ATTOM’s national home flipping report also noted that the median resale price of flipped homes grew faster than they did back when home-flip investors were buying homes. It pointed out that in the first quarter of 2023, the typical resale price on flipped homes was $305,000 – 1.7% bigger than the $300,000 recorded in the … [Read more…]
By Bobby Parker | Editor
Lori’s Ace Home & Hardware will host the Women in Power workshop to teach women how to operate lawn and landscaping equipment with confidence.
The workshop will be from 4 to 5 p.m. July 11 at the hardware store, 2800 Raeford Road, Suite 24A, according to a news release.
Participants will learn to safely operate a leaf blower, weed trimmer and hedge trimmer; the features, benefits and pros/cons of various gas and battery models; and how to maintain the equipment, the release said.
“Since opening in March, we’ve had several female customers ask us how to operate the outdoor power equipment,” said Lori Tracy Stobbe, president and co-owner. “Many women are taking care of the lawn and landscaping duties but may not feel confident in their ability to use the equipment. We can help them.”
The workshop will include a hands-on demonstration and Q&A session. Presenters will include Nate Stobbe, co-owner, and Aaron Russell, assistant store manager. Both have extensive experience operating outdoor power equipment and teaching customers how to use it, the release said.
Reservations can be made by calling the store at 910-900-4455.
Lori’s Ace opened March 15. The nearly 20,000-square-foot store includes an outdoor garden center, patio furniture, home decor and gifts, toys and games, kitchen and bath accessories, and wild bird food and feeders.
Optometrist opens practice on Ramsey Street
Optometrist Joseph Ballard has opened his own practice, Northside Family Eye Care, at 5811 Ramsey St.
Ballard is a graduate of the University of North Carolina at Pembroke and has a doctoral degree from the Southern College of Optometry. He worked at Professional Eye Care in Hope Mills for eight years before opening his practice at the first of the year.
Northside is a full-service eye care practice that helps patients with routine eye exams for eyeglasses and contact lenses, emergency eye care needs, chronic eye treatment and prevention of diseases such as glaucoma, cataracts, and dry eye disease. It is the only locally owned and operated eye care practice in north Fayetteville, according to a news release.
New patients are being accepted, and most insurance coverage is accepted.
Stress recovery center secures art therapy grant from Arts Council
SPRING LAKE — Enclave Stress Recovery Center has received a Mini Grant from the Arts Council of Fayetteville-Cumberland County.
The grant is for seed funding for art supplies and equipment to host adult art therapy classes called “Weekly Wind-Down,” according to a news release. The counselor-led therapy classes will begin at 6 p.m. June 30.
“We are very fortunate to have an art therapist and two licensed counselors on our team at the Enclave,” said Executive Director Taneshia Kerr. “They put a lot of time and research into the curriculum creation, and we are ready to use this award as a steppingstone to bring even more stress recovery opportunities to Cumberland County.”
The Weekly Wind-down will be a 90-minute art therapy program that is open to the public. Participants will meet in a suite that has been prepared with therapeutic-grade aromatherapy diffusion and Tibetan singing bowls, the release said. These modalities are designed to lower physical tension and improve mood.
The program includes a five-minute talk about a stress recovery technique, a guided deep breathing exercise, and an art station with mixed media, the release said.
The Enclave has been providing mental wellness and emotional support services to Cumberland County since 2020. For more information, call 910-354-6287 or email [email protected].
School resource center named for former Superintendent Harrison
Cumberland County Schools’ Educational Resource Center, located at 396 Elementary Drive, has been named in honor of William “Bill” Harrison, former superintendent of the school district.
Principals, Board of Education members, district staff, elected officials, retired personnel who served with Harrison as well as his family and friends attended a renaming ceremony on June 13.
Current Superintendent Marvin Connelly Jr. presented Harrison with a plaque.
“Today, we stand on the shoulders of Dr. Harrison’s remarkable legacy,” Connelly said. “His tireless efforts, vision and passion have transformed the lives of countless students, educators and families in our community.”
Harrison spoke candidly about the significance of the honor.
“This is more special to me than a school would have been … because of my history with it and because of how important I think professional development is,” he said.
Harrison began teaching in Fayetteville after receiving a bachelor of arts degree in intermediate education from Methodist College in 1974. His work began at Vanstory Elementary School in 1974. He was superintendent starting in August 1997 and served until March 2009.
