S&P/Experian: Mortgage default rates increase two months straight

Only once during the past 12 months has the auto finance default rate topped 1%. And the April reading remained steady on a sequential basis. This week, S&P Dow Jones Indices and Experian released.

Consistent with the option pricing view that mortgage default results from declines in house values relative to mortgage value, Table 2 shows the dramatic increase in the monthly average default rate starting in 2006. We note that during the period between 2000 and 2005 the average monthly default rate was less than 1%.

GSEs $17B bond auction endangers the mortgage bond market GSEs $17B bond auction endangers the mortgage bond market Is an over-the-counter market where a group of U.S. government securities dealers offer continuous bid and ask prices on outstanding Treasuries. There is a virtual 24-hour trading of Treasury securities.

Dangers of ARM Loans | BeatTheBush "In recent months, we have seen substantial job growth, increases in consumer spending and a rise in consumer credit outstanding." Experian also tracked the composite default rate–which includes auto loans, bank cards, and first and second mortgage liens–for the five largest U.S. cities. Four of the five saw default rates increase in August.

The default rate on first-lien mortgages in November was 0.82%, up one basis point from October, according to the S&P/Experian consumer credit default indices.. In addition to the default rate on first mortgages, the report also looks at the bank card default rate and the auto loan default rate – both of which increased for the month.

Servicers Not Doing Enough for Troubled Borrowers, Consumer Group Says "It is concerning that Sallie Mae has such a disproportionately low number of borrowers utilizing the income-based repayment program," said Persis Yu, a staff attorney at the National consumer law center. "Unfortunately, we do not have a lot of data about Sallie Mae or other servicers’ performance."

Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum. The National Association of Realtors (NAR) said Tuesday that sales of existing homes increased 2.6 percent to a seasonally adjusted annual rate of 5.04.

Consumer credit default rates reached a new low since the economic recession, according to a news release from S&P Dow Jones Indices on the latest S&P/Experian Consumer Credit Default Indices.. The comprehensive measure of changes in consumer credit defaults shows a composite rate of 0.86 percent in April, which is down seven basis points from March, according to the news release.

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Despite a slight increase in July, the default rate for first mortgage loans still sits at its lowest point in the last ten years, according to the latest S&P/Experian Consumer Credit Default Indices.

The auto loan default rate dropped five basis points to 0.94%. The first mortgage default rate was unchanged at 0.70%. Four of the major MSAs showed higher default rates compared to last month. Los.