S&P/EXPERIAN Consumer Credit Default Indices Show Fifth Straight Drop in Composite Rate in August 2021

Bank Card and Composite Rate at Lowest Levels Since 2004

NEW YORK, SEPTEMBER 21, 2021: S&P Dow Jones Indices and Experian released today data through August 2021 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 one basis point lower at 0.39%. The bank card default rate fell 16 basis points to 2.35%. The auto loan default rate was up three basis points to 0.34% and the first mortgage default rate was unchanged at 0.27%.

Three of the five major metropolitan statistical areas (“MSAs”) showed higher default rates compared to last month. Chicago had the largest increase, up four basis points to 0.43%. New York rose two basis points to 0.44% while Dallas was one basis point higher at 0.41%. Los Angeles dropped two basis points to 0.34% while Miami fell three basis points to 0.88%.

The table below summarizes the August 2021 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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