S&P/Experian Consumer Credit Default Indices Show Composite Rate Unchanged In July
Monday, August 24th, 2020
S&P Dow Jones Indices and Experian released today data through July 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 unchanged at 0.66%. The bank card default rate fell 37 basis points to 3.86%. The auto loan default rate rose 7 basis points to 0.47% and the first mortgage default rate was 3 basis points higher at 0.44%
Three out the five major metropolitan statistical areas ("MSAs") showed higher default rates compared to last month. Miami showed the largest increase, up 43 basis points to 1.83%. New York was 12 basis points higher at 0.86%, while Los Angeles was up three basis points to 0.75%. Dallas fell five basis points to 0.61% and Chicago was two basis points lower at 0.67%.
The table below summarizes the July 2020 results for the S&P/Experian Consumer Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.
|
National Indices |
|||
|
Index |
July 2020 Index Level
|
June 2020 Index Level
|
July 2019 Index Level
|
|
Composite |
0.66 |
0.66 |
0.85 |
|
First Mortgage |
0.44 |
0.41 |
0.62 |
|
Bank Card |
3.86 |
4.23 |
3.77 |
|
Auto Loans |
0.47 |
0.40 |
0.89 |
|
Source: S&P/Experian Consumer Credit Default Indices |
|||
|
Data through July 2020 |
|||
The table below provides the index levels for the five major MSAs tracked by the S&P/Experian Consumer Credit Default Indices.
|
MSA |
July 2020 Index Level
|
June 2020 Index Level
|
July 2019 Index Level
|
|
New York |
0.86 |
0.74 |
0.89 |
|
Chicago |
0.67 |
0.69 |
0.95 |
|
Dallas |
0.61 |
0.66 |
0.83 |
|
Los Angeles |
0.75 |
0.72 |
0.74 |
|
Miami |
1.83 |
1.40 |
1.34 |
|
Source: S&P/Experian Consumer Credit Default Indices |
|||
|
Data through July 2020 |
|||
For more information about S&P Dow Jones Indices, please visit www.spdji.com.
