July 2026 Consumer Pulse: The Latest Consumer Credit Trends
Highlights:
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Despite monthly cooling across some segments, the market continues to see broad-based origination growth, primarily driven by surges in personal loan and mortgage volumes.
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Generational credit dynamics are shifting as Millennials now lead in debt share, while consumer behavior shows a notable contrast between increasing HELOC engagement and cautious bankcard utilization.
The July Market Pulse webinar showcased insights, prepared by Equifax Senior Advisor Maria Urtubey and presented by Equifax Senior Advisor David Sojka, around current consumer credit trends.
July 2026 Key Insights: Today’s Consumer Credit Trends
Broad-based origination growth has been led by surges in
personal loan and mortgage volume.¹
Annual debt growth persists despite recent monthly cooling across
most consumer segments.²
There have been generational shifts in credit. Millennials have
surpassed Gen X in 2026, driven primarily by a surge in mortgage
demand. As of May 2026, Millennials continue to lead debt share while
Gen Z continues to build its credit participation.²
Personal
loans defy monthly cooling trend as private label and student debt
continue to recede.² 
Millennials and Gen X hold the majority of total outstanding
balances across mortgage, auto, credit card, and student loan
debt.²
Looking at the shifting credit dynamics, rising HELOC engagement
is contrasted by cautious bankcard utilization.²
Annual delinquency improvements in personal loans and private
label are being offset by rising mortgage severe delinquency.²
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Sources:
(c) Equifax Inc. 2026. 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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