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Today’s average mortgage rates


Today’s average mortgage rates on Apr. 08, 2024, compared with one week ago. We use rate data collected by Bankrate as reported by lenders across the US.

Current mortgage rates

If you’re in the market for a home, here are today’s mortgage rates compared to last week’s.

Product Rate Last week Change
30-year fixed 6.91% 6.91% -0.00
15-year fixed 6.36% 6.42% -0.06
10-year fixed 6.27% 6.38% -0.10
5/1 ARM 6.61% 6.63% -0.02
30-year jumbo mortgage rate 7.00% 7.02% -0.02
30-year mortgage refinance rate 6.96% 6.92% +0.04

Average rates offered by lenders nationwide as of April 3, 2024. We use rates collected by Bankrate to track daily mortgage rate trends.

Mortgage rates change every day. Experts recommend shopping around to make sure you’re getting the lowest rate. By entering your information below, you can get a custom quote from one of CNET’s partner lenders.

About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.

Mortgage rate news

Over the last few years, high inflation and the Federal Reserve’s aggressive interest rate hikes pushed up mortgage rates from their record lows around the pandemic. Since last summer, the Fed has consistently kept the federal funds rate at 5.25% to 5.5%. Though the central bank doesn’t directly set the rates for mortgages, a high federal funds rate makes borrowing more expensive, including for home loans.

Mortgage rates change daily, but average rates have been moving between 6.5% and 7.5% since late last fall. Today’s homebuyers have less room in their budget to afford the cost of a home due to elevated mortgage rates and steep home prices. Limited housing inventory and low wage growth are also contributing to the affordability crisis and keeping mortgage demand down.

Mortgage predictions for 2024

Mortgage forecasters base their projections on different data, but most housing market experts predict rates will move toward 6% by the end of 2024. Ultimately, a more affordable mortgage market will depend on how quickly the Fed begins cutting interest rates. Most economists predict that the Fed will start lowering interest rates later this summer.

Since mortgage rates fluctuate for many reasons — supply, demand, inflation, monetary policy and jobs data — homebuyers won’t see lower rates overnight, and it’s unlikely they’ll find rates in the 2% range again.

“We are expecting mortgage rates to fall to around 6.5% by the end of this year, but there’s still a lot of volatility I think we might see,” said Daryl Fairweather, chief economist at Redfin.

Every month brings a new set of inflation and labor data that can change how investors and the market respond and what direction mortgage rates go, said Odeta Kushi, deputy chief economist at First American Financial Corporation. “Ongoing inflation deceleration, a slowing economy and even geopolitical uncertainty can contribute to lower mortgage rates. On the other hand, data that signals upside risk to inflation may result in higher rates,” Kushi said.

Here’s a look at where some major housing authorities expect average mortgage rates to land.

Mortgage terms and types

When picking a mortgage, consider the loan term, or payment schedule. The most common mortgage terms are 15 and 30 years, although 10-, 20- and 40-year mortgages also exist. You’ll also need to choose between a fixed-rate mortgage, where the interest rate is set for the duration of the loan, and an adjustable-rate mortgage. With an adjustable-rate mortgage, the interest rate is only fixed for a certain amount of time (commonly five, seven or 10 years), after which the rate adjusts annually based on the market’s current interest rate. Fixed-rate mortgages offer more stability and are a better option if you plan to live in a home in the long term, but adjustable-rate mortgages may offer lower interest rates upfront.

30-year fixed-rate mortgages

The average interest rate for a standard 30-year fixed mortgage is 6.91%, which is a decline of 0 basis point compared to one week ago. (A basis point is equivalent to 0.01%.) A 30-year fixed mortgage is the most common loan term. It will often have a higher interest rate than a 15-year mortgage, but you’ll have a lower monthly payment.

15-year fixed-rate mortgages

The average rate for a 15-year, fixed mortgage is 6.36%, which is a decrease of 6 basis points from seven days ago. Though you’ll have a bigger monthly payment than a 30-year fixed mortgage, a 15-year loan usually comes with a lower interest rate, allowing you to pay less interest in the long run and pay off your mortgage sooner.

5/1 adjustable-rate mortgages

A 5/1 ARM has an average rate of 6.61%, a decrease of 2 basis points compared to a week ago. You’ll typically get a lower introductory interest rate with a 5/1 ARM in the first five years of the mortgage. But you could pay more after that period, depending on how the rate adjusts annually. If you plan to sell or refinance your house within five years, an ARM could be a good option.

What factors affect mortgage rates?

While it’s important to monitor mortgage rates if you’re shopping for a home, remember that no one has a crystal ball. It’s impossible to time the mortgage market, and rates will always have some level of volatility because so many factors are at play.

“Mortgage rates tend to follow long-date Treasury yields, a function of current inflation and economic growth as well as expectations about future economic conditions,” says Orphe Divounguy, senior macroeconomist at Zillow Home Loans.

Here are the factors that influence the average rates on home loans.

