Latest Credit Trends – Equifax Reports New Credit at Five Year High
Our latest National Consumer Credit Trends Report is out, and new credit generated during January – February of this year is up more than 33% over recession lows. If you’re involved in Auto Lending, Home-Equity Lending, and Student Lending, you are probably pretty busy these days.
Year-to-date new credit balance changes compared to the same time-period in 2012:
- Student loans: increased nearly 27% (from$9.2 billion to $11.7 billion)
- Home Equity lines of credit: increased nearly 16% (from $10.7 billion to $12.4 billion)
- Auto loans: increased more than 13% (from $61.5 billion to $69.6 billion)
Read my entire summary on Equifax.com.