Quick programming note: I’m going to be taking a break from blogging the next week or so and won’t be posting every day. That being said, if something looks particular interesting, I’ll check in.
This week’s big news is obviously the $900 billion rescue package that looks likely to be signed into law. As expected, it included a 1-month extension of the national eviction moratorium as well as $25 billion in direct renter assistance. This isn’t going to solve the potentially $70 billion problem but it is clearly a step in the right direction for both tenants and landlords. Hopefully, something more comprehensive will be on tap in 2020. MarketWatch
Chart of the Day
Early in the pandemic, we pointed out that mortgage rates were at historic high spreads compared to the 10-year treasury and would likely head lower. Today, the opposite is true with rates continuing to fall despite a 10-year yield that has been on the rise since October, compressing spreads substantially and bringing us much closer to “normal” spreads.
Source: US Housing & Mortgage Market Weekly (h/t Mark Foley)
WTF
Love is Blind: A Bloomberg reporter covering the Pharma Bro Martin Shkreli story fell in love with her subject, left her husband and lost her job only to be ditched by Shkreli when she became obsessed with him while he was serving his sentence. Still no word on the whereabouts of the Wu Tang album though. (h/t Mike Deermount) Elle
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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