AUTHOR: TOWNE SCHERER.COM/BLOG 4/3/2020: Towne Scherer Private Wealth Management BLOG:
Falling Mortgage Applications
Applications for a mortgage to purchase a home fell 11% last week and were 24% lower than last year, reports CNBC 4/1/2020. Location, location, location....and...the corona virus and the US economy shut down by the government!!!!
Massive Unemployment Report
The US Unemployment Report came in with a massive 6.64 million in lost jobs, according to Business Insider 4/2/2020. This is a doubling of last weeks number and is a quadrupling of the previous high with the two-week total at nearly 10 million. The speed and size is like nothing America has ever seen before.
4th Quarter Rebound Prediction
A big rebound in the markets is expected in the 4th quarter this year, says Maria Bartiromo, FOX Business Network's global markets editor, reports FOXNEWS 4/1/2020. She bases this prediction on clarity coming into the coronavirus pandemic, which, by association, suggests she believes this will happen in the near future. We shall see...
So…a light at the end of the tunnel…???
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The opinions expressed in this material do not necessarily reflect the views of LPL Financial and based on the political content of this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in this material may not develop as predicted. All indices are unmanaged and may not be invested into directly.
Russell E. Towne, LPL Financial Advisor, is a registered representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.