Default rate of second mortgages U.S. 2022

The S&P/Experian second mortgage default index stood at 0.39 as of May 2022, meaning that based on data from the most recent three months, the annualized share of default second mortgages and home equity loans was 0.39 percent. This was higher than the first mortgage default rate for the same period. Although the index rose in 2022, it remained below the levels observed in December 2017, when it spiked at 1.22 percent.

S&P/Experian second mortgage default rate index in the United States from April 2012 to May 2022

Characteristic	Mortgage default rate index
May '22	0.39%
Apr '22	0.4%
Mar '22	0.4%
Feb '22	0.39%
Jan '22	0.3%
Dec '21	0.3%
Nov '21	0.26%
Oct '21	0.29%
Sep '21	0.26%
Aug '21	0.27%
Jul '21	0.29%
Jun '21	0.32%
May '21	0.36%
Apr '21	0.41%
Mar '21	0.52%
Feb '21	0.47%
Jan '21	0.48%
Dec '20	0.36%
Nov '20	0.5%
Oct '20	0.45%
Sep '20	0.49%
Aug '20	0.41%
Jul '20	0.45%
Jun '20	0.44%
May '20	0.51%
Apr '20	0.57%
Mar '20	0.58%
Feb '20	0.59%
Jan '20	0.55%
Dec '19	0.56%
Nov '19	0.52%
Oct '19	0.59%
Sep '19	0.61%
Aug '19	0.58%
Jul '19	0.48%
Jun '19	0.48%
May '19	0.49%
Apr '19	0.57%
Mar '19	0.56%
Feb '19	0.61%
Jan '19	0.56%
Dec '18	0.6%
Nov '18	0.54%
Oct '18	0.53%
Sep '18	0.55%
Aug '18	0.58%
Jul '18	0.59%
Jun '18	0.56%
May '18	0.57%
Apr '18	0.59%
Mar '18	0.69%
Feb '18	0.8%
Jan '18	1.06%
Dec '17	1.22%
Nov '17	1.08%
Oct '17	0.79%
Sep '17	0.53%
Aug '17	0.5%
Jul '17	0.5%
Jun '17	0.49%
May '17	0.54%
Apr '17	0.51%
Mar '17	0.57%
Feb '17	0.51%
Jan '17	0.48%
Dec '16	0.41%
Nov '16	0.48%
Oct '16	0.58%
Sep '16	0.56%
Aug '16	0.52%
Jul '16	0.44%
Jun '16	0.48%
May '16	0.51%
Apr '16	0.58%
Mar '16	0.59%
Feb '16	0.6%
Jan '16	0.65%
Dec '15	0.67%
Nov '15	0.67%
Oct '15	0.56%
Sep '15	0.47%
Aug '15	0.57%
Jul '15	0.55%
Jun '15	0.55%
May '15	0.42%
Apr '15	0.43%
Mar '15	0.5%
Feb '15	0.66%
Jan '15	0.64%
Dec '14	0.59%
Nov '14	0.48%
Oct '14	0.47%
Sep '14	0.52%
Aug '14	0.51%
Jul '14	0.52%
Jun '14	0.57%
May '14	0.57%
Apr '14	0.63%
Mar '14	0.6%
Feb '14	0.69%
Jan '14	0.72%
Dec '13	0.76%
Nov '13	0.78%
Oct '13	0.72%
Sep '13	0.69%
Aug '13	0.57%
Jul '13	0.54%
Jun '13	0.54%
May '13	0.6%
Apr '13	0.62%
Mar '13	0.69%
Feb '13	0.71%
Jan '13	0.69%
Dec '12	0.69%
Nov '12	0.62%
Oct '12	0.65%
Sep '12	0.64%
Aug '12	0.72%
Jul '12	0.75%
Jun '12	0.73%
May '12	0.88%
Apr '12	0.93%

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Default rate index of second mortgages in the U.S. 2012-2022