American Bankers Association (ABA) on Tuesday reported that the repayment of home equity loans, auto loans and other loan issues, the U.S. consumer is still facing great difficulties because of the high unemployment rate on the U.S. economy hinder the formation of the recovery process.
The report shows that the third quarter of last year, the overall default rate on loans for the second consecutive quarter, up slightly from last year's second quarter rose 3.00% to 3.01%. Since the second quarter of 2009 hit a high of 3.35% since the overall loan default rate had been declining at a steady trend. American Bankers Association, the definition of default is not 30 days or more late payments of loans.
American Bankers Association pointed out that the default rate of loans to the third quarter because of rising U.S. unemployment rate remained at a higher level; but the association also pointed out that the loan default rate is likely to decline in the near future.
The report also showed U.S. consumer auto loans in the repayment of the difficulties faced by even more. Report points out that car loans provided by banks in the third quarter from the second quarter delinquency rate of 1.67% to 1.74%; in through dealers or other third party arrangements, car loans, default rates increased from 3.01% to 3.02%. In addition, the bank issuing the credit card delinquency rate in the third quarter from the second quarter rose 3.62% to 3.64%.