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13 Journal REPORT: CONSUMER CREDIT HEALTH STABLE According to a new report published by VantageScore, a joint venture of the three major credit bureaus, called CreditGauge covering the month of November 2022, found that consumer credit health across the country measured at a score of 697, which has been consistent over the last few months. is isn't to say there are no cracks in the system. According to VantageScore, early data shows that some consumers are turning to credit cards to cover additional expenses due to inflation as delinquencies are rising in a few categories. In turn, inflation also appears to be im- pacting consumer spending as average credit card utilization rates and balances increased on both a monthly and yearly basis. Additional findings highlighted by Van- tageScore include: Below pre-pandemic levels: Overall, delinquencies continue to be below pre-pan- demic levels but have increased compared to twelve months ago. Mortgage slowdown: Across the U.S., mortgage interest rates are near a two-decade high resulting in weak new mortgage activity. People appear to be staying put instead of moving. Card balances increase: In October, con- sumers averaged $5,600 in credit card bal- ances, as compared to $5,500 (up .8% mont over month) in credit balances in September and $4,900 in October 2021 (up 13.8% year over year). Rising interest rates and prices combined with strong consumer demand contributed to the rising balances. Rising missed auto loan payments: De- linquencies on auto loans in the 30-59 days past due category improved when compared to September but continue to record the largest year-over-year increase versus 2021 (.48%) when compared to other product types.