UBS: Sub-Prime Consumers’ Risk Of Default Rises 44%

The number of low-income or sub-prime consumers  who are likely to default on their debt rose significantly during the second quarter according to UBS’s quarterly Evidence Lab credit survey. The Housing Intentions survey questioned a broad selection of US consumers at the end of Q2 and found that overall, the number of consumers in the lower wage bracket (<$40,000) who believe they are now at risk of defaulting on their debt within the next year has risen by 44%. Sub-Prime Consumers’ Risk Of Default Soars Results from the survey show that consumers falling into this low-income cohort cited a rise…