Accessible Version

A Note on Recent Dynamics of Consumer Delinquency Rates, Accessible Data

Figure 1: Credit Card and Auto Loan Delinquency Rates

Percent
Quarterly, s.a.

Date Credit Card Delinquency Rate Auto Loan Delinquency Rate
3/31/2000 4.42 3.27
6/30/2000 4.40 3.39
9/30/2000 4.62 3.41
12/31/2000 4.63 3.41
3/31/2001 5.11 3.63
6/30/2001 5.54 3.47
9/30/2001 5.58 3.61
12/31/2001 5.89 3.63
3/31/2002 5.86 3.61
6/30/2002 5.74 3.60
9/30/2002 5.76 3.62
12/31/2002 5.90 3.58
3/31/2003 5.97 3.53
6/30/2003 6.03 3.46
9/30/2003 5.87 3.13
12/31/2003 5.50 3.02
3/31/2004 5.30 2.99
6/30/2004 5.08 2.86
9/30/2004 4.79 2.99
12/31/2004 4.78 2.90
3/31/2005 4.55 2.83
6/30/2005 4.32 2.86
9/30/2005 4.46 2.81
12/31/2005 3.94 2.96
3/31/2006 4.09 3.06
6/30/2006 4.38 3.24
9/30/2006 4.46 3.35
12/31/2006 4.45 3.42
3/31/2007 4.25 3.41
6/30/2007 4.41 3.52
9/30/2007 4.68 3.67
12/31/2007 4.89 3.83
3/31/2008 4.97 4.02
6/30/2008 5.21 4.24
9/30/2008 5.38 4.36
12/31/2008 5.99 4.52
3/31/2009 6.86 4.57
6/30/2009 7.17 4.54
9/30/2009 6.88 4.53
12/31/2009 6.63 4.29
3/31/2010 6.34 4.07
6/30/2010 5.96 3.84
9/30/2010 5.24 3.56
12/31/2010 4.86 3.37
3/31/2011 4.30 3.26
6/30/2011 3.92 3.05
9/30/2011 3.68 3.00
12/31/2011 3.60 2.87
3/31/2012 3.42 2.73
6/30/2012 3.39 2.79
9/30/2012 3.15 2.72
12/31/2012 3.05 2.77
3/31/2013 2.94 2.81
6/30/2013 2.82 2.77
9/30/2013 2.81 2.80
12/31/2013 2.63 2.80
3/31/2014 2.54 2.86
6/30/2014 2.48 2.88
9/30/2014 2.46 2.93
12/31/2014 2.49 2.97
3/31/2015 2.40 2.90
6/30/2015 2.47 2.95
9/30/2015 2.46 3.02
12/31/2015 2.43 3.02
3/31/2016 2.46 3.08
6/30/2016 2.50 3.15
9/30/2016 2.61 3.09
12/31/2016 2.68 3.18
3/31/2017 2.73 3.08
6/30/2017 2.87 3.14
9/30/2017 3.02 3.17
12/31/2017 2.96 3.03
3/31/2018 2.94 3.05
6/30/2018 2.93 3.02
9/30/2018 3.04 2.95
12/31/2018 3.02 2.98
3/31/2019 3.05 2.98
6/30/2019 3.09 2.98
9/30/2019 3.20 3.02
12/31/2019 3.19 2.99
3/31/2020 3.17 3.01
6/30/2020 2.82 2.35
9/30/2020 2.49 2.32
12/31/2020 2.48 2.35
3/31/2021 2.32 2.33
6/30/2021 1.94 2.22
9/30/2021 1.92 2.34
12/31/2021 2.02 2.42
3/31/2022 2.16 2.63
6/30/2022 2.24 2.78
9/30/2022 2.45 2.94
12/31/2022 2.79 3.24
3/31/2023 3.07 3.27
6/30/2023 3.49 3.55
9/30/2023 3.75 3.61
12/31/2023 3.93 3.63
3/31/2024 4.04 3.78
6/30/2024 4.15 3.79
9/30/2024 4.25 3.78
12/31/2024 4.04 3.80
3/31/2025 3.99 3.83
6/30/2025 4.14 3.83
9/30/2025 4.03 3.88

Note: Delinquency rate measures the fraction of balances that are at least 30 days past due, excluding severe derogatory balances. Data are seasonally adjusted.

Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax.

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Figure 2: The Credit Score Distribution

