August Consumer Credit Trends – Growth in Auto, Cards, and Home Equity Lending
Equifax has released the latest National Credit Trend Summaries and some highlights include:
- Growth and stability in auto and credit card: Auto Lending continues it’s recent growth trends and is enabling record new car sales. Credit card origination are up 36% from recession lows and utilization is up as well, reversing a recent trend.
- Improvement in home equity lending: For the first time since 2007, home equity installment balances increased, potentially signaling new positive economic change.
Follow the links above to read more details and see my other comments on www.equifax.com
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This post was contributed by: Amy Crews Cutts.
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