The decline was partially due to an influx of consumers defaulting on their debts, in the aftermath of the Great Recession. (valuepenguin.com)
As seen in the graph above, consumer default rates are below their pre-crisis rates, with the first mortgage and composite rates around those last witnessed in late 2006, and the second mortgage rates are near their eight - year historic low. (housingviews.com)
Investors worry that rising interest rates or deteriorating economic conditions could cause an increase in consumer defaults. (newconstructs.com)