rural

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West Virginia offers a diverse array of living experiences, from the historic charm of Wheeling’s cost-effective living options to the quaint allure of smaller towns like Lewisburg. With abundant outdoor recreational opportunities like hiking trails and state parks, West Virginia beckons those seeking an active and adventurous lifestyle. Whether you’re contemplating a move to the state or simply seeking insights, this ApartmentGuide article will highlight the pros and cons of living in West Virginia, helping you make informed decisions about your future home.

Renting in West Virginia snapshot

1. Pro: Rich historical landmarks

West Virginia is home to numerous historical landmarks, such as the Harpers Ferry National Historical Park, which offers a glimpse into the past with its well-preserved historical town and museums. This state’s rich history in the Civil War and the industrial revolution is showcased in various sites, making it a haven for history enthusiasts.

2. Con: Limited public transportation options

West Virginia struggles with limited public transportation options, particularly in rural areas like Union. This can pose a challenge for residents without personal vehicles, making it difficult to access essential services, employment opportunities, and recreational activities. Additionally, the lack of reliable public transportation may contribute to social isolation and dependence on others for transportation needs.

3. Pro: Abundant outdoor activities

The state is renowned for its stunning natural landscapes, including the New River Gorge Bridge, which creates opportunities for high-adrenaline activities like base jumping during the annual Bridge Day festival. The vast forests and rivers are also a great addition creating endless outdoor activities, from hiking and mountain biking to whitewater rafting on the Upper Gauley River.

4. Con: Limited access to technology

West Virginia’s rural areas often experience limited access to high-speed internet, hindering connectivity. Many residents in remote regions struggle with slow internet speeds and unreliable connections, impeding their ability to participate in online activities. So if you’re considering a move to this state, you’ll want to consider different regions that are right for your lifestyle.

5. Pro: Close-knit communities

West Virginia is known for its close-knit communities, where neighbors often form strong bonds and support each other. This sense of community is especially evident in smaller towns and rural areas, where local events and gatherings foster a strong sense of belonging.

6. Con: Natural disaster risks

West Virginia faces natural disaster risks such as floods, landslides, and severe storms due to its geographic location and terrain. Flash floods are particularly common in the state’s mountainous regions, posing threats to communities and infrastructure.

7. Pro: Low cost of living

Compared to many other states, West Virginia offers a relatively low cost of living. Housing, utilities, and daily expenses are generally more affordable, allowing residents to stretch their budgets further. Even in Charleston, West Virginia’s largest city, the average rent for a one-bedroom apartment is $752 making renting more attainable for renters.

8. Con: Infrastructure deficiencies

West Virginia’s infrastructure deficiencies are evident in its aging roads, bridges, and utilities, which require significant investment and maintenance. Many rural areas face challenges with deteriorating infrastructure, impacting transportation, access to services, and economic development. The state’s rugged terrain and harsh weather conditions further exacerbate these infrastructure challenges.

9. Pro: Proximity to nature

The proximity to nature is a pro to living in West Virginia, providing ample opportunities for outdoor recreation and relaxation. With its vast forests, like the Monongahela National Forest, rolling hills, such as those found in the Appalachian Mountains, and winding rivers like the New River, the state offers residents easy access to hiking, camping, fishing, and other outdoor activities.

10. Con: Environmental concerns

Mining and industrial activities have left a mark on West Virginia’s environment, leading to concerns about water quality, deforestation, and land degradation. Efforts are being made to address these issues, but they remain a concern for many residents. For instance, mountaintop removal mining has dramatically altered the landscape in some areas, leading to loss of biodiversity and habitat destruction for wildlife.

11. Pro: Rich cultural heritage

West Virginia’s rich cultural heritage is celebrated through music, art, and festivals. The state’s Appalachian roots are evident in its folk music and dance, traditional crafts, and storytelling, offering residents and visitors a unique cultural experience. For example, the annual Appalachian String Band Music Festival in Clifftop brings together musicians from across the region to celebrate and preserve traditional Appalachian music traditions.

12. Pro: Rural isolation

The rural isolation can be seen as a con to living in West Virginia, as residents in remote areas may face limited access to essential services and amenities. With sparse populations and long distances between communities, individuals may experience challenges in accessing healthcare, shopping centers, and educational institutions.

Methodology : The population data is from the United States Census Bureau, walkable cities are from Walk Score, and rental data is from ApartmentGuide.

