NEW YORK -

The auto default rate in December came in at the same pace analysts spotted during the previous month and at nearly the same level or even much lower than what they noticed to close the calendar going back 10 years.

According to data through December released by S&P Dow Jones Indices and Experian on Tuesday, the auto loan default rate remained unchanged at 1.02%. That’s also the same rate analysts noticed when 2014 finished.

At the end of 2018 as well as 2016, the rate stood at 1.03%. You have to go back to data S&P and Experian compiled a decade ago to spot default rates significantly higher at the end of a year. Analysts reported that 2010 finished with the rate at 1.69% while 2009 wrapped up with the rate 2.67%, the high point of their available data set.

Turning back to the most recent recap of the S&P/Experian Consumer Credit Default Indices, analysts found that the composite rate — which represents a comprehensive measure of changes in consumer credit defaults — rose two basis points to 0.96%.

The bank card default rate edged 1 basis point higher to 2.95%. and the first mortgage default rate ticked up 3 basis points to 0.80%.

Looking next at the five major metropolitan statistical areas S&P and Experian track each month, the firms noticed two cities posted higher default rates in December compared to the previous month.

Miami generated the largest increase, rising 17 basis points to 1.70%, while Los Angeles rose 3 basis points to 0.80%.

New York and Chicago both decreased 5 basis points to settle at 1.09%.

Dallas also had a decline to finish 2019, dipping 3 basis points to come in at 0.98%.

Jointly developed by S&P Indices and Experian, analysts noted 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.