Category: Montana Mortgages


Remember when … Gavin Newsom, 38, dated a Republican teenager



In retrospect, the fall of 2006 passed amid a blur of troop support, subprime mortgage granting, and Borat oversight, so one could be forgiven for missing a critical chapter: the Governor of California Gavin Newsom, then mayor of San Francisco, divorces his wife. age five and making contact with a Republican teenager 20 years his junior, whom he escorted to the San Francisco Symphony after apparently disguising her age on Myspace.

These days, Newsom has recovered from an attempted recall and has been busy signing permits for offshore drilling. But at the time, the 38-year-old was halfway through his career. first term as the city’s 42nd mayor, the youngest person to hold the post in 100 years. Newsom had set up several hotel businesses in the 1990s mostly funded by his father’s high school friend Gordon Getty (net worth by Forbes: $ 2.1 billion). He presented himself to voters as a social progressive with a sticky core of austerity, and more or less delivered. Shortly before ordering San Francisco authorities to approve marriage licenses for same-sex couples in February 2004 – a landmark move that precipitated state policy (and subsequent ban via Proposition 8) four years later – he also led a proposal to fund homeless services by slashing social assistance so recipients couldn’t use the money for alcohol. The program, called “Care Not Cash,” so angered activists that they burned it in effigy.

But Newsom had campaigned for unity and had succeeded in at least one respect: many of his constituents agreed that he was handsome. Because 2006 was also a year of promiscuous blogging, this fact has been well documented in the informal Internet. A development director in her twenties launched a Blogspot dedicated to her crush on Newsom; she then covered it as a columnist for the the Chronicle (Asked by ABC News about what she liked about the mayor, the blogger replied: “Other than the fact that he’s a perfectly dressed man, breathtaking?”). Another blogger, who ran a site called CityMama, invented a name for her: “Mayor McHottie”.

At the time, McHottie was married to future Trump star Kimberly Guilfoyle (now in a relationship with Donald Jr.), and their union was an equal cause of public flattery. In 2004, Harper’s Bazaar posted a series of photos of the couple, dressed in formal wear and posing around Gordon and Ann Getty’s house – standing in their office, shooting pool in their living room, lounging on their living room rug. The headline called them “the new Kennedys,” although Guilfoyle sometimes sounded less Catholic (during a 2004 gay rights fundraiser she reportedly said of Newsom, “Is he sexy? Yeah. Is he hanged? Yeah. [she waved her hand to suggest bisexual]? No, unless you can give a better [she mimicked eating a banana] than me. She later claimed that the pantomime was overdone).

In 2005, the couple filed for divorce, sending Newsom on a widely publicized singles streak. He had already appeared on Paris Hilton’s buddy list during his Sidekick hack in 2004. Then he had an affair with Ruby Rippey-Tourk, the wife of his former campaign manager, Alex Tourk – although it does not become public until the following year. Shortly after the divorce was finalized in 2006, Newsom hosted a series of dates so well known around San Francisco that local outlet SFist ran a survey of readers’ favorites.

Most notoriously, he dated CSI: Miami starlet and Scientologist Sofia Milos, appearing as her plus-one at a Church-sponsored event for the anti-psychiatry group, Citizens’ Commission for Human Rights. Later that fall, he attended the San Francisco Opera’s opening gala alongside Erin Brodie, the daughter of 49ers quarterback John Brodie, who had recently appeared in the series. reality show “For Love or Money”, then as “Miss October” in the Calendar “The sexiest women in reality TV”.

It was in this climate that the newspapers first got wind of Newsom’s latest love affair: a former Sonoma State University lacrosse player named Brittanie Mountz. That fall, they met at Aqua, the then-trendy eatery, since closed, described as “a powerful San Francisco restaurant stronghold where executives make big decisions while eating small portions of fruit. incredibly fresh and sparkling seafood “. Mountz, 19, worked there as a hostess. Newsom was about to turn 39.

In early September, Newsom took Mountz to the opening gala of the San Francisco Symphony, a high profile event medium compared to “what the Oscars are in Los Angeles, in terms of fashion,” where seats started at 1 $ 600. According to SFGate, Newsom “plays[ed] shy “about her date,” assign[ing her] various characters: from speech writer to secretary, even sports editor. Local newspapers later reported on her hostess work and daytime work as a model. They appeared together again a few weeks later at a black tie dinner at the MH de Young Museum and then at the opening of a new Westfield mall.

Politicians have long liked younger women. As ABC wrote, “From Newt Gingrich to Bill Clinton, from Nelson Rockefeller to John McCain, politicians of all stripes have upheld one of the country’s not-so-proud traditions: romancing women nearly half their age. age. Nan Britton was 20 when she began her affair with Warren Harding, about 30 years her senior; Mimi Alford claims to be 19 when she started a relationship with JFK, 45. Technically speaking, there is nothing wrong with dating an adult woman, even if she is a year older. But it is a gloomy look for a person (man) in public office, especially one whose “strongest political asset”, such as the Chronicle of San Francisco wrote at the time, was his “impeccable image”.

Presumably the Newsom camp realized this. Reporters noticed that the age on Mountz’s public Myspace page rose from 19 to 26, shortly after she was linked to the mayor. here is The San Francisco Chronicle:

Brittanie Mountz, the new wife of San Francisco Mayor Gavin Newsom, just turned 20 last month – and that raises some questions about the couple’s nights on the town. The bigger question is whether Mountz has been drinking, and it’s been swirling around since the couple made their first public appearance and walked the red carpet together at the San Francisco Symphony in September.

At the time, Mountz had a Myspace page that said she was 19. She now says she is 26. But according to the Sonoma County Registrar of Electors, the Rohnert Park resident turned 20 on September 17 – three weeks and two days before Newsom turned. 39.

The age gap was not so much of a public concern, as the impression that Newsom had allowed her date to drink wine when the mall opened, when she couldn’t order a legal drink yet:

The photos had been posted on socialite photographer Drew Altizer’s website. [sic] last week. After Chronicle City Hall reporter Cecilia Vega began asking if Mountz had been drinking alcohol at an event the mayor was in attendance for, the photos quickly dropped … That Mountz was actually drinking alcohol in the opening of the shopping center remains a mystery.

At the time, Newsom spokesman Peter Ragone claimed the mayor and Mountz did not attend the opening together. “Brittany is a friend of the mayor,” Ragone told the the Chronicle. “They didn’t attend the Bloomingdale event together. Obviously, there was some uncertainty about his age. However, given this The Chronicle dug up on her, if she was drinking it was a mistake. The mayor later claimed that they had “never held hands”.

A “local newspaper editor,” speaking to ABC, was more damning. “Everyone expects him to have this great political career, but he makes a lot of bad choices. [Newsom’s ex-wife] Kim always put her foot in his mouth and now he’s dating this girl who just graduated from college. He lets his hormones take over.

