In response to the COVID-19 pandemic, the Fed lowered the historically low prime interest rate to 0%. Interest rates for 30-year mortgages are currently at historic lows, around 3% for the past few months since the virus outbreak.

With GDP growth falling 4.8% in the first quarter of the year, consumer spending dropping to record lows, and unemployment nearing all-time highs, there is a major focus on the economic recovery. As states and counties prepare to reopen, here is what you need to know about the state of the overall economy.

These are certainly uncertain times for much of the U.S. economy, but one industry that is still open is real estate. Especially given the current interest rate, many lenders are overwhelmed with mortgage applications.

The ongoing COVID-19 pandemic continues to dominate the headlines. Some states are finally starting to open back up, while others are committed to a few more weeks, at least, of the stay-at-home order. Investors and markets across the world wait in limbo for daily updates.

The $2 trillion dollar stimulus package signed by President Trump is the first attempt by the government to slow the economic downturn caused by COVID-19. The stimulus, the largest in U.S. history, provides relief for individuals, families, and several businesses. Here’s what you need to know.

The market has been anything but normal over the past few weeks as the U.S. economy has come to a standstill amid the COVID-19 outbreak. States and cities across the U.S. have issued stay-at-home orders.

President Trump had initially hoped the economy would be reopened by mid-April, but his latest guidelines urge stay-at-home orders to remain in effect through the entirety of the month. Only essential businesses — real estate, title insurance, healthcare, hospitality, food, shipping, law, infrastructure, and energy — have remained open with the rest moving their operations entirely online and mandating “work-from-home” policies.

Late last week, Illinois Governor JB Pritzker issued Executive Order 2020-10 in response to the COVID-19 pandemic. This order implemented a stay-at-home mandate, emphasized social distancing, and identified essential businesses permitted to remain operational. The order took effect on Saturday, March 21, 2020, at 5:00 PM and is set to continue through April 7, 2020.

The COVID-19 pandemic has brought sweeping changes to the world, including significant disruptions in financial markets. In response, President Trump declared the pandemic a national emergency, implementing plans to increase testing and restrict travel to Europe. Across the U.S., schools, restaurants, bars, sporting events, and other nonessential businesses have temporarily shut down, leaving Americans navigating isolation and social distancing.

The biggest economic news of the past several weeks stems from the impact of the spreading coronavirus. Stock markets have tumbled, and investors remain uncertain. Despite this, reports from manufacturing, retail, and housing indicate growth in each respective industry.

When buying a home, title insurance serves as a safeguard against ownership disputes caused by title defects. While most financial lenders require buyers to purchase title insurance, you might wonder if it’s necessary when buying with cash.

January threw a variety of obstacles at investors around the world. Tensions seemed to flare between the United States and Iran, negotiations on trade continued between the U.S. and China, the coronavirus spread to several countries, and impeachment proceedings continued in the Senate. Despite all of this, the stock market entered February at an all-time high while several other signs of growth persist.

The home-buying process should be exciting and joyful, but concerns about the legal status of your property’s title can quickly dampen the experience. Ensuring you have a clean and undisputed claim to your property is essential—and that’s where Illinois title agents come in.

Despite stock markets finishing near all-time highs at the end of 2019, the beginning of the new year is already presenting new challenges for investors. While the housing industry remains optimistic, manufacturing continues to suffer. Several political issues will continue to affect the markets as we begin the new year.