32 states had received federal approval to offer an extra $300 a week in unemployment benefits as of 12 noon ET on Wednesday. About 5.5 million workers are currently receiving unemployment insurance or Pandemic Unemployment Assistance in the states that...
A new refinancing fee previously set to go into effect in September will be delayed, a window of opportunity for many homeowners who want to take advantage of mortgage rates near historic lows. The new 0.5% mortgage refinance fee won’t...
With back-to-school season right around the corner, many parents are contemplating whether to send their children back to school or keep them at home due to the health risks of the coronavirus pandemic. And for parents who choose to keep...
Home sales soared in July, continuing a stunning rebound buoyed in part by buyers seeking a more comfortable home in the midst of the coronavirus pandemic. Home sales jumped 24.7% from the month before, according to the National Association of...
With mortgage rates still at historic lows, it may seem like a good time to refinance. Starting September 1, however, the cost of refinancing a mortgage is going up due to economic risks associated with Covid-19. Both Freddie Mac and...
Average retirement savings account balances rose in the second quarter despite pandemic fears, according to Fidelity Investments. The increase in retirement nest eggs — mainly in 401(k) accounts and IRAs — occurred due to gains by the stock market and...
Treasury announces quarterly refunding of longer-term debt Nominal coupon issuance to climb $132 billion over quarter The U.S. government will push its fundraising to new extremes this quarter to cope with a budget deficit unseen since the country mobilized to...
A broad measure of layoffs likely continued to hover just below 1.5 million last week, economists say, highlighting a labor market recovery that has lost steam as many states pause or reverse reopenings amid COVID-19 spikes. Economists surveyed by Bloomberg...
Mortgage applications to purchase a home were 2% lower last week than the previous week but a strong 21% higher annually. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances remained unchanged at 3.20%. However, the...
As the economic fallout from the coronavirus pandemic continues, almost one-third of U.S. households, 32%, have not made their full housing payments for July yet, according to a survey by Apartment List, an online rental platform. About 19% of Americans...
A correction is defined as a 10% or more decline in the price of an asset or index. The IMF estimated earlier this week that the global economy would contract by 4.9% this year, before growing at a pace of...
In a company in the midst of coronavirus-caused bankruptcy, where stockholders are likely to be wiped out, there are weird signs of life—worthless stock ticking up, an equity offering. But betting on an undead company is a very bad idea....
Disney World and Disneyland may be shut down, but the unpredictable and sassy ride that PPP borrowers, banks and CPA’s are going through under this well-intentioned, but somewhat unorganized, program continues. Here are the curves and surprises baked into the...
Hertz, Whiting Petroleum, Chesapeake Energy shares surge Number of Robinhood users holding these stocks also swells Just in the last week, 96,000 people on the Robinhood investing app opened a position in Hertz Global Holdings Inc. The number of users...
Billionaire bond investor Jeffrey Gundlach, the CEO of $135 billion DoubleLine Capital, sees the potential for a "wave of more higher-end unemployment' hitting white-collar workers making more than $100,000 per year as employers increasingly question the value these employees bring....
