(December 20, 2012) ATLANTA — According to Equifax's latest National Consumer Credit Trends Report, consumer credit originated year-to-date through September 2012 has increased nearly 30% to $675 billion from $523 billion during the same time frame in 2010.

Comparatively, credit originations today are below the 2006-2007 pre-recession levels of about $1 trillion by about one-third.

Of note, balances on consumer credit originated over the past two years represents about 32% of outstanding balances, but only comprises slightly less than 6% of total delinquent balances, reflecting better underwriting and more responsible consumer payment behavior. In turn, consumer finance write offs have declined more than 53% to $70.9 billion year-to-date through November 2012, after peaking at $151.8 billion during the same timeframe in 2009.

"Consumer spending is being supported by gradually opening credit markets, with higher new limits on accounts, a gradual upward trend in non-mortgage consumer debt outstanding, and also consistently low utilization rates," said Equifax Chief Economist Amy Crews Cutts. "Meanwhile, consumer finance delinquency rates, not including home loans, have returned to pre-recession levels — all signs that the consumer-led recovery is gaining strength heading into 2013."

Specifically to autos:

    • Auto loans originated year-to-date through September 2012 totaled 16.4 million – an increase of more than 11% from same time a year ago and a five-year high.

    • At more than 58 million through November 2012, the total number of outstanding loans is at its highest level in 37 months.

    • Similarly, auto loan balances continue rising – through November 2012, balances totaled $775.7 billion, a 45-month high.

    • Auto loan amounts originated year-to-date through September 2012 ($318.2 billion) are more than 33% higher than the recession low for same time in 2009 ($210.2 billion).