He was appointed by former Gov. Bev Perdue as chairman of the North Carolina Board of Education and served from 2009 to 2012. He then was superintendent of the Alamance-Burlington County School system and retired in 2018. In total, Harrison served Cumberland County for 26 years.
The Board of Education approved naming the center for Harrison on Feb. 14.
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Cumberland County,
business,
Lori’s Ace Hardware,
Bill Harrison,
optometrist,
stress recovery
Source: cityviewnc.com
Some good news if you happen to have a Bank of America owned mortgage and live in the state of Utah.
A St. George judge has temporarily put a stop to all foreclosure sales in the state after an attorney claimed the bank and its affiliates weren’t properly registered to do business in the state, according to the Salt Lake Tribune.
The case, which evolved out of a homeowner-facing-foreclosure lawsuit, involves Bank of America and its wholly-owned subsidiary ReconTrust, a default management company.
Per the publication, the Utah Department of Commerce has no record of ReconTrust being registered as a business entity in Utah, and three corporate registration records for Bank of America companies are all listed as expired.
The judge issued a preliminary injunction on May 22 baring the companies from carrying out Trustee Sales until a determination is made as to whether they’re registered with the Utah Division of Corporations.
Of course, Bank of America has argued that it’s governed by federal laws and regulations, and not subject to state statutes, but they’ll need to prove that.
ReconTrust currently lists just under 1,000 foreclosures that it is pursuing in the state of Utah – roughly 22,000 homeowners have fallen behind on mortgage payments since mid-2008.
Mortgage Electronic Registration Systems (MERS), a mortgage data collection company based out of Reston, Virginia, which is listed as the foreclosing party on thousands of delinquent loans in Utah (on behalf of BofA and others), is also named as a defendant in the case.
If the order becomes permanent, Bank of America will be required to register in the state and open offices where distressed homeowners can negotiate with the mortgage lender face-to-face.
Bank of America is the largest loan servicer in the United States thanks to its acquisition of Countrywide back in 2008.
Source: thetruthaboutmortgage.com
Let’s talk about home prices again because there have been numerous reports of eroding affordability and fears that we might be topping out just five short years after hitting rock bottom.
For example, the National Association of Realtors recently noted that the median existing-home price in February was up 7.7% to $228,400 from a year earlier (February 2016: $212,100), the fastest pace since last January (8.1%).
It also marked the 60th consecutive month of year-over-year gains, which if you’re doing the math, is five full years of gains.
A month ago, NAR chief economist Lawrence Yun referred to the rapid price appreciation as “concerning” because it was doubling the pace of income growth.
Meanwhile, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index (I feel like this title needs to be longer) chalked a 5.9% annual gain in January, up from 5.7% a month earlier.
The index also hit a 31-month annual return high, which forced Managing Director and Chairman of the Index Committee David M. Blitzer to address affordability concerns.
He argued that while higher home prices and mortgage rates may dent affordability and reduce the number of households able to purchase homes, the lack of inventory and strength of the economy means we likely won’t see a change in direction just yet.
Blitzer did admit “at some point” market forces would drive prices down, but said, “we don’t appear to be there yet.”
I think everyone feels the same way, that prices are too darn high, it’s just that no one knows when prices will fall, or by how much. And what the catalyst might be, other than affordability or a lack of willing buyers.
Everyone is referring to the current situation as an inventory crisis, with many potential move-up buyers trapped thanks to limited equity and/or a low mortgage rate they don’t want to let go.
That further limits the supply of starter homes, keeping renters out of the market as they watch home prices creep higher and higher.
In fact, Trulia reported that national housing inventory hit its lowest level on record during the first three months of 2017. I believe their data only goes back to 2012 though.
Still, the recent numbers are troubling – starter and trade-up home inventory fell 8.7% and 7.9%, respectively, year-over-year. And there wasn’t much a year ago either…
Basically, this means the entire housing market ecosystem is out of whack, with no sign of relief anytime soon.
To add insult to injury, home prices might not even be that high, assuming you look at “real home prices,” those adjusted for inflation, wage growth, interest rates, etc.
The First American Real House Price Index (RHPI) measures single-family home prices after accounting for changes in incomes and interest rates.
They use median household income and mortgage rates to determine how much a particular consumer can afford. This allows them to measure house-buying power and in turn affordability.
