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Housing completion data is positive news for housing market

During a typical recession, builders typically show lower starts, permits, and completion data. But builders now they have a massive backlog of homes they need to finish.

ISM and NFP Team Up To Send Rates Sharply Lower

ISM and NFP Team Up To Send Rates Sharply Lower Bonds got off to a strong start today when the wage component of the nonfarm payrolls (NFP) came in weaker than expected with a big downward revision to last month’s balmy number.  Given Powell’s recent comments on wages, a moderate rally wasn’t a surprise.  The surprisingly large rally didn’t get underway until after the 10am ISM services data, which abruptly dropped into recessionary territory. Econ Data / Events Nonfarm Payrolls 223k vs 200k f’cast, 256k prev Unemployment Rate 3.5 vs 3.7 f’cast, 3.6 prev Wage growth 0.3 vs 0.4 f’cast last month revised down to 0.4 from 0.6 ISM Services 49.6 vs 55.0 f’cast, 56.5 prev ISM new orders 45.2 vs 56.0 prev Market Movement Recap 08:40 AM First move is stronger after NFP (due to wages).  Gains are choppy and minimal.  10s are currently still up 1.3bps on the day at 3.735 and MBS are down 2 ticks (0.06). 10:06 AM Huge miss in ISM data = another jolt of rally momentum for bonds.  10s down almost 9bps at 3.638 and MBS up over half a point. 11:59 AM Post-ISM rally extended until MBS were/are up nearly a full point.  10yr down 14.4bps at 3.578.  Fairly sideways for the past hour. 02:31 PM Still relatively sideways, but now erring on the side of strength.  MBS creeping to day’s best levels, up 29 ticks (.91).  10yr down almost 16bps at 3.564. 04:38 PM Trading levels have stayed in line with the last update (i.e. drifting out near the highs of the day in MBS and near the lows of the day in TSY yields).

Today’s 30-year mortgage rates dive below 6% | Dec. 20, 2022 – Fox Business

Today’s 30-year mortgage rates dive below 6% | Dec. 20, 2022  Fox Business

Top NJ LO Chris Gallo is getting back to basics in 2023

After business declined in 2022, Chris Gallo plans on going back to the old school way — by managing data and relationships.

Going Through The Mortgage Approval Process: Providing Documentation, Waiting And Stress

Going through the mortgage approval process can be a stressful process, especially when you’re also trying to sell your current home. Here’s the process as we’re experiencing it.

The post Going Through The Mortgage Approval Process: Providing Documentation, Waiting And Stress appeared first on Bible Money Matters and was written by Peter Anderson. Copyright © Bible Money Matters – please visit biblemoneymatters.com for more great content.

Pros and Cons of Buying a House After Age 60

While you might not immediately associate retirement with homeownership, buying a home after age 60 can be thrilling and financially savvy. Instead of looking for highly rated school districts, you can find the ideal combination of comfort, affordability and proximity … Continue reading →

The post Pros and Cons of Buying a House After Age 60 appeared first on SmartAsset Blog.

Money Manners: Tipping

A few weeks ago two service repairmen visited our home to fix our HVAC units. My husband tipped them each $20 on their way out because they’d been extra helpful. One man happily accepted, while the other kindly declined. Can you guess why? It’s tricky. It’s not always clear how much we should tip –

The post Money Manners: Tipping appeared first on MintLife Blog.

How to manage money for financial success in the U.S. military

Howdy! I’m Spencer, an active-duty Air Force officer investing for financial independence by age 40. Since 2016, my wife and I have saved half of my active-duty paycheck into our financial independence accounts. I started writing in 2012 about achieving FI in the military on my website Military Money Manual.

Because J.D. has no experience with the military, for Veterans Day he asked me to share the lessons I think every servicemember needs to know about getting rich slowly. These are the concepts I wish someone had explained to me as a newly-commissioned officer in 2010. (These lessons are just as applicable to the enlisted side of the house.)

I’ve split this article into two sections.

First, I’ll cover some basic lessons for beginners: taking care of yourself, emergency funds, military friendly banks, tracking your money, and TSP investing.

Next, I’ll cover some advanced topics: investing for financial independence, military deployment, travel, and military credit-card perks.

Let’s start with the basics.

Educate Yourself

One of the harshest life lessons you must learn early in your military career is this: “No one is looking out for you except you.”

You must take responsibility to educate yourself about saving, investing, spending, and achieving financial independence. If you have a really good supervisor or commander in the military, they may explain the Thrift Savings Plan (TSP) to you, but that’s probably it.

If you want to achieve financial independence in the military, you need to learn how to do it yourself. There are many resources available to learn about money, including:

  • /r/MilitaryFinance on Reddit
  • /r/personalfinance on Reddit
  • The military finances page at the Bogleheads wiki
  • Any of the books on my recommended reading list (or J.D.’s list)

I believe it’s important to always be learning, to always be asking questions. If you have questions about your military pay, benefits, or personal finance, type them into Google. Ask your supervisor. Ask your buddies (but don’t always take their advice haha).

Never be afraid to ask questions. Keep yourself educated about money.

Finally, a Stock Market Crash!

Well, that was kinda sudden! In the three months or so since we last spoke, the world has become an entirely different place – at least for those of us who keep up with any sort of international, financial or stock market news.  The headlines are new, and the problems are of course very real. […]