Percent of borrowers
Quarterly

Date Share of Subprime Borrowers Share of Nearprime Borrowers Share of Prime Borrowers
3/31/2003 27.97 26.84 45.19
6/30/2003 27.68 26.78 45.54
9/30/2003 27.68 26.89 45.44
12/31/2003 27.78 27.01 45.21
3/31/2004 28.02 26.83 45.14
6/30/2004 27.73 26.87 45.40
9/30/2004 27.65 26.73 45.61
12/31/2004 27.74 26.22 46.04
3/31/2005 27.44 26.08 46.48
6/30/2005 27.09 26.13 46.78
9/30/2005 27.32 25.82 46.86
12/31/2005 27.47 25.71 46.82
3/31/2006 27.14 25.74 47.12
6/30/2006 27.08 25.52 47.40
9/30/2006 27.21 25.49 47.30
12/31/2006 27.26 25.49 47.25
3/31/2007 27.13 25.50 47.37
6/30/2007 27.08 25.10 47.82
9/30/2007 27.28 24.89 47.83
12/31/2007 27.50 24.69 47.81
3/31/2008 27.36 24.50 48.14
6/30/2008 27.27 24.09 48.64
9/30/2008 27.24 24.25 48.51
12/31/2008 27.53 24.11 48.36
3/31/2009 27.40 23.76 48.84
6/30/2009 27.24 23.85 48.91
9/30/2009 27.40 24.00 48.61
12/31/2009 27.43 24.11 48.46
3/31/2010 27.32 24.07 48.62
6/30/2010 27.07 24.27 48.66
9/30/2010 27.07 24.52 48.41
12/31/2010 26.94 24.86 48.20
3/31/2011 26.53 24.95 48.52
6/30/2011 26.31 25.11 48.58
9/30/2011 26.31 25.19 48.50
12/31/2011 26.40 25.35 48.25
3/31/2012 26.09 25.42 48.49
6/30/2012 25.77 25.51 48.72
9/30/2012 25.72 25.54 48.74
12/31/2012 25.71 25.68 48.61
3/31/2013 25.25 25.85 48.89
6/30/2013 24.85 26.12 49.03
9/30/2013 24.68 27.18 48.14
12/31/2013 24.49 27.27 48.23
3/31/2014 24.08 27.27 48.65
6/30/2014 23.67 27.38 48.95
9/30/2014 23.57 27.39 49.04
12/31/2014 23.67 27.48 48.85
3/31/2015 23.26 27.43 49.31
6/30/2015 23.09 27.34 49.58
9/30/2015 23.13 27.14 49.73
12/31/2015 23.00 27.33 49.67
3/31/2016 22.59 27.16 50.25
6/30/2016 22.38 27.01 50.61
9/30/2016 22.49 26.81 50.70
12/31/2016 22.57 26.75 50.68
3/31/2017 22.34 26.46 51.20
6/30/2017 22.24 26.26 51.49
9/30/2017 22.33 26.15 51.52
12/31/2017 22.09 26.29 51.62
3/31/2018 21.67 26.05 52.28
6/30/2018 21.47 25.77 52.75
9/30/2018 21.63 25.57 52.80
12/31/2018 21.79 25.48 52.73
3/31/2019 21.53 25.21 53.26
6/30/2019 21.82 25.37 52.81
9/30/2019 21.92 25.29 52.80
12/31/2019 22.11 25.17 52.73
3/31/2020 21.89 24.89 53.22
6/30/2020 20.63 25.02 54.35
9/30/2020 19.93 25.27 54.80
12/31/2020 19.41 25.60 54.99
3/31/2021 18.61 25.53 55.86
6/30/2021 17.95 25.72 56.33
9/30/2021 17.83 25.74 56.43
12/31/2021 17.80 25.78 56.42
3/31/2022 17.64 25.49 56.87
6/30/2022 17.90 25.25 56.85
9/30/2022 18.03 25.00 56.97
12/31/2022 18.30 24.95 56.75
3/31/2023 18.03 24.87 57.11
6/30/2023 17.85 24.70 57.45
9/30/2023 18.10 24.58 57.32
12/31/2023 18.44 24.38 57.18
3/31/2024 18.51 24.13 57.35
6/30/2024 18.52 24.01 57.47
9/30/2024 18.72 23.91 57.37
12/31/2024 19.03 23.96 57.01
3/31/2025 19.60 23.22 57.18
6/30/2025 19.95 22.93 57.13
9/30/2025 20.01 23.07 56.92

Note: Subprime is less than 620, near prime is between 620 and 719, prime is greater than 719. Credit scores are measured contemporaneously. The black line in 2020:Q1 marks the approximate start of the Covid-19 pandemic.

Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax

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Figure 3: Year-Over-Year Changes in the Delinquency Rates

Figure 3a. Year-Over-Year Change in the Credit Card Delinquency Rate
Percent
Quarterly

