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New York Fed data shows that delinquencies among subprime borrowers have been rising and have been the catalyst pushing up the overall delinquency rate. About 8% of loans originated by buyers with a credit score under 620 are categorized as seriously late. Fed researchers called this data "a development that is surprising during a strong economy and labor market."

Millions of Americans are finding it virtually impossible to keep up with their car payments, despite supposed "economic growth" and low unemployment, according to Reuters. In fact, more than 7 million Americans are already late by 90 days or more on their car loans, according to data from the New York Federal Reserve, as delinquency rates among borrowers with low credit scores have seen the fastest acceleration