The Federal Reserve Bank of New York released new data indicating that while overall delinquency rates for debt burdens improved in the second quarter of 2026, new delinquencies for auto loans and mortgages rose slightly, and credit card delinquencies remained elevated. Aggregate delinquency rates stood at 4.7% of outstanding debt in some stage of delinquency during the quarter. Joelle Scally, economic policy advisor at the New York Fed, stated, 'Delinquency rates across most products have held steady over the past two years. Still, new delinquencies for auto loans and credit cards remain at elevated levels, a trend we'll continue to monitor.' [1]
Credit card debt over 30 days delinquent has remained steady at about 9% of outstanding balances since 2024, with auto loans at about 8% and mortgages around 4%. The transition of debt into serious delinquency (90 days or more past due) has held relatively steady but edged slightly higher over the past year. Specifically, credit card delinquencies rose from 6.93% in Q2 2025 to 6.97% in Q2 2026, auto loans entering serious delinquency increased from 2.93% to 3%, and mortgages from 1.29% to 1.52% over the same period. [1]
Student loans were noted as an exception, with reporting distortions due to the resumption of default reporting after the pandemic-era pause. Excluding charged-off debt, new credit card delinquencies have hovered around 3% of balances since 2024, with the latest reading at 2.95%. Credit card debt reaching 90 days past due accounted for 6.97% of balances in the latest quarter, while those beyond 90 days past due were at 2.3%. [1]
The New York Fed also highlighted that from Q3 2022 to Q1 2026, the percentage of credit card balances more than 90 days delinquent increased from 7.6% to 12.8%. However, economists clarified that this 'stock delinquency rate' is rising due to a pool of stale, charged-off debts being reported for longer durations, rather than a fundamental worsening in the incidence of delinquency. [1]
CONCLUSION
The New York Fed's latest data shows that while overall debt delinquency rates have improved, credit card and auto loan delinquencies remain elevated, with slight increases in serious delinquencies across several categories. Economists attribute the rise in stock delinquency rates to reporting practices rather than a significant deterioration in consumer financial health. Market participants are likely to monitor these trends closely for signs of consumer stress.