Fewer U.S. consumers are falling behind on their debt, prompting lenders to look again for ways to make their business grow.Delinquency rates on mortgages, home equity loans and credit card bills fell in April for the third straight month, according to data that Equifax Inc (EFX.N), one of the largest U.S. credit bureaus, provided exclusively to Reuters.
The data is based on Equifax' 200 million-plus files of U.S. consumers using credit.
"If you think about the entire U.S. population as a risk portfolio, it's safe to say that the portfolio is indeed improving," said Dann Adams, president of Equifax' U.S. Consumer Information Solutions.
The only credit product in which delinquency continues to rise is student loans, where 11.2 percent are late, up 0.7 percent from March and 3.5 percent from last year.
Three months of decreases is a good sign. I'm not confident enough to call a top yet, but this is a good sign nonetheless.
