President Barack Obama is on the verge of creating as much as $300bn in credit for small businesses as bankers raise doubt about whether there’s demand for new loans and how much will be repaid. The US Senate may vote this week on a bill to funnel $30bn of capital to community banks, whose business customers typically are small firms.
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While the real estate market has lots of challenges during the COVID-19 pandemic, a tsunami of houses being sold by Airbnb hosts who can’t pay their mortgages isn’t one of them. HW+ Premium Content
This week, the “V-shaped” recovery in purchase applications is mimicked by the inverted “V-shaped” recovery of the St. Louis Stress Index. According to HousingWire Columnist Logan Mohtashami, this signals a return to a much more calm financial market.