The S&P/Experian Consumer Credit Default Indices through July 2021 show that the composite rate declined one basis point to 0.40%. The bank card default rate fell 32 basis points to 2.51%. 

This is the fourth straight month that the indices have fallen, according to the company, but not every index saw a decline in July. Specifically, the auto loan default rate was up one basis point to 0.31%.

The first mortgage default rate also increased one basis point in July to 0.27%.

Three of the five major metropolitan statistical areas (“MSAs”) showed lower default rates compared to last month. 

Dallas decreased two basis points to 0.40%, while New York and Los Angeles each dropped one basis point to 0.42% and 0.36%, respectively. Miami was nine basis points higher, at 0.51%, while Chiacago increased one basis point to 0.39%. 

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