Source: apartmentguide.com

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Utah, with its breathtaking landscapes and booming economy, has become a prime destination for renters seeking adventure and opportunity. From the iconic red rock formations of Arches and Zion to the snow-capped peaks of the Wasatch Range, Utah offers unparalleled natural beauty and outdoor recreational opportunities. Whether you’re contemplating a move to Provo or the beautiful Salt Lake City, this ApartmentGuide will dive into the pros and cons of living in Utah so you can get an idea on whether this state is right for you.

Renting in Utah snapshot

1. Pro: Outdoor recreation

Utah is a paradise for outdoor enthusiasts, offering a diverse landscape for hiking, skiing, and mountain biking. The state is home to five national parks, including Zion and Arches, providing stunning backdrops for adventure and exploration. Moreover, Utah’s extensive network of state parks, wilderness areas, and scenic byways offer endless opportunities for camping, fishing, rock climbing, and wildlife viewing, ensuring there’s always something new to discover for nature lovers of all skill levels.

2. Con: Air quality concerns

Parts of Utah, particularly the Salt Lake Valley, struggle with air quality due to temperature inversions in the winter, leading to high levels of pollution. This can affect health and reduce visibility of the state’s beautiful landscapes. Additionally, poor air quality during inversions can exacerbate respiratory issues and pose health risks, especially for vulnerable populations such as children, the elderly, and individuals with pre-existing conditions.

3. Pro: Strong economy

Utah boasts a strong and diverse economy driven by thriving industries such as technology, outdoor recreation, healthcare, and tourism. With a growing population, the state offers ample job opportunities and economic stability for residents. Additionally, Utah’s business-friendly environment, favorable tax policies, and skilled workforce attract businesses and entrepreneurs.

4. Con: Water scarcity

As a desert state, Utah faces challenges with water scarcity. The growing population and agricultural demands put pressure on water resources, leading to concerns about sustainability and conservation efforts. Additionally, climate change exacerbates these challenges, as changing precipitation patterns and increasing temperatures affect water availability and usage.

5. Pro: Cultural events and festivals

Utah hosts a variety of cultural events and festivals throughout the year, including the renowned Sundance Film Festival in Park City. These events attract global attention and offer unique experiences for residents and visitors alike. Moreover, Utah’s diverse cultural scene encompasses art galleries, museums, performing arts venues, and culinary festivals that celebrate the state’s rich heritage.

6. Con: Harsh winter weather

Utah experiences harsh winter weather characterized by heavy snowfall, icy conditions, and bitterly cold temperatures, particularly in mountainous regions and higher elevations. These winter conditions can create hazardous driving conditions and disrupt daily life, requiring residents to be prepared for extreme weather events such as snowstorms and blizzards.

7. Pro: Healthy lifestyle

Utah promotes a healthy lifestyle through its abundance of outdoor recreational opportunities, including skiing, hiking, and biking, which encourage physical activity and fitness. The state’s scenic landscapes, and emphasis on outdoor living contribute to residents’ overall well-being and quality of life.

8. Con: Earthquake risk

Utah faces a notable earthquake risk due to its location along the Wasatch Fault and other active fault lines. The state experiences seismic activity, with the potential for earthquakes of varying magnitudes, posing risks to infrastructure, property, and public safety.

9. Pro: Affordable cost of living

Utah offers an affordable cost of living compared to many other states, with reasonable housing prices in cities like Provo, and Ogden. For example, the median home price in Ogden is $375,00o and rent for a one-bedroom is $1,299, making housing more attainable for residents.

10. Con: Seasonal allergies

Due to its diverse climate and vegetation, Utah can be challenging for individuals with seasonal allergies. Pollen from trees, grasses, and wildflowers can lead to discomfort for allergy sufferers, especially in the spring and early summer. Moreover, Utah’s varying elevations and microclimates create different allergy seasons across the state.

11. Pro: Educational opportunities

Utah offers excellent educational opportunities, with several universities and a strong public school system. The state is committed to educational excellence and innovation, providing a solid foundation for lifelong learning. Additionally, Utah’s investment in education extends beyond traditional classrooms, with initiatives that promote STEM education, vocational training, and workforce development.

12. Con: Limited public transportation

Utah faces challenges with limited public transportation options, particularly in rural and suburban areas, where access to reliable transit services may be scarce. Major urban centers like Salt Lake City have established light rail and bus systems, but coverage may be insufficient for residents in outlying areas like Provo which has a transit score of 33 making it a car-dependent city.

Methodology : The population data is from the United States Census Bureau, walkable cities are from Walk Score, and rental data is from ApartmentGuide.