Date Year-Over-Year Change in the Credit Card Delinquency Rate
3/31/2001 0.71
6/30/2001 1.09
9/30/2001 0.95
12/31/2001 1.29
3/31/2002 0.77
6/30/2002 0.20
9/30/2002 0.18
12/31/2002 0.01
3/31/2003 0.10
6/30/2003 0.27
9/30/2003 0.11
12/31/2003 -0.40
3/31/2004 -0.70
6/30/2004 -0.91
9/30/2004 -1.07
12/31/2004 -0.74
3/31/2005 -0.78
6/30/2005 -0.73
9/30/2005 -0.32
12/31/2005 -0.85
3/31/2006 -0.47
6/30/2006 0.06
9/30/2006 0.00
12/31/2006 0.53
3/31/2007 0.16
6/30/2007 0.03
9/30/2007 0.21
12/31/2007 0.46
3/31/2008 0.75
6/30/2008 0.76
9/30/2008 0.67
12/31/2008 1.14
3/31/2009 1.96
6/30/2009 1.87
9/30/2009 1.46
12/31/2009 0.67
3/31/2010 -0.53
6/30/2010 -1.16
9/30/2010 -1.60
12/31/2010 -1.81
3/31/2011 -2.11
6/30/2011 -1.96
9/30/2011 -1.53
12/31/2011 -1.30
3/31/2012 -0.91
6/30/2012 -0.50
9/30/2012 -0.52
12/31/2012 -0.57
3/31/2013 -0.49
6/30/2013 -0.55
9/30/2013 -0.33
12/31/2013 -0.43
3/31/2014 -0.41
6/30/2014 -0.33
9/30/2014 -0.34
12/31/2014 -0.13
3/31/2015 -0.14
6/30/2015 -0.02
9/30/2015 0.00
12/31/2015 -0.06
3/31/2016 0.07
6/30/2016 0.03
9/30/2016 0.16
12/31/2016 0.27
3/31/2017 0.29
6/30/2017 0.34
9/30/2017 0.41
12/31/2017 0.30
3/31/2018 0.23
6/30/2018 0.04
9/30/2018 0.00
12/31/2018 0.06
3/31/2019 0.12
6/30/2019 0.14
9/30/2019 0.15
12/31/2019 0.19
3/31/2020 0.14
6/30/2020 -0.26
9/30/2020 -0.70
12/31/2020 -0.74
3/31/2021 -0.89
6/30/2021 -0.82
9/30/2021 -0.56
12/31/2021 -0.49
3/31/2022 -0.17
6/30/2022 0.38
9/30/2022 0.72
12/31/2022 0.81
3/31/2023 0.94
6/30/2023 1.06
9/30/2023 1.06
12/31/2023 1.19
3/31/2024 1.00
6/30/2024 0.62
9/30/2024 0.49
12/31/2024 0.12
3/31/2025 -0.05
6/30/2025 -0.01
9/30/2025 -0.22

Figure 3b. Year-Over-Year Change in the Auto Loan Delinquency Rate
Percent
Quarterly

Date Year-Over-Year Change in the Auto Loan Delinquency Rate
3/31/2001 0.42
6/30/2001 0.03
9/30/2001 0.19
12/31/2001 0.27
3/31/2002 0.06
6/30/2002 0.07
9/30/2002 -0.03
12/31/2002 -0.08
3/31/2003 -0.19
6/30/2003 0.06
9/30/2003 -0.47
12/31/2003 -0.62
3/31/2004 -0.65
6/30/2004 -0.62
9/30/2004 -0.06
12/31/2004 -0.02
3/31/2005 -0.12
6/30/2005 -0.08
9/30/2005 -0.22
12/31/2005 0.07
3/31/2006 0.09
6/30/2006 0.49
9/30/2006 0.61
12/31/2006 0.54
3/31/2007 0.30
6/30/2007 0.20
9/30/2007 0.32
12/31/2007 0.43
3/31/2008 0.69
6/30/2008 0.60
9/30/2008 0.72
12/31/2008 0.70
3/31/2009 0.44
6/30/2009 0.38
9/30/2009 0.21
12/31/2009 -0.26
3/31/2010 -0.36
6/30/2010 -0.74
9/30/2010 -1.05
12/31/2010 -1.01
3/31/2011 -0.83
6/30/2011 -0.68
9/30/2011 -0.56
12/31/2011 -0.51
3/31/2012 -0.51
6/30/2012 -0.27
9/30/2012 -0.32
12/31/2012 -0.08
3/31/2013 0.18
6/30/2013 -0.08
9/30/2013 0.06
12/31/2013 0.01
3/31/2014 -0.04
6/30/2014 0.17
9/30/2014 0.20
12/31/2014 0.22
3/31/2015 0.01
6/30/2015 0.03
9/30/2015 0.08
12/31/2015 0.06
3/31/2016 0.21
6/30/2016 0.22
9/30/2016 0.05
12/31/2016 0.12
3/31/2017 -0.06
6/30/2017 0.08
9/30/2017 0.09
12/31/2017 -0.17
3/31/2018 0.10
6/30/2018 -0.24
9/30/2018 -0.27
12/31/2018 -0.05
3/31/2019 -0.08
6/30/2019 -0.02
9/30/2019 0.05
12/31/2019 0.07
3/31/2020 0.08
6/30/2020 -0.67
9/30/2020 -0.75
12/31/2020 -0.62
3/31/2021 -0.56
6/30/2021 -0.19
9/30/2021 -0.02
12/31/2021 0.05
3/31/2022 0.23
6/30/2022 0.87
9/30/2022 0.93
12/31/2022 0.86
3/31/2023 0.54
6/30/2023 0.63
9/30/2023 0.40
12/31/2023 0.31
3/31/2024 0.54
6/30/2024 0.14
9/30/2024 0.21
12/31/2024 0.16
3/31/2025 -0.05
6/30/2025 0.09
9/30/2025 0.13

Note: Delinquency rate measures the fraction of balances that are at least 30 days past due, excluding severely derogatory loans. Series in this figure are constructed by differencing the delinquency rate with its value one year prior.

Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax

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Figure 4: Cumulative Auto Loan Delinquency by Vintage

Percent
Quarterly

Quarters since origination 2011-2019 Vintage Average 2020 Vintage 2021 Vintage 2022 Vintage 2023 Vintage 2024 Vintage
0 0.1 0.0 0.0 0.1 0.0 0.1
1 1.1 1.0 1.2 1.5 1.4 1.2
2 2.4 2.1 2.6 3.2 3.0 2.6
3 3.6 2.8 4.1 4.9 4.4 4.0
4 4.8 3.7 5.3 6.5 5.7 5.4
5 5.8 4.6 6.7 7.7 7.0  
6 6.7 5.3 7.5 8.8 7.9  
7 7.3 6.1 8.4 9.7 8.9  
8 8.0 6.7 9.2 10.7 9.8  
9 8.6 7.3 10.0 11.5    
10 9.1 7.8 10.5 12.1    
11 9.5 8.2 11.0 12.9    
12 9.9 8.6 11.6 13.5    
13 10.3 9.1 12.2      
14 10.6 9.5 12.5      
15 10.8 9.7 12.9      
16 11.0 10.0 13.2      
17 11.2 10.3        
18 11.4 10.5        
19 11.5 10.7        
20 11.6 10.9        
21 11.8          
22 11.9          
23 12.0          
24 12.1          

Note: By origination vintage. For brevity, figure only includes loans originated in Q3 of each year.

Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax.

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Figure 5: Delinquency Rates Across the Credit Score Distribution

Figure 5a. Credit Card Delinquency Rates
Percent of Balances
Quarterly, s.a.

Date Subprime Credit Card Delinquency Rate Near Prime Credit Card Delinquency Rate Prime Credit Card Delnqinquency Rate
3/31/2000 14.56 2.93 0.63
6/30/2000 14.52 3.00 0.65
9/30/2000 15.29 3.13 0.61
12/31/2000 16.13 3.19 0.65
3/31/2001 17.18 3.72 0.71
6/30/2001 18.01 4.21 0.85
9/30/2001 18.39 4.07 0.88
12/31/2001 18.82 4.38 0.91
3/31/2002 18.74 4.23 0.90
6/30/2002 18.72 4.20 0.78
9/30/2002 19.23 4.04 0.74
12/31/2002 19.83 4.31 0.78
3/31/2003 20.50 4.30 0.83
6/30/2003 21.35 4.42 0.78
9/30/2003 21.12 4.30 0.78
12/31/2003 20.11 4.21 0.80
3/31/2004 19.51 4.17 0.77
6/30/2004 19.20 4.15 0.83
9/30/2004 18.77 3.92 0.75
12/31/2004 18.54 4.14 0.80
3/31/2005 18.24 3.94 0.75
6/30/2005 17.66 4.04 0.69
9/30/2005 17.37 4.20 0.77
12/31/2005 16.84 3.63 0.71
3/31/2006 17.20 4.00 0.83
6/30/2006 17.91 4.58 0.81
9/30/2006 18.19 4.47 0.88
12/31/2006 18.22 4.57 0.92
3/31/2007 18.28 4.47 0.83
6/30/2007 18.73 4.67 0.80
9/30/2007 19.09 4.91 0.96
12/31/2007 19.45 5.26 1.08
3/31/2008 19.55 5.64 1.08
6/30/2008 19.76 6.11 1.28
9/30/2008 20.11 6.31 1.37
12/31/2008 21.47 7.27 1.72
3/31/2009 22.84 8.65 2.16
6/30/2009 23.08 9.32 2.36
9/30/2009 22.85 8.69 2.29
12/31/2009 22.04 8.68 2.23
3/31/2010 21.76 8.07 2.18
6/30/2010 21.43 7.45 1.89
9/30/2010 20.37 6.39 1.62
12/31/2010 19.52 5.82 1.43
3/31/2011 18.41 5.22 1.31
6/30/2011 17.43 4.42 1.15
9/30/2011 16.76 4.22 1.00
12/31/2011 16.42 4.40 0.98
3/31/2012 15.82 4.24 1.05
6/30/2012 15.26 4.19 1.09
9/30/2012 14.54 3.91 0.94
12/31/2012 14.04 3.84 0.93
3/31/2013 14.01 3.62 0.92
6/30/2013 13.69 3.42 0.88
9/30/2013 13.24 3.46 0.85
12/31/2013 12.65 3.44 0.71
3/31/2014 12.37 3.31 0.71
6/30/2014 12.28 3.05 0.69
9/30/2014 11.99 3.14 0.68
12/31/2014 11.91 3.28 0.69
3/31/2015 11.31 3.19 0.72
6/30/2015 11.16 3.16 0.75
9/30/2015 11.33 3.27 0.62
12/31/2015 11.20 3.14 0.68
3/31/2016 10.96 3.23 0.74
6/30/2016 11.21 3.20 0.69
9/30/2016 11.61 3.23 0.68
12/31/2016 11.93 3.43 0.71
3/31/2017 12.32 3.66 0.73
6/30/2017 12.85 3.63 0.73
9/30/2017 13.32 3.76 0.79
12/31/2017 13.33 3.77 0.77
3/31/2018 13.20 3.79 0.80
6/30/2018 13.01 3.79 0.73
9/30/2018 13.05 3.94 0.73
12/31/2018 13.17 3.95 0.83
3/31/2019 13.36 4.17 0.83
6/30/2019 13.23 4.17 0.80
9/30/2019 13.40 4.26 0.85
12/31/2019 13.57 4.24 0.90
3/31/2020 13.62 4.32 0.89
6/30/2020 10.70 3.56 0.84
9/30/2020 9.90 3.25 0.71
12/31/2020 9.77 3.27 0.66
3/31/2021 9.29 2.98 0.66
6/30/2021 8.88 2.38 0.49
9/30/2021 9.27 2.33 0.47
12/31/2021 9.96 2.55 0.54
3/31/2022 10.96 2.89 0.60
6/30/2022 11.66 3.17 0.62
9/30/2022 12.42 3.68 0.67
12/31/2022 13.09 4.06 0.74
3/31/2023 14.17 4.73 0.82
6/30/2023 15.04 5.01 0.97
9/30/2023 15.68 5.38 1.06
12/31/2023 16.12 5.74 1.19
3/31/2024 16.10 6.10 1.28
6/30/2024 16.32 6.00 1.34
9/30/2024 16.61 6.22 1.29
12/31/2024 16.42 5.93 1.28
3/31/2025 16.14 6.00 1.26
6/30/2025 16.24 5.89 1.29
9/30/2025 16.28 5.67 1.28

