Equifax National Market Pulse Data Shows U.S. Consumers Continuing to Spend, Avoiding Delinquency
Equifax (NYSE:EFX) has released its Q2 2025 Market Pulse U.S. Consumer Credit Trends report, revealing total consumer debt reached $17.86 trillion in June 2025. The data shows a complex credit landscape with diverging trends across consumer segments.
Key findings include: subprime borrowers now hold 22.1% of all bankcard debt, a 3.5% increase from May 2024; student loan severe delinquency reached 17.95% in June following policy changes; bankcard balances grew to $1.07 trillion, up 4.2% year-over-year; and auto lease balances surged 13.6% while loan balances rose just 1.1%.
Overall delinquency on consumer debt remained steady at 1.5%, with bankcard delinquency showing improvement, falling 4.4% year-over-year to 2.79% in June 2025.
Equifax (NYSE:EFX) ha pubblicato il suo rapporto Market Pulse sulle tendenze del credito al consumo negli Stati Uniti per il secondo trimestre del 2025, rivelando che il debito totale dei consumatori ha raggiunto 17,86 trilioni di dollari a giugno 2025. I dati evidenziano un panorama creditizio complesso con tendenze divergenti tra i diversi segmenti di consumatori.
I principali risultati includono: i mutuatari subprime detengono ora il 22,1% di tutto il debito da carte bancarie, con un aumento del 3,5% rispetto a maggio 2024; la grave morosità sui prestiti studenteschi ha raggiunto il 17,95% a giugno a seguito di cambiamenti nelle politiche; i saldi delle carte bancarie sono cresciuti fino a 1,07 trilioni di dollari, con un aumento del 4,2% su base annua; e i saldi dei leasing auto sono aumentati del 13,6% mentre i saldi dei prestiti auto sono cresciuti solo dell'1,1%.
La morosità complessiva sul debito dei consumatori è rimasta stabile al 1,5%, con un miglioramento della morosità sulle carte bancarie, che è scesa del 4,4% su base annua al 2,79% a giugno 2025.
Equifax (NYSE:EFX) ha publicado su informe Market Pulse sobre las tendencias del crédito al consumidor en EE. UU. para el segundo trimestre de 2025, revelando que la deuda total de los consumidores alcanzó los 17,86 billones de dólares en junio de 2025. Los datos muestran un panorama crediticio complejo con tendencias divergentes entre los distintos segmentos de consumidores.
Los hallazgos clave incluyen: los prestatarios subprime ahora poseen el 22,1% de toda la deuda de tarjetas bancarias, un aumento del 3,5% desde mayo de 2024; la morosidad severa en préstamos estudiantiles alcanzó el 17,95% en junio tras cambios en las políticas; los saldos de tarjetas bancarias crecieron a 1,07 billones de dólares, un 4,2% más interanual; y los saldos de arrendamiento de autos aumentaron un 13,6% mientras que los saldos de préstamos solo subieron un 1,1%.
La morosidad general en la deuda del consumidor se mantuvo estable en 1,5%, con una mejora en la morosidad de tarjetas bancarias, que cayó un 4,4% interanual hasta el 2,79% en junio de 2025.
Equifax (NYSE:EFX)가 2025년 2분기 미국 소비자 신용 동향 보고서인 Market Pulse를 발표하며, 2025년 6월 소비자 총 부채가 17.86조 달러에 달했다고 밝혔습니다. 데이터는 소비자 세그먼트별로 상이한 신용 추세를 보여주는 복잡한 신용 환경을 나타냅니다.
주요 내용으로는: 서브프라임 차입자가 전체 은행 카드 부채의 22.1%를 보유하고 있으며, 이는 2024년 5월 대비 3.5% 증가한 수치; 정책 변경 후 6월 학생 대출 심각 연체율이 17.95%에 도달; 은행 카드 잔액은 1.07조 달러로 전년 대비 4.2% 증가; 자동차 리스 잔액은 13.6% 급증한 반면 대출 잔액은 1.1% 상승에 그쳤습니다.