What we wind up with is a very difficult picture than what you might see with other home price charts.
For example, real house prices are still 33.3% below their peak seen in July 2006, not that we should measure a healthy market based on that turbulent time. Still, it’s quite a margin.
Additionally, real home prices are 10.3% lower than they were in the year 2000.
Now can that all change in a hurry? Sure, and it is. In just the past year, real house prices surged by 8.2%.
If both mortgage rates and home prices continue to rise, we’ll hit another breaking point soon enough, assuming wage growth can’t keep up.
First American chief economist Mark Fleming noted that despite this, “affordability in most markets is still high by historical standards.”
As such, he expects another strong spring home buying season. Or at least lots of interest, despite a lack of inventory.
Source: thetruthaboutmortgage.com
You probably are well aware that you can swipe or tap your credit card almost anywhere you shop, and you likely also know that many retailers offer their own store credit cards. These store credit cards can give additional perks and benefits specific to their store.
Store credit cards come in two different forms — open-loop and closed-loop. An open-loop store credit card will typically have the logo of a payment network on it (such as Visa or Mastercard), and it can be used anywhere those networks are accepted.
A closed-loop store credit card, on the other hand, can generally only be used at the store that issued it. While there may be added benefits and rewards with a closed-loop store credit card, that may be offset by the limited places where you can use it. Still, it can make sense to have a store credit card, especially if you frequently shop at a particular retailer.
Here’s a closer look at how store cards compare to major credit cards, what their pros and cons are, and how store cards can impact credit.
A store credit card or retail credit card is a card issued by a store or retailer. There are two main types of store cards — open-loop and closed-loop store credit cards.
• An open-loop store credit card is likely a Visa or Mastercard that simply is co-branded with the retailer’s name and logo, but good to use anywhere those networks are accepted.
• A closed-loop store card, also called a private label credit card, can only be used at the retailer that issues the card.
Open-loop store credit cards are typically Mastercard or Visa credit cards, and they can be used anywhere those payment networks are accepted. While it may be marketed or branded with the retailer’s logo and name, an open-loop store card works the same way any other credit card works.
On the other hand, a closed-loop store card is only accepted at the store that issued the card. If you try to use a closed-loop store credit card at any other place, it will be declined.
With either kind of card, you’ll get a statement each month with the charges you’ve made. You’ll be charged interest on any outstanding balance, just like with a general-purpose credit card.
Recommended: Charge Card vs. Credit Card
One pro of store credit cards is that they often give perks and rewards that are specific to that particular store. If you frequently shop at a particular retailer, it can be lucrative to get their store credit card. You may also be able to get a signup bonus for applying and being approved for the card.
On the other hand, a store credit card can be limiting, especially if it is a closed-loop credit card that you can’t use anywhere else. Many store credit cards also come with higher-than-average interest rates, so it can be wise to pay off your balance in full each month so you can avoid paying any extra.
While there are some important differences between store cards and general-purpose credit cards, they also share some similarities.
• You get a monthly statement with a list of all of your purchases.
• You’ll be charged interest on any outstanding balance.
• Payment history and balance information typically reported to the major credit bureaus.
• Open-loop store credit cards and general-purpose credit cards can both be used anywhere the payment network (Visa, Mastercard) is accepted.
There are also some key differences between store cards and credit cards that you’ll want to be aware of:
• A closed-loop store card can only be used by the issuing retailer.
• You may pay a higher interest rate for a store card.
• The rewards you get will likely only be usable at the retailer.
Here is how these features stack up in chart form:
| Store Card | Credit Card | |
|---|---|---|
| Where they can be used | A closed-loop store card can only be used at the retailer who issues it | Anywhere the payment network (e.g. Visa or Mastercard) is accepted |
| Interest rate | Varies, but often higher than general-purpose credit cards | Varies depending on the card |
| Rewards | Usually limited to discounts or benefits at one particular store | May have more flexible credit card rewards or cash back. |
Recommended: How Many Credit Cards Should You Have?
How easy it will be to get any kind of credit card depends on the specific card and your own financial situation. However, it is generally believed that on average it is easier to get a store credit card than it is to get many other major credit cards.
In fact, at some stores, you may even be able to get approved in the middle of your transaction as you check out.
