Auto Loan Default Rates Rise

By Staff Writer January 20, 2022

Data through December 2021 released by S&P Dow Jones Indices and Experian shows that the auto loan default rate was up five basis points to 0.49%.

The S&P/Experian Consumer Credit Default Indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate rose three basis points to 0.40%. The bank card default rate increased one basis point to 1.95% while the first mortgage default rate was two basis points higher at 0.28%.

Three of the five major metropolitan statistical areas showed higher default rates compared to last month. Miami had the largest increase, up 24 basis points to 0.97%. New York was three basis points higher at 0.33% and Los Angeles was up two basis points to 0.36%. Dallas was unchanged at 0.49% while Chicago fell one basis point to 0.44%.

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Last modified on Friday, 21 January 2022 16:06