All five major metropolitan statistical areas (MSAs) surveyed posted lower default rates in September, according to data from S&P Dow Jones Indices and Experian.

The S&P/Experian Consumer Credit Default Indices, which is a comprehensive measure of changes in consumer credit defaults, showed that that overall composite rate fell four basis points month over month to 0.63%.

The first mortgage default rate was two basis points lower at 0.46%, and the bank card default rate was down 45 basis points to 3% in September. Meanwhile, the auto loan default rate increased three basis points to 0.56%.

Among the five MSAs, Miami experienced the largest decrease in composite rates, down 19 basis points to 1.80%. New York followed at 0.88%, down eight basis points, while Los Angeles dropped five basis points to 0.71%. The rate for Dallas dwindled three basis points to 0.62% while Chicago was one basis point lower at 0.65%.