Consumer Credit Update for 2Q 2023
South State Correspondent
AUGUST 16, 2023
This data is consistent across regions. We should see a slight increase in production in 2025 and 2026 driven by lower rates. Gen Z and Millennials are now using credit on their cards which was not seen before 2020. Home equity lines of credit (HELOCs) and bank card usage are up 24% and 17%, respectively.
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