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Lenders could gain efficiencies from advances in artificial intelligence as the related development of alternative data potentially opens up the market to more borrowers, but hurdles exist.

Edward Gottfried is the VP of product at Betterment at Work

In July, month-to-month missed payments increased but improved on an annual basis because a lower share of borrowers were 90 days or more late.

The rise in the number of reductions runs against typical seasonal norms, Redfin said.

With two decades of experience in the insurance industry, Simon Pascoe is a seasoned professional in both brokerage and underwriting. Prior to his role as a director at FD Beck, Simon enjoyed a successful 8-year management career with one of the world's largest general insurers.

Commercial real estate borrowers, including vulnerable office tower landlords, are increasingly struggling to make payments and, as a result, more lenders are expected to report higher credit costs.

John Mullane is director of market operations, accounting and finance, at the staffing and recruiting firm Aston Carter.

Policymakers should instead focus on how different components of core inflation are decelerating — with cooling still needed especially in housing inflation.

The combination of inflation and rising interest rates over the last 18 months has made it more difficult for Americans to stay on top of their loan payments, especially on credit cards and auto loans.