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NWQWM AM Financial Report

Stocks rebounded yesterday from losses last week as news from a Moderna vaccine trial sparked optimism about a potential virus vaccine.


 Confidence among home builders has recovered somewhat after last month’s record-breaking decline even as much of the country remains under stay-at-home orders because of the coronavirus.  The National Association of Home Builders’ monthly confidence index rose seven points to 37 in May. April’s figure had represented the lowest index reading since June 2012.


Fewer Americans are calling their mortgage servicers to ask for relief from mortgage payments, but the housing industry isn’t out of the woods yet.  More than 4.1 million homeowners are in forbearance plans now, which means 8.16% of all mortgages were in forbearance as of May 10, allowing borrowers to either skip or make reduced payments.  While mortgage servicers are still facing stress because of the record deluge of requests for payment relief, signs suggest that homeowners’ prospects have improved as parts of the country have begun to emerge.


San Francisco-based Square said they would let people work remotely, even after regional shelter-in-place orders end. The news came a week after Twitter announced their employees could permanently work from home.


With Northwest Quadrant Wealth Management, I’m Tyler Simones.

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