  • Federal Reserve monetary policy: The nation’s central bank doesn’t set interest rates, but when it adjusts the federal funds rate, mortgages tend to go in the same direction.
  • Inflation: Mortgage rates tend to increase during high inflation. Lenders usually set higher interest rates on loans to compensate for the loss of purchasing power.
  • The bond market: Mortgage lenders often use long-term bond yields, like the 10-Year Treasury, as a benchmark to set interest rates on home loans. When yields rise, mortgage rates typically increase.
  • Geopolitical events: World events, such as elections, pandemics or economic crises, can also affect home loan rates, particularly when global financial markets face uncertainty.
  • Other economic factors: The bond market, employment data, investor confidence and housing market trends, such as supply and demand, can also affect the direction of mortgage rates.

Calculate your monthly mortgage payment

Getting a mortgage should always depend on your financial situation and long-term goals. The most important thing is to make a budget and try to stay within your means. CNET’s mortgage calculator below can help homebuyers prepare for monthly mortgage payments.

How to find the best mortgage rates

Though mortgage rates and home prices are high, the housing market won’t be unaffordable forever. It’s always a good time to save for a down payment and improve your credit score to help you secure a competitive mortgage rate when the time is right.

  1. Save for a bigger down payment: Though a 20% down payment isn’t required, a larger upfront payment means taking out a smaller mortgage, which will help you save in interest.
  2. Boost your credit score: You can qualify for a conventional mortgage with a 620 credit score, but a higher score of at least 740 will get you better rates.
  3. Pay off debt: Experts recommend a debt-to-income ratio of 36% or less to help you qualify for the best rates. Not carrying other debt will put you in a better position to handle your monthly payments.
  4. Research loans and assistance: Government-sponsored loans have more flexible borrowing requirements than conventional loans. Some government-sponsored or private programs can also help with your down payment and closing costs.
  5. Shop around for lenders: Researching and comparing multiple loan offers from different lenders can help you secure the lowest mortgage rate for your situation.

Source: cnet.com

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Mortgage rates could fluctuate this spring, experts say, but it could take a while for rate cuts to happen.

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Mortgage rates fell to low levels during the pandemic, dropping below 3% as real estate prices soared. But subsequent issues with inflation ultimately caused the Federal Reserve to raise its benchmark interest rate, which led consumer interest rates to climb over time. In turn, today’s average 30-year mortgage rate is much higher than it was during the pandemic at 6.88% (as of April 1, 2024).

Meanwhile, home prices have continued to climb and issues with low inventory are still common in many markets. Against this backdrop, many prospective homebuyers are watching and waiting to see if mortgage rates fall, which could help make homebuying more affordable overall. But what do experts think could happen with mortgage rates this spring? Here’s what you should know.

Compare the best mortgage rates available to you today.

Will mortgage rates fall this spring? Here’s what the experts think.

Many experts expect that mortgage rates won’t experience many, if any, drops this spring. Rather, experts expect that rate cuts could happen in the second half of the year instead. 

Why mortgage rates might not budge much this spring

While mortgage rates don’t exactly depend on the Fed’s rate decisions, the Fed does have a big influence on the direction they take. And until issues with persistent inflation show more signs of easing, mortgage rates might not drop much.

“While we’re all eager for mortgage rates to head south this spring, I’m inclined to think it’s unlikely, especially with the Federal Reserve maintaining its ‘hold and observe’ strategy for now,” says Matt Dunbar, SVP of Southeast Region at Churchill Mortgage. “Despite their recent communications regarding future rate cuts, expecting a substantial drop in mortgage rates in the short term might be overly optimistic.”

That said, mortgage rates could start to fall toward the end of the spring, given the Fed’s meeting schedule.

“I don’t expect mortgage rates to fall until around the June 12th Fed meeting. The Fed isn’t expected to cut rates during their May meeting, which means any real drop in interest rates would not happen until late spring/early summer at the earliest,” says Will Matheson, co-founder and managing partner at Matheson Capital.

Even then, the initial Fed rate cut is expected to be 25 basis points, so that might not have a dramatic effect on mortgage interest rates.

“I expect rates to start falling during the second half of this year, when the Fed is projected to start cutting rates. By the end of the year, I expect mortgage rates to be down by 0.75-1.00 percentage points,” says Matheson.

Explore your top mortgage loan options online now.

Expect ebbs and flows

Although the Fed isn’t expected to cut rates until at least June, mortgage rates could fluctuate up or down before then, based on the available data. However, buyers might not want to draw too many conclusions from these fluctuations.

“I don’t think mortgage rates are going to fall significantly this spring. Sure, we’ve seen some rates fall over the past few days, but mortgage rates tend to ebb and flow, and I don’t think we’re at a steady decline yet,” says Seamus Nally, CEO of TurboTenant.

“All signs point to rates dropping by the end of the year though, likely somewhere around 6%. Everyone is expecting the Federal Reserve to cut the benchmark interest rate in the latter half of the year, and once that happens, that is when I expect mortgage rates to start making a solid decline,” he adds.

Keep an eye on the data

While small fluctuations in mortgage rates might not indicate much, the mortgage market could get a head start before the Fed cuts interest rates. However, that depends on what data comes in.

“Based on incoming economic and CPI data, we could see some easing into the mid-to-low sixes, though surprises in data could potentially nudge rates in the opposite direction,” says Dunbar.

After the spring season ends, what happens with mortgage rates will again depend on how the economy’s doing and how the Fed interprets economic data. 

