NEW YORK, NY (STL.News) S&P Dow Jones Indices and Experian released today data through April 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 nine basis points lower at 0.90%. The bank card default rate rose 29 basis points to 4.23%. The auto loan default rate dropped 15 basis points to 0.66% and the first mortgage default rate fell 11 basis points to 0.66%.
Three of the five major metropolitan statistical areas (“MSAs”) showed lower default rates compared to last month. Chicago showed the largest decrease, down 15 basis points to 1.06%. Dallas fell 13 basis points to 0.88%, while New York dropped four basis points to 0.95%. Miami increased 11 basis points to 1.54% while Los Angeles rose three basis points to 0.74%.
NOTE: this is NOT the complete report