THE ECONOMY
Cryptocurrency is making a comeback as 2020 comes to a close. Bitcoin jumped to a record $28,599.99 this week amid heightened interest from bigger investors.
Increase COVID-19 counts haven’t hurt stocks as the year ends, with indices chasing new record highs. Optimism continues as government stimulus is set to begin rolling in.
Treasury yields hit historic lows in early 2020 but increased slowly in the 2nd half of the year. A continuation of the economic recovery will likely drive yields higher in 2021.
HOUSING NEWS
According to the Case-Shiller index, property values climbed 7.95% year over year in October. Tight inventory and low mortgage rates have allowed prices to keep climbing.
Pending home sales declined for a 3rd straight month in November, as limited inventory continued to be an issue. However, sales were still 16% higher than last year.
The recent passed coronavirus relief plan includes financial assistance for landlords and property owners, including $25 billion placed into a rental assistance fund.