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Summary List Placement Texas is joining at least 19 other GOP-led states in ending its participation in federal unemployment benefits early. On Monday, Gov. Greg Abbott told the Labor Department that the state was withdrawing from “further federal unemployment compensation related to the COVID-19 pandemic” effective June 26, which includes an additional $300 in weekly […]

Historically low mortgage rates had their moment in the sun in 2020. They rested far below 3% for months before America’s economic rebound pushed them back up in the winter of 2021. But data released on Thursday data from Freddie Mac showed that mortgage rates idled below 3% again for an entire month, even with […]

Summary List Placement BlackRock’s global fixed income chief investment officer, Rick Rieder, says the Fed should start tapering asset purchases “sooner rather than later.” In an interview with Bloomberg on Monday, Rieder said he believes the Fed has done “an incredible job” rescuing the American economy amidst a global pandemic but thinks it’s “time to […]

Summary List Placement In January, the Centers for Disease Control and Prevention (CDC) extended the eviction moratorium through June 30 to protect tenants who cannot keep up with rent payments during the pandemic. But an increasing number of courts are ruling the ban unconstitutional, and as the Biden administration works to keep them in place, […]

Summary List Placement Rent prices tumbled at the start of the pandemic and are only just now on the rise. But where inflation in other pockets of the economy is expected to cool off, rent might just keep climbing. The Federal Reserve, Biden administration officials, and much of Wall Street see elevated overall inflation eventually […]

With the economic expansion well underway, one big question remains: When will mortgage rates move toward 4% and higher? Mortgage rates increased toward 3.25% in mid-February from the recent all-time lows of 2.625% at the start of the year, but then retracted to around 3.0% currently. The bond market in 2021 has been above 1.60% for […]

Summary List Placement With the pandemic-era ability to work from home, the desire for homeownership has been on the rise this past year, with a housing inventory crisis developing as a result. But the Indianapolis Star reported last week that Black homeowners who want to put their houses on the market or seek lower mortgage […]

One of the great questions facing the housing markets in 2021 is what will happen when the mortgage forbearance programs under the CARES Act expire. When this act was originally passed on March 27, 2020, there were notable concerns that these measures would merely postpone an inevitable correction in the housing market once the programs […]

Summary List Placement President Joe Biden faces a steep uphill battle to pass his infrastructure bill. Republicans have balked at its $2.3 trillion price tag, and moderate Democrats aren’t entirely sold on its necessity. The president has held bipartisan meetings to iron out disagreements, but Democrats’ soft deadline of a July 4-passage remains ambitious. Morgan […]

Summary List Placement The Biden administration announced Monday it is kickstarting the first advanced payments of the child tax credit on July 15. Democrats have touted it as a key part of President Joe Biden’s stimulus law and it’s poised to benefit the vast majority of American children. The Treasury Department and IRS announced they […]

On May 13, FHFA Director Mark Calabria wrote an op-ed published in the Wall Street Journal defending the final “living wills” rule published in the Federal Register on May 4. The key to this op-ed is understanding what was left out. His clear disdain for the structure of the GSEs as well as their ability […]

Summary List Placement Modern Monetary Theory economists are the trailblazing left-wingers in the field. Nobel laureate Paul Krugman says he’s farther left than them. Both schools are inspired by the great 2oth-century English economist John Maynard Keynes, whose theory of fiscal stimulus influenced not only FDR’s response to the Great Depression of the 1930s, but […]

Summary List Placement The Biden administration is funneling more than $2 billion toward the care of migrant children by and along the southern border, Politico reported. That money had originally been earmarked to go toward various measures to fight the coronavirus pandemic, according to Politico. The Department of Health and Human Services said $850 million […]

Summary List Placement When you trim away all the complications and high-minded theories, the single mission statement of an economy under capitalism is to grow. We say an economy is healthy when it’s adding jobs, productivity, and profits, and we say an economy is sick when it’s contracting, losing jobs, and failing to hit profitability […]

Summary List Placement Florida has been one of the few states to see real economic progress during the pandemic. Both businesses and companies have flocked to the US’ third-largest state over the past year because of its pro-business environment, including a lack of personal-income tax, alongside its sunny climate that made it an alluring place […]

The number of properties with foreclosure filings hit 11,810 in April, down 1% month over month and 17% year over year, according to a recent study from RealtyTrac and ATTOM Data Solutions. May marks the 14th month of the federal government’s foreclosure and eviction moratorium. States with the highest April foreclosure rates were Delaware (one […]

