U.S. timeshare ABS delinquencies dropped in the second quarter, according to the latest timeshare index results from Fitch Ratings .

Total delinquencies for 2Q12 were 3.29%, down from 3.58% in 1Q12. Year-over-year total delinquencies remain consistent with the 2Q11 level of 3.28%. Delinquencies have normalized at their historical levels following the dramatic increases that occurred in 2008 and 2009.

2Q12 defaults rose slightly to 0.81% from 0.82% in 1Q12, also reflecting a seasonally consistent pattern.

Timeshare default trends typically lag those of delinquencies. Defaults have also remained relatively consistent year-over-year, increasing nominally from 0.80% during the same period last year. 

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