Auto Loan Default Rate Rises

By Staff Writer December 28, 2021

The S&P/Experian Consumer Credit Default Indices for November 2021 shows the auto loan default rate was up six basis points to 0.44%.

The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate fell one basis point to 0.37%. The bank card default rate dropped seven basis points to 1.94% while the first mortgage default rate was unchanged at 0.26%.

Two of the five major metropolitan statistical areas showed lower default rates compared to last month. New York had the largest decline, down six basis points to 0.30%, while Dallas fell one basis point to 0.49%. Miami and Chicago were unchanged at 0.73% and 0.45% respectively. Los Angeles was the only MSA which increased, up four basis points to 0.34%.

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Last modified on Monday, 03 January 2022 15:23