Data through October 2014, released November 19, 2014, by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, continued to show an increase in default rates. The national composite posted 1.06% in October, up two basis points from September 2014. For the third consecutive month, the first mortgage default rate rose, to 0.96% in October. Despite the rise, the second mortgage default rate declined to 0.47%. The bank card rate continued its decline for the fourth consecutive month, declining by 3 basis points to a historical low of 2.60%.
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