Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
# of Questions
Select a Date
Use the calendar to view news headlines from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name: Michigan
State Name underscore: Michigan
State Name dash: Michigan
State Name lower underscore: michigan
State Name lower dash: michigan
State Name lower: michigan
State Abbreviation: MI
State Abbreviation Lower: mi
Suggest a Story
Paste the URL of the story below to submit for editorial review and possible inclusion in ATW.
Please add 6 and 7 and type the answer here:
Leave this field blank.
What is Around the Web?
It is a continuously updated stream of news from around the web
Visit throughout the day for the latest breaking news.
» Click any link below to read more.
  • Thu, Mar 26 2020
  • 6:55 PM » New York, New Orleans hospitals reel as U.S. leads world in coronavirus cases
    Published Thu, Mar 26 2020 6:55 PM by Reuters
    The United States on Thursday surpassed China and Italy as the country with the most coronavirus cases, according to a Reuters tally, as New York, New Orleans and other hot spots faced a surge in hospitalizations and looming shortages in supplies, staff and sick beds.
  • 6:55 PM » Fed balance sheet tops $5 trillion for first time as it enters coronavirus war mode
    Published Thu, Mar 26 2020 6:55 PM by Reuters
    The U.S. Federal Reserve's balance sheet rocketed past $5 trillion in assets for the first time this week as it scooped up bonds and extended loans to banks, mutual funds and other central banks in its unprecedented effort to backstop the economy in the face of the global coronavirus pandemic.
  • 6:55 PM » Exclusive: Retailers start to cancel vendor orders following coronavirus hit
    Published Thu, Mar 26 2020 6:55 PM by Reuters
    After closing stores around the world to curb the spread of the coronavirus, retailers are now telling some vendors to immediately cancel orders.
  • 6:55 PM » Dow wraps up strongest three days since 1931
    Published Thu, Mar 26 2020 6:55 PM by Reuters
    The Dow Jones Industrial Average wrapped up its strongest three days in nine decades on Thursday as record weekly U.S. jobless claims came in below investors' worst fears and the focus stayed on an unprecedented $2 trillion stimulus awaiting approval by the U.S. House of Representatives.
  • 6:54 PM » U.S. House leaders plan to pass $2.2 trillion coronavirus bill Friday
    Published Thu, Mar 26 2020 6:54 PM by Reuters
    U.S. House Speaker Nancy Pelosi said she expected the chamber to pass an estimated $2.2 trillion coronavirus relief bill when it meets on Friday, after the Senate overwhelmingly approved the unprecedented economic rescue legislation on Wednesday evening.
  • 4:32 PM » G20 leaders to inject $5 trillion into global economy to fight coronavirus
    Published Thu, Mar 26 2020 4:32 PM by Reuters
    Leaders of the Group of 20 major economies pledged on Thursday to inject $5 trillion in fiscal spending into the global economy to blunt the economic impact of the coronavirus and "do whatever it takes to overcome the pandemic."
  • 4:29 PM » Trump plan calls for classifying coronavirus risk county by county
    Published Thu, Mar 26 2020 4:29 PM by CNBC
    Trump wants some parts of the country to return to normal daily life, but experts say the only safe strategy is one that applies to the entire nation.
  • 2:26 PM » Exclusive: Coronavirus crisis could destroy far more than 25 million jobs - ILO official
    Published Thu, Mar 26 2020 2:26 PM by Reuters
    The number of jobs lost around the world due to the coronavirus crisis could be "far higher" than the 25 million the International Labour Organization (ILO) estimated just a week ago, a senior ILO official said on Thursday.
  • 2:25 PM » Federal Reserve gives small banks more time to file March financial statements
    Published Thu, Mar 26 2020 2:25 PM by Reuters
    The Federal Reserve announced Thursday it was giving small U.S. banks another month to file financial statements due at the end of March.
  • 2:22 PM » Weekly mortgage applications tank 29% as coronavirus sidelines homebuyers
    Published Thu, Mar 26 2020 2:22 PM by CNBC
    A hike in interest rates, combined with a massive shutdown of the economy caused homeowners and potential homebuyers to back away from the mortgage market.
  • 2:21 PM » Coronavirus: Fauci says US 'can start thinking about' getting back to normal when pandemic curve falls
    Published Thu, Mar 26 2020 2:21 PM by CNBC
    President Donald Trump has said he wants to see the U.S. get back to social and economic normalcy sooner rather than later even as coronavirus spreads.
  • 2:21 PM » Worldwide coronavirus cases top 500,000, doubling in just over a week
    Published Thu, Mar 26 2020 2:21 PM by CNBC
    The virus has infected an additional 100,000 people around the world since Tuesday.
  • 11:54 AM » Coronavirus fallout: Treasury chief Mnuchin says record unemployment claims 'aren't relevant' right now
    Published Thu, Mar 26 2020 11:54 AM by CNBC
    Treasury Secretary Steven Mnuchin said record-setting unemployment filing numbers as the coronavirus pandemic grows "right now aren't relevant."
