ATLANTA, May 20, 2013 (GLOBE NEWSWIRE) -- According to Equifax's (NYSE:EFX) latest National Consumer Credit Trends Report, new credit generated during January-February 2013 posted at $141 billion, the highest balance for that time period in five-years, and an increase of more than 33% over recession lows of $94 billion originated during January-February 2010. Year-over-year, new credit balance changes year-to-date in February 2012 versus February 2013:
- 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)
Other highlights from the most recent data include:Student Loans:
- The total new credit balances for February, year-over-year 2012-2013, nearly 29% (from $4 billion to $5.1 billion).
- The total number of new loans increased nearly 9%, year-over-year, year-to-date in February 2012-2013, from 3.2 million to 3.5 million, the highest in more than seven years.
- By source, bank funded auto loans increased more than 12% year-over-year in February 2012-2013, from $15.4 billion to $17.4 billion, while auto finance company funded loans increased less than 3% in that same time, from $17.4 billion to $17.9 billion.
- The total number of new loans year-to-date in February 2013, are 130,200, a year-over-year increase of more than 11%
- Year-over-year, the total balance of new credit increased more than 11% February 2012-2013, from $5.6 billion to $6.3 billion.
CONTACT: Demitra Wilson (404) 885-8907 Demitra.Wilson@equifax.com