Consumer credit defaults dropped to a new post-recession low during April, S&P Dow Jones Indices and Experian reported.

The comprehensive measure of changes dropped seven basis points between March and April—reaching 0.86%. First mortgage defaults dropped eight basis points, to 0.69%. Auto loan defaults decreased five basis points, to 0.97%, while the bank card default rate increased 17 basis points in April, recording a default rate of 3.09%.

"For two months, the overall consumer credit default rate has dropped to new lows while the default rate on bank cards has climbed," David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, said. "Since the financial crisis, consumers are paying more attention to their debts, particularly longer term financial commitments such as homes and autos."

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