 2002 and fluctuates within a narrow range around 2 percent through the third quarter of 2006.

Note: The data are quarterly. The data for credit card pools and mortgages extend through 2006:Q3; the rate for auto loans extends through 2006:Q4. Source: For credit cards, Moody's Investors Service; for auto loans, the financing subsidiaries of the three major U.S. automobile manufacturers; for mortgages, Mortgage Bankers Association.