December 2-4

big.bright.minds 2025 - Nashville, TN

December 7-10

CUES Directors Conference - San Diego, CA

December 11-14

Annual CUSO Conference - St. Petersburg, FL

December 18

NCUA Board Meeting - Alexandria, VA

Late Car Payments Are Piling Up at Record Levels as More Drivers Face Delinquency

Americans, especially subprime borrowers, are increasingly falling behind on auto loan payments as high vehicle prices and economic pressures strain household budgets. Fitch Ratings reports that subprime auto delinquencies (60+ days late) hit a record 6.65% in October, while New York Fed data shows 5.02% of total auto loan balances are 90+ days delinquent, the highest level since 2020. Recent bankruptcies in the auto sector, including subprime lender Tricolor Holdings and parts maker First Brands, have raised concerns among financial leaders such as JPMorgan’s Jamie Dimon, who suggests these may be early warning signs of broader issues. The New York Fed also notes that 2.99% of auto loans transitioned into serious delinquency in Q3, a 15-year high, indicating many buyers may have overextended themselves amid elevated car prices.

With the average new vehicle costing nearly $50,000 in October, many subprime borrowers have shifted to the used market, where over 22% of loans go to lower-credit borrowers. Still, overall consumer credit remains relatively stable, with household debt growing at a moderate pace and delinquency rates leveling out. As lending conditions tighten for subprime auto borrowers, lenders continue offering attractive financing incentives to consumers with stronger credit making credit improvement a key strategy for buyers hoping to secure a more affordable vehicle.

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money.com

Home Insurance is Getting More Expensive Across the U.S.

Home insurance costs are soaring across the U.S. as climate-driven disasters, like hurricanes, wildfires, floods, and hail, become more frequent and more destructive. Insurers are raising premiums, dropping customers, or leaving high-risk states altogether, leaving many homeowners struggling to afford required coverage. Coastal regions and wildfire-prone states like Florida and California are hit hardest, but central states such as Nebraska are also seeing record-high rates due to severe hailstorms.

Rising insurance costs are pushing some families out of their homes, hurting property values, and increasing the risk of foreclosures. Experts warn that this growing crisis could destabilize housing markets nationwide. While some communities are investing in wildfire and storm-resistant upgrades, insurance companies have been slow to reflect these efforts in pricing. Without better incentives and stronger climate resilience, affordability issues are expected to worsen.

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npr.org

2025 ISI Holiday Schedule

As we approach the holiday season, please be sure to check our office closure dates. While our team enjoys time with loved ones, our website is always available for your convenience. We wish you a wonderful Christmas and a Happy New Year!