Figure 5b. Auto Loan Delinquency Rates
Percent of Balances
Quarterly, s.a.

Date Subprime Auto Loan Delinquency Rate Near Prime Auto Loan Delinquency Rate Prime Auto Loan Delinquency Rate
3/31/2000 9.11 1.71 0.23
6/30/2000 9.54 1.61 0.21
9/30/2000 9.58 1.72 0.25
12/31/2000 9.73 1.69 0.23
3/31/2001 10.32 1.88 0.27
6/30/2001 9.71 1.84 0.26
9/30/2001 10.16 1.84 0.28
12/31/2001 10.35 1.88 0.30
3/31/2002 10.35 1.98 0.39
6/30/2002 10.58 1.69 0.25
9/30/2002 10.64 1.73 0.25
12/31/2002 10.62 1.81 0.22
3/31/2003 10.91 1.74 0.20
6/30/2003 10.73 1.73 0.21
9/30/2003 9.94 1.53 0.19
12/31/2003 9.66 1.49 0.22
3/31/2004 9.50 1.60 0.20
6/30/2004 9.21 1.49 0.23
9/30/2004 9.46 1.62 0.22
12/31/2004 9.31 1.58 0.18
3/31/2005 8.96 1.52 0.19
6/30/2005 9.06 1.60 0.20
9/30/2005 8.83 1.62 0.21
12/31/2005 8.92 1.78 0.26
3/31/2006 9.25 1.81 0.24
6/30/2006 9.49 2.17 0.23
9/30/2006 9.74 2.08 0.24
12/31/2006 10.08 2.06 0.24
3/31/2007 10.10 2.01 0.26
6/30/2007 10.56 1.93 0.32
9/30/2007 10.98 2.04 0.24
12/31/2007 11.31 2.28 0.32
3/31/2008 11.89 2.27 0.28
6/30/2008 12.38 2.50 0.31
9/30/2008 12.80 2.54 0.37
12/31/2008 13.44 2.67 0.39
3/31/2009 13.47 2.73 0.39
6/30/2009 13.76 2.80 0.39
9/30/2009 14.22 2.88 0.38
12/31/2009 13.73 2.63 0.34
3/31/2010 13.38 2.41 0.35
6/30/2010 12.91 2.35 0.29
9/30/2010 12.16 2.28 0.27
12/31/2010 11.85 2.06 0.23
3/31/2011 11.43 2.10 0.23
6/30/2011 10.96 1.93 0.22
9/30/2011 10.89 1.97 0.22
12/31/2011 10.39 1.93 0.20
3/31/2012 10.04 1.75 0.20
6/30/2012 10.12 1.84 0.21
9/30/2012 9.79 1.73 0.21
12/31/2012 9.87 1.85 0.21
3/31/2013 10.06 1.82 0.19
6/30/2013 9.91 1.76 0.21
9/30/2013 10.09 1.68 0.19
12/31/2013 10.08 1.67 0.20
3/31/2014 10.27 1.82 0.21
6/30/2014 10.32 1.83 0.18
9/30/2014 10.53 1.82 0.20
12/31/2014 10.60 1.87 0.20
3/31/2015 10.34 1.80 0.20
6/30/2015 10.50 1.78 0.20
9/30/2015 10.68 1.92 0.21
12/31/2015 10.70 1.84 0.22
3/31/2016 10.89 1.89 0.18
6/30/2016 11.18 1.93 0.21
9/30/2016 11.05 1.88 0.21
12/31/2016 11.51 1.83 0.20
3/31/2017 11.25 1.81 0.21
6/30/2017 11.62 1.87 0.21
9/30/2017 11.67 1.96 0.22
12/31/2017 11.25 1.73 0.21
3/31/2018 11.37 1.81 0.20
6/30/2018 11.24 1.91 0.21
9/30/2018 11.02 1.76 0.22
12/31/2018 11.30 1.89 0.19
3/31/2019 11.37 1.98 0.20
6/30/2019 11.34 1.90 0.22
9/30/2019 11.65 1.91 0.22
12/31/2019 11.52 1.97 0.22
3/31/2020 11.58 2.04 0.22
6/30/2020 8.83 1.53 0.22
9/30/2020 8.58 1.43 0.22
12/31/2020 8.82 1.45 0.20
3/31/2021 9.02 1.41 0.16
6/30/2021 8.66 1.26 0.16
9/30/2021 9.25 1.48 0.16
12/31/2021 9.96 1.71 0.19
3/31/2022 11.16 1.95 0.20
6/30/2022 12.12 2.24 0.23
9/30/2022 13.08 2.45 0.22
12/31/2022 13.85 2.58 0.27
3/31/2023 14.06 2.46 0.29
6/30/2023 14.87 2.68 0.29
9/30/2023 15.08 2.63 0.31
12/31/2023 15.18 2.82 0.30
3/31/2024 15.62 2.89 0.34
6/30/2024 15.61 2.93 0.35
9/30/2024 15.47 2.93 0.36
12/31/2024 15.63 2.80 0.34
3/31/2025 15.45 2.82 0.36
6/30/2025 15.50 2.82 0.34
9/30/2025 15.78 2.92 0.33

