Part 4/8:
The 90-day delinquency rate on credit cards shot up to 11.13%, the highest since the first quarter of 2012. Even for auto loans, the 90-day delinquency rate rose to 4.59%, similar to the late 2000s or 2010 levels, indicating that the later stages of the credit crisis are now being felt in the auto loan market.
There was some good news in the report, with new delinquencies or transitions into delinquencies actually down for credit cards in the third quarter compared to the second quarter. This is likely due to banks cutting back on the access to revolving credit, another cyclical indicator. However, auto loans are where a lot of the trouble is starting to really pop out.