Aug
01
2013

Defaults hit post-recession lows

The June release of the S&P/Experian Consumer Credit Default Indices showed default rates continued to fall across all categories. The national composite* and the first mortgage default rate both hit new post-recession lows (1.34 percent and 1.23 percent, respectively). The table below summarizes the June 2013 results for the S&P/Experian Consumer Credit Default Indices.

S&P/Experian Consumer Credit Default
Indices National Indices

Index

June 2013
Index Level

May 2013
Index Level

June 2012
Index Level

Composite

1.34

1.42

1.52

First Mortgage

1.23

1.31

1.41

Second Mortgage

0.54

0.60

0.73

Bank Card

3.41

3.63

3.97

Auto Loans

1.00

1.04

1.04

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Source: S&P/Experian Consumer Credit Default Indices press release

*The national composite is the overall consumer default rate across all products.

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