Published: July 22, 2020 at 5:08 p.m. ET By: Keith Jurow Back in January, my column for Marketwatch detailed the massive danger that jumbo mortgages posed for U.S. mortgage and housing markets. After months of actions to counter the impact of COVID 19, the potential jumbo mortgage disaster is clearer than ever. Jumbo mortgages are loans that areContinue reading “The feared jumbo mortgage debacle is here — thanks to the coronavirus — and ready to pound the housing market”
Daily Archives: July 23, 2020
As the economic fallout of the pandemic continues to unfold, banks are rushing to close credit card accounts or slash credit limits to curb their risk.
“These are really big numbers,” said Matt Schulz, chief industry analyst at CompareCards. “It means that an awful lot of Americans had one of their financial security nets taken out from under them in one of the most difficult economic times in American history.” 1 in 5 cardholders saw a credit decrease of at leastContinue reading “As the economic fallout of the pandemic continues to unfold, banks are rushing to close credit card accounts or slash credit limits to curb their risk.”