Source: apartmentguide.com

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In the heart of the American West, Wyoming‘s expansive landscapes are home to cities that offer a unique living experience for renters seeking both adventure and tranquility. From the historic streets of Cheyenne to the university town of Laramie, this ApartmentGuide article explores the pros and cons of living in Wyoming, offering essential insights for those thinking of moving to this distinct part of the U.S.

Renting in Wyoming snapshot

Population 584,057
Avg. studio rent $994 per month
Avg. one-bedroom rent $1,165 per month
Avg. two-bedroom rent $1,428 per month
Most affordable cities to rent in Wyoming Cheyenne, Rock Springs, Gillette
Most walkable cities in Wyoming Cheyenne, Casper, Laramie

1. Pro: Stunning natural landscapes

Wyoming’s natural landscapes are breathtaking, offering residents and visitors alike a chance to immerse themselves in the beauty of the outdoors. From the majestic Grand Teton National Park to the vast plains of the high desert, the state provides a backdrop for a variety of outdoor activities such as hiking, skiing, and wildlife watching.

2. Con: Severe weather conditions

The state experiences a range of severe weather conditions, from heavy snowfall in the winter to thunderstorms and tornadoes in the summer. These weather patterns can pose challenges to daily life, affecting everything from transportation to outdoor plans.

3. Pro: Low population density

With one of the lowest population densities in the country, Wyoming offers a sense of solitude and space that is hard to find elsewhere. This low density contributes to a quieter, more relaxed lifestyle, with less traffic and lower levels of pollution.

4. Con: Limited cultural amenities

Limited cultural amenities in Wyoming, particularly in smaller towns and rural areas, can impact residents’ access to diverse cultural experiences and opportunities for artistic expression. For instance, while larger cities like Cheyenne and Jackson may offer some cultural attractions such as museums and theaters, these amenities may be sparse or nonexistent in more remote regions of the state.

5. Con: High altitude

The high altitude in Wyoming can pose challenges for some individuals, leading to altitude sickness, dehydration, and increased risk of certain health issues, particularly for those not acclimated to the elevation. Additionally, the high altitude may require adjustment periods for newcomers, impacting physical performance and comfort levels during outdoor activities.

6. Pro: Rich cultural heritage

The state’s rich cultural heritage, influenced by Native American, cowboy, and western cultures, is celebrated through various festivals, museums, and rodeos. This cultural richness offers residents and visitors a unique glimpse into the state’s history and traditions.

7. Con: Water scarcity

Wyoming is among the driest states in the country. This issue primarily stems from the state’s semi-arid climate and reliance on mountain snowpacks for its water supply. The variability in annual snowfalls leads to inconsistent water availability, impacting agriculture, wildlife, and human consumption. Additionally, Wyoming is subject to interstate agreements that allocate river water to downstream states, further complicating its water management strategies. 

8. Pro: No state income tax

Living in Wyoming means the significant financial benefit of having no state income tax. This absence of tax leads to direct savings for residents and a lower cost of living relative to states with higher taxes. This policy not only boosts individual financial health but also attracts businesses and entrepreneurs, driving economic growth and job creation in the state.

9. Con: Limited job opportunities

Limited job opportunities in Wyoming can hinder career advancement and economic stability for residents, particularly in industries outside of energy and agriculture, which can lead to higher rates of unemployment and underemployment and potentially prompting skilled workers to seek employment opportunities elsewhere.

10. Pro: Wildlife and conservation efforts

Wyoming’s commitment to wildlife conservation is exemplified by initiatives such as the Greater Yellowstone Ecosystem, which spans across Wyoming, Montana, and Idaho and serves as one of the last remaining strongholds for iconic species like grizzly bears and wolves. Additionally, the state’s National Elk Refuge, located near Jackson, provides critical winter habitat for thousands of elk migrating from the surrounding mountains, offering residents and visitors alike the chance to witness these majestic creatures up close.

11. Pro: Cowboy culture

Wyoming’s rich cowboy culture adds a unique and vibrant flavor to the state, blending history with contemporary life. Known as the “Cowboy State,” Wyoming proudly celebrates its Western heritage through rodeos, cowboy music, and dance festivals. This culture is deeply woven into the state’s identity, giving residents a chance to experience the traditional cowboy lifestyle. From horseback riding across vast open plains to attending lively country fairs, the cowboy culture in Wyoming provides a fun, authentic, and distinctly American experience.

12. Con: Strong winds

The strong and persistent winds in Wyoming can be a significant drawback for residents, causing discomfort and inconvenience, particularly during windy seasons in the spring and fall. These gusts can also lead to property damage and increased wear and tear on buildings and infrastructure.

