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Auto loan debt delinquency grew to 2.33% this quarter. This is up from 1.61% in the first quarter of 2022.
Auto insurance rates are up 7% in Q1 2023. Carriers are not as concerned about obtaining new customers, causing premiums to rise.
Quarter 2 sees a YoY increase in consumer credit card debt and personal loan balances at 19.2% and 26.3%, respectively.
The average credit score is 701, slightly higher than 697 in March 2022.
36% of alternative social media users financially support their favorite platforms through subscriptions, donations, or merch.
Housing inflation trends down from 6.9% in March to 6.6% in April. This is a more gradual decrease from the previous months (around 8.3%).
Total U.S. unemployment rate is up by 0.3% to 3.7%.
Bureau of Labor Statistics
75% of Millennials and Gen Z consumers prioritize their financial future and are actively seeking resources to learn more about building credit.
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