Consumers are facing ‘widespread’ rise in loan delinquencies

Consumers have been facing a “widespread” rise in loan delinquencies since the Federal Reserve began jacking up interest rates last year, according to Ned Davis Research.

Credit-card delinquencies rose 21 basis points to almost 3% in the third quarter of this year, the highest level since the first quarter of 2012 (see chart), when looking at past due debt held by commercial banks.

Late…