First mortgage performance worsened from the previous month, while the second-mortgage rate rose from a year earlier. Dallas saw significant deterioration.
The rate of 30-day delinquency on U.S. consumer credit — including bank cards, auto loans and residential loans — closed out last year at 0.97 percent. (this was erroneously reported as 30 days when it should have been reported as 90 days)
Consumer delinquency was no different than at the end of November. However, the 30-day rate was much better than 1.11 percent as of Dec. 31, 2014.
Those details were reported as part of the
S&P/Experian Consumer Default Composite Indices.
Out of the five-largest metropolitan statistical areas, Miami had the highest delinquency rate: 1.44 percent.
At 0.65 percent, Los Angeles had the lowest composite delinquency rate.
Consumer delinquency in Dallas soared 22 basis points from November to 1.10 percent, giving the MSA the most deterioration.
On just first mortgages, the 30-day rate was 0.84 percent as of Dec. 31, 2015.
First-mortgage delinquency worsened by two BPS from a month earlier but has improved by 18 BPS from a year earlier.
Second-mortgage delinquency came in at 0.67 percent last month, no different than in November.
But the second-mortgage rate has deteriorated eight BPS compared to the the end of 2014.