Yes, store cards can impact your credit, either positively or negatively, depending on how you use them. That’s true of all credit cards and is part of how they work.
Just like any credit card, your store card information is also reported to the major credit bureaus (Equifax, Experian, and TransUnion). That means that if you use your store card responsibly, you can help build your credit, while if you fall behind on payments and/or carry a balance, it might have a negative impact on your credit.
Deciding whether a store card or regular credit card is right for you will depend on your own specific shopping habits and overall financial situation. If you frequently shop at a particular store or retailer, you may be able to take advantage of rewards, discounts, or other benefits that come with the store’s credit card.
However, general-purpose credit cards may offer better or more flexible rewards, in addition to having more flexibility in where you can use them.
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Store credit cards come in two different varieties — open-loop and closed-loop cards. An open-loop store card is one that may be branded or marketed as a store credit card, but can be used anywhere the card’s payment network (e.g. Visa or Mastercard) is accepted. A closed-loop store card can only be used at the store or retailer that issues it. While there can be good reasons to get a store credit card, you might be better off with a more flexible credit card that gives cash back or other flexible rewards.
If you’re in the market for a general-purpose credit card that gives outstanding cash-back rewards, you should consider the SoFi Credit Card. With the SoFi Credit Card, you can earn cash back with every eligible purchase, which you can then use for travel or to invest, save, or pay down eligible SoFi debt. You can also add an authorized user to your SoFi credit card as a possible way to earn additional rewards.
Shop smarter with the SoFi Credit Card.
There isn’t a single right answer as to whether a credit card or a store card is better. Instead, it will depend on your own specific situation. If you are a frequent shopper at a particular store or retailer, it may make sense to open its store credit card and get those rewards. However, if you’re not especially loyal to certain stores, you might prefer to get a general-purpose credit card and earn rewards that way.
A store credit card can be considered a credit card since you can carry a balance and get charged interest. But keep in mind that only open-loop store credit cards can be used more widely like other major credit cards.
While it can make sense to apply for a store card, depending on your financial situation and shopping habits, store cards may come with some disadvantages. Many store credit cards have interest rates that are higher than average, so it can be best to pay off your balance in full each month to avoid those steep charges. Additionally, closed-loop store cards can only be used at the retailer that issues them, which makes them less flexible.
Photo credit: iStock/RgStudio
SoFi cardholders earn 2% unlimited cash back rewards when redeemed to save, invest, or pay down eligible SoFi debt. Cardholders earn 1% cash back rewards when redeemed for a statement credit.1
The SoFi Credit Card is issued by The Bank of Missouri (TBOM) (“Issuer”) pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
1See Rewards Details at SoFi.com/card/rewards.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
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Source: sofi.com
If you’re tight for space like we are, this Idea to Steal is for you! Throw out all of your preconceived notions about “putting things away” earmuffs, Mom! and take a moment to consider some simple ways to integrate clothing and accessories into your decor! Mind blown? Ours too.
This isn’t just about keeping clothing and accessories in plain sight although we love the look of that too!— it’s about using them as considered design elements to add interest to a space. Consistency and subtly are key here. It’s important to stick to a few signature pieces or one hanging garment for a simple, scandi-inspired look. The coehisve color palette and studied display also make this look feel intentional. A bonus? You no longer have to choose between fashion and decor! And that friends, is truly a win-win.
Do you have a favorite super-cool textured sweater tucked away in your closet, so pretty it deserves to be displayed? Maybe a sick bomber jacket?
Or a really bold necklace? What are some other fashion items you’d choose as decor?
Don’t miss the Idea to Steal archives HERE!!
image via A Merry Mishap
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Source: apartment34.com
Montana is known as The Treasure State for its literal on-site treasures, like silver, gold, sapphire and so on. But it’s a hidden gem for many more reasons than that. First, it’s home to some of the most stunning and unspoiled landscapes in the country. For the more practical renter, however, much of the state falls well below the national average in cost of living.
Affordable beauty? Yes, please! Here are some of the best places to live in Montana, and they’re about as wide and varied for a state that sports so much land.
Life in the southern Montana city of Bozeman splits the difference between big-city and rural living. As the fourth-largest city in the state, apartments in Bozeman can be found at a range of price points and styles.
