Drop in Auto Loan Default Rate in May

Loan default

SubPrime News - June 22, 2011

Accord­ing to the S&P/Experian Con­sumer Cred­it Default Indices, the auto loan default rate dropped from 1.45 per­cent in April to 1.34 per­cent in May. More­over, first and sec­ond mort­gage default rates decreased in May to 2.09 per­cent and 1.42 per­cent, respec­tive­ly, from April val­ues of 2.16 per­cent and 1.51 per­cent. As for bank cards, they expe­ri­enced a slight increase in defaults from 5.91 per­cent to 5.93 per­cent.


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