Previous: OCC Addresses Liquidity and Forbearance Issues Next: HUD, FHFA, CFPB Join Forces to Assist Homeowners Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 2020-05-12 Seth Welborn More Americans Expect to Miss Mortgage Payments The Best Markets For Residential Property Investors 2 days ago About Author: Seth Welborn Print This Post Share Save Home / Daily Dose / More Americans Expect to Miss Mortgage Payments May 12, 2020 1,552 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Related Articles in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Federal Reserve Bank of New York’s Center for Microeconomic Data released the April 2020 Survey of Consumer Expectations, which shows considerable deterioration in households’ expectations about most economic outcomes, including household debt. The perceived probability of losing one’s job reached a new series’ high for the second consecutive month.Median inflation expectations increased in April by 0.1 percentage point at the one-year horizon to 2.6% and by 0.2 percentage point at the three-year horizon to 2.6%. Respondents, however, increasingly disagree about the future path of inflation. The Fed’s measure of disagreement (the difference between the 75th and 25th percentiles of inflation expectations), increased for the second consecutive month at both horizons (from 5.1% and 4.4% in March to 6.0% and 4.7% in April for one-year and three-year ahead inflation, respectively). Disagreement about one-year ahead inflation reached a new series high in April.Median household income growth expectations dropped to 1.9% in April, reaching a new series low. The decrease was almost exclusively driven by respondents between the ages of 40 and 60. Additionally, 21.9% of respondents expect that their household income will decrease over the next year.The average perceived probability of missing a minimum debt payment over the next three months increased for the second consecutive month to 16.2% in April, well above its 12-month trailing average of 11.9%.Perceptions about households’ current financial situations compared to a year ago worsened for the second consecutive month, with 39.2% of respondents reporting to be worse off today than a year ago (versus 30.2% in March). Respondents are also increasingly pessimistic about their year-ahead financial situations with 31.6% of respondents expecting their households to be worse financially a year from now (versus 27.8% in March).Additionally, perceptions of credit access compared to a year ago deteriorated sharply in April, with 48.0% of respondents reporting access to credit being harder, as compared to 32.1% in March. Expectations for year-ahead credit availability also deteriorated in April, with 46.7% of respondents expecting that credit will become harder to access, as compared to 38.8% in March. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribe
ADES International, an oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has secured a contract renewal for the Admarine 261 jack-up rig in Saudi Arabia.Illustration. Source: ADESADES said in a statement on Monday that the Admarine 261 renewal was for one year, which would be effective upon the expiry of the current contract in February 2020, at the same daily rate.The MENA-focused drilling firm, which owns 13 jack-up drilling rigs, did not say what the day rate was but VesselsValue claims that the previous deal was for $67,000 per day.According to Bassoe Analytics, the rig has been working in Saudi Arabia under a contract with Saudi Aramco since June 2015.It is worth noting that this extension comes less than two weeks after ADES won an extension for the Admarine 262 jack-up rig.The extension for the Admarine 262 was for a five-year term on a higher day rate, estimated to be around $75,000.Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.