"All loan types, with the exception of bank cards, saw a decrease in default rates for the fourth consecutive month, according to data through April released by S&P Indices and Experian for the S&P/Experian Consumer Credit Default Indices.
The auto loan default rate hit its lowest in its eight-year history - 1.07 percent in April, down from March's 1.11 percent.
All four loan types that decreased posted their lowest rates since the end of the recent economic crisis. The national composite declined to 1.86 percent in April from its 1.96 percent March rate.
The first mortgage default rate decreased from March's 1.88 percent to April's 1.76 percent. The second mortgage default rate also declined from 1.03 percent in March to 0.93 percent in April. "Bank card" was the only loan type where default rates increased marginally in April, to 4.49 percent from its 4.47 percent March level." [Read more]
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