Delinquency Rates Will Rise in 2017 for Auto Loans and Credit Cards, Says TransUnion

Mortgage delinquency rates are projected to fall in 2017, but delinquency rates for other consumer credit products will increase, according to TransUnion.
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Delinquency rates are expected to continue to drop in 2017 for mortgage loans, despite the prospects for higher interest rates. According to TransUnion (TRU), serious mortgage delinquency rates will decline slightly in 2017, to 2.11% by the fourth quarter. Mortgage delinquency rates peaked at over 7% in early 2010. But there will be an increase in credit card delinquencies, with the rate rising to 1.82% by the end of next year. That's would be its highest level since late 2011.  Auto loan delinquency rates will also rise, according to TransUnion. TransUnion's Joe Mellman spoke with TheStreet's Rhonda Schaffler in New York.