Data through January 2015, released February 17, 2015, 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 a slight upward trend in default rates from recent lows seen last year. The national composite increased for a sixth consecutive month, posting a default rate of 1.12% in January, up one basis point from December 2014 and up 11 basis points since its low in July 2014. The first mortgage default rate remained flat at 1.02% in January but is 14 basis points above the July 2014 low. The second mortgage default increased by five basis points to 0.64%. The auto loan default rate rebounded from last month, up one basis point to 1.03%. Only the bank card default rate decreased, down four basis points to 2.61%.
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