Chalk it up to prudent underwriting or an economy gaining some collective stream, but the auto portion of the S&P/Experian Consumer Credit Default Indices is at its lowest point ever.

Data through April released by S&P Dow Jones Indices and Experian on Tuesday shows that the auto loan default rate dipped to a new historic low, ticking down to 0.92 percent.

That April movement established a new default low set only a month earlier. In March, the auto loan default reading came in at 0.99 percent.

Meanwhile, the national composite rate — a comprehensive measure of changes in consumer credit defaults — declined to the lowest level post-recession. The April reading was 1.11 percent, the lowest default rate since June 2006.

In other credit segments, the first mortgage default rate continued its downward trend, coming in at 1.01 percent in April. The move marked the seventh consecutive month of decline and lowest level seen since July 2006.

However, analysts mentioned both the bank card and second mortgage markets saw their default rates increase. The bank card rate was 2.84 percent and the second mortgage segment posted a rate of 0.63 percent in April.

“The prospect for further gains in economic activity and consumer confidence is good as shown by the continuing decline in consumer credit default rates,” said David Blitzer, managing director and chairman of the index committee for S&P Dow Jones Indices.

“Consumer default rates have stabilized at levels similar to those seen before the financial crisis,” Blitzer continued. “The national composite is nearing a historic low while the auto loan reached a historic low in April.

“Neither the one-month uptick in consumer price inflation nor the Federal Reserve’s winding down of its bond buying threaten either consumer default rates or overall economic activity,” he added.

Blitzer also highlighted that the five largest U.S. cities the committee tracks for this monthly report saw default rate decreases for their second consecutive month.

Dallas posted a default rate of 0.83 percent, a new historic low.

New York experienced the largest downturn as the Big Apple’s rate came in at 1.19 percent in April, which was 18 basis points lower than March level.

New York also recorded the largest decrease year-over-year and the reading marked a 59 basis point drop last April’s level (1.78 percent).

“Miami continues to maintain the highest default rate while Dallas has the lowest,” Blitzer said. “All five cities — Chicago, Dallas, Los Angeles, Miami and New York — remain below default rates they posted a year ago.”

Jointly developed by S&P Indices and Experian, Blitzer reiterated the S&P/Experian Consumer Credit Default Indices are published monthly with the intent to accurately track the default experience of consumer balances in four key loan categories: auto, bankcard, first mortgage lien and second mortgage lien.

The indices are calculated based on data extracted from Experian’s consumer credit database. This database is populated with individual consumer loan and payment data submitted by lenders to Experian every month.

Experian’s base of data contributors includes leading banks and mortgage companies and covers approximately $11 trillion in outstanding loans sourced from 11,500 lenders.