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Feeling the Squeeze

This chart description is for illustrative purposes only and its accuracy cannot be guaranteed. Please see full disclosures at end of PDF document in the web post. General description: Combination 3-line and area chart showing interest payments as a percentage of household income and new delinquency rates for various forms of U.S. consumer debt. Chart subtitle: Interest payments as a percentage of household income have increased to a 15-year high while delinquencies have risen to pre-pandemic levels. Chart source: Bureau of Economic Analysis, Federal Reserve Bank of New York Center for Microeconomic Data as of June 30, 2023. Chart visual description: Data is quarterly; displayed in 9-month increments on x-axis from Mar-03 to Jun-23. Left Y-axis is labeled “Percentage of Household Income” and ranges from 0% to 5%. Right Y-axis is labeled “New 30+ Day Delinquency” and ranges from 0% to 16%. Interest Payments (Excl. Mortgages) corresponds to left Y-axis and is plotted in solid dark gray area. Lines plot three other data series corresponding to right Y-axis: teal for Auto Loans, light teal for Credit Cards, and dark teal for Student Loans. Chart data description: Interest Payments have increased sharply since September 2021 following rate hikes by the Federal Reserve. Auto Loans and Credit Cards lines have generally followed same slope since. Student Loans sharply decreased following payment pauses, and have remained near flat. Latest data points as of June 2023: Interest Payments at 4%. Auto Loans at 7%. Credit Cards at 7%. Student Loans at 1%. Please contact us for the full dataset. End chart description. See disclosures at end of document.
Posted on September 12, 2023September 12, 2023 Full size 1911 × 1033

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