Summary List Placement Nearly every day this week, President Joe Biden met with different groups of influential lawmakers to attempt to reach some form of bipartisan agreement on infrastructure. One of those meetings included the group of Republicans that introduced a $568 billion counter-proposal to the president’s $4 trillion plan. The White House said on […]

Summary List Placement The coronavirus outbreak in the US appears to be abating, with the government ramping up its vaccine capability, rolling back mask-wearing mandates, and lifting restrictions. But while the country is poised to return to normal, some Americans are not ready to return to the workforce. The US economy has made dramatic gains […]

Summary List Placement President Joe Biden’s new task force on strengthening unions and their participants officially kicked off on Thursday. In her opening remarks, Vice President Kamala Harris, who is chairing the task force, emphasized the impact declining union membership has had on American workers. Because of the decline in union membership, “American workers are […]

Secretary of Housing and Urban Development Marcia Fudge delivers remarks during a press briefing at the White House in Washington, U.S., March 18, 2021. REUTERS/Carlos Barria First, let’s set the record straight. Homeownership is critical to wealth creation, especially for establishing intergenerational wealth in America. When looking at net worth, even considering the fact that […]

Summary List Placement One day, when the pandemic is long over, people will be free to reminisce about March 2020 and its empty toilet paper shelves, impossible-to-find flour, and out-of-control lumber prices. It was in that month that people started understanding just how global and intertwined supply chains had become and that when links break — in […]

Summary List Placement Michael Burry predicted post-reopening inflation back in April 2020. “The Big Short” investor warned prices could surge earlier this year too. Burry trumpeted the value of profitable companies during inflationary periods. See more stories on Insider’s business page. Michael Burry warned the post-pandemic reopening could cause inflation to spike as early as […]

Summary List Placement Education Secretary Miguel Cardona issued guidance in March allowing colleges and universities to use funds from President Joe Biden’s $1.9 trillion stimulus plan for a variety of student needs, including grants and scholarships. Delaware State University (DSU) has decided to use those funds to cancel student debt. On Wednesday, DSU officials announced […]

Mat Ishbia isn’t sweating a projected drop in gain-on-sale margins, all the way down to 75 to 110 basis points. Quite the contrary. In his estimation, a higher rate environment and hyper-competitive pricing will provide United Wholesale Mortgage an opening salvo to win a war of attrition and build an even bigger army of loyal […]

Summary List Placement Americans’ spending at retailers rose to a fresh record high last month as the stimulus bump faded and the country reopened further, although they did not rise as much as economists expected. Retail sales in the US were virtually unchanged in April, the Census Bureau announced Thursday. The median estimate from economists […]

Summary List Placement Sen. Bernie Sanders urged the Biden administration on Thursday to prevent the loss of jobless benefits for unemployed Americans in the 14 GOP-led states that are on the verge of ending their participation in federal unemployment benefits next month. Governors in red states such as Georgia, Montana, and South Carolina have cited […]

Summary List Placement After last Friday’s weak jobs report, over a dozen GOP-led states have announced that they’ll be pulling out of federal unemployment benefits, with governors saying they want to urge workers to get back to work.  “Federal pandemic-related unemployment benefit programs initially provided displaced Iowans with crucial assistance when the pandemic began,” Iowa […]

Summary List Placement This week, President Joe Biden has been entrenched in bipartisan infrastructure talks, from meeting with the most powerful congressional leaders to a group of Republicans pushing a smaller infrastructure plan. But progressive leaders are worried these talks are slowing down urgent efforts to repair the economy and the climate. On Wednesday, John […]

Summary List Placement While the idea of a universal basic income (UBI) dates back hundreds of years, providing recurring aid to Americans is growing in popularity today, especially given the financial toll the pandemic has taken on the country. And Los Angeles County might become the next part of America to turn the UBI idea […]

The average 30-year fixed rate mortgage managed another dip last week, falling two basis points to 2.94%, according to Freddie Mac‘s PMMS. Since the most recent peak in April, mortgage rates have declined nearly a quarter of a percent and have remained under 3% for the past month. Despites last week’s rates mirroring closer to what was […]

Summary List Placement As restaurants struggle to find workers, one expert says Amazon is partly to blame. Amazon has long been a disruptive force in the US market. In 2016, Amazon was blamed for killing off malls and retail chains like Borders and Circuit City through its low online prices. Now, the company may be […]

Summary List Placement There’s always a reason things are about to get worse. Throughout the pandemic, pessimistic forecasters have doubted the pace of the US economy’s recovery. And now that the consensus has largely caught on to the US economic boom, there’s a new story for the worrywarts: “peak-data.”  The idea with “peak data” is […]