“In the future, whether rates might drop depends largely on how the Federal Reserve perceives the economy’s progress toward its inflation and growth targets,” says Dunbar. 

The bottom line

Overall, expert mortgage rate predictions typically don’t expect there to be much of a reduction in mortgage rates this spring, but perhaps a larger drop will happen later this year. But it’s worth noting that because much remains uncertain, it’s tough to get the market timing right. In turn, homebuyers might want to focus on getting the best deal on a home that fits their needs rather than trying to time the mortgage market. And if you do decide to buy a home now, there may be ways to get a lower mortgage rate, such as improving your credit score, putting down a larger down payment or getting seller concessions.

Source: cbsnews.com

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Buying a home can be exciting, exhausting and, no matter how smoothly the process may go, one of the most stressful things you can do in life. Not having enough money to adequately finance a purchase makes it all the more daunting. Fortunately, there are first-time homebuyer programs available in every state, making it easier for many people to access the resources they need to buy their new home, and to feel more secure through the whole process.

Keep in mind that first-time homebuyers don’t actually have to be buying their first home. A first-time homebuyer is defined as anyone who hasn’t had an ownership interest in a primary home in the past three years.

The U.S. Department of Housing and Urban Development (HUD) also includes in its list of qualified homebuyers:

•   A single parent who has only owned a home with a partner while married

•   A displaced homemaker who has only owned a home with a spouse

•   Someone who has owned a principal residence not permanently affixed to a permanent foundation

•   Someone who has only owned a property that wasn’t in compliance with state, local, or model building codes

Here are the homebuyer programs that qualified first-time buyers have available to them in the Northeast:

Maine

Thinking of buying a home in the land of lobster and lighthouses? You’ll want to learn about the market and assess your financial situation before you start searching for a home mortgage loan. (A guide to the different types of mortgage loans can help.)

The scoop on the Main market: Prices in the Pine Tree State were up 5.7% in February 2024 when compared to the prior year, with homes selling for a median of $360,200, according to Redfin. The three most competitive cities for homebuyers were Standish, South Berwich, and Gray.

💡 Learn about Maine first-time homebuyer programs

New Hampshire

The housing market in the Granite State is hot. From February 2023 to February 2024, home prices rose 12.5% to an average sale price of $447,400, according to Redfin. And 41.8% of the homes sold above their list price. Still, there are good opportunities for the first-time buyer in the state, and there are first-time homebuyer assistance programs to help you reach your homeowning goal.

💡 Learn about New Hampshire first-time homebuyer programs

Vermont

The Green Mountain State is paradise for outdoorsy types with forests, lakes, and mountains. No wonder then that the housing market has heated up: The number of homes sold increased 14.2% between February 2023 and 2024. Prices were up 6.5% as well, according to Redfin.

Homebuyers may need help to afford a home with the median price here hitting $361,300. Fortunately, the state has several programs to offer.

💡 Learn about Vermont first-time homebuyer programs

Massachusetts

Glorious New England scenery, a rich history, and diverse cultural and educational opportunities are just some of the things Massachusetts has to offer residents. It’s no wonder that home prices here outpace the national average, or that they are rising. Prices in Massachusetts were up 9.9% in the year ending February 2024, Redfin reports. The median sale price in the state is now $576,900.

At the same time, the median number of days a home stays on the market has dropped by 5 year-over-year, an indicator that the market is warming. Still, there are plenty of opportunities for the first-time homebuyer in Massachusetts.

💡 Learn about Massachusetts first-time homebuyer programs

Rhode Island

This small state is big on charm: Rhode Island’s miles of coastline offer beautiful beaches and picturesque inlets, and you’ll also find dynamic cities and rural small towns here. There’s a lot for the first-time homebuyer in Rhode Island to get excited about. But prices here are well above the national average of $342,941. The average property value is $438,711, up 8.3% year over year, according to Zillow. Wondering what a down payment would look like on a given property price? Use a mortgage down payment calculator to do the math.

💡 Learn about Rhode Island first-time homebuyer programs

Connecticut

You’re looking at a competitive market in the Constitution State: In February 2024, home prices in Connecticut were up 13.2% year-over-year. The median price of a Nutmeg State home is $375,300, according to Redfin, and the number of days a property stays on the market is declining. Fortunately you can still find affordable homes in Torrington and New Britain, among other affordable places in Connecticut.

💡 Learn about Connecticut first-time homebuyer programs

New York

The housing market in New York state can be challenging, especially for first-time buyers. Home prices in the Empire State in January 2024 were up 6.3% over the prior year, with a median sale price of $518,800. The number of days on the market dropped as well. A stunning 37% of homes sold above their listing price.

💡 Learn about New York first-time homebuyer programs

New Jersey

The Garden State saw record real estate sales in some areas in recent years as city dwellers fled to the suburbs. In the year ending February 2024, home prices in New Jersey were up 14.5% over the prior year, and the median sales price was $479,100. The median days on the market dropped 15 year-over-year to 46. Buyers in New Jersey need to prepare themselves to compete in this market.

💡 Learn about New Jersey first-time homebuyer programs

Pennsylvania

Thinking of buying a home in Pennsylvania? Prices rose 6.6% from January 2023 to January 2024, to a median of $264,700, Redfin reported. It’s a seller’s market here, so you may have to compete to get the home you want, especially in cities like New Castle (home prices were up more than 31% in a year) and Mechanicsburg (up 55.5%). Harrisburg and Lancaster ranked as some of the best affordable places to live in Pennsylvania.

