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Data through March, released by the S&P/Experian Consumer Credit Default Indices, shows mortgage defaults fell to 2.33 percent from 2.45 percent in February. It was the fourth consecutive month of declines in mortgage default rates and puts them 41 percent below year-before levels. David M. Blitzer, managing director and chairman of the Index committee for S&P Indices, said declining debt levels, combined with the economic recovery, are supporting lower defaults and improvement in consumers’ financial condition which should help maintain the recovery. The indices track defaults of consumer balances across major loan categories. More here.
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