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May 28, 2026
UMI rose to 1.46 in April, within the range observed since May 2025 and below the elevated levels observed in early 2024.
While UMI is derived from Upstart-powered unsecured personal loans, broader macroeconomic trends can help contextualize recent movements in the index. The personal savings rate fell to 2.6% in April, the lowest level in nearly four years, as consumer spending (+0.5%) outpaced a slight decline in disposable personal income (-0.1%). This was largely driven by higher spending consistent with headline inflation data for April. The unemployment rate was 4.3% in April, flat from March.
Revisions to UMI are posted weekly. Since our last monthly data release on April 30, 2026, UMI has been revised as follows:
LEGAL DISCLAIMER
The statements and information on this site are current as of June 9, 2026, unless another date with respect to any information is indicated, and are provided for informational purposes only. Past UMI performance can provide no assurance and is not indicative of future UMI results. UMI is based on historical data and Upstart’s analysis of the losses within Upstart-powered loan portfolios and is specific to Upstart’s borrower base. UMI is not intended to measure the macroeconomic risks in terms of losses of loan portfolios or asset classes that are not Upstart-powered loans, including loans held by other segments of the U.S. population. It is not designed to measure the current state of the overall economy or to measure or predict future macroeconomic conditions, trends or risks. It is also not designed to measure or predict the future performance of Upstart-powered loans or of Upstart’s other products, overall financial results of operations or stock price. We expect that our research and development efforts to improve UMI could result in changes or revisions to current or past UMI values.
All forward-looking statements or information on this site are subject to risks and uncertainties that may cause actual results to differ materially from those that Upstart expected. Any forward-looking statements or information on this site are only as of the date hereof. Upstart undertakes no obligation to update or revise any forward-looking statements or information on this site as a result of new information, future events or otherwise. More information about these risks and uncertainties is provided in Upstart’s public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting Upstart’s investor relations website at www.upstart.com or the SEC’s website at www.sec.gov.
For the Upstart Macro Index Terms of Use, go here.