💡 Learn about Pennsylvania first-time homebuyer programs

The Takeaway

Qualifying first-time homebuyers have many options available to them in the Northeast, including down payment assistance. If you’re looking to buy your first home and aren’t sure how to get started, researching homebuyer programs is a great place to start. Once you know what kind of assistance you may qualify for, it’s a good idea to estimate just how much house you can really afford using a home affordability calculator.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% – 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It’s online, with access to one-on-one help.

SoFi Mortgages: simple, smart, and so affordable.

*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

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Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.

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.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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Source: sofi.com

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Last April, when Bed Bath & Beyond held its store-closing sales after declaring bankruptcy, I popped into one of its Manhattan locations and found the shelves almost completely stripped of inventory, snagged by earlier shoppers who’d been quicker to the liquidation bargains. Dwell’s senior home guides editor Megan’s experience at another Manhattan location, though, seemed slightly less chaotic, and even in small but not insignificant ways gratifying. So last week, when Dwell’s managing editor Jack Balderrama Morley dropped a tweet in a team Slack channel pointing out the “crazy sales” at another major retailer, Joann, which on March 18 announced it filed for bankruptcy, and said: “Maybe a writer wants to go and see what home design can be pulled out of a dying store?” I bravely volunteered. Most of the online reactions I’d seen to Joann’s bankruptcy were more focused on corporate details than implications for crafters, but I assumed the news would circulate widely enough in at least some corners of TikTok’s DIY universe that the sales would generate a fairly quick clean out.

To be clear, my putting myself forward is only notable because from where I live in Manhattan, a trip to the craft store—or any department store, really—is a vastly different experience than in the suburbs. The Hudson, Ohio-based chain, which has operated for more than 80 years, has roughly 800 stores nationwide (all of which the company said will continue to operate as it restructures its finances). But none of those stores are in Manhattan, or even Brooklyn. Long Island has three locations, and there’s one in Scarsdale, about an hour’s drive north of my apartment (closer to Connecticut in actuality). Across the Hudson, there’s a Joann store in Paramus, New Jersey. Depending on the time of day, the drive is anywhere between 30 and 50 minutes.

My girlfriend and I have a Zipcar membership that we use almost solely for the purpose of completing another task that’s a vastly different experience when you live in New York City: grocery shopping. Every other month or so, we go to a Trader Joe’s outside of the city to stock up on groceries that we can drive home, not carry. We were due for another Big Shop and had also been talking about crafting over the weekend, since the forecast was gross and rainy. In Paramus, there’s a Trader Joe’s all but three minutes from Joann. So Paramus it was. We were making a Saturday of it.

Ohio-based crafts retailer Joann announced it filed for bankruptcy on March 18, but the company said its roughly 800 nationwide stores will continue to operate as it restructures its finances—and right now, the sales are aplenty.

The arts-and-crafts store, formerly known as Jo-Ann Fabrics, was a big part of my childhood. (Full disclosure: I was blissfully unaware of the 2018 rebrand and had been using the former moniker up until I learned about the recent bankruptcy filing, and am still having a tough time adjusting to the name change, in true millennial fashion.) In the early 2000s, the Jo(-)ann (Fabrics)(!) on the side of Highway 101 in Corte Madera, California, was where I bought fabric for weekly sewing classes with Winky Cherry (I’m serious), a kids’ sewing teacher and author, I’m just learning, who taught out of a downstairs room in her home. It’s where I found felt and appliqués for the DIY poodle skirts I wore to school sock hops. It’s also where I found the fabric, pom-poms, and ribbons I tasked my adult neighbor, whose children I babysat, with fashioning into a jester costume for me one Halloween; one side had blue fabric with a moon pattern, the other a maroon background with suns. There were elastic cinches at the wrists and ankles that created frilly cuffs. In retrospect, it was quite a vision for my young mind to conceive of, but stylistically…misguided.

Before last weekend, I hadn’t been back to one of the stores since that time in my childhood. One of Joann’s competitors, Michael’s, has locations in Brooklyn and Manhattan, and I sadly did not retain any sewing skills from Winky Cherry’s classes, so these days the selection there or at Blick Art Materials—of which there are many in New York City—does the trick for my occasional craft projects. I was expecting the scene to be somewhat depressing: sparse aisles stocked with the same art supplies you can now order to your front door on Amazon, piles of worse for wear fabric collecting dust, and nary a shopper born after the turn of the millennium (and that’s being generous). The latter, from my observation, was true, but other parts surprised me.

The clearance sale shelves at the front of the store, marked 25 percent off, were haphazardly stocked as though either winds of eager customers had already blown through them, spoiling any prior display order, or the employees had simply gathered items from other aisles—a partially unwound yarn bundle, decorative stickers, children’s trinkets, and, unexplainably, a pack of popcorn seasoning, and quickly dumped them in this section, knowing any real organization efforts wouldn’t be worth their while.