Methodology : The population data is from the United States Census Bureau, walkable cities are from Walk Score, and rental data is from ApartmentGuide.

Source: apartmentguide.com

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Dog ownership comes with many responsibilities, and keeping your dog clean is one of the most challenging. Some owners tackle the bathing, brushing and trimming themselves, while others pay for a dog grooming service. If you’re one to leave it to the professionals, you may have wondered if you’re supposed to add a gratuity after receiving the bill.

Start with the average cost of dog grooming

Tips are often calculated by taking a percentage of the total bill. A basic grooming service can cost $50 to $75, according to Erin Myers, a grooming expert and project analyst at the American Kennel Club.

According to etiquette experts, the industry standard for tipping service professionals is 15% to 20% of the bill, so for dog groomers that would work out to $7.50 to $15. If you’re unsure, use our tip calculator.

Factors that could affect the size of your bill or tip

While calculating a percentage of the total bill is a good place to begin, there are some other things that may influence your tip.

Dog breed and size: Some breeds require a little extra maintenance, especially if they’re prone to matted fur or shedding (think poodles and bichon frisés). If your dog needs lots of brushing or a special haircut, you might want to consider that in your tip. Bigger dogs also can take longer to groom.

Temperament: If your dog hates getting groomed and is difficult to manage, it might make the appointment last longer and, potentially, endanger the groomer. Consider tipping more if this sounds like your dog.

Salon address: Location influences the prices of most things, including grooming. People going to a shop in an urban area should anticipate a larger bill and expect to pay more in tips than those in suburban or rural areas.

Mobile vs. brick and mortar: A mobile grooming service can be a convenient option for owners who find it difficult to bring their dog to a salon. However, Myers says “people should anticipate that [mobile grooming] is going to be a little bit more expensive” to cover vehicle gas and maintenance, permits, specialized equipment and the fact that mobile groomers can typically care for only one dog at a time. When calculating how much to tip a mobile groomer, take these factors into consideration.

Quality of service: The salon’s cleanliness, groomer’s communication style and your dog’s final appearance will likely influence how much you tip. Myers suggests assessing your dog after a groom to make sure that there are no tangles, cuts or other issues because they could be red flags for subpar work. If you feel like you received poor service, you might tip less than 15% or nothing.

Number of groomers: Some groomers do everything from start to finish while other salons have groomers dedicated to different parts of the process. If there is a division of labor, you might want to spread out the tip.

How to reduce your dog grooming bill

The cost of grooming should be top of mind before you adopt or purchase a dog. If the breed you want needs regular grooming, include those recurring expenses in your budget. Many people consider pets to be family members, which means veterinarian and grooming expenses might fall under the “50% for needs” category within the 50/30/20 budget framework.

Here are some other ideas to help cut costs:

  • Get a shorter cut to go longer between grooms. This extended timeline can save you money in the long run. 

  • Join a loyalty program and take advantage of seasonal promotions. Some groomers might offer discounts after completing a number of visits or feature holiday specials.

  • Keep up with at-home grooming between services. Taking over more manageable aspects of your dog’s care, like ear cleaning or toenail clipping, can make your groomer’s job quicker, potentially leading to lower costs. 

  • Switch to a national chain. If you’ve been going to a mom-and-pop groomer, you could save money by taking your dog to a national chain where tipping isn’t expected, according to Myers. 

  • Check to see if your pet insurance offers a wellness plan. Some providers let you add on certain grooming services. 

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Should you tip a dog groomer?

A grooming appointment can last two to four hours, according to PetSmart, a national pet retail chain. The average appointment includes brushing, ear cleaning, toenail clipping, bathing, drying and styling. Groomers may be grappling with scared or grumpy dogs who make the job more challenging. If your groomer delivers consistent results and is kind to your dog, tipping is a way to show your appreciation

What if you can’t afford to tip?

If a 15% to 20% tip isn’t feasible, tipping a smaller amount might be an option. You could also reserve your tip for the holiday season, which can be a time to thank the service providers who make your life easier throughout the year. Adding a line in your holiday budget for your groomer will give you time to plan and save for the extra cost.

Myers suggests having an open conversation with your groomer about tipping when you drop off your dog. Asking for the costs upfront and establishing whether a tip is expected can help build an honest relationship.

If a tip isn’t in your budget, there are other ways to show your appreciation. Posting a positive review online could help boost business, and praising your groomer directly to their manager is a kind gesture.

