Consumer default ticked to the highest level in nine months as the composite index inched up two National basis point 2.24%, data from s
“Led by the mortgage market, the second half of 2011 to see a bit of a trend reversal two years at the rate of consumer credit defaults,” said David m. Blitzer, Managing Director at s
The default rate first mortgage moved a little higher, to 2.19%, while the auto loan situations see bps 10 moves, 1.27%. Second mortgage defaults also increased to 1.40% of 1.26%.
All loans are tracked, only the default level of bank card posted a decrease, down 31 basis points sequentially to 4.60% in December.
Higher level following the news of consumer credit extended to the fastest pace in a decade this November, up 12.6 billion.