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March Consumer Credit Trends Report

Following are some key points from last week's webinar by Experian:

American Rescue Plan Act

  • $1,400 stimulus checks for individuals earning up to $75,000, $150,000 for couples. Phases out at $80,000 and $160,000.

  • Extends unemployment programs through Sept. 6, 2021. Includes expanded programs that cover gig and self-employed workers (PUA) and for those that have exhausted regular state benefits (PEUC).

  • Keeps additional $300 boost to unemployment benefits. $15 minimum wage did NOT make the cut.

Other key highlights and trends discussed in the attached monthly credit report by Experian:

  • Page 8 covers the labor markets by industry: Jump in leisure and hospitality may signal turning point

  • Page 12 details the delinquency y/o/y and m/o/m trends by product/asset type.

  • Page 16 details income/savings trends. Higher incomes and lower spending fuel boom in savings.

  • Mortgage rates above 3% for the first time since July

  • Housing starts and permits slow due to rising costs.

  • Page 25 details auto trends. Spending on autos dips after post stimulus surge.

  • Semiconductor shortage and weather slow auto production.

  • Big jump in used car and truck prices.

For the full report, please see below:

Download PDF • 760KB

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