Consumer loan delinquencies are likely to remain near historic lows as the economy continues to improve, American Bankers Association Chief Economist James Chessen said Tuesday.
In addition to job growth, Chessen attributed the low delinquency rate to consumers remaining disciplined at managing their money.
ABA defines a delinquency as a payment that is at least 30 days overdue.
Looking at late payments, delays increased in six of 11 consumer installment loan categories in the third quarter of 2015 from the second quarter.
However, the upticks were small and not causes for worry, Chessen said.
Among the borrowings the bankers trade group tracks are home equity, credit card and property improvement loans.