In addition to the 25 percent markdowns on the storewide clearance sale shelves, deals in other Joann sections included 50 to 70 percent off fine art canvases. We bought a pack of 8×10 canvases for $7.99 and two 5×5 canvases for $3.49 each.

We set ourselves a $200 budget, keeping in mind a few DIY projects we discussed prior, and knowing that we like to keep a stock of craft supplies for impromptu projects, so this sale would be as good a time as ever to spend somewhat freely. First, we popped over to the bead aisles to scope out the four for $10 deals. We picked 15 bead strands—with between 10 to 40 beads per set, depending—and a roll of clear cord (for later necklace-making projects). We also grabbed a small organizer to keep the beads in; not on sale, but something we felt necessary, and reasonable for $4.50. The next aisles had some of the biggest steals we encountered: 10 for $5 on two-ounce acrylic paints, 50 to 70 percent off fine art canvases, and 25 percent off other art supplies, from paint brushes to sets of paint, pens, and colored pencils. We added a 10-pack of 8×10 canvases and two 5×5 canvases to our shopping cart, along with a 24-tube acrylic paint set and a few larger paint tubes, plus a can of black spray paint and some wooden semicircle cutouts for a DIY mirror project.

We walked toward the next part of the store we knew had something we wanted: fiber filling to revive our couch cushions, which we assumed we’d find near the fabric department. Between there and the robust yarn section, it felt, for a second, like we could be in any big box retailer of the home goods ilk. You could buy outdoor rugs, plant stands, picture frames, and storage containers just like what’s in stock at Target or Home Depot. In my memory, the Jo(-)ann (Fabrics)(!) of my youth was much less home decor-oriented.

Still, the crafts and sewing storage items were marked 50 percent off, so we grabbed three collapsible bins in the style of Hay’s recycled color crates for the space above our kitchen cabinets at $5.99 each. I also picked out an 11×14 black picture frame, with visions of repainting it with a two-tone trim using our new acrylics set. We grabbed two large bags of the fiber filling—40 percent off, $17.99 each—and at some point along the way picked up a five-pound bucket of air-dry clay, which ran us $6.99.

Every five or so aisles we’d pass another shopper, which, compared to the experience of shopping at most major retailers, is essentially like walking through a desert, but I’d imagined something much more vacant. I realized I was likely conflating my understanding of bankruptcy with the idea of returning to a forsaken mainstay from my childhood, so to see other customers at all made me feel like the place was sufficiently busy.

The general energy in the store, however, reminded me otherwise. At one point, I heard an exasperated yell from the next aisle, “Is it so hard for people to put things back where they fucking belong?!” I obviously had to check whose Public Display of Begrudge this was; when I walked past, there was only one woman, wearing a Joann apron and organizing inventory.

In the fabric section, we had to squeeze our cart past a plastic storage bin with wet floor signs on either side that was blocking most of the walkway in order to catch droplets from a ceiling leak. I saw another millennial-looking couple talking to a woman at the service counter and wondered what they were there for, feeling an instant sense of curiosity and camaraderie with the other shoppers visibly under 60. We thought about buying some fabric to fashion a small curtain/cabinet skirt to hide our eyesore kitchen trash area, but decided against it—mostly due to decision paralysis, but also because we weren’t sure anything from the fabric selection would even really improve the situation. (As a kid, the actual quality of Jo-Ann’s Fabrics was not something I noticed, apparently.)

At checkout, the sweet (older) cashier winced as our balance climbed and offered to add an extra coupon that was typically only available online to bring our total down. It seemed like she hadn’t rung up a $184.17 tab for anyone in a long time.

(From left): A picture frame we bought half-off for $10 and upcycled with acrylic paints from a 24-tube set on sale for $10.50, and a vase we decorated with beads from the four for $10 deal.

Our first DIY project was the easiest: we added the stuffing to our couch cushions, which have formed light indents in various spots because of my bad habit of WFH…from the couch. Then, we took some of the beads and Gorilla Glued them to a glass vase we already own. I painted the black picture frame with two blue acrylics and put a Really Bad Portrait of us from the Upper West Side flea market in it. (I’m still battling my partner to let us hang it up in the bedroom.)

Next, we spray-painted the wooden semicircles black and Gorilla Glued them to the side of our Ikea Hovet mirror, inspired by furniture we saw at Originario on a recent trip to Mexico City. (We still have enough left to do the same with another black mirror in our dining room.) We used some of the quick-dry clay to make a small, foot-shaped catchall—again, inspired by ceramics we saw in Mexico City. We’re still deciding on what to paint on the canvases, but now we have the supplies at the ready for when inspiration strikes. In fact, we’ve barely scratched the surface of what we bought on our haul, so that trip will last us many more DIY projects. And, should the clearance sales continue and we decide we want more bead deals or actually do want to give that cabinet skirt a try, our receipt has a promo code that can be used on Joann’s website, so we won’t have to brave another visit.

Related Reading:

Retrain Your Brain and Repurpose Your Furniture

I’ll Never Make Another Decor Decision Without a Mood Board

Source: dwell.com

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Chicago has two major commercial airports: Chicago-O’Hare and Chicago-Midway. The former serves as a major hub for American Airlines and United Airlines, while Southwest Airlines has a large presence at Chicago-Midway.

With plenty of flyers traveling through the city on a daily basis, there are a number of airport lounges available to those who want a quiet space to relax before their flight.

