Auto Loan Default Rate Rises

By Staff Writer September 21, 2022

S&P Dow Jones Indices and Experian on Sept. 20 released data through August 2022 for the S&P/Experian Consumer Credit Default Indices. The auto loan default rate was six basis points higher at 0.72% while the first mortgage default rate was unchanged at 0.42%.

The bank card default rate fell three basis points to 2.41%.

The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was unchanged at 0.57%.

Three of the five major metropolitan statistical areas showed higher default rates compared to last month. Dallas had the largest increase, up seven basis points to 0.69%. Miami and Chicago each rose three basis points, to 1.16% and 0.70% respectively. New York and Los Angeles each dropped seven basis points, to 0.58% and 0.45% respectively.

Rate this item
(0 votes)
Last modified on Tuesday, 27 September 2022 13:23