The impetus is that 90% of our country is in recession and the rest are soon to follow. Delinquencies are rising fast and not just in subprime. Layoffs are at levels not seen since 2008. Crypto, tech stocks and many housing markets have already peaked or are already in bear markets. The crash is here and it's inevitably going to get worse.
The overall rates are increasing but contagion takes time to spread from subprime which are getting hit much harder, credit card, car and student loan in particular. They will spike when things really hit the fan, first the asset values have to deflate.