For Newsom supporters, the most alarming detail came out when the the Chronicle checked her age: she was a registered Republican. “How dare he?” a city official asked ABC at the time. “He knows how to choose them. You can count the young Republican women in this town on one side. But the ordeal quickly became fuel for his detractors. In October, after Newsom teamed up with police unions in an attempt to oust a San Francisco supervisor named Chris Daly, the incumbent released an attack announcement over the incident, according to the The Chronicle:

Daly’s toughest punch is the one with a sock puppet featuring Newsom and a bottle of PlumpJack wine [Newsom’s wine label] playing the mayor’s 20-year-old girlfriend Brittanie Mountz, both watching from their castle the needy mob below. The ad cuts off with “Mountz” asking for a glass of wine.

As recently as 2018, when Newsom was running for California governor, opposing candidate Amanda Renteria tried to capitalize on the case as a #MeToo incident worthy of her resignation as lieutenant governor. . “Newsom’s tenure as mayor has been highlighted by a pattern of sexual misconduct in the workplace,” she wrote in a Press release. “This included multiple sexual encounters with his date secretary [meaning Ruby Rippey-Tourk, the aforementioned wife of Newsom’s former campaign manager] and dating a 19-year-old who was pictured consuming alcohol at a gala. (Rippey-Tourk later dismissed that their involvement constituted a fault; Mountz never commented).

As you might expect, Mountz took the most heat (see this the Chronicle title: “You know you’re stupid when Brittanie Mountz thinks ‘What a Spaz'”). The couple separated in November 2006, when Newsom was linked to his current wife, Jennifer Siebel. Mountz quickly transitioned from modeling to journalism – a few months after their dates she met Newsom and Siebel at the premiere of Pursuit of happiness. The mayor was present as a guest; Mountz covered it for Benefit from magazine. She apparently now works under a different name (Gawker retained this).

A year later, Newsom married Siebel in a ceremony in Montana, where he rode in front of an audience that included Nancy Pelosi, Gordon Getty, Huey Lewis, Charles Schwab, Larry Page, Sergey Brin, Dianne Feinstein and ex- San Francisco Mayor Willie Brown, who flew to Montana aboard one of Google’s business jets to cover the ceremony for the the Chronicle. Its theme was “Outside of Africa”. Newsom, Brown wrote, “looked like Ronald Reagan.”

“Remember when?” is a series in which we remember things long forgotten. Previously: Do you remember when James Cameron went to the bottom of the ocean?



Today’s mortgages, refinancing rate: October 18, 2021



For four consecutive weeks, fixed rates have increased slightly while adjustable rates have fallen. Overall, both fixed and adjustable rates are still relatively low.

Low mortgage rates generally reflect a struggling economy, and the COVID-19 pandemic has taken a toll on the U.S. economy for the past year and a half.

High inflation is usually a sign that an economy is growing, and inflation in the United States has increased since the start of 2021. Many people wonder if mortgage rates will rise as inflation rises.

Mortgage rates today

Money.com conventional rates; RedVentures government guaranteed rates.

Mortgage Refinance Rate Today

Money.com conventional rates; RedVentures government guaranteed rates.

Will mortgage rates increase in 2021?

Even though inflation has been high this year, mortgage rates are unlikely to rise significantly by the end of 2021.

Economists and

Federal Reserve
hypothesized that the rise in inflation could be temporary, as businesses reopen after closing during the pandemic. They said that once business opening becomes the new normal and Americans are vaccinated, inflation could slow.

Inflation rose 0.3% in August, which was below expectations and one of the slowest months of the year. Then it increased again in September. Once we have a better idea of ​​where inflation is heading, we’ll know what to expect with mortgage rates.

What is a fixed rate mortgage versus a variable rate mortgage?

In recent weeks, fixed mortgage rates have risen slightly as adjustable rates fall. A variable rate mortgage (ARM) could be a good deal depending on your situation.

Fixed rate mortgages lock in your rate for the life of your loan. Variable rate mortgages lock in your rate for the first few years, then your rate increases or decreases periodically.

Since adjustable rates start out low, these are great options if you plan to sell your home before interest rates change. For example, if you get an ARM 7/1 and want to move within seven years, you won’t risk paying a higher rate later.

But if you want to buy a home forever, a fixed rate might still be a better choice. Fixed rates are relatively low and you don’t risk your rate going up in a few years.


Lack of Child Care Causes Labor Shortage in Montana | Business



Labor markets are expected to remain weak for several reasons. First of all, let’s call it, the “Johnny Paycheck” effect. During the pandemic, workers have had the chance to return to a life without work, to spend more time with their families and their leisure time. Usually, this kind of event occurs in a specific industry that experiences a unique set of conditions. The more universal nature of the pandemic means that more sectors have been affected simultaneously.

Compared to most developed countries, Americans work more hours per year, about 1,750 hours. Germans, on the other hand, work about 1,300 hours per year. Of course, Germans have less annual income, but not that much. Americans work 33% more hours per year and earn 25% more. What we may be seeing is a shift from work to other activities that people like to do.

Second, some were unable to return to work due to other obligations, in particular child and parent care. Results of the impacts of two Montana child care surveys were released in 2020, one with parents and the other with employers. Both studies found that insufficient child care in Montana has a dramatic effect on the state’s economy.

From the point of view of labor supply, the survey conducted by the Bureau of Business and Economic Research (BBER) revealed that for the inhabitants of Montan 12% left their jobs. Licensed child care can only meet about 45% of demand.


SimpleNexus Launches In-App Payments with Nexus Pay at Annual21 MBA | national news



Nexus Pay Streamlines Payments for Mortgage Applicants, Enabling Lenders to Deliver a Easier, More Unified Homeownership Journey

LEHI, Utah, October 13, 2021 (SEND2PRESS NEWSWIRE) – SimpleNexus (https://simplenexus.com/), developer of the leading homeownership platform for loan officers, borrowers, real estate agents and agents settlement, today announced the launch of Nexus Pay at the Mortgage Bankers Association’s Annual Convention and Exhibition (MBA Annual21) taking place October 17-20 at the San Diego Convention Center.

Powered by global payment technology provider Global Payments (NYSE: GPN), Nexus Pay enables mortgage applicants to seamlessly pay all mortgage related fees. Payments like appraisal fees, credit checks, first month payment and more can be made in the same mobile hub borrowers use to receive loan status updates, electronically sign documents, work with loan officers and real estate agents, and perform other loan-related tasks.

Nexus Pay allows loan seekers to easily submit credit card or ACH payments in the SimpleNexus app without human assistance, speeding up payment delivery and improving process efficiency for mortgage lenders. In-app push notifications alert applicants when they need to complete a payment task, and lenders can use the SimpleNexus administration portal to track payment history; view the payment status on the borrower’s loan details page; and modify, cancel or refund payments if necessary.

“With Nexus Pay, we’ve removed the friction that often occurs when payments are required in the mortgage workflow, making it easier and faster for borrowers to pay – and lenders to receive – those payments,” he said. said Shane Westra, Director of Products for SimpleNexus. “By incorporating another step of the homeownership journey into the SimpleNexus app, lenders can provide their clients with a cutting edge, branded home financing experience from start to finish. “

See Nexus Pay in action

Mortgage lenders attending the Annual21 MBA are invited to join SimpleNexus for a welcome reception co-hosted by Notarize and Regorra at the San Diego Wine and Culinary Center on Sunday, October 17, 7:30 p.m. to 10 p.m. PT .

