Consumer sentiment for home buying stayed near its record high behind low mortgage rates and a strong job market, though the declining stock markets and COVID-19 concerns may change that soon, according to Fannie Mae.
Concerns about the economic fallout of coronavirus have mostly focused on supply chain disruptions. But fears are growing that weakening consumer demand could spark a recession.
State and federal officials committed to providing “appropriate regulatory assistance” to banks whose customers may be hurt by the coronavirus outbreak and said prudent measures would not be subject to criticism by examiners.
As COVID-19 wreaks havoc on global markets, munis try to keep pace.
Sen. Mark Warner led a group of Democratic senators in calling on bank, credit union and GSE regulators to give detailed instructions on helping consumer and commercial borrowers hurt by the COVID-19 outbreak.
The employee “is at home while their health is being closely monitored by their doctor and public health authorities,” a spokeswoman for the bank said.
In budget talks, House Speaker José Oliva says lawmakers will discuss how to prepare for a recession that may result from the economic impacts of COVID-19.
There is quite a bit of data indicating planners timed the markets poorly during the financial crisis. Let's not make the same mistakes again.
Richard Li, a pubic debt specialist for the city of Milwaukee, compared disclosing COVID-19 to disclosing a hurricane hitting localities on the Atlantic coast.
The outbreak and a free fall of oil and stock prices are rattling bankers at this year's ICBA gathering in Orlando, Fla.