WASHINGTON, D.C. — Despite the mild slowdown in the economy during 2016’s opening quarter, 30-day or more delinquencies fell in seven of the 11 loan categories tracked by the American Bankers Association (ABA).

The association’s composite ratio, which tracks 30-day delinquencies in eight closed-ended installment loan categories, including loans originated through the indirect auto finance channel, fell three basis points to 1.38% of all account — continuing a three-year trend of remaining well below the 15-year average of 2.23%.

“More people have jobs, wages are higher, home values have increased and consumers didn’t overextend themselves during the holiday season,” said James Chessen, the ABA’s chief economist, adding that consumers “have shown a remarkable ability to ensure their debt levels are manageable.”

Home-related delinquencies fell in two out of the three categories, with home equity line delinquencies falling three basis points to 1.15% of all accounts. Home equity loan delinquencies, however, rose six basis point to 2.74% of all accounts, after falling 23 basis points in the previous quarter. Property improvement loan delinquencies fell three basis points to 0.89% of all accounts.

“The first quarter marks the first time since 2008 that both home equity loan and line delinquencies are at or below their 15-year averages,” the association noted.

In the auto space, indirect auto loan delinquencies fell from 1.54% in the year-ago quarter to 1.45%, while direct auto loan delinquencies rose from 0.75% to 0.81%. RV loan delinquencies fell from 0.96% in the year-ago period to 0.92%, while marine loan delinquencies fell from 0.92% to 0.89%.

Also in the closed-end category, personal loan delinquencies remained at 1.44%, while mobile home delinquencies rose from 3.16% to 3.41%.

In the open-end loan categories, bank card delinquencies fell from 2.52% in the year-ago period to 2.47%, while non-card revolving loan delinquencies fell from 1.63% to 1.57%.

The ABA’s Chessen said he expects low delinquencies levels to continue amid stable economic conditions in the United States. “With household wealth near an all-time high and economic fundamentals holding steady, delinquencies are likely to remain near these historic lows,” he said.