SimpleNexus will present a live demo of Nexus Pay on Tuesday, October 19, during lunch break from 12:30 p.m. to 1:15 p.m. PT. The demonstration will take place at the Innovation Stage, Ground Level, Exhibit Hall A.

Conference attendees can also stop by SimpleNexus Booth # 601 in THE HUB during exhibition hours on Sunday, October 17, 6 p.m. to 7:30 p.m. PT, Monday, October 18, 10 a.m. a.m. to 5 p.m. PT or Tuesday October. 19, 9:30 a.m. to 4 p.m. PT.

About SimpleNexus, LLC:

SimpleNexus is a homeownership platform that transforms the mortgage experience and connects borrowers, loan officers, real estate agents and settlement service providers throughout the home buying process. The platform’s native mobile toolset allows lenders to create, process and close home loans from anywhere with increased efficiency and convenience. Loan officers can manage their loan pipelines, order credits, set prices, send pre-approvals, sign disclosures, and run eClosings – all on the go. SimpleNexus gives borrowers a single sign-on experience, from on-demand home search, document downloads, electronic closing and beyond, for a more streamlined homeownership journey.

Find out more on: https://www.simplenexus.com/

Twitter: @SimpleNexus #industriedumortgage #housing #fintech # MBAAnnual21 #home buyers #mortgage # mortgages

NEWS SOURCE: SimpleNexus

This press release has been published on behalf of the information source (SimpleNexus) which is solely responsible for its accuracy, by Send2Press® Newswire. Information is believed to be accurate but is not guaranteed. Story ID: 75880 APDF-R8.2

© 2021 Send2Press®, a press release and electronic marketing service of NEOTROPE®, California, United States.

To view the original version visit: https://www.send2press.com/wire/simplenexus-debuts-in-app-payments-with-nexus-pay-at-mba-annual21/

Disclaimer: The contents of this press release were not created by The Associated Press (AP).

Copyright 2021 Send2Press Press wire


Senate approves $ 480 billion debt ceiling hike after 11 Republicans join Democrats to advance vote



Hello. Welcome to FoxNewsFirst. Here’s what you need to know as you start your day …

Senate approves $ 480 billion debt ceiling increase after 11 Republicans join Democrats to advance vote
The senator decided Thursday night to approve a short-term increase in federal debt ceilings, ending a week-long standoff on Capitol Hill and avoiding defaults that could have caused a recession There is sex .

Democratic senators passed a $ 480 billion increase with a 50-48 simple majority vote. The final vote came after 11 Republicans joined the Democratic Party in a vote to call a fence, crossing the 60-vote threshold for obstruction.

Eleven Republicans who voted to authorize the bill were Senate Minority Leader Mitch McConnell, Minority Whip John Thune, John Konin, Lisa Murkowski, Sherry Muakapit, Richard Shelby, Rob Portman and others. They were Susan Collins, John Barasso, Mike Round and Robland. ..

The bill has now been submitted to the House of Representatives and lawmakers can consider it by next week at the earliest. The $ 480 billion increase is enough to fund the government until at least early December. Click here for more information on the best stories..

Other developments:
-LiveUpdate: Democrats, Republicans vote to raise debt ceilings for now
-Donald Trump demands deportation of McConnell after indebted Dems “Lifeline”: “Mitch is not a man”
-Deroy Murdock: Mitch McConnell collapses under Democratic debt limit lies
-Hannity is ashamed of the Democratic threat by “fully exploring the cave” Mitch McConnell: “Where is your spine?
-Some Republicans unhappy with McConnell’s Debt Capping Operation: “Full Restitution”

Florida mother receives standing ovation in Virginia after searching for ‘mass spill’ at public school
Florida’s mother Kisha King called for a “massive escape” from the public school system, arguing that school officials had left parents with no other option to combat leftist ideas.

His comments came at the Family Research Council’s annual prayer-voting booth summit on Thursday at the panel on “Tackling Nationwide Indoctrination.”

“I really think all we have to do now is get out of the public school system in droves, and that’s it,” King said. In response, she received a long applause and many onlookers stood up at an event in Leesburg, Virginia.

King had previously drawn public attention in June in a speech against Critical Race Theory (CRT). She works with the Moms for Liberty group. This is one of the many ideas that are fighting the CRTs and other ideas across the country.

His comments came amid turmoil over the Justice Department’s announcement that the FBI would investigate potential violence at a school board meeting. Attorney General Merrick Garland’s memo on this issue was concerning as it appeared to respond to a letter from the National Association of School Boards (NSBA) suggesting that authorities were facing a form of “domestic terrorism”. Caused. Click here for more information..

Other developments:
-Mother of Virginia, Indian immigrants fight the “targets” of the Department of Justice on the backs of their parents: they are “good people”
-The Virginia Board of Education sued her mother after the document was released “inadvertently and accidentally” at the request of FOIA.
-Butcher & Gonzales: Biden Justice Department ignores censored parents are sure to end badly
-Philadelphia mother says GM is “not threatened” by targeting his parents.

Gabby Petite’s family goes in search of Brian Laundry. He thinks this is the “missing part” of the puzzle
Brian Laundry has been on the run for weeks after his fiancée Gabby Petite was declared missing, and the Little ones believe he has the answer to what happened to his daughter.

Petito and Schmidt’s family sat in an exclusive interview with Fox News senior correspondent Laura Ingle, expressing displeasure with Laundrie’s ongoing search and hope for an answer.

“Just get settled in,” Petit’s mother Nicole Schmidt said of the laundromat. “As the days go by, it gets more and more frustrating. I don’t know what is taking so long.

Petito’s family want to find out that Laundrie is alive and be able to provide the missing answers related to the death of their 22-year-old daughter. Her mother admitted that the family believed Laundry “knew it all”.

“It’s a piece of the puzzle to find out what happened,” said Petit’s stepfather Jim Schmidt. “What happened there?” We don’t know until they find it. Click here for more information..

Other developments:
-Live update: Brian Laundry’s dad is empty in Florida park
-Who is Christopher Laundry, Brian Laundry’s father?
-The Gabby Petite Foundation is “in operation” to help parents “bring their children home”
-Hikers claiming to see Brian Laundry near Appalachian Trail say FBI “takes a lot of notes” during meeting

Click here to get the Fox News app

To read today:
-Battlefield Democrats Blame President For Border Management And Socialist Spending
– California teenager shot dead in road rage incident in front of his terrifying uncle
-Montana Abortion Restriction Act blocked by state judges
-Astros, the Rays lead 1-0 in the ALDS series
-Matthew Stafford fights with finger injury, leading Rams to big win in NFC West

The latest information on FOX BUSINESS:
-Costco faces severe shortage of holiday basics
-Is Amazon about to leave Seattle?
-Why homeowners are seeing monthly mortgages and rising interest rates
-Democrats limit Biden plans, provide IRS with more information on bank accounts
-Prevent ads from appearing next to content that denies Google climate change

A few words of farewell

Tucker carlson Blasted President Biden Thursday night “Tucker Carlson tonight” Because the anger of France against the United States for having agreed to supply Australia with a nuclear submarine seems to be “fuzzy and confused” and “unconscious”.

