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First mortgage default rate drives increase in national credit default rate

Published: January 21, 2013 by admin

The December release of the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed the national composite* increased for the second consecutive month, reaching 1.64 percent in November. The first mortgage default rate also continued its increase, moving from 1.47 percent in October to 1.58 percent in November. All other loan types – auto loans, bankcard and second mortgage – posted decreases in their default rates in November.

Learn how to stay ahead of consumer credit trends with IntelliViewSM, a Web-based query, analysis and reporting tool. IntelliView was used to compile the list of the 10 states with the highest average bankcard balance.

Source: S&P/Experian Consumer Credit Default Indices press release

*The national composite is the overall consumer default rate across all products.

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