Source: nerdwallet.com

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POS, TPO, Automation, DPA Tools; HECM, FHA, USDA News; Housing Starts and Permits

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POS, TPO, Automation, DPA Tools; HECM, FHA, USDA News; Housing Starts and Permits

By:
Rob Chrisman

5 Hours, 39 Min ago

One never knows what one will learn at a mortgage event, like yesterday learning from Lender Toolkit’s Alex K. that Collinsville, Illinois has the largest catsup bottle in the world. (The Collinsville area produces 60 percent of the world’s horseradish root, but I’ll save that tale for another time.) Later today I’ll be leaving Las Vegas, flying from Las Vegas north to Reno while President Joe Biden flies south from Reno to Las Vegas. (I imagine the chow on Air Force One beats whatever Southwest will serve up.) Nevada or nationwide, politics are certainly intertwined with housing, and vice versa. There’s the “Lock-in Effect” produced by government-induced rates. ICE reported that first-time homebuyers made up 55 percent of agency purchase mortgages in 2023, the highest for many years. Meanwhile, heard in the hallways: increasing the pool of qualified first-time home buyers without a corresponding increase in homes they’d buy is pointless… it just jacks up the starter home prices.” From someone else: “Affordable housing initiatives are not really moving the needle. Instead of eligibility at 80 percent of the AMI (area median income), why don’t they make it 50 percent?” (Found here, this week’s podcast is sponsored by Visio Lending. Visio is the nation’s premier lender for buy and hold investors with over 2.5 billion closed loans for single-family rental properties, including vacation rentals. Today’s has an interview with Experian’s Joy Mina on the income and employment verification landscape and the Experian Verify solution.)

Lender and Broker Services, Products, and Software

LoanCare®, a top U.S. mortgage subservicer, has made it easier than ever for homeowners to manage their mortgages with a newly launched, proprietary mobile app: My LoanCare Go. Offering expanded private label branding options, account-based marketing, and tailored communications, My LoanCare Go helps clients enhance their homeowners’ mortgage experience to build lasting relationships. The app is part of LoanCare’s award-winning consumer digital platform, and is available in both English and Spanish for personalized support. Reach out to learn more today!

Horse racing fans know the Kentucky Derby always takes place the first Saturday in May at Churchill Downs in Louisville. While that main event (Derby 150!) is still weeks away, Down Payment Resource (DPR) hopes to see you at The Mortgage Collaborative’s The Mane Event next week in Louisville where its co-sponsoring a Derby-themed opening reception on March 24 and will demonstrate the benefits of down payment assistance for lenders during a partner showcase. Grab your mint julep, jodhpurs, and a festive hat for this always fun “family” affair, and schedule a meeting with the DPR team.

Make your general ledger profitable and run your business more efficiently with Loan Vision and LV-PAM. Instead of “staying alive until ‘25”, with Loan Vision, a software built by the mortgage industry for the mortgage industry, you can “produce more in 24!” Customers on Loan Vision see improvements of 30 percent+ decrease in days to close the books, 20 percent+ reduction in accounting headcount, complete LOS to G/L automation, and improved reporting and visibility. Interested in learning how Loan Vision can help you run a more efficient and profitable company? Contact Carl Wooloff to schedule a call today.

“As spring blooms around us, American Financial Resources, LLC (AFR) is thrilled to announce fresh pricing enhancements that will elevate your experience with us! Our world class capital markets team has been hard at work, crafting innovative strategies to bring you pricing enhancements that will have your originators buzzing. With these changes, we’re paving the way for smoother transactions and more competitive offerings, ensuring that you receive the best possible pricing options tailored to your needs. Visit AFR’s Quick Pricer tool to witness the impact now. The new AFR provides TPOs with top-notch service and exceptional value every step of the way. So, as you revel in the beauty of this vibrant season, take a moment to celebrate the exciting improvements we’re bringing to the table. Here’s to a season filled with growth, prosperity, and flourishing opportunities! Contact us at [email protected], 1-800- 375-6071, visit www.afrwholesale.com or partner with AFR today!”

Mortgage Technology Offerings

There’s no such thing as a “one-size-fits-all” technology solution. Every financial institution is different. And modern banks, credit unions, lenders, and insurance brokers need options that make sense for their businesses, their goals, and their customers or members. The Total Expert Partner Ecosystem is a curated collection of industry-leading partners, thought leaders, and technology providers designed to help you address market challenges, drive growth, and create customers and members for life. Leverage 70+ integrations, strategic relationships with Salesforce and AWS, and a rich library of shared industry knowledge and best practices to develop the strategies that support your business goals and build the tech stack you need to put it in motion. Learn more!