소비자 부채 전반의 연체율은 1.5%로 안정적이었으며, 은행 카드 연체율은 개선되어 2025년 6월 기준 전년 대비 4.4% 감소한 2.79%를 기록했습니다.
Equifax (NYSE:EFX) a publié son rapport Market Pulse sur les tendances du crédit à la consommation aux États-Unis pour le deuxième trimestre 2025, révélant que la dette totale des consommateurs a atteint 17,86 billions de dollars en juin 2025. Les données montrent un paysage de crédit complexe avec des tendances divergentes selon les segments de consommateurs.
Les principales conclusions incluent : les emprunteurs subprimes détiennent désormais 22,1% de toutes les dettes par cartes bancaires, soit une augmentation de 3,5% depuis mai 2024 ; la délinquance sévère sur les prêts étudiants a atteint 17,95% en juin suite à des changements de politique ; les soldes des cartes bancaires ont augmenté à 1,07 billion de dollars, en hausse de 4,2% sur un an ; et les soldes des leasings automobiles ont bondi de 13,6% tandis que les soldes des prêts n'ont progressé que de 1,1%.
La délinquance globale sur la dette des consommateurs est restée stable à 1,5%, avec une amélioration de la délinquance sur les cartes bancaires, qui a diminué de 4,4% sur un an pour atteindre 2,79% en juin 2025.
Equifax (NYSE:EFX) hat seinen Bericht Market Pulse zu den US-Verbraucherkredittrends für das zweite Quartal 2025 veröffentlicht und dabei offengelegt, dass die gesamte Verbraucherschuld im Juni 2025 17,86 Billionen US-Dollar erreichte. Die Daten zeigen eine komplexe Kreditlandschaft mit unterschiedlichen Entwicklungen in verschiedenen Verbrauchersegmenten.
Wichtige Erkenntnisse umfassen: Subprime-Kreditnehmer halten nun 22,1% aller Bankkartenschulden, ein Anstieg um 3,5% seit Mai 2024; die schwerwiegende Zahlungsrückstände bei Studienkrediten erreichten im Juni 17,95% nach politischen Änderungen; die Bankkartensalden stiegen auf 1,07 Billionen US-Dollar, ein Plus von 4,2% im Jahresvergleich; und die Leasing-Salden im Automobilbereich stiegen um 13,6%, während die Kredit-Salden nur um 1,1% zunahmen.
Die Gesamtzahl der Zahlungsausfälle bei Verbraucherschulden blieb mit 1,5% stabil, wobei die Zahlungsausfälle bei Bankkarten sich verbesserten und im Jahresvergleich um 4,4% auf 2,79% im Juni 2025 sanken.
- Bankcard delinquency decreased 4.4% year-over-year to 2.79%
- Total bankcard write-offs decreased by 3.7 basis points compared to June 2024
- Auto lease segment shows strong performance with falling delinquencies
- Overall consumer debt delinquency remained stable at 1.5%
- Student loan severe delinquency spiked to 17.95% in June 2025
- Subprime borrowers' share of bankcard debt increased 50.9% from May 2021
- Total consumer debt increased to $17.86 trillion, showing continued leverage
- Growing K-shaped divide between prime and subprime borrowers
Insights
Equifax data shows stable overall delinquency rates with concerning subprime trends, potentially signaling credit market divergence.
Equifax's Q2 2025 credit data reveals a stable yet nuanced consumer credit landscape. Overall delinquency rates remained flat at
The most striking development is the bifurcation in consumer credit health - what Equifax terms a "K-shaped split." Subprime borrowers now hold
Bankcard metrics show some positive signals, with delinquencies declining
The auto credit market shows a structural shift toward leasing. While total auto debt grew just
Student loan data reveals significant disruption, with severe delinquencies at
For Equifax, these trends suggest sustained demand for credit monitoring and risk assessment products as lenders navigate increasingly complex consumer credit dynamics. The divergence between prime and subprime performance also indicates potential growth in specialized scoring and segmentation solutions.