“We asked the former Secretary of State, now our Climate Emperor John Kerry, what happened here,” Carlson said. “And his reaction was really simple. Like John Adams, Joe Biden didn’t know the French were upset. Now, unlike John Adams, the current president is on his cell phone. But he didn’t know it yet. Joe Biden didn’t know because he was in mental decline.

“So Kelly was invited by the French news channel to explain it all,” Carlson continued. “Why did the Biden administration separate France from the nuclear submarine deal with Australia?” And his reaction was tremendous. Joe Biden did this because he was absolutely unaware of the problem in the first place. He said. ”

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Senate approves $ 480 billion debt ceiling hike after 11 Republicans join Democrats to advance vote

Source link Senate approves $ 480 billion debt ceiling hike after 11 Republicans joined Democrats to advance vote


Tunnel to Towers Foundation to pay off mortgages for 9/11 first responders



The Tunnel to Towers Foundation will pay off mortgages for the families of 50 deceased first responders and military personnel, including 20 in New York City, the nonprofit said Thursday.

The organization – named after the path firefighter Stephen Siller took as he walked through the Brooklyn Battery Tunnel to the Twin Towers in the moments after the 9/11 attacks – said payments would go to first responders and Gold Star families across 18 states.

Families of police, firefighters, soldiers are among those whose mortgages will be clear.

On Thursday morning, the organization said all 50 mortgages had been paid or were in the process of being paid.

“For T2T, this is the biggest one-day mortgage pledge and it will be a great tribute to these fallen heroes,” the organization said. “Their families and loved ones will never have to make another mortgage payment again and it’s all because of the outpouring of support. “

The Tunnel to Towers Foundation has announced that it will pay off the mortgages of 50 first responders who died helping in the September 11 terrorist attacks.
ALEXANDRE FUCHS / AFP via Getty Images

Four Californian families are also included in the sizable gain.

Families from New Jersey, Colorado, Montana, Texas, Maryland, Wisconsin, Florida, Tennessee, North Carolina, Minnesota, Massachusetts, Arizona, Ohio, Mississippi, Illinois and New Mexico are also included.


Judge: Mediator to Sort Claims in Florida Condo Collapse | national news



Hoping to avoid a bitter and protracted battle for victims’ money, a judge said Wednesday that a mediator would be appointed to settle claims arising from a Florida condominium collapse that killed 98 people.

The intention is that an agreement be made on the distribution of the proceeds from the planned sale of the Champlain Towers South site in Surfside, Florida, as well as insurance payments and any lawsuit proceeds.

“I want this to start,” Miami-Dade circuit judge Michael Hanzman said at a hearing. “The last thing I want to see is the victims fighting over the (money) allowance. It would be a shame.”

Several lawyers have compared the Florida collapse to the difficult task of placing a value on human life over property losses and other claims after the 9/11 terrorist attacks. This process, overseen by attorney Kenneth Feinberg, has now become the Netflix movie “Worth” starring Michael Keaton as Feinberg and is based on Feinberg’s own book.

“What is life worth?” Keaton, like Feinberg, says in an opening scene. “The answer is a number. And that’s the job.

The 12-story oceanfront Champlain Towers South condominium collapsed without warning in the wee hours of June 24, burying victims and property in a pile of tangled rubble. The cause has not yet been determined, but the building needed millions of dollars in critical structural repairs before it fell.

The site, at just under 2 acres (0.8 hectares), is already the subject of a $ 120 million sales contract. The property will be auctioned off to see if there are other interested buyers who could pay more.

Still, there probably won’t be enough to fully compensate everyone for their losses. The mediator, once appointed, would be responsible for reaching a fair deal for all victims, lawyers said.

“We will work very hard to achieve this,” said Ricardo Martinez-Cid, one of the lawyers representing victims of wrongful death. “I hope it will be in the best interests of all victims.”

Hanzman said he was contacting Miami attorney Bruce W. Greer, who has extensive mediation experience, to deal with the case. Greer did not immediately respond to an email on Wednesday asking if he would accept.

“It’s going to be long and difficult,” Hanzman said. “This is one of those situations where you’re going to have to compromise.”

One outcome that all parties hope to avoid is forcing condo owners to pay an appraisal to cover claims in excess of the money available through the sale of the property, insurance, or legal payments. Florida law appears to require it, but it is not clear whether this applies to this disaster, court-appointed receiver Michael Goldberg said.

“It can apply. I’m not absolutely sure, ”Goldberg said. “If this applies, it can have a significant impact. “

Another potential source of money comes from state or federal governments. Talks are underway on issues such as remission of property taxes, mortgages and other forms of compensation.

Hanzman reiterated that victims’ claims are likely to far exceed the amount of money available.

“These people are going to end up with significant shortfalls,” said the judge, adding that he wanted to avoid a protracted legal battle. “Everyone who has suffered a loss here is a victim. Everyone will have the right to be heard.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


There is no substitute for hard work



America has a rich and intriguing history. The first settlers who arrived in the west, in places like California, Oregon and Utah, were hard workers who tamed the rugged and dry “Great Basin”. For many years, the states of Utah, Wyoming, Idaho, and Montana had small populations. But recently, they were discovered for their great outdoors, great recreational opportunities, and wonderful lifestyle. Bob Harrington, entrepreneur and author, grew up in the shadow of the Wasatch Mountains in beautiful Salt Lake City. He spent his childhood there and led a rich and active life in the valley and the mountains. From his youth, he developed the determination to succeed. Harrington’s work ethic that came from his parents’ heaviness has served him well throughout his life. While not the sharpest knife in the drawer, his hard work has paid off.

Work has been a big factor in his life. It brought him a sense of satisfaction and contentment. He opened up many opportunities and paved the way for a wonderful life. He has learned that work never hurts anyone and that it brings a certain sense of satisfaction and fulfillment. His grandfather said: “Work hard, remember that you only have to work half a day. Choose the twelve hours you want. “Hard work will always pay off.

  • Blessed with a supportive family

Harrington grew up in a supportive family who gave him the confidence that he could achieve whatever he wanted. He has three wonderful sisters, all of whom are capable and independent women. Harrington continued his education and graduated from the University of Utah with a degree in Philosophy. In his last days at college, he met the woman of his dreams. After graduation they moved to Scotland where his wife was a teacher and he pursued higher education. They were soon expecting their first child and returned to Utah to study law at the University of Utah. Harrington’s life is now devoted to his four wonderful children, who have all been very successful, and his many grandchildren who bring him great joy.

