One major way U.S. credit card debt is getting worse

Americans are increasingly delinquent on their credit-card debt.

Credit-card delinquencies have increased in recent months, according to a new report released Tuesday by the New York Federal Reserve.

Some 4.4% of credit-card debt became newly delinquent in the second quarter of 2017, up from about 3.5% in the second quarter of 2016. This compares to rates between 8% and nearly 11% during the peak of the recession. “We will closely monitor the degree to which this uptick is predictive of further consumer distress,” said Andrew Haughwout, senior vice president at the New York Fed.

There were also modest increases in mortgage and auto debt in the second quarter of 2017, the New York Fed found.

>>> Original Source <<<