Last month, many countries began to feel the impact of tariffs introduced earlier this year, leaving many of us waiting to see if the pricing on certain products would change. As of this time, tariffs ran from 10% for the United Kingdom to 50% for Brazil. However, these are subject to change, including the tariffs between China/United States. A recent truce between the countries means the U.S. will keep its standard tariff rate on Chinese goods at 30% while China maintains a 10% rate on American goods.
Recent economic data contributed to some market changes that buyers have been longing for, including lower interest rates. Earlier this month, the labor market began showing signs of a slowdown during 2025. Newer data reported that only 73,000 jobs were added in July, which was well below the expected 115,000.
This gives serious homebuyers a window of opportunity to lock in a competitive mortgage rate, as rates could fluctuate in either direction soon, affected by economic data due for release later this month and in September.
Lower rates aren't the only good news for buyers:
House hunters should keep in mind that competition may be rising in their area. On a national level, mortgage applications have already increased, rising 2% week over week in late August.
Source: redfin.com
Homeowners shopping for insurance for their property are usually aware of some factors that affect their premium's cost. These may include the home's age, and whether it's in an area commonly threatened by events like hurricanes and wildfires.
However, another factor may actually affect your premium's rate more than age or location: your credit score.
A recent article published by the Consumer Federation of America included some disturbing facts:
If you feel you've been unfairly penalized because of recent unemployment, medical costs or a similar event, contact your insurance company and ask for a "life event exception". Your state's Department of Insurance may also be able to assist.
Source: consumerfed.org
Owning a home unlocks significant wealth-building opportunities. You can convert your property into a rental income source. Whether it's renting out a room, an ADU, or the whole house, it can be a way to fund vacations, save up for another property, or generate passive income.
Even better, your home equity is a powerful tool you can tap into through a home equity loan, cash-out refinance, or HELOC. That money isn't just for home repairs; you can use it for anything, from investing in the stock market to paying for college, retirement, or even something fun like a boat. Essentially, by owning property, you gain options.
As you build equity, whether through mortgage payments or market appreciation, you essentially get access to a loanable asset. A cash-out refinance or HELOC lets you redirect that equity to new investments or pressing needs. Equity isn't just wealth—it's flexibility.
Real estate gives you two key wealth streams:
With real estate, you can control a high-value asset using modest initial capital. Rental income can outpace monthly costs, and as values climb, your ROI multiplies. This amplifies returns, but, as always, careful due diligence is essential.
Real estate investing comes with tax benefits that other assets often can't match:
There's no one-size-fits-all approach:
Real estate is not directly tied to stock market fluctuations, offering portfolio diversification. Plus, in higher interest environments, savvy investors can find bargains as competition softens.
Owning real estate has also been shown to be a key path to building intergenerational wealth. Homeowners, on average, have significantly higher net worth than renters.
With inflation, volatile markets, and ongoing affordability challenges, real estate stands out as a tangible, long-term solution. It offers:
Real estate isn't just property; it's a wealth machine. You build equity, earn passive income, tap into tax advantages, and diversify your holdings all while holding a tangible asset that can support multiple facets of your financial life. In today's economy, where people seek both growth and stability, real estate remains one of the most compelling vehicles for building long-term wealth.
Source: apmortgage.com
A new federal tax rule now allows many tipped employees to deduct up to $25,000 in tips from their federal income taxes. It's hoped that this will increase their take-home pay, although not all tipped staff will benefit.
The No Tax on Tips Act is part of H.R. 1, and created a temporary income tax deduction for workers who earn tips as a major part of their income. Under new rules, eligible taxpayers may exclude up to $25,000 in reported cash tips from their federal income taxes between 2025 and 2028.
By federal law, a tipped worker is anyone who makes at least $30/month in tips. However, four states have a lower threshold, only requiring workers to receive $20 in tips monthly to be classified as a tipped worker. Five other states have no state laws setting a minimum wage for tipped employees.
The new provision permits cash tips earned within a calendar year to be deducted from a worker's adjusted gross income (AGI), which could reduce the amount of pay that's subject to federal income tax.
Tipped workers with lucrative incomes, such as casino workers and bartenders at expensive restaurants, often report substantial tip income. They're most likely to benefit from federal tax savings.
Those earning less, like restaurant servers and gig workers, may not earn enough to benefit from the deduction. It's believed that about 37% of these workers earn too little to owe any federal taxes.
Source: empower.com
As AI permeates our daily lives, it's also made itself at home when we're online. Google users now see more than links to sites—a summary generated by Google's AI Overview usually appears above these. These are convenient shortcuts, especially if someone's searching for an answer to a simple question. But there's one hitch: AI Overview makes quite a few mistakes.
While there are many examples of AI Overview slipups, a Google search is disarmingly honest. A recent search of this phrase: "How many Google AI Overview answers are inaccurate?", generated this AI Overview response:
"While it's difficult to pinpoint an exact number, studies and reports indicate that a significant percentage of Google AI Overviews contain inaccuracies. Some reports suggest that 43% of finance-related AI Overviews contained inaccurate or misleading information. Another study found that 57% of AI Overviews related to life insurance were incorrect."
A May 2024 Google blog article explained that their Overviews' accuracy is similar to their older Featured Snippets search. These took 10 web listings and displayed them in a box, highlighting them as the best of all results. But Featured Snippets made mistakes as well, such as one where it answered the question "Why are fire trucks red?" with a Monty Python sketch.
While switching to another search engine may be a better idea, especially when you're shopping for financial products and services, calling your local APM loan advisor for assistance can provide real peace of mind.
Source: kiplinger.com