Home-related loans struggled in the second quarter of 2012, while bank card delinquencies fell to an 11-year low, according to a report from the ""American Bankers Association"":http://www.aba.com.
[IMAGE] [COLUMN_BREAK]Home equity loan delinquencies increased to 4.09 percent in Q2 after falling in Q1 to 4 percent.
Home equity lines of credit (HELOC) delinquencies increased again in the second quarter, rising to 1.91 percent from 1.78 percent. In the first quarter, HELOC delinquencies rose from 1.69 percent.
Property improvement loan delinquencies saw a quarterly increase, reaching 0.90 percent from 0.83 percent.
""While the housing market appears to have turned a corner, we are many quarters away from seeing improvement filter through to reduce home-related delinquencies,"" said James Chessen, ABA's chief economist.
Bank card delinquencies had a breakthrough in the second quarter, falling to 2.93 percent from 3.08 percent. According to the ABA, this was the first time bank card delinquencies fell below three percent since 2001.
""The lack of broad-based improvement gives us pause about the future,"" Chessen said. ""The economy experienced turbulence in the second quarter. Slow job growth and continued uncertainty means many consumers will face challenges managing their debt going forward.""