WASHINGTON — Late payments for most types of consumer loans decreased in the final quarter of last year, a new industry survey to be released today shows.
Loans that were 30 days or more past due fell in proportion to overall loans in eight of 11 categories tracked by the American Bankers Association’s quarterly Consumer Credit Delinquency Bulletin. But housing-related loans showed mixed results.
Modest job gains and improved consumer spending in recent weeks reflect new life in the economy, many economists believe.
The decline in delinquencies is part of that trend, said ABA chief economist James Chessen. He called the survey’s numbers “a very positive and hopeful sign.’’
“Clearly, consumers are shoring up their finances and banks are putting losses behind them,’’ Chessen said.