Climbing non-mortgage demand as cost of living rises. Mortgage demand continues to trend down globally.
Demand
Demand
Delinquencies
Utilization
Overall Debt
Chart data is indexed as of Q4 2019.
*Data not reported for this region
Mortgage Inquiries
Canada: Non-mortgage credit demand is going up
Mortgage Inquiries
Australia: AU mortgage demand approaching pre-pandemic levels, Q2 2022 fell 7% compared to the same quarter last year
Non-Mortgage: Includes Buy Now Pay Later, credit cards, installment loans, personal loans and automobile loans. Availability and coverage will vary by region.
Non-Mortgage debt has been increasing across countries globally driven by demand and inflation.
Chart data is indexed as of Q4 2019.
*Data not reported for this region
Debt: Money borrowed by consumers at a point in time. Refers to amortized limit or outstanding balance depending on data collected from each region, except Spain which reports just defaulted assets because Spanish Bureau manages negative data only.
Non-Mortgage: Includes Buy Now Pay Later, credit cards, installment loans, personal loans and automobile loans. Availability and coverage will vary by region.
Overall Debt
Mortgage Debt
Non-Mortgage Debt
Go To Demand
Go To Delinquencies
Delinquencies
Utilization
Overall Debt
Demand
Australia: Mortgage debt will continue to be elevated as a result of the pandemic property boom
United States: Personal loan debt has increased significantly in the past year with total balances 17.6% higher YOY. This product now accounts for 3% of non-mortgage US debt, compared to 2.6% a year ago
Canada: Average non-mortgage debt per consumer is at $21,128 , an increase of 2.4% compared to Q2 2021
United Kingdom: Consumers paying off credit card debt throughout the pandemic, balances still at below 80% of Jan 2020 levels
Spain: Continued decrease in debt due to financial government support during pandemic period (Spain only reports defaulted assets)
United States: Total mortgage debt continued to rise—9% YOY in March
Canada: Despite a decline in new mortgage volume, Canada’s mortgage debt grew by 9.2% YOY and 2.6% QOQ in Q2 2022
Canada: Mortgage broker inquiries are slowing down but the demand is still higher than pre-pandemic
New Zealand: Mortgage demand in NZ for the June quarter dropped by 37%, year on year. Despite the softening market, mortgage demand in the June quarter 2022 was still 8.6% higher than the same quarter in Q2 2019
Argentina: After a high increase in the third quarter of 2021, demand of non-mortgage loans has stabilized in 2022 with bigger values for Q2 than Q1
United Kingdom & Spain: Credit demand has now reached pre-pandemic levels (UK), at around 92% (ES) compared to 2019
Mortgage Inquiries
Non-Mortgage Inquiries
UK Annual growth rate for all lending at 6.5% in March (12.5% for credit cards)
Credit limits surpass pre-pandemic levels—moderate increases in card utilization
Chart data is indexed as of Q4 2019.
*Data not reported for this region
Utilization
Rising Card Delinquencies
Non-Mortgage Debt
Delinquencies
Utilization
Overall Debt
Demand
United States: Bankcard utilization is increasing across all score tiers, however has not returned to pre-COVID levels
Overall: Multiple regions are showing an uptick in credit card delinquency
Canada: Credit card utilization is increasing with high consumer spending. It is currently at 22.3%, up 8% from Q2 2021
The most aggressive increase in credit limits is seen in subprime and nearprime, with a ~18% increase YOY in these segments
Canada: Average credit limit on new cards is up by 27% when compared to the same time period in 2021
Argentina: Credit limit increases didn't follow the inflation rate behavior, which can impact the utilization levels. Utilization levels are moving around 35% in the last 3 quarters
Delinquency rates rising in most regions in varying levels of severity
Chart data is indexed as of Q4 2019.
*Data not reported for this region
Delinquency: The delinquency rate refers to the percentage of loans that are 90 or more days past due.
Delinquencies
United States
Australia & New Zealand
Delinquencies
Utilization
Overall Debt
Demand
Cost of living stings AU as personal loan early delinquency (30+dpd) hit highest level since the pandemic at 3.13%
Auto loans originated in April 2022 shows increased early delinquency after 3 months on book across subprime, near prime and prime loans
Consumer loans are exceeding pre-Covid delinquency levels. This is due to both score shift (increased subprime underwriting) as well as increased delinquency
NZ delinquencies remain low and reasonably stable across all products
Canada
Credit card and other non-mortgage products are starting to see a rise in account level 90+ delinquency rate
However, we are not seeing the same uptick in balance level delinquency rate as high debt levels are masking the delinquent balances
Go To Utilization
Go To Overall Debt
Go To Delinquencies
Go To Demand
Go To Overall Debt
Go To Utilization
Delinquencies
Utilization
Overall Debt
Demand
Australia: AU mortgage demand approaching pre-pandemic levels, Q2 2022 fell 7% compared to the same quarter last year
New Zealand: Mortgage demand in NZ for the June quarter dropped by 37%, year on year. Despite the softening market, mortgage demand in the June quarter 2022 was still 8.6% higher than the same quarter in Q2 2019
Mortgage Inquiries
Australia: Mortgage debt will continue to be elevated as a result of the pandemic property boom
United States: Total mortgage debt continued to rise—9% YOY in March
Canada: Despite a decline in new mortgage volume, Canada’s mortgage debt grew by 9.2% YOY and 2.6% QOQ in Q2 2022
Argentina: After a high increase in the third quarter of 2021, demand of non-mortgage loans has stabilized in 2022 with bigger values for Q2 than Q1
Non-Mortgage Inquiries
United States: Bankcard utilization is increasing across all score tiers, however has not returned to pre-COVID levels
Canada: Average credit limit on new cards is up by 27% when compared to the same time period in 2021
Argentina: Credit limit increases didn't follow the inflation rate behavior, which can impact the utilization levels. Utilization levels are moving around 35% in the last 3 quarters
The most aggressive increase in credit limits is seen in subprime and nearprime, with a ~18% increase YOY in these segments
Cost of living stings AU as personal loan early delinquency (30+dpd) hit highest level since the pandemic at 3.13%
NZ delinquencies remain low and reasonably stable across all products
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Learn more about Global Credit Trends
Non-Mortgage Inquiries
Learn more about Global Credit Trends
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Learn More About Global Credit Trends
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Learn More About Global Credit Trends
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