TransUnion's Q4 2024 Quarterly Credit Industry Insights Report (CIIR), released on February 20, 2025, forecasts expected growth in new account originations across several credit products in 2025, despite recent data questioning the possibility of immediate interest rate cuts.
The report anticipates gains in new auto, mortgage, and unsecured personal loans. Unsecured personal loan originations for Q3 2024, the most recent data available, stood at 5.8 million, a 15% increase year-over-year, marking the third consecutive quarter of growth.
Mortgage originations also grew 7% year-over-year in Q3 2024, and auto originations were up 1.5% year-over-year. These trends indicate a return to more typical patterns within the consumer credit market, offering opportunities for lenders and supporting TransUnion's business in providing credit risk solutions.
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