The average rate for a 30-year fixed mortgage rose to 6.81% last week, a level not seen since July 2006, the Mortgage Bankers Association said Wednesday. That was an ominous date in the housing market since it was shortly before prices began a years-long slide, ultimately losing more than a quarter of their value before beginning to recover according to the S&P CoreLogic Case-Shiller House Price Index, as the chart below shows....
Municipal bonds are securities. The original owner may sell them to other investors on the secondary market. That allows the bond’s price to change. Holding the bond until maturity, your investment’s rate of return will not be affected by market changes. Three Types of Bonds There are three types of municipal bonds. One of the most common types is general obligation bonds. The borrower generally repays them by using tax revenue, and they are not backed by a specific asset or project that will produce revenue....
Reptile8488 / Getty Images Through this plan, family members and even friends can contribute to a child’s college fund. (Since January 1, 2018, 529 accounts in many states, including Ohio, may also be used for expenses at an elementary or high school.) The maximum amount that can be saved for a single beneficiary is $400,000. College plan money must be used for the following qualified expenses: tuition and fees, computer equipment and related technology and services, books, supplies, any equipment required for enrollment or attendance, room and board costs during any academic period in which the beneficiary is enrolled at least half-time, and certain expenses for a special-needs student....
If you have kept even reasonably good business tax records during your tax year using your accounting software or your accounting information system, then you have everything in place to prepare your income taxes for the previous year. Before filing your taxes, you also need to be aware of the type of accounting you use for your business. Do you use cash or accrual accounting? That makes a difference when filing taxes....
Authorities Are Notified Immediately According to the New York Vehicle and Traffic Code, you are required to surrender your license plates before your insurance policy is canceled, or you will risk having your registration and your driver’s license suspended. The moment your policy lapses, the insurer will electronically notify the Department of Motor Vehicles—your vehicle registration will be immediately suspended. This will happen even if your car or truck is parked off of a public road or put into storage....
It’s harder to save and invest profitably if you don’t check in on your money. Analyzing your portfolio improves the odds of having enough growth to harvest the financial rewards you need down the road. This can seem daunting until you get the hang of capital allocation. This basic introduction will better prepare you for the task of assessing your portfolio’s health. If you outsource that job to a professional, you’ll learn the questions to ask....
Orbon Alija In a report assessing trends across racial/ethnic groups, the W.E. Upjohn Institute for Employment Research, a nonpartisan not-for-profit group that maintains indices on monthly wages and hiring volumes, said the latest hiring picture “may not be as bleak as commonly thought.” The institute’s New Hires Hourly Wage Index, a measure of how much newly hired workers are earning compared to their salaries in 2005, shows the wages of White workers have risen 8....
Not all debt is bad debt. In fact, even “bad” debt isn’t so bad when it’s kept at a level reasonable for your income. Still, beware of too much debt. Here are some good reasons to go into debt. Reasons to Go Into Debt There are reasons you may want to assume some debt. You should consider each type of debt carefully and think about how that will impact your life and your ability to live the lifestyle you want to live....
The new refinancing option offers lower interest rates and monthly payments to owners of single-family homes who have a mortgage backed by Fannie Mae or Freddie Mac, and who earn no more than 80% of the median income for their area. To be eligible, borrowers must have missed no more than one payment in the previous 12 months and must meet certain other requirements, the Federal Housing Finance Agency (FHFA) said Wednesday....
Why Write a Resignation Letter Writing a resignation letter is one of the final impressions you’ll leave on your employer—aim to make it a good one. Along with being an important professional gesture, a resignation letter serves as your official notice. Writing this letter or email helps ease the transition for both you and your manager. What to Include in Your Resignation Letter The details of your departure from the company....
Purpose The purpose of restrictive monetary policy is to ward off inflation. A little inflation is healthy. A 2% annual price increase is actually good for the economy because it stimulates demand. People expect prices to be higher later, so they buy more now. That’s why many central banks have an inflation target of around 2%. If inflation gets much higher, it’s damaging. People buy too much now to avoid paying higher prices later....
What Is a Resume Profile? A resume profile is a section of a resume or curriculum vitae (CV) that includes a brief summary of an applicant’s skills, experiences, and goals as they relate to a specific job opening. The profile can be listed as an overview or summary, or a headline that includes the candidate’s job goal can be added above the profile to help get the employer’s attention. Why Add a Profile to Your Resume Resume profiles are the first opportunity to highlight a person’s relevant career experiences, skills, and what goals they are looking to achieve while in their next position....
A reverse mortgage can make sense in some circumstances for seniors who have significant home equity or own their home outright. However, there are a lot of reverse mortgage pitfalls to watch out for, including high fees, complex rules, and scams. Learn the red flags you should look out for if you’re considering a reverse mortgage. How a Reverse Mortgage Works A reverse mortgage is a type of loan that allows homeowners age 62 and older to convert part of their home equity into income....
Setting Up AceMoney Setting up and installing AceMoney is a very simple process. During the setup procedure, you’re given the opportunity to select a default language and currency along with other options. The list of available languages and currencies is quite long, which undoubtedly contributes to the popularity of this personal finance software worldwide. Before you get started, AceMoney asks if you want to use the sample file that comes with the software....
A well-written recommendation letter endorses the candidate’s qualifications for an internship, job, college, graduate school, or other employment, experiential or educational experience. Reference letters can be required for many different reasons: Companies sometimes ask for reference letters for candidates under consideration.Schools often require a reference as part of an applicationCertain professional organizations may require a reference, as well as lenders, landlords, or coop or condo boards. Types of Reference Letters There are four different types of references:...
Instead of seeing it as one more thing to do, try thinking about your thank-you letter as an opportunity to make a good impression. Review advice on how to say thank you for a second interview, including how to follow up, who to thank, as well as sample thank-you letters and emails. What to Expect From a Second Interview When you are invited back for a second interview, you are likely one of the top contenders for the job....
But that’s not the only difference you should be aware of when deciding which type of card is right for you. What’s the Difference Between a Secured and Unsecured Credit Card? Secured card deposits don’t cover your monthly credit card bill. You’ll need to pay the bill on time each month. If you don’t pay the bill in full, you’ll incur interest charges, which are often higher than average credit card interest rates....
The difficulty even the earliest holiday shoppers are experiencing shows how snarled the supply chain has become because of pandemic-related fallout over the past year and a half. To help alleviate the shortages and bottlenecks, President Joe Biden said this week the Port of Los Angeles, the busiest seaport in the country, had committed to adding more shifts and ultimately operating around the clock. Retailers and shippers including Walmart, FedEx and Home Depot have also pledged to add shifts to move more cargo, ease congestion and get more goods to more people, the White House said....
The future of driving is going to look very different, and it’s coming sooner than you think. The independent think tank, RethinkX, predicts that by 2030, 95% of the miles traveled in the U.S. will be covered in self-driving electric vehicles owned by ridesharing companies. “I think a child born today is unlikely to learn how to drive,” says futurist Juan Enriquez, co-author of Evolving Ourselves: How Unnatural Selection and Nonrandom Mutation are Changing Life on Earth....
A key way to optimize the return on your investments is by using an income investing approach. By collecting cash flow from dividends from stocks, interest from various types of bonds, and distributions that come from a variety of investments, you can create a solid portfolio. Each stage of self-employment comes with a different list of “to-do’s” when it comes to retirement planning. In order to keep yourself on track, try to follow these tips....
