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Loan delinquency

It should surprise no one that delinquency rates on credit cards and home mortgages rose during the past recession. The delinquency rate for credit cards has always been higher than the rate for mortgages…until now. In fact, the credit card delinquency rate is at its lowest recorded point since it has been tracked. Why is this special? Credit card debt isn’t backed by any asset, as mortgage debt is. So, credit card delinquency is expected to be higher, which is why interest rates for credit card debt are higher than rates for mortgage debt.

How this graph was created: After finding the first series, add the second series, then choose “Bar” in the graph settings.

Suggested by Christian Zimmermann

View on FRED, series used in this post: DRCCLACBS, DRSFRMACBS

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