February 2025 Key Consumer Credit Insights
The February Market Pulse webinar showcased insights from Equifax Risk Advisor Tom O’Neill concerning current consumer credit trends. While this overview is meant to be a snapshot of the larger discussion, you can receive full access to the standard charts and graphs by reaching out to the Equifax Risk Advisory team: RiskAdvisors@Equifax.com.
February 2025 Key Insights: The Latest Consumer Trends
As of October 2024, consumer originations continued to be
lower year-over-year across several lending categories as higher
rates, higher prices, and tougher lending standards weigh on
consumer demand.¹ However, it is important to note that while
mortgage originations did experience a year-over-year increase, this
growth is only relative to very low mortgage originations from the
previous year and the mortgage market still remains relatively
frozen.
As of December 2024, outstanding mortgage and revolving
consumer debt continues to climb year-over-year, while non-revolving
debt outstanding continues to be slowed.² But while mortgage debt
grew year-over-year, it actually decreased month-over-month. This is
indicative of the sluggish mortgage market.
As of December 2024, non-mortgage consumer outstanding debt
has increased for auto, bankcards, and personal loans. Other
categories, including student loan debt, continue to fall.²
December 2024 confirmed continued consumer stress as
delinquencies for auto, bankcard, and mortgage increased.²
How have different generations’ financial wellness been
impacted by the pandemic and inflationary periods (shaded area
represents a period of >5% CPI)?³ Gen Z, in particular, has had
a tough time weathering the economic conditions over the last five
years. Periods of high inflation, highlighted in the chart below
by a grey box, eroded the overall financial wellness of all
generations, though the most severe impact was felt by Gen Z.
Keep Your Business Goals Within Sight
Reach out to the Equifax Risk Advisory team at RiskAdvisors@Equifax.com for full access to the standard charts and graphs referenced in this report.
We hope you will join us for our March 2025 Market Pulse webinar taking place on Thursday, March 20, 2025, where we will hear up-to-the-minute news and insights from our all-star panel of top economists. To ask questions in real time and gain deeper insights before anyone else, you must be there. Don’t miss it!
Find our monthly Small Business Insights, National Consumer Credit Trends reports, the Market Pulse podcast, and more at our Market Pulse hub.
Broaden your perspective with insights that inspire bold innovation, confident adaptation, and decisive leadership through Trend and Insights.
Finally, connect with us on YouTube and LinkedIn for even deeper insights.
Sources:
(c) Equifax Inc. 2025. All Rights Reserved. The statistics provided herein are for informational and illustrative purposes only and shall not be used for any other purpose.
*The opinions, estimates, and forecasts presented herein are for general information use only. This material is based upon information that we consider to be reliable, but we do not represent that it is accurate or complete. No person should consider distribution of this material as making any representation or warranty with respect to such material and should not rely upon it as such. Equifax does not assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice. The opinions, estimates, forecasts, and other views published herein represent the views of the presenters as of the date indicated and do not necessarily represent the views of Equifax or its management.
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