HousingWire – Brena Swanson
Consumer default rates rose in August, reversing a long downward trend, the most recentS&P/Experian Consumer Credit Default Indices showed. The overall national composite jumped two basis points from last month’s historical low to 1.03% in August. The indices show a comprehensive measure of changes in consumer credit defaults. And after nine months of decline, the first mortgage default increased to .91%. But that modest increase might be expected as home sales grow.
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