Harrington practiced law for some time and was involved in the real estate industry. His background included the development of storage centers, housing estates, a first class hotel, land and custom homes in Park City, Utah. The Harringtons lived in Park City for eleven years. Harrington describes those years; “Like some of the happiest years of our lives. The family, three girls and a boy, often skied, played golf and tennis, and enjoyed all the fun times in the small mountain town. “

  • Diversify the professional portfolio

Harrington’s entrepreneurial background includes two Airborne Express franchises in Denver and Phoenix, several Minute Lube stores in San Diego, office warehouses in St. George, subdivisions in St. George and Park City, Utah. In addition, he owned and operated a large mortgage brokerage firm in Salt Lake, southern Jordan, Orem and Ogden, Utah; as a lawyer he signed thousands of title insurance policies for these mortgages; he worked with a partner to create a real estate fund that provided millions of dollars in financing for more than sixty-two deals in most of the western states. He continues to complete small-scale land and real estate transactions in the greater Salt Lake City area.

COVID-19, a time of uncertainty for many, has caused the world to go on lockdown. While many were wasting their time watching the series, Harrington took the time to write several books. Death in the Promised Land, his first book, tells the story of JD Beck, a lawyer, former marine and former prosecutor, who, as fate wills, found two escapees in his office. This encounter led to the disclosure of a huge criminal scheme that Beck risks his life to crush.

The case concerns international money laundering, the storage of illegal ‘hot’ nuclear waste and a giant corrupt business that kills anyone who gets in their way. Beck risks his life and that of his small team to unravel the massive corruption that has invaded his state.

Dedication, strong work ethic and desire for success in life led Harrington to explore many professional experiences. While working in business, he decided to explore his abilities as an author. Her efforts and concern for work and family reflect her lifestyle and personality. Harrington makes sure every moment is worth it, both in his professional and personal life. Working towards a better future, Harrington manages to enjoy life to the fullest.

Although Bob has built a financially stable life, he still takes time for his family. Skies and family fish in the trails and rivers of Jackson Hole, Wyoming, Montana and Idaho. He and his better half have traveled extensively across Europe, Asia and the Middle East. They spend part of their summers in Newport Beach, California, and have been to Hawaii often. Harrington adores his family and dedicates his life to their health and happiness. He and his wife have been married for over fifty years. Over the past few years, they’ve explored the Southwest of America, which they’ve come to love.

Harrington has reached a milestone in his life of happiness and contentment. He prays for the health and safety of his family. He spent years working with his children on their education and athletic endeavors. He has coached many of their teams, soccer, football, baseball and more. He devoted many hours to his community, serving on the planning commission for several years and serving as a zoning hearing officer. He is dedicated to his church and has given many hours of service to the youth in his community and to those in need. He had a good life and lives without regrets.


HUD announces disaster relief in Vermont and Montana



On September 30, HUD announced disaster assistance for parts of Vermont affected by a severe storm and flooding July 29-30, providing foreclosure and other assistance to affected homeowners. This followed President Biden’s declaration of major disaster for Bennington and Windham counties issued on September 29. The next day, HUD announced disaster assistance for parts of Montana affected by the Richard Spring fire from August 8-20, also providing relief and other assistance to affected homeowners. This followed President Biden’s declaration of major disaster for Rosebud County and the Northern Cheyenne Indian Reservation released on September 30. According to the announcement, federal funding is additionally available on a cost-sharing basis for risk mitigation in all areas of Montana.

For both disaster relief measures, HUD provides an automatic 90-day moratorium on foreclosures of FHA-insured mortgages for covered properties and makes FHA insurance available to victims whose homes have been destroyed. or severely damaged, so that “reconstruction or replacement is necessary.” . In addition, HUD’s Section 203 (k) loan program will allow people who have lost their homes to finance the purchase of a home or refinance an existing home and the costs of repair, through a mortgage only. The program will also allow homeowners with damaged property to finance the rehabilitation of existing single-family homes. Flexibilities for state and local governments, public housing authorities, tribes and tribal-designated residential entities are also discussed.


Biden calls Republicans ‘reckless’ about raising debt ceiling



“Let me be clear on the task ahead: we need to get a bill to the president’s office dealing with the debt limit by the end of the week. Period. We do not have the luxury of waiting until October 18, ”he wrote in a “Dear Colleague” Monday letter.

Mr McConnell has made it clear that the Republican decision to obstruct a vote was politically motivated. He cited the votes cast by Mr. Biden against raising the debt ceiling under former President George W. Bush, which he said “made Republicans do it themselves.”

“Two-party politics is not a switch that President Pelosi and Chief Schumer can turn on to borrow money and turn it off to spend it,” McConnell said. wrote. “For two and a half months, we have simply warned that since your party wants to govern alone, it must also manage the debt ceiling alone. “

Administration officials and Democratic leaders note big difference between votes under Mr. Bush and those today: Democrats did not obstruct those votes, allowing Republicans to introduce a bill and increase the limit themselves.

With that avenue in jeopardy, administration officials and congressional leaders are privately sifting the party’s options if Mr McConnell does not budge and the vote fails. If that happens, Mr Biden could face increased pressure to get Mr Schumer and other party leaders to use budget reconciliation.

The reconciliation process would likely involve two politically charged voting marathons that could stretch out for much of the day. Democrats say there is no guarantee that Republicans will not drag these votes to inflict procedural and political malaise.

Mr Biden did not rule out asking Democrats to resort to reconciliation on Monday, but he also did not endorse the strategy. “It’s fraught with all kinds of potential dangers of miscalculation,” he said.



HUD announces disaster assistance for Montana disaster survivors



HUD n ° 21-165
HUD Public Affairs
(202) 708-0685

FOR DISTRIBUTION
Friday
October 1, 2021

HUD ANNOUNCES DISASTER ASSISTANCE FOR MONTANA DISASTER SURVIVORS

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance for areas of Montana state affected by the Richard Spring fire in August 8 to 20, 2021.

On September 30, President Biden issued a declaration of major disaster for Rosebud County and the Northern Cheyenne Indian Reservation. Federal funding is also available on a cost-sharing basis for risk mitigation measures in all areas of the state.

The president’s statement allows HUD to offer assistance to affected families living in these counties. Effective immediately, the HUD is:

  • Provide immediate relief from foreclosure – The HUD’s automatic 90-day moratorium on foreclosures of Federal Housing Administration (FHA) insured mortgages began on the date of the Presidential Declaration of Major Catastrophe, and foreclosures of mortgages to Native American borrowers guaranteed under the Indian Section 184 Home Loan Guarantee Program. For assistance, call your loan officer or the FHA Resource Center at 1-800-304-9320.
  • Make mortgage insurance available – HUD’s Section 203 (h) program provides FHA insurance to disaster victims whose homes have been destroyed or damaged to such an extent that reconstruction or replacement is necessary and face the arduous task of rebuilding or buy another house. Borrowers from participating FHA Approved Lenders are eligible for 100 percent financing, including closing costs.
  • Make insurance available for mortgages and home renovations – HUD’s Section 203 (k) Loan Program allows those who have lost their home to finance the purchase or refinancing of a home as well as its repair through a single mortgage. It also allows homeowners who have damaged homes to finance the rehabilitation of their existing single-family home.
  • Sharing information about housing providers and HUD programs– The Department will share information with FEMA and the state on housing providers who may have units available in affected counties. This includes public housing agencies, tribal-designated housing entities, and multi-family landlords. The Department will also connect FEMA and the state with subject matter experts to provide information on HUD programs and providers.
  • Provide flexibility to beneficiaries of community planning and development– Beneficiaries of the Community Development Block Grant (CDBG) program, the Housing Opportunities for Persons With HIV / AIDS (HOPWA) program, the Continuum of Care (CoC) program, the Emergency Solutions Grants (ESG) program, the HOME program and the Fund Housing Trust (HTF)) funds may request the administrative flexibility needed in response to natural disasters. For more information on requesting a waiver, contact your local Community Planning and Development Program office. Contact details can be found here.
  • Offer flexibility to social housing authorities– Public housing authorities can request the necessary administrative flexibility through disaster exemptions. For detailed information on claiming a waiver, click for the latest Federal Register Disaster Relief Notice guidelines. The ministry also released PIH Notice 2021-14, which allowed administrative flexibilities to waive or establish alternative requirements for many legal and regulatory requirements for various public housing programs. As a reminder, to be eligible for a disaster exemption, the PHA must be located in an active area declared by the President for Major Disaster Reporting (MDD) and submit a waiver within four months of a disaster.
  • Provide flexibility to tribes– Tribes and their tribally designated housing entities can request the necessary administrative flexibility through regulatory exemptions. For detailed information on how to request a waiver, Tribes and TDHEs should contact their local Native American Programs office or send an email to [email protected]
  • Ensure that HUD-approved housing counseling agencies are ready to help– HUD-approved housing counseling agencies have counselors available to assist those affected by natural disasters to determine assistance needs and available resources. Find a HUD-approved housing counseling agency.
  • Help with housing discrimination– Housing discrimination sometimes occurs when people try to find housing following a disaster. HUD’s Fair Housing and Equal Opportunity Office is available to help people who believe they have experienced housing discrimination. If you believe your rights have been violated, you should file a Fair Housing complaint with the US Department of Housing and Urban Development (HUD). You can file a complaint by calling HUD at 1-800-669-977 or by visiting How to File a Complaint on the HUD website. Materials and help are available for those with limited English proficiency. People who are deaf or hard of hearing can contact the Ministry using the Federal Relay Service at 800-877-8339. You should file a complaint with HUD as soon as possible. HUD may not be able to help you if your complaint is filed more than a year after the last discrimination. You can also file a complaint with a state or local fair housing agency. A list of state and local equitable housing agencies funded by HUD is available on the HUD website here.

Read about these and other HUD programs designed to help disaster victims.

Disclaimer

US Department of Housing and Urban Developmentpublished this content on 01 October 2021and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 01 October 2021 20:52:02 UTC.


Reviews | “The moratorium saved us. He really did.



If the main lessons we learn from the eviction moratorium are about how to configure a better moratorium for the next national emergency, we will have failed. We should be dedicated to building a better housing system, a system that ensures we don’t face a deportation crisis in the next pandemic – or next year. Under normal circumstances, seven evictions per minute are filed nationwide; this rate is roughly more than three times that of Spain, France, England and several other industrialized countries. The fact that the pandemic immediately sparked an eviction crisis in the United States revealed that our rental sector is deeply unsustainable.

But now we finally have a chance to take bold action on housing. After years of congressional neglect, federal lawmakers are currently considering the Build Back Better Act, which would invest $ 327 billion in affordable housing over the next decade. This money would be used to extend rent assistance to millions of families in difficulty, modernize social housing, finance the construction of rental housing, etc. It would be a long overdue investment in housing, unlike anything we have seen in generations.

As lawmakers debate what is included in the final bill, making deals between moderates and progressives, I hope they will remember that any comprehensive poverty reduction plan must include investments in affordable housing. . When we raise incomes at the bottom of the ladder, for example by expanding the child tax credit, a laudable program in itself, without addressing the housing crisis, those gains are often clawed back by landlords, not entirely by landlords. families.

A 2019 study by the Federal Reserve Bank of Philadelphia found that when states raised minimum wages, it initially made it easier for families to pay rent. But landlords quickly responded to wage increases by raising rents, which diluted the effect of the policy. This is already happening today, but we prefer to discuss it using the bloodless language of inflation.

When the moratorium on evictions was in place, millions of Americans could worry about something else for a change. For Ms. Higbee, it was her health. She was able to build a care team focused on her seizures. She found a lawyer to help her file a disability claim. With the moratorium covering her family, Ms Higbee was able to go to the hospital for a neurological assessment. “The moratorium saved us,” she said. “It really is.”

For my part, I am grateful that he did. But I want to live in a country where Ms. Higbee didn’t need to save in the first place. I want to live in a country that “cares more about the good condition of human beings than the good condition of property”, as Aristotle says in “Politics”.

We can collectively recognize the basic human need for housing by finally establishing it as a right in this country. We would be late for the holiday – Canada, Spain, Belgium and several other countries have already recognized housing as a right – but we could compensate by expanding housing options in creative ways.


Santa Maria Brewing Co. assists veterans and families of deceased first responders



COURTESY PHOTO
Each sale of Santa Maria Brewing Co.’s new Tunnel To Towers Bravest Golden Ale will be used to help veterans, Gold Star families and the families of deceased first responders.

Santa Maria Brewing Co. launches beer Friday to raise funds to help injured veterans, families of deceased first responders and Gold Star families across the United States

Half of the proceeds from the sale of each Tunnel To Towers Bravest Golden Ale will go to the Tunnel to Towers Foundation and its mission to build mortgage-free “smart” homes for injured veterans and pay off mortgages on homes of the deceased first responders and The Gold Star Families.

The Bravest Golden Ale will debut at a launch party Friday at the Santa Maria Brewing Co. taprooms in Nipomo and Atascadero. Byron Moles, CEO and owner of the company, will be in attendance.

“Seeing what the Tunnel to Towers Foundation has done over the years, for first responders and veterans, I was prompted to reach out and ask if we could help them further,” Mr. Moles in a press release. “I wanted to give our employees the opportunity to give back to the men and women who protect us and give us the freedom to do what we love. It is the most humble and honored partnership I have ever been able to participate in. “

Mr Moles said there was added importance because this year marks the 20th anniversary of the September 11 attacks. “Even 20 years after the attack, I feel like it was yesterday. Seeing all the first responders running to and up the towers to save lives regardless of their own is all American Heroes are! We all said, “Never forget. It’s a chance to remind people of what happened 20 years ago and to do good in the process. “

In addition to being on tap in the tap rooms of Santa Maria Brewing Co., Bravest Golden Ale will be sold in cans wherever Santa Maria Brewing Co. beers are sold. The beer is brewed with Huell Melon and Cascade hops.

And the beer is produced on the east coast by Flagship Brewing Co., based in Staten Island.

“This is the first time that Tunnel to Towers has partnered with a brewery in our 20-year history,” said Frank Siller, president and CEO of the foundation. “We are delighted to have this first of its kind brew on both sides of the country in honor of our 20th anniversary.”

