20 states rise above TransUnion’s overall Q2 delinquency rate
According to TransUnion’s latest Industry Insights Report, 20 states registered a delinquency rate higher than what analysts pegged as the overall reading for the second quarter.
Analysts found that in Q2 of this year the auto delinquency rate connected to contracts 60 or more days past due increased to 1.11 percent, an 11-basis point rise from 1.00 percent seen in Q2 of last year. Below are the 20 states that landed above the overall level along with how much their rates jumped year-over-year:
—Louisiana: 2.26 percent, up 13.8 percent
—Mississippi: 2.16 percent, up 7.1 percent
—Alabama: 1.78 percent, up 6.4 percent
—Oklahoma: 1.72 percent, up 19.7 percent
—Georgia: 1.69 percent, up 20.8 percent
—New Mexico: 1.61 percent, up 9.9 percent
—South Carolina: 1.50 percent, up 11.6 percent
—Texas: 1.50 percent, up 19.5 percent
—Arkansas: 1.46 percent, up 13.2 percent
—Kentucky: 1.40 percent: up 10.0 percent
—West Virginia: 1.37 percent, up 17.6 percent
—Delaware: 1.33 percent, up 8.9 percent
—Missouri: 1.30 percent, up 15.7 percent
—Tennessee: 1.24 percent, up 9.2 percent
—North Carolina: 1.22 percent, up 7.1 percent
—Maryland: 1.16 percent, up 11.8 percent
—Nevada: 1.16 percent, up 12.4 percent
—Indiana: 1.14 percent, up 5.1 percent
—Michigan: 1.12 percent, up 3.8 percent
—Arizona: 1.13 percent, up 4.6 percent
Also of note, the three largest year-over-year increases didn’t come from any of those 20 states, rather from energy-industry related areas.
The sharpest spike emanated from North Dakota, where TransUnion reported delinquencies rose 32.5 percent to a rate of 0.73 percent. Other states with significant rises were Montana (up 23.7 percent to 0.83 percent), Idaho (up 22.0 percent to 0.75 percent) and Wyoming (up 21.9 percent to 1.08 percent).
Only one state registered a delinquency decrease in Q2. Analysts said it happened in New Hampshire, where the rate softened — barely — by 0.7 percent to settle at 0.64 percent.