Second Quarter 2025 Consumer Credit Trends Indicate Bank Card Delinquencies Continuing Downward Trend
"At the surface level, our second quarter data showed that consumers are continuing to spend and avoid delinquency. However, there's a growing K-shaped split in the consumer landscape, with subprime borrowers falling behind," said Tom O'Neill, Market Pulse Advisor at Equifax. "The share of credit card debt held by non-prime borrowers has now eclipsed pre-pandemic levels. In the months ahead, we'll continue to monitor whether affordability constraints continue to weigh heavily on non-prime borrowers and how this impacts the holistic credit picture."
Equifax data shows that many consumers are continuing to spend across categories and that delinquency is flat, but subprime borrowers show signs of strain. In the pandemic period, the share of total bankcard debt held by subprime borrowers declined from
Key Insights
- Student Loan Balances Sharply Decrease Year-Over-Year
In the second quarter, student loan debt represents the most acute example of credit deterioration across all major lending sectors - mortgage, auto loans, credit cards, student loans and personal loans. Due to the distribution of income tax refunds and elapsed time from the winter holidays, the second quarter is typically a period when consumers pay off debts. However, after a five-year suspension period, reporting on delinquent student loan borrowers resumed in 2025.
These policy changes have an outsized impact on the second quarter Equifax Market Pulse results. Severe delinquency – debt that is 90+ days past due or in bankruptcy – doubled in March from6.48% to13.49% , rose to18.24% in April, and stood at18.73% in May. In June, the delinquency rate on student loans in active repayment - not including loans in deferment or forbearance - fell slightly to17.95% . Overall, outstanding student loan debt dropped to$1.33 trillion 11% decrease year- over-year. The number of active accounts fell15.6% to 146.7 million. - Bankcard Delinquency and Write-offs Stabilize
Bankcard credit (traditional credit cards) balances grew to$1.07 trillion 4.2% year-over year, with total bankcard accounts up5.7% year-over-year to 581.6 million. Bankcard delinquency and write-offs have shown signs of stabilization. Delinquency fell4.4% year-over-year to2.79% in June 2025. Delinquency rates have trended downward since reaching a peak of3.22% in November 2024. Write-offs fell to 57.4 basis points in June 2025, which is 3.7 basis points lower than June 2024. - Auto Credit: Leases Soar, Loans Show Weakness
Auto loan and lease debt grew to$1.68 trillion 0.2% from May and1.7% year-over- year. Leases surged, with balances up13.6% , while auto loan balances rose just1.1% . Lease delinquencies dropped to0.42% , while loan delinquencies edged up to1.5% .
As borrowers contend with high vehicle prices and elevated interest rates, many are opting for short-term leases over long-term loans. The health of lease accounts has been strong, with falling delinquencies and lower write-offs. In contrast, auto loans appear stagnant, with marginal account and balance growth and a slight uptick in delinquencies.
Month-Over-Month Results:
Total Consumer Debt
Month | Total Consumer Debt ($T) | MoM Change (%) | YoY Change (%) |
April 2025 | 17.73 | 0.2 | 1.5 |
May 2025 | 17.80 | 0.4 | 2.1 |
June 2025 | 17.86 | 0.3 | 2.0 |
Mortgage Debt (Including Home Equity Loans)
Month | Mortgage Debt ($T) | MoM Change (%) | YoY Change (%) |
April 2025 | 13.13 | 0.3 | 3.2 |
May 2025 | 13.17 | 0.4 | 3.7 |
June 2025 | 13.21 | 0.3 | 3.0 |
Non-Mortgage Debt (Auto Loans, Bankcard and Private Label Credit Card, Student Loans and Personal Loans)
Month | Non-Mortgage Debt ($T) | MoM Change (%) | YoY Change (%) |
April 2025 | 4.61 | 0.04 | -2.8 |
May 2025 | 4.63 | 0.5 | -2.2 |
June 2025 | 4.65 | 0.4 | 0.9 |
Equifax has been tracking
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FOR MORE INFORMATION:
Tiffany Smith for Equifax
mediainquiries@equifax.com
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SOURCE Equifax Inc.
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