First and second mortgage default rates fell in June to 2.02% and 1.40% respectively, according to the Standard & Poor's /Experian Consumer Credit Default Indices. Last month the two default rates were recorded at 2.09% and 1.42%, respectively.

The default rate for auto loans also declined to 1.29% for the month, down from 1.34% in May, while bank cards enjoyed the largest decrease of 24 basis points to reach 5.69%.

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