NEW YORK, DECEMBER 20, 2022: S&P Dow Jones Indices and Experian released today data through November 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 was two basis points higher at 0.59%. The bank card default rate was 16 basis points higher at 2.62% while the first mortgage default rate was up one basis point to 0.42%. The auto loan default rate was unchanged at 0.77%.
Two of the five major metropolitan statistical areas (“MSAs”) showed higher default rates compared to last month. Chicago had the largest increase, up eight basis points to 0.71%. New York rose six basis points to 0.66% while Los Angeles was unchanged at 0.36%. Dallas was down six basis points to 0.58% and Miami fell by 11 basis points to 0.70%.
The table below summarizes the November 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.
