In Q1 2014, the national mortgage and credit card delinquency rates dropped once again. The rate for mortgages declined for the ninth quarter in a row. For credit cards, delinquency rates continue to hover near all-time lows. In addition, the national auto loan delinquency rate decreased at the end of the quarter. See below for details.
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The national mortgage delinquency rate (the rate of borrowers 60 or more days past due) dropped for the ninth consecutive quarter, declining to 3.61% in Q1 2014.
The mortgage delinquency rate has now dropped 24% in the last year.
The 6-day mortgage delinquency rate dropped approximately 6% between Q4 2013 and Q1 2014.
Total Account Volume in Millions
Between the first quarter of 2013 and the first quarter of 2014, every state experienced declines in their mortgage delinquency rates.
The national credit card delinquency rate (the rate of borrowers 90 or more days past due) decreased to 1.37% at the end of Q1 2014.
Between the first quarters of 2013 and 2014, Alaska was the only state that experienced a rise in its credit card delinquency rate.
In the last quarter, the national auto loan delinquency rate (the rate of borrowers 60 or more days past due) decreased to 1.00% at the end of Q1 2014.
Up from 0.95% in Q1 2013
Between the first quarters of 2013 and 2014, only 13 states experienced either a decline or had their auto loan delinquency rates remain the same.