Stimulus Checks Are Still Boosting First-Time Homebuyers’ Down Payments | Personal Finance

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Stimulus checks have helped boost Americans’ savings

In a statement accompanying the survey, Redfin chief economist Daryl Fairweather said that despite the economic upheaval of the early days of the pandemic, “many Americans, especially those in a position to buy a home , are now in a better financial position. than before.” That’s partly because “stimulus payments have provided many Americans with not only much-needed relief, but also extra cash in their pockets,” she added.

Since the start of the coronavirus pandemic, the federal government has approved three separate rounds of stimulus payments of up to $1,200, $600 and $1,400. Additional aid funds have also been sent to parents in the form of advance payments of a significantly expanded child tax credit.

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