  • 11:32 AM » Hotels: Occupancy Rate Declined 56% Year-over-year to All Time Record Low
    Published Thu, Mar 26 2020 11:32 AM by Calculated Risk Blog
    From STR: US hotel results for week ending 21 March Showing further effects of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 15-21 March 2020, according to data from STR. In comparison with the week of 17-23 March 2019, the industry recorded the following: • Occupancy: -56.4% to 30.3% • Average daily rate (ADR): -30.2% to US$93.41 • Revenue per available room (RevPAR): -69.5% to US$28.32 "RevPAR decreases are at unprecedented levels-worse than those seen during 9/11 and the financial crisis," said Jan Freitag, STR's senior VP of lodging insights. "Seven of 10 rooms were empty around the country. That average is staggering on its own, but it's tougher to process when you consider that occupancy will likely fall further. With most events cancelled around the nation, group occupancy was down to one percent with a year-over-year RevPAR decline of 96.6% . The industry is no doubt facing a situation that will take a concerted effort by brands, owners and the government to overcome." emphasis added The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average . Click on graph for larger image. The red line is for 2020, dash light blue is 2019, blue is the median, and black is for 2009 (the worst year probably since the Great Depression for hotels). 2020 was off to a solid start, however, COVID-19 has crushed hotel occupancy. This is the lowest weekly occupancy on record, even considering seasonality, and STR expects occupancy rates to fall further.  Note the graph is a 4-week average.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:32 AM » Fed's Powell says virus to dictate when U.S. economy reopens
    Published Thu, Mar 26 2020 11:32 AM by Reuters
    U.S. Federal Reserve Chair Jerome Powell told Americans on Thursday progress in controlling the spread of the coronavirus would determine when the economy reopens but assured them the Fed was taking every action to support a vigorous rebound when it comes.
  • 11:08 AM » Kansas City Fed: "Tenth District Manufacturing Activity Declined Sharply" in March
    Published Thu, Mar 26 2020 11:08 AM by Calculated Risk Blog
    From the Kansas City Fed: Tenth District Manufacturing Activity Declined Sharply The Federal Reserve Bank of Kansas City released the March Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity declined sharply from a month ago, and expectations for future activity fell to levels last seen in early 2009. "Regional factory activity contracted sharply in March as firms were negatively impacted by COVID-19," said Wilkerson. "Many firms indicated overall demand and sales have slowed dramatically, with capital investments being put on hold. Around 60 percent of manufacturers faced delayed payments from customers and 54 percent had concerns about cash availability." ... The month-over-month composite index was -17 in March, the lowest composite reading since April 2009 , and down considerably from 5 in February and -1 in January. The composite index is an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes. emphasis added The last of the regional surveys for March will be released on Monday (Dallas Fed), and I expect the Texas region will be hit hard.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:54 AM » Senate sends House $2 trillion coronavirus bill; vote expected Friday
    Published Thu, Mar 26 2020 10:54 AM by Reuters
    The U.S. Senate's unanimous passage of an estimated $2.2 trillion coronavirus relief bill sent the unprecedented economic rescue legislation to the House of Representatives, whose leaders hope to pass it on Friday.
  • 10:30 AM » U.S. coronavirus death toll tops 1,000 as unemployment widens
    Published Thu, Mar 26 2020 10:30 AM by Reuters
    The U.S. coronavirus death toll topped the 1,000 milestone as the pandemic's mounting economic burden was illustrated by government data on Thursday showing a record number of Americans seeking unemployment benefits and hospitals struggled to treat a surge of infected patients.
  • 9:35 AM » Coronavirus stimulus checks will come within three weeks, Mnuchin says
    Published Thu, Mar 26 2020 9:35 AM by CNBC
    Coronavirus stimulus checks will come within three weeks, Mnuchin says<br/>
  • 9:09 AM » Third Estimate Q4 GDP: Remains at 2.1% Annual Rate
    Published Thu, Mar 26 2020 9:09 AM by Calculated Risk Blog
    From the BEA: Gross Domestic Product, Fourth Quarter and Year 2019 (Third Estimate); Corporate Profits, Fourth Quarter and Year 2019 Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the fourth quarter of 2019 , according to the "third" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP also increased 2.1 percent. The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was also 2.1 percent. In the third estimate, an upward revision to personal consumption expenditures (PCE) was largely offset by downward revisions to federal government spending and nonresidential fixed investment. emphasis added PCE growth was revised up to 1.8% from 1.7% in the second estimate. Residential investment was revised up to 6.5% from 6.2%. Here is a Comparison of Third and Second Estimates .
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:36 AM » US weekly jobless claims soar to a record-breaking 3.28 million, vs 1.5 million expected
    Published Thu, Mar 26 2020 8:36 AM by CNBC
    New claims for unemployment compensation were expected to hit a record-breaking 1.5 million for the week ended March 21, according to economists surveyed by Dow Jones.
  • 8:04 AM » Jerome Powell's message to Americans: 'The Federal Reserve is working hard to support you'
    Published Thu, Mar 26 2020 8:04 AM by CNBC
    Federal Reserve Chairman Jerome Powell told Americans on Thursday the central bank is working hard to support them during these unprecedented financial conditions.
  • 8:03 AM » BlackRock's Rieder says bond market volatility has peaked and stocks may have hit bottom
    Published Thu, Mar 26 2020 8:03 AM by CNBC
    BlackRock's Rick Rieder says bond market volatility appears to have peaked and he doesn't think the S&P 500 will fall below 2,300.
Did you know?
You can see a list of all comments on MND by clicking the 'Read the Latest Comments' option under the 'Community' menu.

More From MND

Mortgage Rates:
  • 30 Yr FRM 3.50%
  • |
  • 15 Yr FRM 3.50%
  • |
  • Jumbo 30 Year Fixed 4.50%
MBS Prices:
  • 30YR FNMA 4.5 107-12 (-0-06)
  • |
  • 30YR FNMA 5.0 107-30 (0-22)
  • |
  • 30YR FNMA 5.5 109-02 (-0-17)
Recent Housing Data:
  • Mortgage Apps 15.13%
  • |
  • Refinance Index 25.99%
  • |
  • Purchase Index -2.67%