categories
Recent Comments
- Originations: Are Realtors Overpaid? | The Basis Point on Housing Bubble Talk Returns
- 12.61% Dividend Payer Apollo Residential Mortgage Returned 56% In 2012, Uptrend Is Still Strong on U.S. Housing And Residential Mortgage Finance 2013 Outlook: The Nascent Recovery Is Likely To Continue
- Mortgage application fraud is on the rise on U.S. Housing And Residential Mortgage Finance 2013 Outlook: The Nascent Recovery Is Likely To Continue
- Real Estate Investing News This Week 2013-04-13 on A Housing Recovery Is Buttressing U.S. Homebuilders’ Credit Quality
- Tuesday Morning Links | timiacono.com on As The Market Recovers, U.S. Single-Family Housing Activity Builds
tags
10-City Composite 20-City Composite Atlanta Boston Chicago Credit Default Indices Dallas David Blitzer Economy and Real Estate Existing Home Sales Experian home prices Las Vegas latest results Los Angeles Miami mortgages MSAs New York Phoenix residential real estate S&P/Case-Shiller S&P/Case-Shiller Home Price Indices report S&P/Experian Consumer Credit Default Indices San Francisco US Housing Prices
WP Cumulus Flash tag cloud by Roy Tanck requires Flash Player 9 or better.
The posts on this blog are opinions, not advice.
Please read our disclaimers for Ratings Services, Indices, Equity Research, Securities Evaluations and Risk Solutions
Please read our disclaimers for Ratings Services, Indices, Equity Research, Securities Evaluations and Risk Solutions
One Trackback
[...] On June 19th, S&P Indices and Experian released May 2012 data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. May data showed a decline in the composite index, led by a 26 basis point drop in first mortgage default rates. Second mortgage default rates fell by 6 basis points over the month. The national composite declined to 1.62% in May from April’s 1.86% rate, the first mortgage default rate decreased from April’s 1.76% to May’s 1.50% and the second mortgage rates declined from 0.93% in April to 0.88% in May.Source: housingviews.com [...]
First mortgage default rates decline by more than one-quarter of a percentage point in May
On June 19th, S&P Indices and Experian released May 2012 data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. May data showed a decline in the composite index, led by a 26 basis point drop in first mortgage default rates. Second mortgage default rates fell by 6 basis points over the month. The national composite declined to 1.62% in May from April’s 1.86% rate, the first mortgage default rate decreased from April’s 1.76% to May’s 1.50% and the second mortgage rates declined from 0.93% in April to 0.88% in May.
Once again, with May’s data first and second mortgage, auto and composite default rates all reached post-recession lows. All of the five cities we cover saw their default rates drop, and all five are at post-recession lows.
As seen in the graph below, consumer default rates are close to or below their pre-crisis rates, with the first mortgage and composite rates around those last witnessed in the spring of 2007, and the second mortgage rates back to the summer of 2005 levels. Consumer credit quality continues to improve.