Delinquent Consumer Loans Drop: The American Bankers...
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From Times Staff and Wire Service Reports
Delinquent Consumer Loans Drop: The American Bankers Assn. said a survey of 800 banks showed a delinquency rate on consumer loans of 2.46%, down from 2.64% in the fourth quarter but slightly higher than the 2.39% rate a year earlier. The rate had hit a 10-year high of 2.88% in the third quarter of 1989. The delinquency rate includes seven types of closed-end consumer loans: personal, two types of auto loans, mobile home, recreational vehicle, property improvement and home equity.
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