S&P/EXPERIAN D CONSUMER CREDIT – GuruFocus.com
Auto loan default rate at highest level since December 2020
NEW YORK, May 17, 2022 /PRNewswire/ — The S&P Dow Jones and Experian indices released data today via April 2022 for S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of the evolution of consumer credit defaults and show that the composite rate rose two basis points to 0.50%. The delinquency rate for bank cards increased by 25 basis points to 2.52%. The default rate on auto loans rose two basis points to 0.58%, while the default rate on the first mortgage was unchanged at 0.35%.
Two of the top five Metropolitan Statistical Areas (“MSAs”) posted higher default rates compared to last month. miami recorded the largest increase, up four basis points to 0.80%. Chicago rose one basis point to 0.53%. dallas fell four basis points to 0.52% while New York fell two basis points to 0.78%. Los Angeles was one basis point lower at 0.38%.
The table below summarizes the April 2022 S&P/Experian Consumer Credit Default Index results. These data are not seasonally adjusted and are not subject to revision.
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Index levels – National indices |
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|
Index |
April 2022 |
March 2022 |
April 2021 |
|
Composite |
0.50 |
0.48 |
0.50 |
|
First mortgage |
0.35 |
0.35 |
0.33 |
|
Bank card |
2.52 |
2.27 |
3.23 |
|
Car loans |
0.58 |
0.56 |
0.43 |
|
Source: S&P/Experian Consumer Credit Default Indices |
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Data through April 2022 |
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The table below provides the index levels for the top five MSAs tracked by the S&P/Experian Consumer Credit Default Indices.
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Index Levels – Major MSAs |
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|
MSA |
April 2022 |
March 2022 |
April 2021 |
|
New York |
0.78 |
0.80 |
0.83 |
|
Chicago |
0.53 |
0.52 |
0.50 |
|
dallas |
0.52 |
0.56 |
0.51 |
|
Los Angeles |
0.38 |
0.39 |
0.52 |
|
miami |
0.80 |
0.76 |
1.04 |
|
Source: S&P/Experian Consumer Credit Default Indices |
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Data through April 2022 |
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For more information on the S&P Dow Jones Indices, please visit www.spglobal.com/spdji/en/.
ABOUT THE S&P/EXPERIAN CONSUMER CREDIT DEFAULT INDEXES
Jointly developed by S&P Dow Jones Indices LLC and Experian, the S&P/Experian Consumer Credit Default Indices are released on the third Tuesday of each month at 9:00 a.m. ET. They are designed to track the default experience of consumer balances in four key loan categories: auto, credit card, first mortgage lien and second mortgage lien. The indices are calculated based on data extracted from Experian’s consumer credit database. This database is populated with individual consumer loan and payment data submitted by lenders to Experian each month. Experian’s database of contributors includes leading banks and mortgage companies, and covers approximately $11 trillion outstanding loans from 11,500 lenders.
For more information, please visit: www.spindices.com/indices/indicators/sp-experian-consumer-credit-default-composite-index.
ABOUT THE S&P DOW JONES INDICES
S&P Dow Jones Indices is the world’s largest resource for essential index-based concepts, data and research, and is home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than in products based on indices of any other provider in the world. Since Charles Dow Invented the first index in 1884, S&P DJI innovates and expands across the spectrum of asset classes helping to define how investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential information for individuals, businesses and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.
ABOUT EXPERIAN
Experian is the world leader in information services. During life’s big moments – from buying a house or car, to sending a kid to college, to growing a business by connecting with new customers – we enable consumers and our customers to manage their data with confidence. We help individuals gain financial control and access financial services, businesses make smarter decisions and thrive, lenders lend more responsibly, and organizations prevent identity theft and crime. .
We have 17,800 people operating in 45 countries and every day we invest in new technologies, talented people and innovation to help all of our customers maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are part of the FTSE 100 index.
Learn more about www.experianplc.com or visit our global content hub on our world news blog for the latest news and insights from the Group.
FOR MORE INFORMATION:
Ray McConville
Communications North America
New York, United States
(+1) 212 438 1678
[email protected]
Annie Russell
Experian Public Relations
(+1) 714 830 7927
[email protected]
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SOURCES S&P Dow Jones Indices