Auto Default Rate Unchanged

By Staff Writer January 21, 2021


S&P Dow Jones Indices and Experian released data ending December 2020 for the S&P/Experian Consumer Credit Default Indices.

The auto loan default rate was unchanged at 0.64 percent and the first mortgage default rate was one basis point higher at 0.29 percent. The bank card default rate rose seven basis points to 2.63 percent.

The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was unchanged at 0.46 percent.

Two of the five major metropolitan statistical areas showed lower default rates compared to last month. Los Angeles and Chicago each decreased two basis points, to 0.35 percent and 0.52 percent respectively. Dallas and Miami were both unchanged, at 0.56 percent and 0.86 percent respectively. New York was the only MSA to show an increase, up one basis point to 0.42 percent.

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Last modified on Thursday, 21 January 2021 14:09