The $478 billion in Q2 2013 mortgage originations is a 10 percent increase over a year ago ($436 billion) but a 7 percent decrease from the previous quarter ($515 billion) — primarily as a result of the slowdown in refinancing activity.

The average bankcard balance per consumer in Q2 2013 was $3,831, a 1.3 percent decline from the previous year. Consumers in the VantageScore® near prime and subprime credit tiers carried the largest average bankcard balances at $5,883 and $5,903 respectively. The super prime tier carried the smallest average balance at $1,881.

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.