Note: Delinquency rate measures the fraction of balances that are at least 30 days past due, excluding severely derogatory loans. The subprime series uses the left axis, while the near prime and prime series use the right axis. Subprime is less than 620, near prime is between 620 and 719, prime is greater than 719. Credit scores are lagged by one year. Data are seasonally adjusted.

Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax.

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Figure 6: Delinquency Rates Across the Income Distribution

Figure 6a. Credit Card Delinquency by Tract Income
Percent
Quarterly, s.a.

Date Credit Card Delinquency Rate in Low-Income Census Tracts Credit Card Delinquency Rate in Moderate-Income Census Tracts Credit Card Delinquency Rate in Medium-Income Census Tracts Credit Card Delinquency Rate in High-Income Census Tracts
6/30/2014 3.82 3.49 2.57 1.87
9/30/2014 3.82 3.45 2.58 1.86
12/31/2014 3.79 3.47 2.60 1.91
3/31/2015 3.76 3.40 2.58 1.87
6/30/2015 3.78 3.40 2.57 1.90
9/30/2015 3.90 3.45 2.57 1.88
12/31/2015 3.88 3.53 2.54 1.86
3/31/2016 4.09 3.62 2.58 1.90
6/30/2016 4.23 3.70 2.66 1.89
9/30/2016 4.27 3.77 2.70 1.95
12/31/2016 4.59 3.79 2.86 2.02
3/31/2017 4.69 3.94 2.91 2.12
6/30/2017 4.85 4.07 3.01 2.14
9/30/2017 5.03 4.15 3.09 2.22
12/31/2017 5.16 4.31 3.08 2.20
3/31/2018 5.36 4.24 3.13 2.17
6/30/2018 5.59 4.22 3.09 2.23
9/30/2018 5.96 4.20 3.11 2.22
12/31/2018 5.99 4.19 3.14 2.26
3/31/2019 6.11 4.30 3.19 2.28
6/30/2019 6.13 4.45 3.27 2.29
9/30/2019 5.96 4.57 3.36 2.31
12/31/2019 6.04 4.47 3.31 2.29
3/31/2020 5.77 4.37 3.22 2.28
6/30/2020 5.45 4.01 3.00 2.15
9/30/2020 4.28 3.36 2.72 1.99
12/31/2020 4.01 3.45 2.55 1.81
3/31/2021 3.90 3.14 2.31 1.66
6/30/2021 3.76 2.96 2.14 1.51
9/30/2021 3.78 2.87 2.08 1.43
12/31/2021 3.93 2.98 2.11 1.46
3/31/2022 4.23 3.25 2.29 1.46
6/30/2022 4.62 3.54 2.53 1.54
9/30/2022 5.03 4.00 2.82 1.70
12/31/2022 5.34 4.33 3.03 1.84
3/31/2023 5.74 4.69 3.35 2.09
6/30/2023 6.15 5.13 3.64 2.36
9/30/2023 6.50 5.35 3.90 2.54
12/31/2023 6.68 5.70 4.19 2.79
3/31/2024 6.83 5.86 4.28 2.91
6/30/2024 6.73 5.90 4.35 2.96
9/30/2024 6.74 5.98 4.41 3.01
12/31/2024 6.80 5.88 4.38 2.95
3/31/2025 6.67 5.80 4.35 2.94
6/30/2025 6.66 5.67 4.29 2.89
9/30/2025 6.55 5.54 4.18 2.87

Figure 6b. Auto Delinquency by Tract Income
Percent
Quarterly, s.a.