Termed the “most livable place” in Montana, Bozeman has plenty to offer people of diverse interests. Obviously, its proximity to the legendary Yellowstone National Park begets its people access to all kinds of outdoor activities. That said, Bozeman has also cultivated impressive nightlife opportunities for a city its size, not to mention a booming cultural scene complete with art galleries, museums and a symphony.
Bozeman boasts a great selection of housing options, especially when it comes to luxury rentals like Icon Apartment Homes at Ferguson Farm, 19th and Graf and Madison Park, all of which feature up-to-date rentals with plenty of upgrades.
Billings is far and away the most populated city in Montana by tens of thousands of people. Living in Billings is obviously more affordable than in Bozeman, a welcome revelation for the renter looking for a good value. Also found on the southern end of the state, Billings keeps its local population entertained via a spate of events, such as the Yellowstone International Air Shot, MontanaFair and the Magic City Blues Festival, among others. There are also plenty of spas and such to help a local relax following a tough day hiking the trails or climbing rock faces.
There are plenty of apartment options in Billings, from a furnished studio at Billings-West End to one of the more spacious options at Interurban Apartment Homes or Farmstead Apartments.
Life in Butte is a picturesque one, as the smaller city is found right between Glacier National Park and Yellowstone National Park. It features some of the best fishing and boating opportunities in the world, not to mention more than a dozen scenic trailheads for hiking, jogging and biking.
Butte’s restaurant scene is larger and more diverse than one would expect from a city its size, including a variety of chain spots mixed in with locally owned and operated eateries. The film industry is also alive and well in Butte as more and more television shows and movies are choosing to set up shop there.
Butte’s apartment scene is a bit more limited than some of the larger Montana cities, but there are still plenty of places to lay your head. This three-bedroom unit has clearly been renovated recently, and this spacious two-bedroom apartment rents for far less per month than the same type of unit would in another city.
The capital city of Montana is small but mighty. It’s similar in both population and price point to Butte, making it ideal for people who want some neighbors, but not too many.
It’s one of the historic centerpieces of the state and has a lot of attractions to prove it. The lovingly maintained downtown area has a colorful history, best told by any of the walking tour experts available for hire. Then there’s the stunning Mansion District, which is an experience all on its own. Just north of the city are the significant “Gates of the Mountains,” a stop on Lewis and Clark’s historic exploration route, which can be viewed via boat tour. That’s all in addition to the locally owned shopping, dining and other establishments that have become the norm for quaint towns like this one.
Apartments in Helena are available at all price points, including the ideally located Element 79 Apartments, which is close to so many coffee shops and restaurants. Or, there are plenty of units within larger houses to look at. Inventory is lower given the size of the city, but the patient renter can find something to suit and prove the wait worthwhile.
Living in Great Falls doesn’t require as much in the bank compared with some other Montana cities, as the median home price is lower to match a slightly lower median income. So named for the stunning waterfalls, courtesy of the Missouri River, the area is home to the state’s largest urban Native American population and is also the site of the Little Shell Chippewa tribe’s headquarters.
Indeed, Great Falls, like many other areas of the country, has a sad history related to Native Americans, but today’s citizens do their best to preserve the complicated history and encourage the traditions to continue. Locals appreciate the four distinct seasons that the area enjoys, with cold winters but delightfully mild summertime temps. It’s easy to stay busy year-round with tons of scenic drives, trailheads, outdoor activities and festivals to choose from.
Much like other cities in Montana, there aren’t a ton of huge apartment communities to choose from. One good traditional option is Talus Apartments, which has multiple floor plans and a lot of the standard amenities that renters have come to expect. Or, there are furnished units available at Sunnyside Apartments.
Just east of the Idaho border on Montana’s western edge is Missoula, a mid-sized city with big aspirations. Buying a home in Missoula is a pricier prospect than it is in a lot of other parts of the state, with a median home price of $542,000.
It’s not as pricey as Bozeman, but it’s nipping at its heels. Fortunately, there are lots of other reasons people choose to live in Missoula. First, it’s still pretty affordable to rent an apartment in Missoula. It’s also a generally fun and whimsical place to hang out. Shoppers and fans of local goods love to bundle up and hit Missoula’s Winter Market, held at the Fairgrounds. Then there are plenty of hot springs to soak in, gold and gems to mine and even ghost towns to tour.
812 Toole Ave sometimes has chic units available for rent, and 712 Spruce St also has apartment options at a range of price points. Once again, availability is a bit limited as Missoula is far from what people would refer to as the “big city.”
