Happy Friday everyone! Today is April 24 and we are reading that the market is mostly flat after a volatile week, mortgage bailouts balloon by a half million more loans in one week and U.S. consumer sentiment falls for a third consecutive month. We also see that credit card companies are cutting credit limits without warning and automakers are attempting to lure buyers with rare incentives.
Stocks were mostly flat on Friday as investors wrapped up another volatile week that featured unprecedented moves in the oil market.
As the economic shutdown drags on and job losses mount, more borrowers are opting to delay their monthly mortgage payments through mortgage forbearance plans.
U.S. consumer sentiment fell for a third straight month as people weigh the coronavirus pandemic and the possibility of an economic re-opening.
As financial conditions worsen for millions of Americans, credit card companies are tightening the purse strings. In fact, some card issuers have already begun lowering credit limits — sometimes without notice — and more are expected to follow.
U.S. car sales in 2020 were expected to be slightly below the near-record levels seen in recent years. Then the coronavirus struck the United States.