Auto Loan Delinquencies
Transunion the credit reporting agency said the 60 day auto delinquency rate rose to 0.83 percent in the first quarter of 2009 which is nearly 28% higher than last year.
Home mortgage payments that are two months behind was 5.22% in first quarter which is 62% higher than a year ago.
Transunion randomly selects data from its 27 million consumer credit reports.
Mississippi has the highest auto loan delinquency at 1.49 percent, followed by Louisiana at 1.4 percent.
Four states hit hardest by the mortgage meltdown are
1, California
2. Nevada
3. South Dakota
4. North Dakota
Only California at 1.33 percent and Nevada at 1.28 percent, are in the top five in auto loan delinquencies.
South Dakota and North Dakota have the fewest delinquent auto loans at 0.34 and 0.35 percent.
Transunion forecasts the rate of auto loan delinquencies will increase 1% by the end of 2009.
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Posted by blogadmin
on Jun 17 2009. Filed under Car Reviews.
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