*Field Required
A couple of weeks ago, the Federal Reserve announced a hefty 50-point cut in the benchmark interest rate, which was bigger than the expected 25-point decrease. The Fed's decision to cut rates was mainly fueled by the decreasing levels of inflation, although shoppers are still faced with high grocery prices. It still remains to be seen if the rate cut will encourage more residential home sales, especially as other factors such as labor and economic data also affect real estate markets.
REACH YOUR GOALS
Using Your Equity to Pay Off High Interest Debt
High interest credit card debt can suck the life out of anyone. Paying off your credit card debt at today's high interest rates can also take major sacrifice—but it doesn't have to. Not if you're a homeowner, anyway.
Last month's Consumer Price Index (CPI) news was positive, as it showed that prices cooled to 2.9% last month (on a 12-month basis), down from 3% in June. This is the first time the CPI dipped beneath 3% since March 2021, and strongly suggests that the Federal Reserve will proceed with a rate cut later this month. Mortgage interest rates also show signs of falling, which has already encouraged some homeowners to refinance their existing mortgages.
If you prefer not to make major financial decisions during an election year, you're not alone. However, history shows that stock markets tend to rise slightly following an election, with no long-term difference in performance. Other positive financial news has appeared lately, such as a slowdown in the overall Consumer Price Index (CPI) and an increase in the number of homes for sale. Also, an additional credit scoring method for home loans was recently approved by the FHFA, which is expected to help millions more potential homeowners achieve their dreams.
Summer has officially begun, so it's a perfect time to take some time off and spend time with friends and family. If you have savings in place, check out our article on Compound Interest and see just how hard your money's working for you, even when you're not. Even though you may be camping indoors this month, don't feel guilty about going online and checking out future purchases. Research has found that this habit, aka dreamscrolling, can encourage better financial management habits.
REACH YOUR GOALS
Will ChatGPT Replace Your Investment Advisor?
Even though artificial intelligence (AI) already powers everything from thermostats to Netflix recommendations, it can't provide you with the services offered by a bank manager, CFP or financial advisor. However, AI is already improving your overall financial experience in ways you may not realize.
It’s been three years since the last Summer Olympics, and excitement is building for the upcoming Games! Whether you’re a die-hard spectator or a casual observer, there are plenty of ways to celebrate the Summer Olympics in style. So get ready to dive into the spirit of the Olympics with these fun and creative ideas!
The American flag is viewed as a symbol of freedom, liberty, and human rights, but did you know that the current design is the 27th? It’s been modified officially 26 times since 1777, most recently by President Eisenhower in 1959 (officially adopted in 1960) with its current 50-star design. The current design is the longest-tenured, having been in use for more than 63 years.
If you're wondering how to make your money work harder for you, or want help with setting up investments and savings accounts, it could be time to find a financial advisor to help you. Here are some strategies to keep in mind.
The benefits of homeownership involve more than simply putting a roof over your head. The goal of buying a house will be less meaningful until you understand the actual value behind this investment. It isn’t just to achieve the “American dream”!
While our stock markets turned in a positive performance during the first quarter of the year, inflation remained stickier than was hoped, with numbers waning but still above the target set by the Federal Reserve. This kept mortgage interest rates higher, which resulted in declining home sales in some areas. However, the forecast for the second half of 2024 is largely optimistic. The labor market has begun cooling, which should help slow inflation, especially when consumer spending is reined in.
One of the great things about owning a home is that you can truly make it yours. Don’t like the carpet? Rip it out. Hate the tan walls? Paint them any color. Don’t like the wall between the living room and the kitchen? Tear it down…as long as it’s not a load-bearing wall!
As spring kicks into gear, we're all about making sure you're in the know and feeling confident about your money matters. This month, we've cooked up a mix of juicy topics for you. Wondering how different generations value their time? Curious if an adjustable rate mortgage could be your thing? We've even got a quick Bitcoin update and some fun decorating tips to spruce up your space! So, grab a seat, get comfy, and let's dive into the world of home sweet homeownership and finance together.
May is Asian American and Pacific Islander Heritage Month, a time for recognizing their significant contributions to the history, culture, and achievements in the United States. (Go here to learn more.)
At APM, we wanted to take this opportunity to learn more about our APM Family and what their history, culture, and heritage means to them.
It's that time of year when everything seems to come alive, including our spirits! Whether you're dreaming of a new home, thinking about refinancing, or just curious about your options, APM has your back. So kick back, enjoy the sunshine, and let's make this month one to remember. Here's to finding your perfect place to call home and making some great memories along the way!
As April blossoms forth, signs of renewal are all around us. Though inflation and the specter of higher interest rates linger, there's hope in the air. Forecasters predict a gradual upturn in the residential real estate market, with more new constructions and existing homes hitting the market throughout 2024, akin to buds bursting into bloom. Moreover, consumers may find relief in their finances following the recent decision by the CFPB to rein in bank overdraft fees and credit card late payment charges, promising a brighter financial landscape ahead.
As we transition into the spring season, we're excited to share valuable insights and updates from the world of home finance.
In this edition, we'll delve into important industry trends, provide helpful resources to empower you on your homeownership journey - and even share a few tips about your IRA and changes to credit card late fees that are on the horizon.
When you own your own home, you want to make sure you take every deduction possible to maximize your tax refund. Many people view these refunds as “found money,” but they’re really not. It’s money that you’re entitled to receive back…as long as you claim the proper deductions.
Owning a home is often considered a cornerstone of the American dream. Beyond the pride and security of homeownership, there are also financial perks that come with it, particularly when it comes to tax benefits. Understanding these tax advantages can mean significant savings and a more efficient financial strategy for many homeowners.