Fully Customize Point-of-Sale Workflows with Maxwell’s New Blueprint Builder. Maxwell is thrilled to introduce an industry-first: the Blueprint Builder, a feature in Maxwell Point of Sale that allows lenders to drive a differentiated mortgage experience, helping them to stand out from the competition. With the Blueprint Builder, mortgage lenders can connect to over 60 third-party integrations to create a tailored workflow suited for their unique needs. Plus, lenders can adapt their digital experiences to the operations processes that work best across their products and channels, without the cost of hiring developers. To learn more about the Blueprint Builder, click here or schedule a call with the Maxwell team.

FHA, VA, Ginnie, USDA, and HECM News

Ginnie Mae’s February issuance included $30 billion of Ginnie Mae II MBS and nearly $894 million of Ginnie Mae I MBS, including nearly $816 million in loans for multifamily housing.

For the 2024 calendar year to date, Ginnie Mae has supported the pooling and securitization of more than 91,000 first-time homebuyer loans!

In the Ginnie Mae All Participants Memorandum (APM) 24-02, Ginnie Mae announced the implementation of new Cybersecurity Incident reporting requirements. These requirements are part of Ginnie Mae’s continued commitment to the security and integrity of all operational systems and critical technology infrastructure related to the issuance and servicing of Ginnie Mae Mortgage-Backed Securities (MBS). Effective immediately, Issuers must notify Ginnie Mae of a cyber security incident within 48 hours of detection.

Yes, Ginnie Mae established cybersecurity reporting requirements for program participants on Monday. Effective immediately, Ginnie issuers must notify the agency of any cybersecurity incident within 48 hours after the issue is detected. “Once the notification is received, representatives from Ginnie Mae will contact the designated point of contact to obtain additional information and establish the level of engagement needed depending on the scope and nature of the incident.”

USDA Rural Development SFHD Program posted, effective March 8th, the Fiscal Year (FY) 2024 area loan limits (based on the guidance in Handbook-1-3550, Chapter 5, Paragraph 5.6 A) are available at https://www.rd.usda.gov/files/RD-SFHAreaLoanLimitMap.pdf.

On March 4th, USDA Rural Development SFHD Program posted Advance Notice: Revisions to HB-1-3555, Chapter 15. Copies of the upcoming revisions are available for review on the Loan Origination page of the USDA LINC Training and Resource Library, under the sub-heading “New”.

USDA Rural Development Single-Family Housing Guaranteed Loan Program (SFHGLP) announced a reference sheet for obtaining a payoff and/or release of lien for a USDA Guaranteed Loan Mortgage Recovery Advance (MRA). This reference sheet includes a centralized email address for MRA inquiries and instructions on obtaining a payoff and/or a release of lien for an MRA.

In HECM news, with the Plaza Home Mortgage® Reverse Mortgage, borrowers can enjoy a multitude of benefits, including: No mortgage payment required. No Pre-Pay: Make payments as desired. Non-Recourse Loan: never owe more than the home’s value. Borrowers will maintain title to the home. Borrower’s estate retains all equity. No equity sharing: homeowners keep all future appreciation. Funds are tax free, but always consult your tax advisor. No limitations as to how the money can be used. Younger spouses (under 62) are protected. Closing costs are typically financed in the loan.

Capital Markets

A week that will be rife with central bank policy announcements (see below for some international decisions today) began with a slow retreat in the bond markets and traders paring back their expectations that the Fed will start cutting rates by June. Expectedly, this week will be dominated by the Federal Open Market Committee (FOMC) decision tomorrow where no change in the fed funds rate (range of 5.25 percent to 5.50 percent) is expected. But we will get a fresh set of economic forecasts along with a new dot plot. The first Fed rate cut is now forecast to come in mid-summer, and fed funds futures are now roughly in-line with the December dot plot, which forecasts three rate cuts this year. Thank goodness. As recently as the end of January, investors were counting on six cuts in 2024.

The Fed has made it clear that policy is restrained and that the Fed presidents don’t want to become too restrictive, but there is a risk that the Fed will sound too hawkish during this meeting which could push bond yields higher. While inflation sits above the Fed’s 2 percent target, it has been trending positively. However, mortgage rates have remained high, currently above 7 percent. With the unemployment rate rising and average hourly earnings growth decelerating, the Fed still believes inflation is likely to cool further in coming months.

