CURepossession

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Gas prices up and consumer confidence slips again – is real delinquency coming?

Gas prices up and consumer confidence slips

Average price per gallon now $3.27, ninth straight monthly rise

I said it at the beginning of the month, and since it’s slipping again, I’ll say it again. If rising fuel prices and declining consumer confidence are any indication for what is to come for the American economy, then it isn’t pretty. The last time gas prices were this high was September 2014 and the last time consumer confidence, now down to 109.3 (down from 115.2 in August) was last February. While nationally August auto delinquency rates only rose 3 basis points to a still low 0.34% last month, signs of increasing economic strain continue their crawl toward a probable rise in delinquency and increases in repossession volume.

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