{
  "meta": {
    "slug": "falling-behind",
    "name": "Total Delinquency Rate (All Loan Types)",
    "branded_name": "Falling Behind",
    "description": null,
    "source": "New York Fed Consumer Credit Panel / Equifax",
    "source_credit": null,
    "source_url": "https://www.newyorkfed.org/microeconomics/hhdc",
    "frequency": "quarterly",
    "units": "percent",
    "fred_series_id": null,
    "fred_edge_series_id": null,
    "bls_series_id": null,
    "series_id": null,
    "measurement_basis": null,
    "door": 1,
    "trend": "rising",
    "trend_suppressed": null,
    "series_breaks": [
      {
        "date": "2012-07-01",
        "reason": "The New York Fed says previously unreported defaulted student loans reappeared on credit reports in the third quarter of 2012, entering both the late balances and the total, so the student-loan part of this share is not measured the same way on either side of that quarter.",
        "source_url": "https://www.newyorkfed.org/microeconomics/faq.html"
      },
      {
        "date": "2020-04-01",
        "reason": "From the second quarter of 2020 federal student loans in the pandemic payment pause were reported as current, and the New York Fed said accounts in forbearance were typically reported current on credit reports.",
        "source_url": "https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2020Q2.pdf"
      },
      {
        "date": "2022-10-01",
        "reason": "In the fourth quarter of 2022 the Education Department's Fresh Start program marked more than $34 billion of defaulted federal student loans as current, which the New York Fed tied to that quarter's drop in reported student-loan delinquency.",
        "source_url": "https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2022Q4.pdf"
      },
      {
        "date": "2025-01-01",
        "reason": "In the first quarter of 2025 the New York Fed says missed federal student loan payments from the pause period began appearing on credit reports again, so readings from then on are not on the same footing as 2020 through 2024.",
        "source_url": "https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2025Q1.pdf"
      }
    ],
    "direction": "higher_is_worse",
    "last_updated": "2026-08-11T00:00:00Z",
    "stale": false,
    "stale_reason": null,
    "data_status": "current",
    "page_url": "https://americandefault.org/indicators/falling-behind/",
    "attribution": "American Default (americandefault.org) — Our analysis is free to use with attribution to American Default Research. Source data stays under each publisher's terms; cite the source named here."
  },
  "current": {
    "value": 4.73015322655927,
    "date": "2026-06-30"
  },
  "last_verified": null,
  "data": [
    {
      "date": "2003-03-31",
      "value": 4.9213921221874894
    },
    {
      "date": "2003-06-30",
      "value": 4.658719798068291
    },
    {
      "date": "2003-09-30",
      "value": 4.55990041332603
    },
    {
      "date": "2003-12-31",
      "value": 4.467133987838089
    },
    {
      "date": "2004-03-31",
      "value": 4.2805167606162495
    },
    {
      "date": "2004-06-30",
      "value": 4.259567460899573
    },
    {
      "date": "2004-09-30",
      "value": 4.27759653408715
    },
    {
      "date": "2004-12-31",
      "value": 4.255841883249542
    },
    {
      "date": "2005-03-31",
      "value": 4.116823729874466
    },
    {
      "date": "2005-06-30",
      "value": 3.8343237589581656
    },
    {
      "date": "2005-09-30",
      "value": 4.001570134543131
    },
    {
      "date": "2005-12-31",
      "value": 3.872959290895877
    },
    {
      "date": "2006-03-31",
      "value": 3.8067221617572145
    },
    {
      "date": "2006-06-30",
      "value": 3.9569253327192886
    },
    {
      "date": "2006-09-30",
      "value": 4.3275238691603946
    },
    {
      "date": "2006-12-31",
      "value": 4.696989132213675
    },
    {
      "date": "2007-03-31",
      "value": 4.923058727481955
    },
    {
      "date": "2007-06-30",
      "value": 5.276634208916312
    },
    {
      "date": "2007-09-30",
      "value": 5.89277071097905
    },
    {
      "date": "2007-12-31",
      "value": 6.723523442160419
    },
    {
      "date": "2008-03-31",
      "value": 7.4227309498086935
    },
    {
      "date": "2008-06-30",
      "value": 7.715979102106434
    },
    {
      "date": "2008-09-30",
      "value": 8.505867124781329
    },
    {
      "date": "2008-12-31",
      "value": 9.765667365721017
    },
    {
      "date": "2009-03-31",
      "value": 10.661442742731012
    },
    {
      "date": "2009-06-30",
      "value": 11.147453046683438
