Serious residential delinquency rates on both junior and senior liens moved minimally higher last month. Loan performance, however, remains better than last year.
Consumer credit 90-day delinquency was 1.07 percent in November. The rate reflects performance on auto loans, bank cards and first and second mortgages.
Serious delinquency edged up a basis point from the previous month but has tumbled 30 BPS compared to the same month in 2013.
The statistics were outlined Tuesday in the S&P/Experian Consumer Credit Default Indices.
The composite rate was 1.46 percent in Miami, the worst serious delinquency among the five-biggest metropolitan statistical areas. Miami’s rate surged 20 BPS from October.
In Los Angeles, the rate dropped 4 BPS to 0.80 percent — the lowest rate in November among the largest MSAs.
First-mortgage 90-day delinquency inched up 1 basis point from October to 0.97 percent.
In November 2013, the serious delinquency rate was far higher at 1.28 percent.
On second mortgages, the rate also
crept up 1 basis point to 0.48 percent last month.
But, as was the case with first mortgages, the 90-day rate was down from a year earlier — falling 30 BPS.
