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Tag Archives: Consumer Credit Default

Mortgage Default Rates Decline, Driving Consumer Credit Default Index Down

The default rates for both first mortgages and second mortgages dropped from August to September, fueling the decline in the composite index. The first mortgage default rate fell by eight basis points down to 0.76 percent and the second mortgage default rate dropped by 10 basis points down to 0.47 percent in September. Both rates are close to the historic lows for the first and second mortgage default rates of 0.74 percent and 0.42 percent, respectively, both reached in May 2015.

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