Consumer Credit Default Rates Drop

By Staff Writer May 20, 2020

The S&P/Experian Consumer Credit Default Indices show the composite rate of consumer credit defaults was nine points lower at 0.9 percent. It also showed the auto loan default rate dropped 15 basis points to 0.66 percent

The data, released from the S&P Dow Jones Indices and Experian through April 2020, represent a comprehensive measure of changes in consumer credit. It showed the bank card default rate rose 29 basis points to 4.23 percent. and the first mortgage default rate fell 11 basis points to 0.66 percent.

(PRNewsfoto/S&P Dow Jones Indices)
(PRNewsfoto/S&P Dow Jones Indices)

Three of the five major metropolitan statistical areas showed lower default rates compared to last month Miami increased 11 basis points to 1.54 percent while Los Angeles rose three basis points to 0.74 percent.f the five major metropolitan statistical areas showed lower default rates compared to last month. Chicago showed the largest decrease, down 15 basis points to 1.06 percent. Dallas fell 13 basis points to 0.88 percent, while Los Angeles rose three basis points to 0.74 percent.

The table below summarizes the April 2020 results for the S&P/Experian Consumer Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.

  

National Indices

 

 

 

 

 

Index

April 2020
 Index Level

March 2020
 Index Level

April 2019
 Index Level

Composite

0.90

0.99

0.88

First Mortgage

0.66

0.77

0.65

Bank Card

4.23

3.94

3.83

Auto Loans

0.66

0.81

0.94

Source: S&P/Experian Consumer Credit Default Indices

Data through April 2020

 

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Last modified on Wednesday, 20 May 2020 14:30

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