Although serious delinquency on other types of consumer credit products was higher last month, the rate on residential loans improved.
Consumer credit delinquency of at least 90 days was 1.35 percent as of the end of last year.
The past-due rate — which reflects performance on first and second mortgages, bank cards and auto loans — was down 2 basis points from November and 37 BPS better than in December 2012.
The statistics were based on the S&P/Experian Consumer Credit Default Indices released Tuesday.
Miami’s composite rate soared 28 BPS from November to 2.74 percent last month and was the highest among the five-biggest metropolitan statistical areas.
Los Angeles, on the other hand, saw its rate drop 12 BPS to 1.07 percent — the lowest among the biggest MSAs.
Zeroing in on just first mortgages, U.S. 90-day delinquency was 1.27 percent, improving from 1.28 percent in November.
First mortgage delinquency was 1.68 percent as of Dec. 31, 2012.
Second mortgage delinquency was down 2 BPS to 0.76 percent as of the end of last month.
A year earlier, serious delinquency on second mortgages was 0.69 percent.
