• Tue. May 11th, 2021

S&P/Experian Consumer Credit Default Indices Show Drop

S&P/Experian Consumer Credit Default Indices Show Drop

S&P/Experian Consumer Credit Default Indices Show Drop in Composite Rate in March 2020

Bank Card Default Rate Higher For Fifth Consecutive Month

NEW YORK (STL.News) S&P Dow Jones Indices and Experian released today data through March 2020 for the S&P/Experian Consumer Credit Default Indices.  The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was three basis points lower at 0.99%.  The bank card default rate rose 53 basis points to 3.94%.  The auto loan default rate dropped eight basis points to 0.81% and the first mortgage default rate fell seven basis points to 0.77%.

Four of the five major metropolitan statistical areas (“MSAs”) showed lower default rates compared to last month.  Miami showed the largest decrease, down 23 basis points to 1.43%.  Los Angeles dropped nine basis points to 0.71%.  New York and Dallas each fell one basis point, to 0.99% and 1.01% respectively.  Chicago was the only major MSA that did not decrease, with a default rate of 1.21% unchanged from last month.

NOTE: this is NOT the complete release.

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Marty Smith

Marty Smith

Marty Smith is the acting Editor in Chief as well as the founder of STL.News, DirectSourceNews.org, and St. Louis Restaurant Review. Additionally, Smith is the IT Manager responsible for STL.News and affiliate sites. Smith has created multiple aggregator sites to manage the large amount of content used to select which content to published on STL.News. As Editor in Chief, Smith is responsible for the content posted on the network with the help of the publishing team, which is located around the globe.