S&P Dow Jones Indices and Experian released data through April 2022 for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate rose two basis points to 0.50%. The auto loan default rate rose two basis points to 0.58% while the first mortgage default rate was unchanged at 0.35%. The bank card default rate increased 25 basis points to 2.52%.

Two of the five major metropolitan statistical areas showed higher default rates compared to last month. Miami had the largest increase, up four basis points to 0.80%. Chicago rose one basis point to 0.53%. Dallas fell four basis points to 0.52% while New York dropped two basis points to 0.78%. Los Angeles was one basis point lower at 0.38%.

The table below summarizes the April 2022 results for the S&P/Experian Consumer Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.