The Kobeissi Letter(@KobeissiLetter):Serious consumer delinquencies remain historically elevated in the US: Student loan serious delinquencies rose +0.3 percentage points in Q2 2026, to 10.6%, the highest since Q1 2020. This marks the 3rd consecutive quarterly increase, totaling +1.2 percentage points. Credit card 90+ day delinquencies now stand at 12.9%, the 2nd-highest level since Q1 2011. By comparison, credit card delinquencies peaked at 13.7% in Q2 2010, in the aftermath of the 2008 Financial Crisis. Meanwhile, auto loan 90+ day delinquencies now stand at 5.5%, the 2nd-highest on record, surpassing the Q4 2010 high by 0.2 percentage points. US consumers are struggling to keep up with their debt payments.

2026.08.14 22:28

Serious consumer delinquencies remain historically elevated in the US: Student loan serious delinquencies rose +0.3 percentage points in Q2 2026, to 10.6%, the highest since Q1 2020. This marks the 3rd consecutive quarterly increase, totaling +1.2 percentage points. Credit card 90+ day delinquencies now stand at 12.9%, the 2nd-highest level since Q1 2011. By comparison, credit card delinquencies peaked at 13.7% in Q2 2010, in the aftermath of the 2008 Financial Crisis. Meanwhile, auto loan 90+ day delinquencies now stand at 5.5%, the 2nd-highest on record, surpassing the Q4 2010 high by 0.2 percentage points. US consumers are struggling to keep up with their debt payments.