For more information, visit santamariabrewing.co. (This is a “co”, not a “com.”) To learn more about the Tunnel to Towers Foundation, visit t2t.org.

e-mail: [email protected]


Top 10 States for Homeowners



Day2505 / Shutterstock.com home

Editor’s Note: This story originally appeared on SmartAsset.com.

Home ownership is often seen as a fundamental pillar of investing and building wealth. While real estate markets vary from city to city, home values ​​have historically increased over the decades.

In fact, home values ​​in the United States have increased nearly 17% in the past year, reaching $ 298,933 at the end of July 2021, according to Zillow. But appreciation is only one financial component of home ownership.

Closing costs, property taxes, and insurance also determine whether home ownership is a good investment for a potential buyer.

As real estate markets remain hot, SmartAsset set out to determine which states are best for homeowners. We compared the 50 states across 10 metrics: median home value, home appreciation, home value to household income ratio, foreclosures per 10,000 homes, annual average home insurance, burglary rate, Median annual property taxes, effective property tax rate, average closing costs, and average closing costs as a percentage of the median home value.

This is SmartAsset’s seventh best states for homeowner study. The 2020 version is available here. For a breakdown of our data sources and how we put all the information together to create our final ranking, read the Data and Methodology section at the end.

Here are the best reports for homeowners.

1. Idaho

Boise, Idaho
Charles Knowles / Shutterstock.com

Nowhere in the United States did home values ​​increase more between July 2020 and July 2021 than in Idaho, where home prices rose 34.60%.

Idaho also has the fifth-lowest foreclosure rate in the country, at just 0.21 per 10,000 homes, which contributes to its place at the top of the rankings.

Meanwhile, Gem State has the lowest average annual home insurance ($ 940) and the ninth highest median home value ($ 308,236).

2. Utah

Sandy, Utah
Uladzik Kryhin / Shutterstock.com

Utah ranks # 2 in this study thanks in part to a 26.84% increase in home values ​​between July 2020 and July 2021 (third highest overall).

Utah also ranks very well for median home value ($ 376,455), which is the sixth highest in our study.

The state’s average annual home insurance is the fourth lowest in the country ($ 711), while closing costs are just 1.26% of the median home value, the ninth lowest in 50 states. Utah also ranks 10th for effective property tax rate (0.58%).

3. New Hampshire

Manchester, New Hampshire
Sean Pavone / Shutterstock.com

New Hampshire homes appreciated more than 21% between July 2020 and July 2021, the eighth-highest rate in our study.

Meanwhile, Granite State has the lowest burglary rate (126.3 per 100,000 population) and the fifth lowest average annual home insurance rate ($ 773).

4. Maine

Portland Maine Lighthouse
EJJohnson Photography / Shutterstock.com

Maine is in the top 10 on three different measures. Pine Tree State saw the nation’s fourth largest increase in home values ​​between July 2020 and July 2021, when homes gained 22.27% in value.

Maine also has the fourth lowest burglary rate (174.8 per 100,000 population) and the sixth lowest average annual home insurance rate ($ 849).

5. Massachusetts

Springfield, Massachusetts
Sean Pavone / Shutterstock.com

The median home value in Massachusetts is $ 444,127, the fourth highest among the 50 states. Meanwhile, closing costs in Massachusetts are 1.06% of the median home value, the fifth lowest in the study.

Like New Hampshire and Maine, Bay State also has a relatively low burglary rate, around 179 burglaries per 100,000 population (fifth lowest).

6. Oregon

Portland, Oregon
photomatz / Shutterstock.com

Closing costs in Oregon are just 1.05% of the median home value, the fourth lowest in the entire study.

Oregon also has the sixth fewest foreclosures per 10,000 homes (0.27) and the seventh median home value ($ 381,871).

7. Montana

Colton Stiffler / Shutterstock.com

Montana ranks fourth for its low foreclosure rate (0.20 per 10,000 homes) and 10th for low closing costs as a percentage of median home value (1.32%).

Montana home values ​​rose 20.66% between July 2020 and July 2021, the 11th highest appreciation rate in the entire study. Meanwhile, the median value of a home in Big Sky Country is $ 304,190 (15th highest overall).

8. Rhode Island

Providence, Rhode Island
Jon Bilous / Shutterstock.com

New England’s fourth state in this year’s top 10, Rhode Island has relatively low closing costs compared to median home value (1.16%), the seventh lowest overall.

For those who might consider switching from renting to buying here, two other important points to consider are that the Ocean State has the 10th median home value ($ 314,588) and the 10th largest appreciation between July 2020. and July 2021 (20.72%).

9. Washington

Seattle
cdrin / Shutterstock.com

Washington state, which has the nation’s third median home value ($ 434,216), saw home values ​​appreciate 22.01% between July 2020 and July 2021 (the sixth largest increase). Closing costs in Washington are 1.09% of the median home value, the sixth lowest in the study. Meanwhile, Washington has the 10th lowest foreclosure rate in the country, just 0.38 per 10,000 homes.

10. Colorado

Park in Arvada, Colorado
Colophotos / Shutterstock.com

Colorado sports the third lowest effective property tax rate (0.49%), while average closing costs are 1.02% of the median home value, also the third lowest.

Colorado also has the fifth median home value in the country ($ 421,063). Specifically, Aurora, Colorado has a spot in our latest study of the top 10 rising housing markets in the United States.

Data and methodology

Entering data on a laptop
baranq / Shutterstock.com

To find the best states for homeowners, we compared data from all 50 states out of a total of 10 metrics. Six of these measurements were given full weight, as shown below:

  • Median house value. The data comes from the Census Bureau’s 2019 one-year U.S. community survey.
  • Appreciation of the value of the house. This is the percentage change in the median home value from July 2020 to July 2021. Data is from Zillow.
  • House value / household income ratio. This is the median home value divided by the median household income. The data comes from the Census Bureau’s 2019 one-year U.S. community survey.
  • Foreclosures for 10,000 households. The data is from SoFi and is from July 2021.
  • Average annual home insurance. The data is from ValuePenguin and is as of August 2021.
  • Burglary rate. This is the number of burglaries per 100,000 inhabitants. The data comes from the FBI and is for 2019.

We assigned half a weight to the remaining four measures:

  • Median annual property taxes. The data comes from the Census Bureau’s 2019 one-year U.S. community survey.
  • Effective rate of property tax. This is the median of the annual property taxes paid divided by the median value of the home. Data for both components come from the 2019 U.S. Community Survey from the Census Bureau.
  • Average closing costs. The data is from SmartAsset’s closing cost calculator and is as of August 2021.
  • Average closing costs as a percentage of median home value. These are the average closing costs divided by the median value of the house. The data comes from SmartAsset’s Closing Cost Calculator and the Census Bureau’s 2019 one-year U.S. Community Survey.

We ranked each state on each metric, and using the weights described above, we found the average ranking for each state. From there, we created our final score.

The state with the best average ranking received a score of 100 while the state with the worst average ranking received a score of 0.

Disclosure: The information you read here is always objective. However, sometimes we receive compensation for clicking on links in our stories.