Unlike many other cities on our list, the city of Kalispell is located in the northwestern corner of the state. Only 32 miles from Glacier National Park, this mountain town is also home to the western U.S.’s largest natural freshwater lake, Lake Flathead. Obviously, between the two there is an abundance of outdoor activities to enjoy in Kalispell and its stunning surrounding areas.
Locals and visitors also love to stroll the quaint area of downtown Kalispell for food, shopping and general ambiance. The area is also ultra-friendly to dogs and families, thanks to an abundance of parks and recreation opportunities.
For a city its size, Kalispell actually has a nice range of apartment homes to consider. The Meridian Apartments is a pet-friendly, smoke-free establishment that features beautiful in-unit flooring. Or there’s Stillwater Crossing, which offers covered carports, video monitoring and lots of design upgrades.
The housing market is booming in the city of Whitefish, which has a median home price of $913,000, up more than 30 percent since last year. Situated around Whitefish Lake, this city is a popular ski destination but sees tourism year-round thanks to its proximity to Glacier National Park.
For all of the athletic endeavors that can be enjoyed here, there’s also an exceptional arts and culture scene. The Whitefish Theatre Company puts on shows regularly ranging from plays to musicals. Boating enthusiasts in particular flock to the area’s Whitefish Woody Weekend, specifically put on to showcase classic boats. So although Whitefish boasts some of the best skiing in the world, it also has a lot of other things going for it.
Fortunately, apartment rents in Whitefish haven’t inflated the same way as local real estate has. The new construction units at Whitefish Apartment Homes are pristine and ideally located. Or there are a number of individual units available for rent, like this one on Cottonwood Ct.
Only slightly larger than Whitefish is the southwestern Montana city of Anaconda. Known for its iconic smokestack, the city of Anaconda is one of Montana’s best-kept secrets. Originally, Anaconda grew as a result of copper mining in nearby Butte, as Anaconda became the site of critical copper smelting jobs.
Like most of the rest of the state, Anaconda is firmly ensconced in some serious natural beauty. It’s found in the Deer Lodge National Forest, so there’s obviously plenty of outdoor fun to be had. A bit of modern sport is also available at the Old Works Golf Course, however.
Anaconda’s a pretty small city by most people’s standards, so rental options are somewhat limited. There are single units available if you know where to look, such as this one on 4th Street and this one on Locust Street.
Montana is thoroughly its own state, thanks to its unique beauty and culture. Anyone who’s interested in adopting a quieter, but still exciting way of life should consider looking at apartments for rent in Montana.
The rent information included in this summary is based on a median calculation of multifamily rental property inventory on Apartment Guide and Rent.com as of April 2023.
Median home prices are from Redfin as of April 2023. Population and median household income are from the U.S. Census Bureau.
The information in this article is for illustrative purposes only. This data herein does not constitute a pricing guarantee or financial advice related to the rental market.
Source: rent.com
Mortgage rates are holding steady so far this week. It’s no surprise, really, as there’s been very little meaningful economic data out these past two days.
Tomorrow, though, we get a few notable releases so there’s definitely the chance that we’ll get a market reaction.
Long-term rates are still expected to rise, which is why we’re recommending that borrowers lock in a rate soon. Read on for more details.
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Market Outlook 5.21.18 from Total Mortgage on Vimeo.
There’s not much economic data out, keeping market movement fairly muted today. The yield on the 10-year Treasury note, which is the best market indicator of where mortgage rates are going, is flat on the day at 3.06%.
That’s very close to the seven year high that it briefly hit on Thursday. Depending on who you talk to, there’s plenty of room left to run for the 10-year yield.
With the Federal Reserve getting ready to raise the nation’s benchmark interest rate, the federal funds rate, at least two more times in 2018, some analysts are saying the 10-year yield could easily hit 4.00%.
With mortgage rates closely tied to the bond market, that would put significant upward pressure on rates.
This isn’t anything new to anyone who’s been paying attention to the market this year; back in January we had many projections for the 30-year fixed rate to go as high as 5.00% by the time 2019 rolls around.
In the Freddie Mac Primary Mortgage Market Survey last week we saw the average rate on a 30-year fixed rate move up to 4.61%. That’s up sixty-six basis points from the start of the year.
