U.S. stocks plunged yesterday, joining a global equity selloff, as the spread of coronavirus beyond China raised worries that the hit to overseas economic growth could be more persistent than investors expect, hampering the prospects for a global recovery in 2020.
In the US Bond Market the 10 Year Treasury traded at the lowest yield since 2016 and the 30 Year Treasury hit its lowest yield ever as investors rush into the perceived safety of Bonds.
Sales of previously owned homes fell slightly in January, but they still appear to be trending higher overall amid a mini boom in the real estate business tied to tumbling mortgage rates. Existing-home sales slipped 1.3% last month to an annual pace of 5.46 million. That’s how many homes would be sold if the rate of sales was the same for the entire year. Yet in a sign of how much stronger demand has gotten, sales of previously owned homes were almost 10% higher compared to the same month last year. The only reason sales probably aren’t even stronger is a lack of homes for sale.
The average FICO score in the U.S. hit a record high of 703 in 2019, according to Experian. That’s a two-point increase from 2018 and up 14 points since 2010. A 703 FICO score falls within the range of good credit. The fact that many Americans have good credit scores is promising, since having a high score is key to qualifying for the best credit cards, mortgages and competitive loan rates.
With Northwest Quadrant Wealth Management, I’m Tyler Simones