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The KUIK Market Update for Monday, February 12: |
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Markets are up. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Up |
205 |
points |
24,396 |
7:20 AM |
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S&P500 |
Up |
0.6% |
percent |
2,635 |
(1.99) |
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Nasdaq Composite |
Up |
0.6% |
percent |
6,912 |
(2.34) |
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30 Year Treasury |
Up |
1 |
Basis Points |
3.14 |
Annual Yield |
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President Trump will present his plan for spending $200 billion over 10 years on infrastructure, mostly by using new, competitive grants designed to encourage states and cities to raise their own money for improving rails, airports, highways and water systems. The proposal also would expand federal loan programs for those projects resulting in $1.5 trillion in new investment. The White House says it will raise the $200 billion through spending cuts to be outlined in the budget the president will send to Congress this week. |
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A new program is expected to be announced Thursday by Airbnb, Fannie Mae and three lenders: Quicken Loans, Citizens Bank and Better Mortgage which will allow borrowers who have rented out property on Airbnb for a year or longer to count some or all of that money as income when refinancing. Lenders have been tougher on income from side businesses and part-time work since the mid-2000s, when poorly documented income on mortgage applications helped fuel the housing bubble. Fannie will evaluate the program and could decide over time to back mortgages from any lender that chooses to count Airbnb income in a refinance, as long as short-term rentals aren’t against local laws. |
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Sign up for a Social Security and Retirement Analysis at brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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www.marketwatch.com/story/trump-set-to-unveil-200-billion-infrastructure-plan-monday-2018-02-11 |
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For today’s Market Update Report click to listen-> |
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