COVID-19

Mortgage Rates at a Record Low

The rate of a 30-year fixed mortgage just fell to 3.09 percent, due to a combination of factors happening in the economy, such as a steep decline in retail sales and other problems with the economy. Meanwhile, as of May… more

Retail Getting Clobbered

Retail sales beat another unfortunate record in April, with sales falling a record 16.4 percent from the previous month.  The March decrease of 8.3 percent was already the biggest decline on record, according to data tracked by the U.S. Census… more

J. C. Penney Restructuring Plan Includes REIT

Retailer J. C. Penney, which filed for bankruptcy on Friday, is creating a real estate investment trust to spin off its real estate assets to pay off debt. "By entering this restructuring support agreement with our lenders, we expect to… more

House Approves $3T Stimulus Package

The House of Representatives has passed an additional $3 trillion in stimulus funding called the HEROES Act, and though the Republic-ed Senate is expected to reject the measure, House Majority Leader Nancy Pelosi (D-CA) said she is willing to make… more

Social Security Recipients Facing Challenges

The 68 million Americans who receive Social Security payments might be in for a rude awakening next year, as their checks aren't expected to have a cost-of-living increase next year. The average monthly check would remain at $1,460 due to… more

Loews Delays Opening Until June 1

Loews Kansas City Hotel will now open on June 1, following original plans to open last month, due to concerns about COVID-19. “While our opening plans look a bit different than we had originally anticipated, there is no better time… more

Theme Parks, Like Worlds of Fun, Face Changes

Theme parks, such as Kansas City's Worlds of Fun, will not be be running in business-as-usual mode when they start to re-open, due to social distancing requirements that will change the capacities of rides. For its part, Worlds of Fun… more

Gov. Kelly Re-Tightens Restrictions

Kansas Gov. Laura Kelly has added a new phase to stay-at-home restrictions which would require certain business across the state to close back down on Monday, under a plan called Phase 1.5. They include bars, casinos, museums, theaters and entertainment… more

GSEs Change Standards for Mortgage Borrowers

Fannie Mae and Freddie Mac are offering new deferral options for mortgage payments. The deferral option starts on July 1, reports the American Bankers Association. Borrowers will reportedly have a variety of mortgage-payment options, says the American Bankers Association. Read… more

SBA Loans Scrutinized

The Small Business Administration is scrutinizing PPP loans that were administered. "Those loans—which have been marked by SBA as being in “research” status—must be reviewed for accuracy and completeness. A lender should verify the borrower’s name, EIN or Social Security… more