We’ve still got another thirty-nine basis points to climb before 5.00%, but that could easily be covered over the next seven months.
With mortgage rates on track to climb higher and high over the coming weeks and months, we believe that it makes sense to lock in a rate on a purchase or refinance sooner rather than later.
The Richmond Fed Index hit a 16 in May. That’s a strong reading that is right on the brink of escaping the high end projection.
*Terms and conditions apply.
Source: totalmortgage.com
As much as we love good design, we swoon over a good love story. So you can imagine why we’re obsessed when great design has the cutest romance attached to it. That’s exactly what’s going on with Mr. & Mrs. White, designed by a young couple out of Sydney who came together and discovered that their passion was not only for one another, but also for “simple, honest handmade design and the natural beauty of the material.”
Isn’t this collection to die for? The clean lines of the furniture – made with gorgeous american oak – juxtaposed with the softness of the killer Icelandic hides, the leather pillows want! and supple linen textiles create the balance we so crave in our home. Too often decor leans either heavily masculine or overly feminine is anyone else sick of acryllic everything???. But if you’re looking to find a sweet spot – we’d argue this is it. A little him paired with a little her is so right!
Ok, now we’re in love with you too Mr & Mrs. White.
images via Mr. & Mrs. White
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Source: apartment34.com
Moving to a new place can be pretty scary for anyone, but it’s especially intimidating if you aren’t welcomed with open arms. This happens all too often, despite the fact that immigrants and migrants from other states are vital components of any area’s economic and social well-being.
In fact, they actually make up a significant portion of the workforce, and cities with higher immigrant populations tend to experience greater economic growth than other areas. Immigrants also help to offset population decline, which heads off economic disasters. Plus, they readily invest in their new area by opening businesses and thus creating jobs. In short, immigrants tend to show up and take care of business.
The Bush Institute-SMU Economic Growth Initiative recently ranked cities based on how welcoming they are to newcomers. The outfit says that certain cities, like those that are “knowledge-centric,” are the best options. This includes cities renowned for their technology or finance industries — and college towns where education and forward-thinking are paramount.
Many such cities offer a lot of opportunities compared to where a person comes from, thanks to their economic and professional profile. So a city with a higher opportunity score is likely to provide the chance at a higher quality of life than some others. Now, let’s dissect this data, figure out what comprises a higher life quality and reveal these cities in all of their hospitable glory.
The first entry in the top 10 most welcoming cities in the U.S. is State College, Pennsylvania, the appropriately named home to Penn State University. From the period 2010-2021, the city saw an ever-so-slight decline in domestic migration’s contribution to population growth in the area (minus 3 percent), but experienced an uptick of 6 percent related to immigration.
With an overall population of just over 157,000, State College is one of the smallest on our list, but the numbers are hardly what you would call irrelevant. In fact, the opportunity score in State College is one of the highest on our list, at 117 percent, meaning that newcomers average greater quality of life/opportunity by 17 percent compared with their parents. Some of the influx of immigrants to this area is due to the fact that more than 11,000 students from various countries head to Penn State for its varied educational opportunities.
Both domestic migration and immigration contributed to the population in the Orlando-Kissimmee-Sanford, Florida metro area, at basically the same rate of 9 percent! With a total population of nearly 2.7 million, this area is the third-largest on our list, which translates to big numbers, in terms of newcomers to the area. The opportunity score is slightly lower than that of State College, at 92 percent, however, it’s mitigated by the area’s reputation for being friendly to newcomers!
The draw is likely due to a preponderance of jobs thanks in part to the state’s booming tourism industry, but also the fact that central Florida already has a lot of immigrants makes it appealing to newbies. This section of Florida is a well-oiled machine for welcoming newcomers, and it translates into more and more each year.
Not so far away from the OG immigrant spot, Plymouth Rock is the metro area of Boston/Cambridge/Newton, which spans parts of Massachusetts and New Hampshire. Immigration to the area went up by 7 percent, although domestic migration took a dip of minus 4 percent.
The metro’s population totals 4.9 million, making even tiny immigration upticks extremely significant. These days, most immigrants to the area come from China, the Dominican Republic and Haiti, the City of Boston says, and are likely lured there by its opportunity score of 117 percent. They most often matriculate into jobs that are blue-collar (construction, production, repair, natural resources) or within the service industry. As these are all very important to growth, the immigrant population is filling a lot of important roles.
