Finance Globe

U.S. financial and economic topics from several finance writers.

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Update on Home Sales and U.S. Mortgage Rates

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A few additional interesting statistics to watch during this pandemic, is U.S. home sales and the corresponding mortgage rates. Please let me know if anyone has recently purchased a home and if they are comfortable sharing, please share your rate as well.U.S. Home Sales:U.S home sales dropped to their lowest level in more than 9.5 years in May, which are caused by disruptions from the COVID-19 pandemic. Also, there was the smallest annual home price increase...
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Wanderer
Purchasing a home is a major undertaking. In today's world do you know you will have a job to pay the bills or stay geographically... Read More
Wednesday, 15 July 2020 06:24
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Personal Savings Rate for Americans

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On another positive note, I wanted to share how savings rates have recently changed during this pandemic. To quickly summarize, Americans are saving significantly more and spending less. In fact, Americans saved a record amount of their income in April, as the coronavirus pandemic caused businesses across the country to shut down and individuals were encouraged to stay in their homes.According to data released by the Bureau of Economic Analysis on Friday, the personal savings rate...
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How to Turn a Crisis into a Financial Fresh Start

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As you have read almost everyday, this financial crisis is creating havoc on a lot of individuals and businesses. However, I wanted to write a positive article on how you might be able to take advantage of this crisis with a fresh start. There may even be upside to the months spent at home. Below are a few steps for you to look into and you may be able to improve your financial position during this...
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Personal Finance Concerns During COVID-19

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While a lot of people thought we may be done with COVID-19, it seems to have come back and it might not being going away for awhile! Given the economic uncertainties, it is very important to keep a close eye on your personal finances and to continue to assess your current financial situation. Below are a few common areas for financial concerns that may have already come up or could come up in the near future.Missed...
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Wanderer
Good outline for the COVID19 times. Seems some people still believe this is just a flu. Now as the virus has had time to show it's... Read More
Wednesday, 15 July 2020 06:20
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Updates on the General Economy

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There is generally more and more positive news coming out for the economy which is a sign we have already hit a bottom.Many believe that rising coronavirus cases won’t overwhelm hospitals that are now better prepared than during the first wave, and that virtually no political will exists for the return to restrictive lockdowns that characterized March and April.Even the Federal Reserve chair, Jerome Powell, is expected to tell lawmakers that the U.S. economy is bouncing...
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June Stock Market Performance

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The stock performance in June has been very strong, which is a surprise to many. June is turning into a historic month for the markets, as the Dow experiences its best performance for the month since 1933Wall Street rallied Monday 6/29, with all three indexes jumping by over 1%, after new housing data showed a record monthly gain in pending home sales and momentarily offsetting rising fears about new coronavirus cases that are jeopardizing an economic...
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COVID-19 and Your Small Business: How to Best Serve Your Clients

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There is no denying the fact that the COVID-19 pandemic has taken the business world by storm. As a small business owner, it’s safe to assume that you have concerns about the here and now, as well as what the future will bring.When it comes to COVID-19 and your small business, there’s nothing more important than your clients. Even if you’re going through a rough patch, there are steps you can take to ensure that your...
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May Unemployment Numbers

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May unemployment numbers are again bad news and we are still seeing the impact from the coronavirus. 2.123 million Americans filed for unemployment benefits in the week ending May 23, exceeding economists’ expectations for 2.1 million initial jobless claims. The prior week’s figure was revised higher to 2.446 million from 2.438 million jobless claims. Over the past 10 weeks, more than 40 million Americans have filed for unemployment insurance. In the week ending May 23, California...
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Scams That are Targeting your Coronavirus Stimulus Checks

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Any time there is funding from the government, there is going to be scams out there to try to defraud you. Now scammers are going after your coronavirus stimulus checks. Many of you received a check, but if you were not aware, the federal government, has issued a one-time payment to tens of millions of Americans to provide financial relief amid this pandemic. The scams are focusing on college students and nursing home residents. The scams...
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Near Term Outlook On the Economy

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Many are hopeful and predicting the economy is going to come back in the summer. However, based on the data to date, that has not happened. The Federal Reserve recently said that U.S. businesses saw limited evidence of a recovery in recent weeks, with economic activity continuing to decline amid the coronavirus pandemic. The labor market continued to deteriorate and consumer spending fell further as retailers and restaurants remained largely closed in most of the country...
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