Find out which airport lounges are available to travelers at Chicago-O’Hare, plus the latest information about a new, first-ever airport lounge at Chicago-Midway.

About Chicago’s airport lounges

Chicago-O’Hare

Depending on how you access a lounge and with which airline you’re flying, there are several lounges at Chicago-O’Hare worth exploring. The airport has lounges in Terminals 1, 2, 3 and 5.

Your best bet to get into a lounge here will be if you’re flying with United or American or if you hold elite status in one of these airlines’ loyalty programs. A small number of international airlines also have lounges in Terminal 5.

You may get access to lounges depending on your elite status level with an airline, even if traveling in economy class.

Chicago-Midway

Chicago-Midway doesn’t currently have any lounge options, but it will be opening its first-ever lounge in late 2024. Called “The Club MDW,” it will part of the network of lounges dubbed “The Club” be accessible to Priority Pass members.

If you want to purchase Priority Pass membership, an annual pass for unlimited lounge visits costs $469. Cheaper memberships are available but only allow a limited number of visits per year.

Chicago-O’Hare Terminal 1: United Clubs and Polaris Lounge

Terminal 1 is primarily used by United Airlines and select partners. It has four lounges for passengers traveling on United and partner carriers. Here are the lounges available at Chicago-O’Hare Terminal 1.

United Club

  • Three locations: near gate B6 (Concourse B), gate B18 (Concourse B) and gate C10 (Concourse C).

  • Open from 5 a.m. to 9 p.m. daily.

  • Must present a boarding pass to enter.

  • Open to United Club members, one-time pass holders, United and Star Alliance premium cabin passengers and eligible elite status holders (including Star Alliance Gold) on eligible international flights. Virgin Australia Velocity Gold, Platinum and VIP members plus Air Canada Maple Leaf Lounge members, all of whom must be traveling from Chicago-O’Hare on United, can also visit United Club locations. Access is also available to certain United credit cardholders.

United Clubs offer hot and cold buffet meals and drinks from an open bar. Work stations, free Wi-Fi, seats with power outlets and Illy coffee machines come standard.

Polaris Lounge

  • Located near gate C18 (Concourse C).

  • Open from 6 a.m. to 9 p.m. daily.

  • Must present a boarding pass to enter.

  • Open to United Polaris and Star Alliance premium cabin passengers as well as eligible elite status holders (including Star Alliance Gold flyers on non-United flights) on international flights. Star Alliance Gold members who are traveling domestically on United cannot use the Polaris Lounge, but may access the United Club instead.

Polaris Lounges have a more substantial buffet of hot and cold food items, an a la carte menu in a sit-down restaurant, an upgraded bar with complimentary drink selections, lounge areas, showers and nap rooms.

🤓Nerdy Tip

United Club members can bring a spouse and child under 21 or up to two guests. The United Club℠ Infinite Card comes with lounge membership that can be used when flying United or a Star Alliance partner.

Chicago-O’Hare Terminal 2: United Club

Terminal 2 is used by United Airlines as well as a handful of other airlines like Alaska Airlines and JetBlue Airways. Here is information on the sole lounge at Chicago-O’Hare’s Terminal 2:

United Club

  • Located near gate F9 (Concourse F).

  • Open from 5 a.m. to 9 p.m. daily.

  • Must present a boarding pass to enter.

  • Open to United Club members, one-time pass holders, Star Alliance premium cabin passengers and eligible elite status holders (including Star Alliance Gold) on eligible international flights. Virgin Australia Velocity Gold, Platinum and VIP members plus Air Canada Maple Leaf Lounge members, all of whom must be traveling from Chicago-O’Hare on United, can visit United Club locations.

United Clubs offer hot and cold buffet meals and drinks from an open bar. Work stations, free Wi-Fi, seats with power outlets and Illy coffee machines come standard.

Cards with United Club access

United℠ Explorer Card

on Chase’s website

United Club℠ Infinite Card

on Chase’s website

United℠ Business Card

on Chase’s website

United Club℠ Business Card

Details

Annual fee: $0 intro for the first year, then $95):

Lounge access: Two one-time United Club passes after account opening and each year for your cardmember anniversary.

Annual fee: $525.

Lounge access: Primary cardholders get a United Club membership.

Annual fee: $99.

Lounge access: Two one-time United Club passes after account opening and each year for your cardmember anniversary.

Annual fee: $450.

Lounge access: Primary cardholders get a United Club membership.

Still not sure?

Chicago-O’Hare Terminal 3: American Admirals Clubs and Flagship Lounge

Terminal 3 is primarily used by American Airlines and some of its partner carriers. Here are the details for the lounges located at Chicago-O’Hare Terminal 3.

American Airlines Admirals Club

  • Three locations: near gate G8 (Concourse G), between gates H6 and K6 (Concourse H/K) and near gate L1 (Concourse L).

  • Open daily from 6:15 a.m. to 7:15 p.m. (Concourse H/K lounge is open from 5 a.m. to 9 p.m.)

  • Must present a boarding pass to enter.

American’s Admirals Clubs offer buffet snacks and an open bar. Some include pop-up stations with avocado toast in the morning and made-to-order guacamole in the evening.

