Good morning! Today is Monday, August 31. France pulls back its school reopening plans after a spike in Covid cases. Coca Cola is cutting thousands of jobs in the wake of the pandemic.
And in mortgage and housing news …
CENTRAL BANK: If the Federal Reserve’s continuation of low interest rates cause inflation to rise, it will eat away at bond yields — and investors will demand higher interest on mortgages.
BORROWERS STRUGGLE: Improvements in the coronavirus mortgage bailout stall, as more borrowers struggle to make payments.
HOME PRICES: Even with interest rates at record lows, someone buying the typical home today will have a larger monthly mortgage payment than they would have if they bought a year ago.
MAIN STREET LENDING PROGRAM: A $50 million, taxpayer-backed loan to a casino owned by the lending bank’s chairman is raising questions about the federal government’s strategy of deputizing banks to write loans under its Main Street Lending Program.
BORROW LIKE BUFFETT: Why Warren Buffett would advise you to refinance your mortgage ASAP.
LAST LAPSE: With evictions looming, will rent assistance arrive in time, and will it be enough?
SELLERS MARKET: Pre-listing renovations deliver big benefits when inventory is at an all-time low in many markets across the United States and eager buyers are returning to market more quickly than sellers.
BANKING INDUSTRY: The coronavirus has left banks with plenty of cash, but little to do with it.
UNDERINSURED: Homeowners need to be ready and insured for what is already a lively hurricane season.
DISASTER RECOVERY: Biloxi, Mississippi’s 15-year recovery from Hurricane Katrina offers lessons for other coastal cities.
BUCKET STRATEGY: Losing money in the early years of retirement can be difficult to recover from and may handicap an entire retirement.
BACKYARD HOUSES: Oby, a worker-owned coop, gives homeowners a constant stream of income, while making sure the small backyard house stays affordable for nearly a century.
COVID DESIGNS: Five design trends that have emerged during the Covid-19 pandemic.