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 |
|||
| Index |
June 2013 |
May 2013 |
June 2012 |
| 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 |
Source: S&P/Experian Consumer Credit Default Indices press release
*The national composite is the overall consumer default rate across all products.
