New York Fed finds delinquency rates mixed for credit cards, auto loans

Key Points:

• The Federal Reserve Bank of New York reported that overall delinquency rates on consumer debt improved in Q2 2026, with 4.7% of outstanding debt delinquent, but new delinquencies for auto loans and mortgages slightly increased and credit card delinquencies remained elevated.
• Credit card debt over 30 days delinquent has stayed around 9% since 2024, auto loans about 8%, and mortgages approximately 4%, while serious delinquencies (90+ days past due) have edged higher across these categories compared to the previous year.
• Credit card serious delinquency rose from 6.93% to 6.97%, auto loans from 2.93% to 3%, and mortgages from 1.29% to 1.52% between Q2 2025 and Q2 2026, indicating slight deterioration in payment performance.
• Student loan delinquency data showed distortions due to resumed reporting of defaulted loans after pandemic-related pauses, while excluding charged-off debt, new credit card delinquencies have held steady at about 3% since 2024.
• The rise in the overall stock of credit card balances more than 90 days delinquent, from 7.6% in late 2022 to 12.8% in early 2026, is attributed mainly to stale, charged-off debts rather than a fundamental increase in new delinquencies, according to New York Fed economists.