NEW YORK, Dec. 17, 2019 /PRNewswire/ -- S&P Dow
Jones Indices and Experian released today data through November 2019 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 rose one basis point to 0.94%. The bank card default
rate increased six basis points to 2.94%. The auto loan default
rate dropped one basis point to 1.02%, and the first mortgage
default rate was unchanged at 0.77%.
Four of the five major metropolitan statistical areas ("MSAs")
showed higher default rates compared to last month. Miami showed the largest increase, up 22 basis
points to 1.53%. The default rate for Los
Angeles rose 12 basis points to 0.77%, while the rate for
New York climbed seven basis
points to 1.14%. The level for Dallas rose four basis points to 1.01%, while
the rate for Chicago was three
basis points lower at 1.14%.
The table below summarizes the November
2019 results for the S&P/Experian Consumer Credit
Default Indices. These data are not seasonally adjusted and are not
subject to revision.
National
Indices
|
Index
|
November 2019
Index Level
|
October 2019
Index Level
|
November 2018
Index Level
|
Composite
|
0.94
|
0.93
|
0.83
|
First
Mortgage
|
0.77
|
0.77
|
0.64
|
Bank Card
|
2.94
|
2.88
|
3.09
|
Auto Loans
|
1.02
|
1.03
|
0.93
|
Source:
S&P/Experian Consumer Credit Default Indices
|
Data through November
2019
|
The table below provides the index levels for the five major
MSAs tracked by the S&P/Experian Consumer Credit Default
Indices.
MSA
|
November 2019
Index Level
|
October 2019
Index Level
|
November 2018
Index Level
|
New York
|
1.14
|
1.07
|
0.83
|
Chicago
|
1.14
|
1.17
|
0.84
|
Dallas
|
1.01
|
0.97
|
0.82
|
Los
Angeles
|
0.77
|
0.65
|
0.50
|
Miami
|
1.53
|
1.31
|
1.52
|
Source:
S&P/Experian Consumer Credit Default Indices
|
Data through November
2019
|
For more information about S&P Dow Jones Indices, please
visit www.spdji.com.
ABOUT THE S&P/EXPERIAN CONSUMER CREDIT DEFAULT INDICES
Jointly developed by S&P Dow Jones Indices LLC and Experian,
the S&P/Experian Consumer Credit Default Indices are published
on the third Tuesday of each month at 9:00
am ET. They are constructed to track the default experience
of consumer balances in four key loan categories: auto, bankcard,
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 every month.
Experian's base of data contributors includes leading banks and
mortgage companies, and covers approximately $11 trillion in outstanding loans sourced from
11,500 lenders.
For more information, please visit:
www.spindices.com/indices/indicators/sp-experian-consumer-credit-default-composite-index.
ABOUT S&P DOW JONES
INDICES
S&P Dow Jones Indices is the largest global resource for
essential index-based concepts, data and research, and 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
products based on indices from any other provider in the world.
Since Charles Dow invented the first
index in 1884, S&P DJI has been innovating and developing
across the spectrum of asset classes helping to define the way
investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE:
SPGI), which provides essential intelligence for individuals,
companies and governments to make decisions with confidence. For
more information, visit www.spdji.com.
ABOUT EXPERIAN
Experian is the world's leading global information services
company. During life's big moments – from buying a home or a car,
to sending a child to college, to growing a business by connecting
with new customers – we empower consumers and our clients to manage
their data with confidence. We help individuals to take financial
control and access financial services, businesses to make smarter
decisions and thrive, lenders to lend more responsibly, and
organizations to prevent identity fraud and crime.
We have more than 16,000 people operating across 37 countries
and every day we're investing in new technologies, talented people
and innovation to help all our clients maximize every opportunity.
We are listed on the London Stock Exchange (EXPN) and are a
constituent of the FTSE 100 Index.
Learn more at www.experianplc.com or visit our global
content hub at our global news blog for the latest news and
insights from the Group
FOR MORE INFORMATION:
Ray McConville
North America Communications
New York, USA
(+1) 212 438 1678
raymond.mcconville@spglobal.com
Jordan Takeyama
Experian Public Relations
(+1) 714 830 7561
jordan.takeyama@experian.com
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SOURCE S&P Dow Jones Indices