NEW YORK -

December's reading for the auto loan segment of the S&P/Experian Consumer Credit Default Indices is squarely in between the level analysts spotted a month earlier and during the closing month of 2012.

S&P Dow Jones Indices and Experian reported that the auto loan default rate stood at 1.12 percent in December, down from 1.15 percent during the previous month. A year earlier, analysts pinpointed the rate at 1.09 percent.

The month-over-month auto loan default movement mirrored what happened among the other credit markets S&P and Experian track.

The national composite rate of the S&P/Experian Consumer Credit Default Indices , a comprehensive measure of changes in consumer credit defaults, showed a decline in national default rates during the month.

The composite rate came in at 1.35 percent in December, a slight decrease from 1.37 percent in November.

Elsewhere, analysts said the first mortgage default rate was 1.27 percent in December, marginally down from 1.28 percent a month earlier.

The second mortgage rate settled at 0.76 percent in December, down from 0.78 percent in November.

The bank card rate rose to 2.98 percent, slightly higher than the historic low rate of 2.97 percent during the past two months.

"Consumers' financial condition continues to improve," said David Blitzer, managing director and chairman of the index committee for S&P Dow Jones Indices.

"Across all categories default rates are continuing a downward trend," Blitzer continued.

"Other data confirm the improving trends: mortgage foreclosures were sharply lower in 2013 compared to 2012, the Federal Reserve's measure of consumer debt service as a percentage of income is at a record low and consumer credit usage is expanding," he went on to say.

"The indices remain at pre-financial crisis levels," Blitzer added.

Looking at the five largest U.S. metro markets analysts monitor, four out of the five cities saw default rate increases.

Miami produced the highest increase, climbing to 2.74 percent in December and 28 basis points higher than the previous month's level.

Meanwhile, Los Angeles saw its default rate decline for a fifth consecutive month, ticking down to 1.07 percent. That's the lowest default rate for the City of Angels since July 2006.

"Miami has the highest rate among the five cities while Los Angeles had the lowest," Blitzer said. "Four cities — Chicago, Los Angeles, Miami and New York — remain below default rates they posted a year ago, in December 2012."

Jointly developed by S&P Indices and Experian, Blitzer reiterated the S&P/Experian Consumer Credit Default Indices are published monthly with the intent to accurately track the default experience of consumer balances in four key loan categories: auto, bankcard, first mortgage lien and second mortgage lien.

The indices are calculated based on data extracted from Experian's consumer credit database. This database is populated with individual consumer loan and payment data submitted by lenders to Experian every month.

Experian's base of data contributors includes leading banks and mortgage companies and covers approximately $11 trillion in outstanding loans sourced from 11,500 lenders.