S&P/Experian Consumer Credit Default Indices Show Eighth Consecutive Rise In Composite Rate In July 2022

NEW YORK, AUGUST 16, 2022: S&P Dow Jones Indices and Experian released today data through July 2022 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 rose four basis points to 0.57%. The bank card default rate fell 11 basis points to 2.44%. The auto loan default rate was four basis points higher at 0.66% while the first mortgage default rate was up four basis points to 0.42%.

Four of the five major metropolitan statistical areas (“MSAs”) showed higher default rates compared to last month. Miami had the largest increase, up 14 basis points to 1.13%. Chicago rose nine basis points to 0.67%. Los Angeles was six basis points higher, at 0.52%, while Dallas increased five basis points to 0.62%. New York dropped six basis points to 0.65%.

The table below summarizes the July 2022 results for the S&P/Experian Consumer Credit Default Indices. These data are not seasonally adjusted and are not subject to revision.

The table below provides the index levels for the five major MSAs tracked by the S&P/Experian Consumer Credit Default Indices.

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