P2P lending rates are low because all rates are low right now. Junk Bond rates are at about 6%, which is right about where P2P lending rates are right now (I'v

P2P lending rates are low because all rates are low right now. Junk Bond rates are at about 6%, which is right about where P2P lending rates are right now (I've gotten a 5.5% rate over the last few years from P2P lending). The question will be, when the market turns, and junk default rates shoot up to 10+%, what will P2P default rates be? Higher? Lower? About the same?