Housing

While the number of people filing for unemployment dropped to 4.4 million, there are now 26 million Americans without work and economists expect the unemployment rate to hit 20%.

Existing home sales fell 8.5% last month as the Philadelphia Fed said its indexes fell to record lows in April.

Jobless claims fell in the latest week though now 22 million Americans filed for unemployment since late March.

The housing market may turn out to be a big factor in how fast the U.S. economy recovers.

Wednesday’s economic data were not as bad as projected, but included just the beginning of the effects of the coronavirus on the economy.

Consumer confidence dropped in March as the economy shut down to prevent the spread of the coronavirus, but economists expected a larger decline.

New home sales were up 14.3% from a year ago, despite a 4.4% decline in February to a seasonally adjusted annual rate of 765,000, the Commerce Department reported Tuesday.

With a significant decline in new infections in China, positive news may be ahead, one expert says.

S&P Global Ratings is postponing a March 31 forum on public housing bonds due to concerns about the outbreak of COVID-19.

Dan Scholl, head of municipal fixed income at Wilmington Trust, views munis as inefficient and retail oriented. However, he maintains credit has never been better. In managing $5 billion of assets in high-grade SMAs, he finds value in housing, healthcare and IDBs. John Hallacy hosts.