Morning Minute: Chicago consumer credit default rate at lowest level since recession

Fewer consumers in Chicago are defaulting on their credit, according to the latest S&P/Experian Consumer Credit Default Indices. In fact, the national credit default rate is now at an eight-year low. Of the five cities tracked for the indices, all but one, New York, saw default rates decrease. Consumer credit includes mortgage loans, auto loans and bank cards. Read more about the mortgage angle in today’s HousingWire article, “Mortgage default rates continue to trend down.

In other headlines:

Freddie Mac bets big on low down payment mortgages – HousingWire

Should You Help Your Child Buy a Home? – Wall Street Journal

May housing starts, permits slip more than 6% – USA Today

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.