Delinquencies on installment and home-related loans fell in the fourth quarter, as the economy improved and consumers conscientiously managed their finances, according to a study by the American Bankers Association.
The composite ratio for delinquencies in eight closed-end installment loan categories fell 4 basis points to 1.59 percent in the fourth quarter, a record low. The 15-year average for the composite ratio is 2.34 percent.
“As jobs, income and household wealth improve, people have a…
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