Moving back to sunny Florida, the metro of Naples-Marco Island, Florida is considered another particularly hospitable area to newcomers. Found near the southern end of the state outside of Miami, many of these newbies are important to the local agriculture scene and are drawn to the area by such jobs. They’re also critical to recovery from all-too-frequent hurricanes that hit the area, which necessitate skilled hands at construction and other trade jobs.
Domestic migration actually contributed more to population growth here than anywhere else on our list (up 18 percent!) and immigration was also higher by 7 percent. The opportunity score hovers at 101 percent.
The next metro area on our list could not be any more different from Naples if it tried, weather-wise. The far northern area of Fargo, North Dakota/Minnesota is especially dependent on immigrants to fill important positions within both the manufacturing and production industries, although many also work in sales and healthcare positions.
Many relocate to the chilly, but friendly area from the Philippines, in particular. Domestic migrants to the area were up by 7 percent, while immigrants were also higher by 4 percent. The opportunity score of 133 percent is one of the best on our list, meaning that someone who moves to this area can experience 33 percent worth of improvement in opportunity compared with where they came from.
Although domestic migration to the Miami/Fort Lauderdale/Pompano Beach area of Florida has declined by five percent in recent years, immigration is up quite a bit at 12 percent the highest uptick on our list). With nearly 6.1 million residents in this metro area, that translates to quite a few newcomers.
Miami has indeed turned into a hotbed of opportunity for Latines, in particular, as they frequently hold STEM positions and 73 percent of local businesses are owned by immigrants. They are also attending local colleges and universities and contribute tremendously to the local economy as consumers.
The lone West Coast metro on our list, the area of San Jose-Sunnyvale-Santa Clara, California has experienced a decline in domestic migration of minus 11 percent, but an increase in immigration of eight percent. Asian-born immigrants make up a significant portion of this population, although it certainly sees plenty of Latine newcomers, as well.
Many flock to the area for the tech opportunities it is known for, as well as the excellent school systems for their children. However, the ever-rising cost of living in California is making it difficult for many to stay in the area. That said, the opportunity is so rich in the area that the typical person enjoys 23 percent greater opportunity (score of 123 overall).
Moving back over to the Midwest, Iowa City, Iowa is considered the third most welcoming city in America. Perhaps this is because the area has a reputation for welcoming immigrants historically. Whatever the reason, the city/state regularly takes in people fleeing natural disasters or devastating conflicts in their home countries, including those from Ethiopia and Bosnia. There’s also a strong contingent of Hispanics who come to the area looking for professional opportunities.
Both domestic migration (1 percent) and immigration to the area (7 percent) have increased in recent years, continuing this region’s longstanding reputation as one that welcomes others with open arms. Much like San Jose, the opportunity score in this area is 123 percent.
The central Minnesota city of St. Cloud is runner-up as the most welcoming city in America. Immigration to the metro is up by 4 percent, however, domestic migration declined in the same time period by three percent. St. Cloud boasts the highest opportunity score on our list at 145 percent, meaning that people can earn and live at a better quality by nearly 50 percent compared the previous generation.
Immigrants to the area tend to come from East African countries like Somalia, however, people from Kenya, Vietnam, Mexico and Korea also make up significant portions of the newcomer population. They contribute to the local economy by filling major gaps in the employment force, but also by paying taxes and contributing to Social Security.
The smallest city on our list is also the most welcoming of them all. Slightly north of Des Moines is the unassuming metro of Ames, Iowa, with a population of just over 126,000 people.
Domestic migration is down slightly there, however, immigration is on the rise at 7 percent. This Iowa city is known as a safe haven for people seeking asylum from the dangers of their homeland. Many newcomers hail from Ukraine, Honduras and the particularly war-torn parts of Africa.
The community is very much a part of this effort, as volunteers with the Ames Interfaith Refugee Alliance advocate for refugees and help them acclimate to the area upon arrival. They also aim (pun intended) to educate people about immigration and the positive impact they can have on a given area. It also doesn’t hurt that the cost of living in Iowa is way below the national average and that the opportunity score is an impressive 132 percent.
Obviously, there are still many kinks to work out related to the often difficult immigration process. That said, it’s good to know that some cities are doing their best to make it a positive experience for everyone hoping to breathe free in a new land.
Source: rent.com