Consumer delinquencies continue to rise
In 2022, more consumers missed payments on their credit products than in 2021
Delinquency rates continue to rise with some regions surpassing pre-pandemic levels. In the US, installment loan delinquency is up 29.7% since Q4 2021. In Canada, credit card and auto loans are starting to see a rise in delinquency rate with auto delinquencies fast approaching pre-pandemic levels.