SCE CREDIT ACCESS SURVEY
June Survey: The application rate for any type of credit remained steady at 45 percent, up from a series low of 35 percent in October. Overall, credit applications were approved at a higher rate. The mortgage refinance application rate rose to a series high of 27 percent, continuing a steady increase since June 2019.
(posted July 19)
SURVEY OF CONSUMER EXPECTATIONS
June Survey: Short-term inflation expectations rose 0.8 percentage point in June to 4.8 percent, reaching a new series high. Year-ahead household income and spending growth expectations continued their recent upward trends.
(posted July 12)
Quarterly Report on Household Debt and Credit
Total household debt increased by 0.6 percent to reach $14.64 trillion in the first quarter of 2021. While mortgage, auto loan, and student loan balances continued to increase, credit card balances substantially decreased, consistent with both paydowns among borrowers and constrained consumption opportunities.
(posted May 12)
SCE PUBLIC POLICY SURVEY
April Survey: The latest survey of consumers’ public policy outlook shows persistently high post-election expectations regarding year-ahead tax changes and changes in welfare benefits. The average likelihood of an increase in the federal minimum wage rose to 50 percent in April from 45 percent in December.
(posted May 24)
SCE Household Spending Survey
April Survey: The median expected year-ahead growth in everyday essential spending increased to 4.7 percent in April from 4.1 percent in December 2020, marking a series high. The median expected growth in non-essential spending rose to 4.1 percent in April from 1.6 percent in December, by far the highest reading in this series.
(posted May 17)