Remember that aside from the FOMC, this week is packed with lots of mortgage-related economic data, including the NAHB housing market index yesterday (homebuilder sentiment jumped to an eight-month high in March, fueled by limited resale inventory and lower mortgage rates. A measure of expected sales in the next six months rose to the highest since June), building permits and housing starts today, and existing home sales on Friday.

Overnight and ahead of tomorrow’s FOMC decision and updated Summary of Economic Projections, markets will digest the latest monetary policy decisions from the BoJ (it raised rates!) and the Royal Bank of Australia (it’s done hiking rates). Today’s domestic economic calendar is under way with February housing starts and building permits (+10.7 percent, 1.521 million annualized; +1.9 percent, 1.518 million respectively). Expectations were for 1.450 million starts and 1.500 million permits versus 1.331 million starts and 1.489 million permits previously in January. Next up brings Redbook same store sales for the week ending March 16. The U.S. Treasury then announces the auction sizes for short-duration bills before auctioning $75 billion 42-day CMBs, $46 billion 1-year bills, and $13 billion reopened 20-year bonds. We begin the day with Agency MBS prices slightly improved from Monday evening, the 10-year yielding 4.32 after closing yesterday at 4.34 percent, and the 2-year at 4.71.

Jobs

Weichert Financial Services, a leading nationwide Real Estate Affiliated Mortgage Company, is seeking to bring on a VP of Mortgage Servicing. The candidate would oversee the subserving relationship with Dovenmuehle and the technical day to day of the firm’s $2+ Billion servicing portfolio, thus a prior working relationship with DMI and their internal systems would be viewed as a plus. Both Hybrid and Remote candidates for the position would be considered, with headquarters being in New Jersey. If you’re a seasoned mortgage professional with a passion for taking a long standing, well capitalized Mortgage company established in 1980 to the next level, and you’re looking for a great work/life balance, we want to hear from you. Competitive compensation including Health, Dental, 401K, and PTO. Please contact Tim McLaughlin for more details.

While today marks the arrival of Spring, Spring EQ has proudly served as the industry pioneer in home equity solutions for nearly 8 years! Whether you’re a correspondent seller looking for a new partner, or a wholesale broker in search of an expansive suite of home equity products, Spring EQ can help. The need for home equity solutions is surging among borrowers, so make sure your business is prepared to meet this demand by partnering with the experts in home equity at Spring EQ. Interested in a correspondent partnership? Click here. Interested in a wholesale partnership? Click here. Looking for new opportunities in the mortgage industry? Explore Spring EQ job postings and come join a growing team of fun and experienced mortgage professionals! At Spring EQ our primary focus is second mortgages. So, think of us first for all your seconds.

PrimeLending’s One More Sales Coaching Program is transforming LO careers! LOs are discovering their best selves thanks to our exclusive peer-to-peer coaching program. The One More Sales Coaching Program is designed by PrimeLending’s top producers who’ve proven they know what it takes to excel in today’s market. LOs connect, collaborate, and learn from each other in a dynamic small group environment. Graduates walk away having mastered high-impact skills and habits they need to drive better results, such as personal branding, networking, and leveraging technology. The best part? It’s completely free! We’re investing in our LOs and empowering them to take their careers to the next level. Contact Nic Hartke today and join our winning team!

The Mortgage Bankers Association (MBA) announced that Madisyn Rhone joined the association today as VP of Legislative Affairs responsible for advocating on behalf of MBA’s legislative and policy priorities on Capitol Hill, with a primary focus on Democratic members of the U.S. House of Representatives.

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

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In the vast and sun-kissed state of California, the allure of urban living is redefined by its major cities, each offering a diverse culture and lifestyle. This ApartmentGuide article takes you on a journey through the vibrant streets of Los Angeles, where the entertainment industry meets a melting pot of cultures, to the scenic beauty and laid-back vibe of San Diego, showcasing the state’s dynamic rental markets. Renters are drawn to California not just for its weather but for the promise of a lifestyle that blends urban convenience with natural beauty, from the sprawling beaches to the bustling city centers. Here are the major cities in California to consider moving to.

1. Los Angeles, California

Population: 3,898,747
Average rent for a one-bedroom apartment: $2,614
Average rent for a two-bedroom apartment: $3,700
Los Angeles, CA apartments for rent
Los Angeles, CA homes for sale

Los Angeles is known for the Hollywood Sign, Griffith Observatory, and the Santa Monica Pier. Visitors flock to Universal Studios Hollywood for a glimpse behind the scenes of their favorite films and television shows, while art enthusiasts explore the prestigious Getty Center for its impressive collection spanning centuries.

