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Coronavirus live updates: Russia plans phase three trials of world"s first approved vaccine, offers little safety data
8/11/2020 7:18 AM
The coronavirus has infected more than 20 million people around the world as of Tuesday, killing at least 736,200 people so far....(read more)
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New U.S. sanctions add uncertainty for global banks looking to tap China market
8/11/2020 7:04 AM
After decades of keeping the mainland financial market relatively closed to foreigners, the central Chinese government began to roll back restrictions on investment and ownership in the last two years....(read more)
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Here"s what happened to the stock market on Monday
8/10/2020 3:15 PM
Stocks tried to build on last week"s momentum even as lawmakers struggle to make inroads on a new coronavirus deal....(read more)
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The Fed bought more blue-chip and junk bonds, and has started making Main Street loans
8/10/2020 2:03 PM
The Federal Reserve in July bought up more bonds from bluechip companies including Microsoft and Coca-Cola, while it added to its positions in junk debt and made its biggest Main Street loan to a ski resort and casino in the Pocono Mountains....(read more)
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Consumers are less confident about housing, but searches for these topics are soaring
8/10/2020 2:03 PM
Consumer confidence in the housing market took a step back in July, after a strong recovery in May and June, but consumers are still very curious about all facets of the market. Google search trends show just what they"re most curious about....(read more)
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Mnuchin is open to more coronavirus stimulus talks: "We"re prepared to put more money on the table"
8/10/2020 2:03 PM
Mnuchin is open to more coronavirus stimulus talks: "We"re prepared to put more money on the table"<br/> more)
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Fannie and Freddie: REO inventory declined sharply in Q2, Down 35% Year-over-year
8/10/2020 12:36 PM
Note, from Fannie: "The decline in single-family REO properties in the first half of 2020 compared with the first half of 2019 was primarily due to the suspension of foreclosures and a reduction in REO acquisitions from serious delinquencies aged greater than 180 days. With instruction from FHFA, we have prohibited our servicers from completing for...Read More
Seattle Real Estate in July: Sales up 10% YoY, Inventory down 15% YoY
8/10/2020 12:06 PM
The Northwest Multiple Listing Service reported Opportunities abound for home buyers and sellers, but brokers say "don"t delay" Brokers added the largest monthly number of new listings during July since May 2019, but pent-up demand from homebuyers meant inventory remained tight, according to Northwest Multiple Listing Service (NWMLS) representative...Read More
Construction Hiring Continued in June
8/10/2020 11:41 AM
After an accelerated pace of layoffs in March and April, construction sector hiring roared back in May and continued at somewhat reduced pace in June, per data from the BLS Job Openings and Labor Turnover Survey (JOLTS). In May, the hiring rate increased to 9.7%, after a subdued 3.7% rate in April. This was the strongest rate of hiring in... Read M...Read More
Nonrevolving Debt Fuels June Consumer Credit
8/10/2020 10:38 AM
The Federal Reserve"s latest G.19 Consumer Credit Report shows trends in consumer credit, excluding loans secured by real estate, through June 2020. In June, consumer credit increased at a seasonally adjusted annual rate of 2.6% from the previous month, with revolving debt1 decreasing by 2.8% and nonrevolving debt2 increasing by 4.3 percent. Consum...Read More
Trump order gives 35 million student loan borrowers a break until 2021. What we know so far
8/10/2020 10:10 AM
President Donald Trump signed an executive order over the weekend that gave student loan borrowers another three months before they need to resume their payments. Here"s what we know so far about the relief....(read more)
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BLS: Job Openings increased to 5.9 Million in June
8/10/2020 9:26 AM
From the BLS: Job Openings and Labor Turnover Summary The number of job openings increased to 5.9 million on the last business day of June , the U.S. Bureau of Labor Statistics reported today. Hires decreased to 6.7 million in June, but was still the second highest level in the series history. The largest monthly increase in hires occurred in May 2...Read More
NMHC: Rent Payment Tracker Finds Decline in People Paying Rent in August
8/10/2020 8:26 AM
From the NMHC: NMHC Rent Payment Tracker Finds 79.3 Percent of Apartment Households Paid Rent as of August 6 The National Multifamily Housing Council (NMHC)"s Rent Payment Tracker found 79.3 percent of apartment households made a full or partial rent payment by August 6 in its survey of 11.4 million units of professionally managed apartment units a...Read More
Bidding Wars Hold Steady in July, With Over Half of Redfin Offers Encountering Competition
8/10/2020 8:10 AM
54% of Redfin offers faced bidding wars last month amid record-low mortgage rates and an acute shortage of homes for sale. The post Bidding Wars Hold Steady in July, With Over Half of Redfin Offers Encountering Competition appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More ....(Read More
Small business confidence rebounds from all-time low, but Main Street still has a long way to go
8/10/2020 7:05 AM
Small business confidence rose from an all-time low hit during coronavirus lockdowns, but on Main Street, the revenue, hiring and general business outlook remains mixed: CNBC|SurveyMonkey Q3 Small Business Survey....(read more)
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