Initial claims for unemployment benefits jumped for the second consecutive week, raising concerns about the sustainability of the current economy and raising alarms with unemployment benefits set to expire.
Tag: Wells Fargo Securities
Fed Stays the Course: Monetary Policy ‘Quite Supportive for Housing, Mortgage Markets’
With the economy still suffering and a sharp uptick in coronavirus cases nationwide, the Federal Open Market Committee was widely expected to hold the line during its two-day policy meeting that ended yesterday. And it did.
CRE Fundamentals Struggle to Find Secure Footing
Challenging times for CRE fundamentals are likely to extend into 2021, but there is light at the end of the tunnel, said Wells Fargo Securities, Charlotte, N.C.
MBA: 3Q Commercial/Multifamily Mortgage Debt Up 1.5%
Commercial/multifamily mortgage debt outstanding rose by $57.0 billion (1.5 percent) in the third quarter, the Mortgage Bankers Association reported this morning.
Dealmaker: Blackstone Real Estate To Acquire $3.4B Lab Office Portfolio
Blackstone Property Partners Life Sciences, New York, agreed to acquire a 2.3 million square foot portfolio of lab office buildings from a Brookfield Asset Management real estate fund for $3.45 billion.
Initial Claims Keep Moving in Wrong Direction
Initial claims for unemployment insurance rose for the third time in five weeks amid signs the economy is stalling, the Labor Department reported yesterday.
Job Growth Slows Heading into Uncertain Winter
Total nonfarm payroll employment growth slowed to 245,000 in November, the Bureau of Labor Statistics reported Friday, with nearly 10 million fewer jobs currently compared to a year ago.
Jobless Claims Drop, Remain Elevated
Initial claims fell in the week ending Nov. 28, the Labor Department reported yesterday, but remain elevated in the wake of the coronavirus pandemic and resulting economic slowdown.
New Home Sales Fall for 1st Time in 6 Months–But No Worries
New home sales fell for the first time since May, HUD and the Census Bureau reported Wednesday. Even so, the news continued to be good.
COVID Fatigue Takes Toll on Consumer Confidence
The Conference Board, New York, said its Consumer Confidence Index fell again in November amid a sharp spike in coronavirus cases nationwide.