budget

May 19, 2020

Serious Mortgage Defaults will Surge in 2021

After over two years of falling delinquency rates, the burgeoning unemployment following the coronavirus shutdown will bring a surge of outstanding mortgages, according to CoreLogic’s Loan […]
May 19, 2020

Credit Card Spending Down 40%

Spending on JPMorgan Chase & Co. credit cards plunged 40% for the average U.S. family at the start of the coronavirus slowdown, an “enormous” drop that […]
May 19, 2020

Bankers Expect Recession Into 2021

Even as states begin to lift stay-at-home orders in hopes of jump-starting their sagging economies, many banking executives are bracing for a prolonged slowdown that could […]
April 9, 2020

Shutdowns Have Wiped Out 29% of U.S. Economy

More than a quarter of the U.S. economy has ground to a halt in recent weeks as the coronavirus pandemic shutters nonessential businesses and generates millions of […]
April 6, 2020

Consumer Expectations Deteriorate in March

Americans increasingly were worried about losing their jobs and expected to curb their growth in spending in the wake of the coronavirus outbreak, a March survey […]
April 6, 2020

Visa Sees Sharp Decline in Consumer Spending – Even Online

Visa once again lowered its outlook for revenue growth in the fiscal second quarter, saying the coronavirus pandemic has led to a sharp decline in cardholders’ […]
March 16, 2020

Commercial/Multifamily Delinquencies Low Despite Mounting Fears

According to the Mortgage Bankers Association, any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won’t be known for some time.  If it […]
March 13, 2020

Banks Ready Disaster Plan in Wake of Coronavirus

Large US banks have begun testing crisis measures in case of a broader coronavirus outbreak that prevents staff from going to work, according to banking sources.  […]
March 12, 2020

Zombie Foreclosures Grow in First Quarter

According to Attom Data Solutions’ Q1 2020 Vacant Property and Zombie Foreclosure Report, over 1.52 million U.S. single-family homes and condos are vacant, representing 1.5% of […]