Auto Loan Default Rate Dips

By Staff Writer July 26, 2021

The auto loan default rate was down four basis points to 0.30% through June 2021, according to the S&P/Experian Consumer Credit Default Indices released by S&P Dow Jones Indices and Experian.

The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was three basis points lower at 0.41%. The bank card default rate fell 18 basis points to 2.83%. and the first mortgage default rate decreased two basis points to 0.26%.

The table below summarizes the June 2021 results for the S&P/Experian Consumer Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.

 

Index Levels – National Indices

Index

June 2021

May 2021

June 2020

Composite

0.41

0.44

0.66

First Mortgage

0.26

0.28

0.41

Bank Card

2.83

3.01

4.23

Auto Loans

0.30

0.34

0.40

Source: S&P/Experian Consumer Credit Default Indices

Data through June 2021

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Last modified on Friday, 30 July 2021 14:54