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: