National Consumer Credit Default Rates Reach New Lows in May 2015 According to the S&P/Experian Consumer Credit Default Indices
The first mortgage default rate reported a historical low, down nine basis points to 0.74%. The second mortgage default rate additionally posted a second consecutive historical low of 0.42%, down one basis point from the precedent month. The bank card default rate reported its first decrease since January 2015 with a rate of 2.98%, a decrementation of 20 points, its most immensely colossal reported decrease since October 2013.The auto loan default rate reported a historical low of 0.86%, a decrementation of eight basis points.Miami withal reported its second consecutive decrease, down three basis points to a reported rate of 1.17%. Chicago reported its third consecutive decrease, posting a default rate of 1.00%, down five basis points from the precedent month.
Los Angeles reported the only rate increase, an incrementation of five basis points to 0.95%, its third consecutive monthly increase.