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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