WASHINGTON — Underscoring banker troubles on home equity loans,the American Bankers Association said this week HELOC delinquenciesrose 14 basis points to 1.10% during the first quarter, marking thehighest rate for that loan category since ABA began collecting datain 1987.

In a press release issued by its consumer credit staff, the ABAsaid bank card delinquencies also increased, jumping 13 basispoints to 4.51 percent, slightly above the five-year average of4.40 percent.

“It was a tough quarter for some people,” ABA Chief EconomistJim Chessen said. “Faced with rising food and gas prices and littleincome growth, fewer resources have been available to managedebt.”

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.