Dr. Ashish Jha is suggesting a new date for re-opening the economy. Yesterday he told Shepard Smith of CNBC what has to happen first. What’s behind the rush on new mortgage applications? Diana Olick of CNBC takes a look at the rapidly changing mortgage market. Should you prepare for a tax rise? Wealthy families and businesses have been planning for retroactive tax increases, but there’s some question as to whether they’ll actually occur. Laura Davison covers the situation for Bloomberg.
Economy Could Open Up By Late Spring If Enough People Get Vaccinated, Says Dr. Ashish Jha — “My relatively optimistic view is that we don’t have to wait until the end of the summer or even the beginning of the summer, that by late spring, if enough people have been vaccinated, you’re going to start seeing case numbers really come down a lot,” said Jha, who is dean of Brown University’s School of Public Health. Read more…
Mortgage Refinance Spikes 20% As Borrowers Fear Missing Out On Record-Low Rates — Mortgage applications to refinance a home loan spiked 20% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was the highest level since last March. Joel Kan of the Mortgage Bankers Association explains the rise. Read more…
Retroactive Tax Hikes Aren’t the ‘First Choice,’ Biden Aide Says — Speculation has surged that the new administration could pursue increases in corporate, individual and capital gains tax rates later this year, and make them effective to the start of 2021. But the Biden administration isn’t actively considering retroactive tax increases. Mark Mazur, the Treasury Department’s deputy assistant secretary, discusses tax policy. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller