January 2025 Key Consumer Credit Insights

During our first Market Pulse webinar of the year, Equifax Advisor Dave Sojka explained current consumer credit trends as we head into 2025. 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 Advisory team: RiskAdvisors@Equifax.com.

January 2025 Key Consumer Insights: What You Need to Start the Year

As of September 2024, consumer originations continued to be lower year-over-year across several lending categories as higher rates, prices, and tougher lending standards weigh on consumer demand.¹

As of November 2024, both outstanding mortgage and revolving consumer debt continue to climb year-over-year. Meanwhile, non-revolving debt outstanding continues to slow.²

As of November 2024, non-mortgage consumer debt outstanding has increased for auto, bankcards, and personal loans. Other categories, including student loan debt, continue to be lower.²

November 2024 saw utilization decrease for bankcard while credit limit increased. Home equity metrics continued to be mixed, and private label card metrics are lower again.²

November 2024 delinquencies for auto, bankcard and mortgage increased year-over-year, confirming continued consumer stress.²

In the chart on the left, which shows consumers with auto loans having differing levels of 60+delinquency by generation, Gen Z has the highest 60+ auto loan delinquency (balance based).²

In the chart on the right, which shows the rate of increase in delinquency, Gen Z has one of the lowest rate of increase, while Baby Boomers have had the largest rate of increase.

Keep Your Business Goals Within Sight

Reach out to the Equifax 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 February 2025 Market Pulse webinar taking place on Thursday, February 20, 2025, when we show how to stay ahead with account origination. To ask questions from top economists in real time and gain deeper insights before anyone else, you simply have to be there. 

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:

1. Equifax US National Consumer Credit Trends Originations Report - Published Jan ’25 - Originations through September ‘24

2. Equifax US National Consumer Credit Trends Portfolio Report - Published Jan 2025 - Data as of Nov 2024

(c) Equifax Inc. 2024. 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.