![]() Provides unique data and insight into the credit conditions and activity of U.S. Household Debt and Credit Developments as of Q1 2023įlow into Serious Delinquency (90 days or more delinquent) Delinquency rates fell substantially in the previous quarter due to the implementation of the Fresh Start program, which made previously defaulted loan balances current. Less than 1% of aggregate student debt was 90+ days delinquent or in default in Q1 2023, a small decline from the previous quarter.Outstanding student loan debt stood at $1.604 trillion in the first quarter. ![]() About 35,000 individuals had new foreclosure notations on their credit reports, roughly in line with Q4 2022 levels. With the pandemic-era refinance boom over and a slowdown in home sales, both refinance and purchase mortgage originations declined substantially in the first quarter.
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