April 2026 Consumer Pulse: The Latest Consumer Credit Trends

Highlights:

• Consumer credit saw broad-based origination growth through December 2025, fueled primarily by surges in personal loans and mortgage volume, with overall annual debt growth persisting into February 2026.
• Credit risk dynamics are shifting as improvements in personal loans and private label delinquency are being countered by a rise in severe mortgage delinquency, alongside a worsening in subprime vintages for both Bankcard and unsecured personal loans through 2024.

The April Market Pulse webinar showcased insights from Equifax Senior Advisor Dave Sojka around current consumer credit trends.

April 2026 Key Insights: Today’s Consumer Credit Trends 

Through December 2025, broad-based origination growth led by surges in personal loans and mortgage volume.¹
As of February 2026, annual debt growth persists despite recent monthly cooling across most consumer segments.²Personal loans defy monthly cooling trend as private label and student debt recede.²There are shifting credit dynamics as rising HELOC engagement contrasts with cautious bankcard utilization.²
 Over the last eight years, utilization rates have been relatively flat across all score bands for Bankcard and private label.
 Annual delinquency improvements in personal loans and private label are being offset by rising severe mortgage delinquency.²Bankcard subprime (VantageScore under 620) vintages saw worsening in 2022 and 2023, while unsecured personal loan subprime vintages worsened in 2023 and 2024.²

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Sources:

1. Equifax US National Consumer Credit Trends Originations Report from March 2026 - Data through December 2025

2. Equifax US National Consumer Credit Trends Portfolio Report from March 2026 - Data as of February 2026

(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.