S&P/EXPERIAN CONSUMER CREDIT DEFAULT INDICES SHOW COMPOUND RATES, AUTO LOANS AND FIRST MORTGAGE RATES STABILIZED IN SEPTEMBER 2022

Bank card delinquency rate fell for third straight month

NEW YORK, October 18, 2022 /PRNewswire/ — The S&P Dow Jones and Experian Indices released data today via September 2022 for S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of the evolution of consumer credit defaults and show that the composite rate has remained unchanged over the past three months at 0.57%. The delinquency rate for bank cards fell by three basis points to 2.38%. Default rates for auto loans and first mortgages remained unchanged at 0.72% and 0.42%, respectively.

All five major Metropolitan Statistical Areas (“MSAs”) posted lower default rates than last month. miami posted the largest decline, down 17 basis points to 0.99%. Chicago was nine basis points below 0.61, and Los Angeles was down seven basis points at 0.38. dallas fell five basis points to 0.64, and New York fell one basis point to 0.57.

The table below summarizes the September 2022 S&P/Experian Consumer Credit Default Index results. These data are not seasonally adjusted and are not subject to revision.

Index levels – National indices





Index

September 2022

August 2022

September 2021

Composite

0.57

0.57

0.39

First mortgage

0.42

0.42

0.27

Bank card

2.38

2.41

2.11

Car loans

0.72

0.72

0.35

Source: S&P/Experian Consumer Credit Default Indices

Data through September 2022

The table below provides the index levels for the top five MSAs tracked by the S&P/Experian Consumer Credit Default Indices.

Index Levels – Major MSAs





MSA

September 2022

August 2022

September 2021

New York

0.57

0.58

0.40

Chicago

0.61

0.70

0.43

dallas

0.64

0.69

0.43

Los Angeles

0.38

0.45

0.31

miami

0.99

1.16

0.80

Source: S&P/Experian Consumer Credit Default Indices

Data through September 2022

For more information on the S&P Dow Jones Indices, please visit www.spglobal.com/spdji/en/.

ABOUT THE S&P/EXPERIAN CONSUMER CREDIT DEFAULT INDEXES

Jointly developed by S&P Dow Jones Indices LLC and Experian, the S&P/Experian Consumer Credit Default Indices are released on the third Tuesday of each month at 9:00 a.m. ET. They are designed to track the default experience of consumer balances in four key loan categories: auto, credit card, 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 each month. Experian’s database of contributors includes leading banks and mortgage companies, and covers approximately $11 trillion outstanding loans with 11,500 lenders.

For more information, please visit: www.spindices.com/indices/indicators/sp-experian-consumer-credit-default-composite-index.

ABOUT THE S&P DOW JONES INDICES

S&P Dow Jones Indices is the world’s largest resource for essential index-based concepts, data and research, and is 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 in products based on indices of any other provider in the world. Since Charles Dow Invented the first index in 1884, S&P DJI innovates and expands across the spectrum of asset classes helping to define how investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential information for individuals, businesses and governments to make decisions with confidence. For more information visit www.spglobal.com/spdji/en/.

ABOUT EXPERIAN

Experian is the world leader in information services. During life’s big moments – from buying a house or car, to sending a kid to college, to growing a business by connecting with new customers – we enable consumers and our customers to manage their data with confidence. We help individuals take financial control and access financial services, businesses make smarter decisions and thrive, lenders lend more responsibly, and organizations prevent identity theft and crime. .

We have 20,600 people operating in 43 countries and every day we invest in new technologies, talented people and innovation to help all of our customers maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are part of the FTSE 100 index.

To find out more, visit www.experianplc.com or visit our global content hub on our global news blog for the latest Group news and information.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian. Other product or company names mentioned herein are the property of their respective owners.

FOR MORE INFORMATION:
[email protected]

April Kabahar
Communications Manager
S&P Dow Jones Indices
New York, United States
(+1) 917 796 3121
[email protected]

Lauren Davis
Communications Americas
S&P Dow Jones Indices
New York, United States
(+1) 484 269 7118
[email protected]

Annie Russell
Experian Public Relations
(+1) 714 830 7927
[email protected]

SOURCES S&P Dow Jones Indices