Date Auto Loan Delinquency Rate in Low-Income Census Tracts Auto Loan Delinquency Rate in Moderate-Income Census Tracts Auto Loan Delinquency Rate in Medium-Income Census Tracts Auto Loan Delinquency Rate in High-Income Census Tracts
6/30/2014 5.76 4.39 2.78 1.96
9/30/2014 5.75 4.37 2.84 1.98
12/31/2014 5.60 4.50 2.86 1.98
3/31/2015 5.64 4.42 2.89 1.99
6/30/2015 5.56 4.40 2.86 1.98
9/30/2015 5.74 4.56 2.92 1.98
12/31/2015 6.12 4.40 2.98 2.03
3/31/2016 6.11 4.50 2.96 2.00
6/30/2016 6.37 4.58 3.12 2.04
9/30/2016 6.46 4.52 3.09 2.07
12/31/2016 6.43 4.72 3.14 2.04
3/31/2017 6.33 4.55 3.11 2.03
6/30/2017 6.46 4.64 3.09 2.04
9/30/2017 6.42 4.66 3.08 2.03
12/31/2017 6.12 4.46 2.97 1.97
3/31/2018 6.20 4.60 3.00 1.96
6/30/2018 6.00 4.45 2.93 1.91
9/30/2018 6.05 4.37 2.89 1.84
12/31/2018 6.22 4.48 2.91 1.87
3/31/2019 6.12 4.42 2.91 1.88
6/30/2019 6.40 4.55 2.97 1.92
9/30/2019 6.22 4.57 2.92 1.93
12/31/2019 6.13 4.31 2.84 1.85
3/31/2020 5.95 4.07 2.69 1.74
6/30/2020 5.34 3.77 2.42 1.58
9/30/2020 5.33 3.54 2.31 1.49
12/31/2020 5.14 3.56 2.22 1.45
3/31/2021 5.13 3.59 2.17 1.44
6/30/2021 5.25 3.42 2.14 1.40
9/30/2021 5.22 3.60 2.24 1.49
12/31/2021 5.80 3.81 2.35 1.54
3/31/2022 6.28 4.16 2.60 1.67
6/30/2022 6.57 4.57 2.83 1.82
9/30/2022 7.33 4.94 3.03 1.92
12/31/2022 7.33 5.09 3.19 2.06
3/31/2023 7.36 5.21 3.23 2.07
6/30/2023 7.74 5.41 3.41 2.18
9/30/2023 7.72 5.38 3.43 2.17
12/31/2023 7.85 5.51 3.49 2.23
3/31/2024 7.93 5.45 3.58 2.29
6/30/2024 8.00 5.51 3.60 2.35
9/30/2024 7.84 5.52 3.64 2.46
12/31/2024 7.93 5.59 3.68 2.46
3/31/2025 7.84 5.69 3.67 2.47
6/30/2025 7.92 5.76 3.68 2.44
9/30/2025 8.37 5.94 3.74 2.39

Note: Delinquency rate measures the fraction of balances that are at least 30 days past due, excluding severely derogatory loans. Data are seasonally adjusted.

Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax.

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Figure 7: Delinquency Rates for Homeowners and Renters

Figure 7a. Credit Card Delinquency Rates by Mortgage Status
Percent
Quarterly, s.a.

Date Credit Card Delinquency Rate for Mortgage Borrowers Credit Card Delinquency Rate for Borrowers Without a Mortgage
3/31/2000 3.32 5.50
6/30/2000 3.28 5.63
9/30/2000 3.31 5.84
12/31/2000 3.31 5.91
3/31/2001 3.71 6.60
6/30/2001 4.05 7.24
9/30/2001 4.01 7.12
12/31/2001 4.27 7.62
3/31/2002 4.36 7.51
6/30/2002 4.27 7.32
9/30/2002 4.31 7.24
12/31/2002 4.42 7.49
3/31/2003 4.52 7.61
6/30/2003 4.60 7.72
9/30/2003 4.46 7.47
12/31/2003 4.27 6.91
3/31/2004 4.06 6.79
6/30/2004 3.93 6.58
9/30/2004 3.69 6.10
12/31/2004 3.71 6.22
3/31/2005 3.51 5.99
6/30/2005 3.33 5.78
9/30/2005 3.48 5.85
12/31/2005 2.86 5.52
3/31/2006 2.96 5.76
6/30/2006 3.17 6.24
9/30/2006 3.34 6.11
12/31/2006 3.42 5.99
3/31/2007 3.23 5.79
6/30/2007 3.44 5.98
9/30/2007 3.71 6.20
12/31/2007 3.93 6.42
3/31/2008 4.20 6.21
6/30/2008 4.63 6.23
9/30/2008 4.86 6.25
12/31/2008 5.53 6.80
3/31/2009 6.46 7.55
6/30/2009 6.80 7.91
9/30/2009 6.53 7.48
12/31/2009 6.35 7.14
3/31/2010 6.08 6.81
6/30/2010 5.80 6.31
9/30/2010 4.97 5.71
12/31/2010 4.44 5.62
3/31/2011 4.01 4.81
6/30/2011 3.66 4.40
9/30/2011 3.39 4.17
12/31/2011 3.25 4.21
3/31/2012 3.08 4.02
6/30/2012 3.02 4.06
9/30/2012 2.75 3.84
12/31/2012 2.68 3.70
3/31/2013 2.54 3.64
6/30/2013 2.40 3.52
9/30/2013 2.38 3.49
12/31/2013 2.23 3.28
3/31/2014 2.11 3.22
6/30/2014 1.99 3.21
9/30/2014 1.98 3.16
12/31/2014 1.98 3.28
3/31/2015 1.83 3.29
6/30/2015 1.81 3.41
9/30/2015 1.81 3.38
12/31/2015 1.78 3.36
3/31/2016 1.83 3.37
6/30/2016 1.76 3.49
9/30/2016 1.79 3.70
12/31/2016 1.81 3.83
3/31/2017 1.85 3.91
6/30/2017 1.96 4.02
9/30/2017 2.06 4.24
12/31/2017 2.02 4.16
3/31/2018 1.98 4.17
6/30/2018 2.00 4.05
9/30/2018 2.06 4.23
12/31/2018 2.09 4.17
3/31/2019 2.11 4.24
6/30/2019 2.09 4.27
9/30/2019 2.21 4.37
12/31/2019 2.25 4.32
3/31/2020 2.25 4.31
6/30/2020 1.99 3.78
9/30/2020 1.73 3.37
12/31/2020 1.71 3.41
3/31/2021 1.54 3.28
6/30/2021 1.26 2.68
9/30/2021 1.18 2.69
12/31/2021 1.24 2.87
3/31/2022 1.30 3.11
6/30/2022 1.30 3.39
9/30/2022 1.53 3.78
12/31/2022 1.73 3.90
3/31/2023 1.97 4.29
6/30/2023 2.33 4.61
9/30/2023 2.60 4.91
12/31/2023 2.79 5.18
3/31/2024 2.93 5.34
6/30/2024 3.03 5.24
9/30/2024 3.16 5.38
12/31/2024 3.04 5.14
3/31/2025 2.95 5.23
6/30/2025 3.06 5.19
9/30/2025 2.99 5.10