Work stations, seats with power outlets and lounge areas are also available. If you’d like to take advantage of the Club’s shower facilities, you’ll need to head to the location between the H and K Concourses.

American Airlines Flagship Lounge

  • Located between gates H6 and K6 (Concourse H/K).

  • Open daily from 5 a.m. to 9 p.m.

  • Must present an eligible boarding pass to enter.

  • Open to ConciergeKey travelers, eligible AAdvantage and Oneworld elite status members on international flights and premium cabin passengers on eligible international, premium transcontinental and long-haul Hawaiian island flights. One-day passholders can also enter for $150 per person or 15,000 AAdvantage miles. Also eligible to enter are Alaska Airlines MVP Gold and MVP Gold 75K members on eligible flights.

American’s Flagship Lounges are a step up from the Admirals Club and have expansive buffets with hot and cold items, self-service bars, a range of snacks, work stations, showers, seats with power outlets and premium Champagne and wine.

Chicago-O’Hare Terminal 5: Delta Sky Club and international airline lounges

Since Delta moved its operations to Terminal 5, it joins a few other domestic carriers as well as most other international airlines operating from Chicago-O’Hare.

🤓Nerdy Tip

It’s not easy for travelers departing from Terminals 1, 2 or 3 to access these lounges since they must leave the secure area, take a train and re-clear security. If you’re connecting through O’Hare with a flight leaving from Terminal 5, a free shuttle within security is available after showing an eligible boarding pass.

That said, these four Chicago-O’Hare airport lounges are best suited for passengers departing from Terminal 5.

Delta Sky Club

  • Located between gates M11 and M14 (Concourse M).

  • Open from 4:30 a.m. to 7 p.m. every day except Saturday when hours are 4:30 a.m. to 6 p.m.

  • Must present a boarding pass to enter.

  • Open to Delta Sky Club members, Delta One passengers, premium cabin passengers traveling internationally on a SkyTeam flight and Medallion members (except Silver) flying internationally in a premium cabin. Non-Delta members with SkyTeam Elite Plus status traveling on an international itinerary also receive access, as do those who hold The Platinum Card® from American Express, Delta SkyMiles® Reserve American Express Card, Delta SkyMiles® Reserve Business American Express Card or select Centurion cards from American Express. Travelers may only access the lounge up to three hours prior to their flight. Anyone holding a basic economy ticket will not receive access. Terms apply.

The Sky Club offers a buffet of hot and cold food items, an open bar (including a dedicated wine bar), work stations with power outlets, an interesting collection of artwork and plentiful seating overlooking the Delta gates.

Cards with Delta SkyClub access

Delta SkyMiles® Reserve American Express Card

Delta SkyMiles® Reserve Business American Express Card

The Platinum Card® from American Express

The Business Platinum Card® from American Express

Annual fee

Still not sure?

British Airways Lounge

  • Located between gates M11 and M12 (Concourse M).

  • Open from 12:30 p.m. to 9 p.m. 

  • Must present a boarding pass to enter.

  • This lounge is open to premium cabin and eligible Oneworld elite status members on international British Airways or Oneworld flights.

In the lounge, a range of self-service snacks and an open bar are available, although there is limited seating given its small size.

SAS Lounge

  • Located near gates M19 and M20 (Concourse M).

  • Opening hours vary based on flight schedule.

  • Must present a boarding pass to enter.

  • This lounge is accessible to SAS passengers and eligible elite status passengers on other Star Alliance flights from the terminal.

While compact, the lounge has a decent spread of snacks, self-pour refreshments including alcohol and work stations with power outlets.

Swissport Lounge

  • Located near gate M13 (Concourse M).

  • Open from 7 a.m. to 12:30 a.m (7 a.m. to 9 p.m. for Priority Pass members).

  • Must present a boarding pass to enter.

  • This lounge is available to Priority Pass members and eligible customers with access via their airline. If you have access to the American Express Global Lounge Collection, you also have Priority Pass membership, giving access to this lounge.

The lounge offers visitors a buffet of snacks, an open bar and seating although power outlets can be hard to find. This is not one of the most attractive lounges at the airport, but it is the only Priority Pass option.

Chicago-Midway: The Club at MDW

Opening in late 2024, this new Priority Pass-accessible lounge will be available near the Central Market between Concourses A and B.

This will become the first Chicago-Midway airport lounge.

Top cards with Priority Pass

The Platinum Card® from American Express

Capital One Venture X Rewards Credit Card

Marriott Bonvoy Brilliant® American Express® Card

The Hilton Honors American Express Business Card

U.S. Bank Altitude™ Reserve Visa Infinite® Card

Annual fee

Priority Pass benefits

Priority Pass Select membership. Enrollment required.

Terms apply.

Full Priority Pass Select membership. Includes two guests per visit. No restaurants.

Priority Pass Select membership. Enrollment required.

Terms apply.

10 complimentary Priority Pass lounge visits per year. Enrollment required.

Terms apply.

Eight free Priority Pass lounge visits per year.

Learn more

For Midway passengers without a qualifying card or Prioriy Pass membership, a day pass can also be purchased for those with a boarding pass for $50.

Chicago airport lounges recapped

Chicago-O’Hare has several lounge options across United, American, Delta and international airlines. Chicago-Midway, meanwhile, will be opening an airline-agnostic lounge for Priority Pass members in late 2024.