    },
    {
      "date": "2009-09-30",
      "value": 11.49808656306625
    },
    {
      "date": "2009-12-31",
      "value": 11.900404007827524
    },
    {
      "date": "2010-03-31",
      "value": 11.807433561329761
    },
    {
      "date": "2010-06-30",
      "value": 11.25495349879404
    },
    {
      "date": "2010-09-30",
      "value": 10.983622509635683
    },
    {
      "date": "2010-12-31",
      "value": 10.6808410018842
    },
    {
      "date": "2011-03-31",
      "value": 10.382771443406845
    },
    {
      "date": "2011-06-30",
      "value": 9.763127247503164
    },
    {
      "date": "2011-09-30",
      "value": 9.982141893028116
    },
    {
      "date": "2011-12-31",
      "value": 9.747587370259659
    },
    {
      "date": "2012-03-31",
      "value": 9.250427738965037
    },
    {
      "date": "2012-06-30",
      "value": 8.99
    },
    {
      "date": "2012-09-30",
      "value": 8.94
    },
    {
      "date": "2012-12-31",
      "value": 8.62
    },
    {
      "date": "2013-03-31",
      "value": 8.09
    },
    {
      "date": "2013-06-30",
      "value": 7.58
    },
    {
      "date": "2013-09-30",
      "value": 7.369999999999999
    },
    {
      "date": "2013-12-31",
      "value": 7.119999999999999
    },
    {
      "date": "2014-03-31",
      "value": 6.609999999999999
    },
    {
      "date": "2014-06-30",
      "value": 6.22
    },
    {
      "date": "2014-09-30",
      "value": 6.25
    },
    {
      "date": "2014-12-31",
      "value": 6
    },
    {
      "date": "2015-03-31",
      "value": 5.73
    },
    {
      "date": "2015-06-30",
      "value": 5.64
    },
    {
      "date": "2015-09-30",
      "value": 5.57
    },
    {
      "date": "2015-12-31",
      "value": 5.39
    },
    {
      "date": "2016-03-31",
      "value": 5
    },
    {
      "date": "2016-06-30",
      "value": 4.79
    },
    {
      "date": "2016-09-30",
      "value": 4.93
    },
    {
      "date": "2016-12-31",
      "value": 4.83
    },
    {
      "date": "2017-03-31",
      "value": 4.83
    },
    {
      "date": "2017-06-30",
      "value": 4.77
    },
    {
      "date": "2017-09-30",
      "value": 4.86
    },
    {
      "date": "2017-12-31",
      "value": 4.71
    },
    {
      "date": "2018-03-31",
      "value": 4.58
    },
    {
      "date": "2018-06-30",
      "value": 4.5
    },
    {
      "date": "2018-09-30",
      "value": 4.72
    },
    {
      "date": "2018-12-31",
      "value": 4.65
    },
    {
      "date": "2019-03-31",
      "value": 4.56
    },
    {
      "date": "2019-06-30",
      "value": 4.36
    },
    {
      "date": "2019-09-30",
      "value": 4.779999999999999
    },
    {
      "date": "2019-12-31",
      "value": 4.73
    },
    {
      "date": "2020-03-31",
      "value": 4.5600000000000005
    },
    {
      "date": "2020-06-30",
      "value": 3.58
    },
    {
      "date": "2020-09-30",
      "value": 3.38
    },
    {
      "date": "2020-12-31",
      "value": 3.17
    },
    {
      "date": "2021-03-31",
      "value": 3.06
    },
    {
      "date": "2021-06-30",
      "value": 2.71
    },
    {
      "date": "2021-09-30",
      "value": 2.7
    },
    {
      "date": "2021-12-31",
      "value": 2.7199999999999998
    },
    {
      "date": "2022-03-31",
      "value": 2.7199999999999998
    },
    {
      "date": "2022-06-30",
      "value": 2.67
    },
    {
      "date": "2022-09-30",
      "value": 2.6799999999999997
    },
    {
      "date": "2022-12-31",
      "value": 2.5
    },
    {
      "date": "2023-03-31",
      "value": 2.6100000000000003
    },
    {
      "date": "2023-06-30",
      "value": 2.6100000000000003
    },
    {
      "date": "2023-09-30",
      "value": 2.9899999999999998
    },
    {
      "date": "2023-12-31",
      "value": 3.13
    },
    {
      "date": "2024-03-31",
      "value": 3.25
    },
    {
      "date": "2024-06-30",
      "value": 3.2
    },
    {
      "date": "2024-09-30",
      "value": 3.5383775467710477
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    {
      "date": "2024-12-31",
      "value": 3.584266018563361
    },
    {
      "date": "2025-03-31",
      "value": 4.347194367821912
    },
    {
      "date": "2025-06-30",
      "value": 4.412389461506788
    },
    {
      "date": "2025-09-30",
      "value": 4.494118294556326
    },
    {
      "date": "2025-12-31",
      "value": 4.806472732977354
    },
    {
      "date": "2026-03-31",
      "value": 4.7616508336021806
    },
    {
      "date": "2026-06-30",
      "value": 4.73015322655927
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  ]
}