2. San Diego, California

Population: 1,386,932
Average rent for a one-bedroom apartment: $2,744
Average rent for a two-bedroom apartment: $3,617
San Diego, CA apartments for rent
San Diego, CA homes for sale

With a desirable climate, miles of sandy beaches, and natural deep-water harbor, San Diego is a perfect place to live. The city offers a laid-back lifestyle with a strong focus on outdoor activities, including surfing, boating, and hiking. Cultural attractions like the San Diego Zoo, Balboa Park, and numerous museums provide enriching experiences.

3. San Jose, California

Population: 1,013,240
Average rent for a one-bedroom apartment: $2,711
Average rent for a two-bedroom apartment: $3,255
San Jose, CA apartments for rent
San Jose, CA homes for sale

San Jose, the heart of Silicon Valley, is a global tech hub with a bustling economy. The city is home to numerous tech companies like Meta, innovative startups, and a diverse population. Residents enjoy a high quality of life, great educational institutions, and a variety of cultural and recreational activities.

4. San Francisco, California

Population: 873,965
Average rent for a one-bedroom apartment: $3,479
Average rent for a two-bedroom apartment: $4,518
San Francisco, CA apartments for rent
San Francisco, CA homes for sale

San Francisco is known for its iconic Golden Gate Bridge, historic cable cars, and vibrant cultural scene. The city’s diverse neighborhoods offer a wide range of dining, shopping, and entertainment options. The city’s scenic beauty and cultural richness make it a captivating place to call home.

5. Fresno, California

Population: 542,107
Average rent for a one-bedroom apartment: $1,337
Average rent for a two-bedroom apartment: $1,652
Fresno, CA apartments for rent
Fresno, CA homes for sale

Fresno serves as the agricultural heartland of California, offering a blend of urban and rural living. The city is a gateway to the Sierra Nevada mountains, providing easy access to outdoor adventures in Yosemite National Park and beyond. Fresno’s cultural scene is growing, with local wineries, farm-to-table restaurants, and art venues enriching the community.

6. Sacramento, California

Population: 524,943
Average rent for a one-bedroom apartment: $1,872
Average rent for a two-bedroom apartment: $2,087
Sacramento, CA apartments for rent
Sacramento, CA homes for sale

Sacramento, the state capital, is rich in history and political activity. The city has many beautiful parks like Capitol Park, and a growing farm-to-fork movement. Sacramento’s riverfront location offers scenic beauty and recreational activities, making it an appealing place for those seeking a dynamic yet laid-back lifestyle.

7. Long Beach, California

Population: 466,742
Average rent for a one-bedroom apartment: $2,230
Average rent for a two-bedroom apartment: $2,885
Long Beach, CA apartments for rent
Long Beach, CA homes for sale

Long Beach is a coastal city with a diverse population and a strong sense of community. The city is known for its waterfront attractions, including the historic Queen Mary and the Aquarium of the Pacific.

8. Oakland, California

Population: 440,646
Average rent for a one-bedroom apartment: $2,460
Average rent for a two-bedroom apartment: $3,325
Oakland, CA apartments for rent
Oakland, CA homes for sale

The city of Oakland offers a rich culinary landscape, with an array of international cuisines. Oakland’s parks and green spaces, including the expansive Redwood Regional Park, provide residents with ample outdoor recreation opportunities.

9. Bakersfield, California

Population: 403,455
Average rent for a one-bedroom apartment: $1,445
Average rent for a two-bedroom apartment: $1,632
Bakersfield, CA apartments for rent
Bakersfield, CA homes for sale

Bakersfield is known for its strong agricultural industry and as the birthplace of the Bakersfield sound, a genre of country music. The city offers a close-knit community with a slower pace of life. Residents enjoy a variety of outdoor activities, including exploring the nearby Sequoia National Forest.

10. Anaheim, California

Population: 346,824
Average rent for a one-bedroom apartment: $2,055
Average rent for a two-bedroom apartment: $2,550
Anaheim, CA apartments for rent
Anaheim, CA homes for sale

Anaheim is globally renowned for its theme parks, including the iconic Disneyland Resort. Beyond the parks, the city offers a vibrant sports scene, with professional hockey and baseball teams. The city’s mix of entertainment, sports, and dining makes it a lively place to live.

Methodology : The population data was retrieved from the United States Census Bureau for 2021, while the average rental data was sourced from Rent.com in March 2024.