As it currently stands, travelers need to rely on their airline ticket, elite status or lounge membership to give them access to a Chicago airport lounge.

The information related to United Club℠ Business Card has been collected by NerdWallet and has not been reviewed or provided by the issuer of this card.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024, including those best for:

Source: nerdwallet.com

Apache is functioning normally

Grella filed a complaint against Kortas and his wife, Edna Montijo, in Maricopa County (Arizona) on March 19.

In total, Grella claims he discovered over $1.5 million worth of “secret, unauthorized” aircraft purchases and jet hangar lease payments – “and all of which Kortas purchased for himself or his wholly owned entities.” 

The document claims breach of the operating agreement, breach of fiduciary duties, unjust enrichment, and conversion, among others allegations. It says Kortas’s “misconduct also supports his removal from the company as a member.”

Grella is asking for attorney fees and punitive damages. He also claims that Kortas converted NEXA funds and made unauthorized credit card purchases, which “have reduced Kortas’ membership percentage interest to below Grella’s membership percentage interest, such that Grella is now the majority owner of Nexa.”  

The lawsuit states that Kortas had 50.5% of the company and Grella had a 49.5% share. 

NEXA’s businesses

America’s largest mortgage brokerage, NEXA originated $6.29 billion in mortgage loans in 2023, according to Kortas. As of Monday, the company had 2,391 sponsored mortgage loan officers, per the Nationwide Multistate Licensing System (NMLS). 

Grella told HousingWire that the mortgage business is profitable despite a challenging market. But that’s not the case for the aviation business. NEXA’s affiliated companies include AXEN Mortgage, a non-delegated correspondent shop, as well as a charter flight business – the latter of which was the source of disagreement between the partners.  

The venture started in February 2022 when Kortas “persuaded” Grella to purchase two jets for NEXA’s corporate use and business purposes, per the lawsuit. The jets would be used to fly executives around the country as needed. However, there were also tax benefits to depreciating those assets, which would justify the investment. Another jet acquisition was made one month later. 

Then, according to the lawsuit, in late 2022, Kortas “convinced” Grella to acquire an FAA-licensed charter company called Fly Dreams, LLC. The justification was that it would help charter the third jet and “dry-lease it, which would help defray NEXA’s aircraft expenses.” 

“After NEXA closed on the purchase of Fly Dreams in early 2023, due to regulatory hurdles that Kortas had failed to flag or explain, NEXA was unable to charter the new jet with Fly Dreams,” the lawsuit states. 

After that, specifically in 2023, Grella said Kortas tried to convince him to purchase an airplane flight school due to a pilot shortage (which he ended up doing independently), invest in an aircraft hangar, and purchase another jet. 

Grella refused and claimed he faced retaliation, with Kortas treating him as an employee rather than a partner, depriving him of the use of the jets, and ceasing the payment of wage for both of them despite NEXA having millions in retained earnings.

Regarding the $24 million airplane-hangar leasehold, the lawsuit that “Grella informed the seller of the truth of Kortas’ inability to bind Nexa.” Then, through his legal counsel, Kortas “asserted that the aviation business is a legitimate business of Nexa and “Grella had consented to some aviation related purchases.” Therefore, according to Kortas, he was authorized to make the purchase on Nexa’s behalf without Grella’s consent, per the lawsuit.

The split

According to Grella, his “abrupt” termination occurred on March 20, after months of frustration related to what he calls a “serious breach of NEXA’s operating agreement, which requires profits to be distributed equally and for both partners to consent to activities not directly related to NEXA’s mortgage brokerage purposes.”

The lawsuit states that Kortas controls the company, bank accounts, and profit distributions. However, the operating agreement says that if the company engages in any other activity that is unrelated to the purpose of mortgage brokerage, it “requires unanimous member consent.”

“But after Kortas developed an aviation hobby, he began spending millions of dollars of company money for his own aircraft, without Grella’s consent, and, in many cases, without his knowledge,” the document states. 

Grella, who started the business with Kortas in 2017 after leaving Equity Prime Mortgage, was responsible for handling the operations, including managing relationships with partners and lenders, overseeing production and supporting loan officers and the management team. 

Kortas announced during a weekly Town Hall on Tuesday that Grella had been terminated. This means he will not be involved in the company’s daily operations or strategic decisions for the growth of the business. However, he remains a partner until the conclusion of a buyout negotiation. 

According to Kortas, the buyout depends on NEXA’s appraisal. Despite his sadness at hearing what he called Grella’s “harmful rhetoric,” Grella appears to be motivated more by his unhappiness with the terms of his agreed-upon buyout than by concerns he claims to have about the related airplane business, Kortas added.

“Of course, Mr. Grella’s ongoing interference with NEXA’s business relationships and expectancies, which appears to be a blatant effort to pressure NEXA into relenting on those contractual rights that Mr. Grella is actually upset about, are doing nothing but causing the type of harm… harm that is irreparable in nature … that Mr. Grella professes to be taking issue with.”

“NEXA will not be bullied or blackmailed into foregoing its legal rights by a former employee who had himself already agreed to no longer be an owner of NEXA.”

Source: housingwire.com