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.