RSM’s survey for its proprietary Middle Market Business Index for July suggested that the Main Street Lending Program could gain broader participation with targeted changes and greater clarity about the program. … READ MORE >
Coronavirus
FHA mortgage delinquencies show some homeowners in trouble
Federal Housing Administration mortgage delinquencies hit an all-time, four-decade high, according to data released on Monday, a sign that disadvantaged homebuyers are clearly struggling in the pandemic-impacted economy.
The share of FHA mortgage delinquencies rose to almost 16%, in the second quarter, the highest level since 1979, as reported by the Mortgage Bankers Association. The delinquency rate for conventional loans, by comparison, sits at 6.7%. … READ MORE >
Hotel occupancy data: It’s only half the story
At first glance, hotel occupancy rates have been looking favorable recently. But with many hotels closing as the coronavirus spreads, occupancy rates are not providing the full picture. That’s where a new measurement called total-room-inventory occupancy, or TRIO, comes in, and the picture isn’t so promising. … READ MORE >
Without adjustments, Main Street Lending Program is unlikely to be mainstream
Unlike the strong demand for the Paycheck Protection Program, which saw $350 billion in aid snatched up in the 13 days following its debut, interest in the Main Street Lending Program has been more muted; less than $100 million in aid was requested in the program’s first month, according to data from the Federal Reserve. … READ MORE >
The pandemic, health care access and the economy
The outbreak of the novel coronavirus has highlighted the massive inequality of access that continues to plague the richest country in the world. … READ MORE >
U.S. employment report: Recall of workers slows in July
The recall of workers to their jobs slowed in July as evidence of a much greater problem in the domestic labor force mounts. … READ MORE >
Is cash no longer king?
Cashless payments are rapidly becoming the norm as the spread of the coronavirus has forced consumers and businesses to change their ways. … READ MORE >
Initial jobless claims: Potential inflection point
Initial jobless claims for the month of July point to a potential inflection point in the American labor market. July’s data perfectly captured the flattening out of consumer demand and slowing of overall growth in the economy. … READ MORE >
US July employment report preview: Stagnation
We anticipate that there will be no increase in total employment for July following two strong months of worker recalls when the U.S. employment data is released on Friday. … READ MORE >
In anticipation of speedbumps (or roadblocks) to recovery
Even if a vaccine is developed, there is a question that looms over the economy and the chance for a full recovery: What if people refuse to take it? … READ MORE >