The auto loan default rate was up three basis points to 0.38%, according to data released by S&P Dow Jones Indices and Experian through October 2021.

The S&P/Experian Consumer Credit Default Indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate fell one basis point to 0.38%. The bank card default rate dropped 10 basis points to 2.01%. and the first mortgage default rate was one basis point lower at 0.26%.

Three of the five major metropolitan statistical areas showed lower default rates compared to last month. Miami had the largest decline, down seven basis points to 0.73%. New York fell four basis points to 0.36% while Los Angeles dropped one basis point to 0.30%. Chicago was two basis points higher at 0.45% while Dallas was up seven basis points to 0.50%.