Consumer Loan Delinquencies Rise to Decade Highs As Rates, Inflation Weigh
• Consumers have faced a "widespread" rise in loan delinquencies since the Fed began raising interest rates last year
• Credit-card delinquencies rose to 3% in Q3 2022, the highest since Q1 2012
• Late auto loan payments also increased in Q3 to the highest since 2008
• The rise in delinquencies comes as borrowing costs climb for consumers
• The data suggests consumers are struggling with debt payments amid inflation and higher rates