Figure 7b. Auto Loan Delinquency Rates by Mortgage Status
Percent
Quarterly, s.a.

Date Auto Loan Delinquency Rate for Mortgage Borrowers Auto Loan Delinquency Rate for Borrowers Without a Mortgage
3/31/2000 2.08 4.21
6/30/2000 2.02 4.49
9/30/2000 2.04 4.56
12/31/2000 2.06 4.53
3/31/2001 2.23 4.89
6/30/2001 2.18 4.65
9/30/2001 2.22 4.81
12/31/2001 2.32 4.84
3/31/2002 2.38 4.78
6/30/2002 2.38 4.72
9/30/2002 2.34 4.82
12/31/2002 2.28 4.83
3/31/2003 2.27 4.80
6/30/2003 2.16 4.78
9/30/2003 1.94 4.40
12/31/2003 1.92 4.14
3/31/2004 1.85 4.18
6/30/2004 1.82 4.02
9/30/2004 2.02 4.12
12/31/2004 1.88 4.15
3/31/2005 1.79 4.06
6/30/2005 1.85 4.11
9/30/2005 1.74 4.15
12/31/2005 1.88 4.28
3/31/2006 1.86 4.51
6/30/2006 2.02 4.76
9/30/2006 2.11 4.83
12/31/2006 2.09 4.99
3/31/2007 2.13 4.91
6/30/2007 2.22 5.06
9/30/2007 2.31 5.27
12/31/2007 2.47 5.45
3/31/2008 2.58 5.69
6/30/2008 2.78 5.95
9/30/2008 2.90 6.13
12/31/2008 2.98 6.44
3/31/2009 3.07 6.39
6/30/2009 3.04 6.42
9/30/2009 3.10 6.43
12/31/2009 2.96 6.08
3/31/2010 2.80 5.75
6/30/2010 2.62 5.43
9/30/2010 2.39 5.07
12/31/2010 2.22 4.84
3/31/2011 2.11 4.72
6/30/2011 1.95 4.46
9/30/2011 1.92 4.39
12/31/2011 1.78 4.18
3/31/2012 1.67 4.02
6/30/2012 1.68 4.13
9/30/2012 1.61 3.99
12/31/2012 1.62 4.10
3/31/2013 1.64 4.14
6/30/2013 1.58 4.09
9/30/2013 1.48 4.18
12/31/2013 1.54 4.12
3/31/2014 1.53 4.26
6/30/2014 1.49 4.30
9/30/2014 1.54 4.33
12/31/2014 1.49 4.45
3/31/2015 1.46 4.33
6/30/2015 1.46 4.39
9/30/2015 1.48 4.52
12/31/2015 1.48 4.50
3/31/2016 1.50 4.54
6/30/2016 1.50 4.68
9/30/2016 1.49 4.57
12/31/2016 1.47 4.73
3/31/2017 1.40 4.63
6/30/2017 1.45 4.71
9/30/2017 1.41 4.76
12/31/2017 1.36 4.54
3/31/2018 1.35 4.62
6/30/2018 1.34 4.56
9/30/2018 1.27 4.45
12/31/2018 1.28 4.52
3/31/2019 1.32 4.46
6/30/2019 1.32 4.59
9/30/2019 1.34 4.58
12/31/2019 1.30 4.43
3/31/2020 1.30 4.39
6/30/2020 0.98 3.78
9/30/2020 1.00 3.60
12/31/2020 1.00 3.57
3/31/2021 0.96 3.50
6/30/2021 0.83 3.43
9/30/2021 0.88 3.56
12/31/2021 0.94 3.78
3/31/2022 0.98 4.17
6/30/2022 1.09 4.53
9/30/2022 1.17 4.85
12/31/2022 1.25 5.07
3/31/2023 1.28 5.11
6/30/2023 1.42 5.42
9/30/2023 1.43 5.44
12/31/2023 1.48 5.53
3/31/2024 1.65 5.66
6/30/2024 1.69 5.63
9/30/2024 1.74 5.60
12/31/2024 1.75 5.61
3/31/2025 1.73 5.63
6/30/2025 1.75 5.66
9/30/2025 1.76 5.75

Note: Delinquency rate measures the fraction of balances that are at least 30 days past due, excluding severe derogatory loans. Data are seasonally adjusted. Homeownership is proxied through presence of a mortgage loan.

Source: Federal Reserve Bank of New York Consumer Credit Panel/Equifax.

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Last Update: November 24, 2025