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The U.S. first mortgage default rate was 3.3 percent in June, down 5 percent month-over-month and 45.2 percent year–over–year, according to a report from Standard & Poor’s and Experian, released today. Second mortgage defaults also declined to 2.4 percent, down .03 percent from May and 44.5 percent from June 2009. Overall, consumer credit defaults, which include defaults on bank card loans and auto loans in addition to mortgages, dropped to 3.44 percent in June, a 4.5 percent month-over-month dip and a 40 percent decline year–over–year, according to the report. Miami, with a 8.53 percent default rate, saw consumer credit defaults drop 8.1 percent month-over-month and 53.6 percent year–over–year. TRD