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Is loan delinquency bullish?

SAN FRANCISCO (MarketWatch) -- The Federal Reserve said on Monday that delinquency rates on all loans jumped to their highest level since 1991, with delinquencies on credit cards hitting the highest rate on record. In addition, the Fed said, all consumer loans hit a delinquency rate of 4.7%, also the highest rate on record, while delinquencies on residential real estate hit the highest rate on record as well. Delinquencies on commercial real estate hit 6.4%, the highest rate since 1993, the Fed said.