Rising bond yields scare investors, deflate tech stocks | national news



Tech companies led a large decline in stocks on Wall Street on Tuesday, accentuating the market’s collapse in September.

The sell-off came as a rapid rise in Treasury yields is forcing investors to reassess whether prices have been too high for stocks, especially the more popular ones.

The S&P 500 was down 1.5% at 3:21 p.m. EST, while the Dow Jones Industrial Average lost 389 points, or 1.1%, to 34,479. The tech-rich Nasdaq reported fell 2.5%. Descenders outnumbered New York Stock Exchange advances 3 to 1.

The downturn lost momentum at the end of the afternoon. Earlier today, the S&P 500 was on the verge of its biggest drop since May, while the Dow Jones was down more than 600 points.

The yield on the 10-year Treasury bill, a benchmark for many types of loans, including mortgages, jumped to 1.54%. This is its highest level since the end of June, against 1.48% Monday night and 1.32% a week ago.

Higher yields mean Treasuries pay more interest, causing investors to pay less high prices for stocks and other things that are riskier bets than super-safe US government bonds. . The recent rate hike has hit tech stocks particularly hard, as their prices appear to be more expensive than the rest of the market, relative to their earnings.

There have also been many tech stocks recently offered due to expectations of significant earnings growth in the distant future. When interest rates are low, an investor doesn’t lose much by paying high prices for the stock and waiting years for growth to occur. But when Treasuries pay more in the meantime, investors are less willing.

This week’s slump for the market is reminiscent of an episode earlier this year when expectations of rising inflation and a stronger economy pushed Treasury yields up sharply. The 10-year rate jumped to nearly 1.75% in March after starting the year around 0.90%. Tech stocks were also hit hard by this slowdown.

Chipmaker Nvidia fell 3.7%, Apple slipped 2%, and Microsoft fell 3.1%. The wider tech sector is also facing a global shortage of chips and parts due to the virus pandemic and this could worsen as an electricity crisis in parts of China closes factories. .

Communication companies have also weighed on the market. Facebook fell 3.1% and Google’s parent company Alphabet fell 3.2%.

Energy was the only sector in the S&P 500 that was not in the red. Exxon Mobil rose 1.1% and Schlumberger rose 3.2% for the biggest gain among S&P 500 stocks.

Another lingering market concern originating in China is the possible collapse of one of China’s largest real estate developers. Evergrande Group is struggling to avoid default on billions of dollars in debt.

Asian markets were mixed while European markets fell.

Investors faced a turbulent market in September as they tried to assess the progress of the economic recovery and its impact on various industries. The S&P 500 is down 3.4% so far in September and heading towards its first monthly loss since January.

COVID-19 remains a persistent threat and continues to wreak havoc on businesses and consumers. Economic data on consumer spending and the labor market are mixed. US consumer confidence fell for the third consecutive month in September, according to a Conference Board report.

Companies warn that supply chain issues and rising prices could hurt sales and profits. The Federal Reserve has maintained that the rise in inflation is temporary and linked to these supply chain issues as the economy recovers from the pandemic. Investors continue to fear that higher inflation may no longer be permanent, and rising bond yields reflect some of these concerns.

“At the end of the day, the supply chain thesis is really tested and the Fed, businesses and consumers have had to react to some of the realities on the ground,” said Eric Freedman, chief investment officer at US Bank Wealth Management. .

———

AP Business Writer Stan Choe contributed.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


Asian Stocks Track Large Drop on Wall St as Inflation Looms | national news



Asian stocks fell sharply on Wednesday after a large drop on Wall Street as investors reacted to a surge in US government bond yields.

Tokyo’s Nikkei 225 fell 2.6% to 29,395.14 and Seoul’s Kospi fell 2% to 3,036.86. The Shanghai Composite Index lost 1.8% to 3,537.60. In Sydney, the S & P / ASX 200 lost 1.1% to 7,198.40.

Hong Kong’s Hang Seng Index fell more modest 0.5% to 24,374.62 after struggling real estate developer Evergrande Group said it was selling a stake in Shengjing Bank for $ 9.9 billion yuan ($ 1.5 billion) – a step towards resolving its cash flow crisis.

Hong Kong-traded Evergrande shares jumped 10.5% at noon.

A rapid rise in Treasury yields is forcing investors to reassess whether prices have been too high for stocks, especially the more popular ones. The 10-year Treasury yield jumped to 1.54%, its highest level since late June. This is up from 1.32% a week ago.

On Tuesday, the benchmark S&P 500 fell 2%, its worst drop since May, and the tech-rich Nasdaq fell 2.8%, its worst drop since March. Descenders outnumbered New York Stock Exchange advances 4 to 1.

The benchmark S&P 500 is down 3.8% since the start of the month and on pace with its first monthly loss since January after gaining nearly 16% since the start of 2021.

Bond yields started rising last week after the Federal Reserve sent the clearest signals yet that the central bank is moving closer to start pulling back the unprecedented support it has provided to the economy throughout throughout the pandemic. The Fed has indicated that it may start raising its benchmark interest rate over the next year and will likely start slashing the pace of its monthly bond purchases before the end of this year.

Higher yields mean Treasuries pay more interest, causing investors to pay less high prices for stocks and other things that are riskier bets than super-safe US government bonds. . The recent rate hike has hit tech stocks particularly hard, as their prices appear to be more expensive than the rest of the market, relative to their earnings.

The S&P 500 lost 90.48 points to 4,352.63. The Dow Jones Industrial Average lost 1.6% to 34,299.99.

Small business stocks also lost ground. The Russell 2000 Index fell 2.2% to 2,229.78.

Chipmaker Nvidia fell 4.4%, Apple slipped 2.4%, and Microsoft fell 3.6%. The wider tech sector is also grappling with a global shortage of chips and parts due to the virus pandemic. It could get worse as factories in parts of China are slowed down by power shortages.

Communication companies have also weighed on the market. Facebook and Google’s parent company Alphabet each fell 3.7%.

Energy was the only sector in the S&P 500 that was not in the red. Exxon Mobil rose 1% and Schlumberger gained 2.4% for the biggest gain among S&P 500 stocks.

COVID-19 remains a persistent threat and continues to wreak havoc on businesses and consumers. Economic data on consumer spending and the labor market are mixed. US consumer confidence fell for the third consecutive month in September, according to a Conference Board report.

Companies warn that supply chain issues and rising prices could hurt sales and profits. The Federal Reserve has maintained that the rise in inflation is temporary and linked to these supply chain disruptions as the economy recovers from the pandemic.

In other exchanges, US benchmark crude oil fell $ 1.13 to $ 74.16 per barrel in electronic trading on the New York Mercantile Exchange. It lost 16 cents to $ 75.29 a barrel on Tuesday.

Brent crude oil, the standard for international prices, fell $ 1.17 to $ 77.18 per barrel.

The US dollar edged up to 111.49 yen from 111.48 yen. The euro went from $ 1.1683 to $ 1.1686.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


How Montana Mortgage Debt Compares to Other States State



The COVID-19 pandemic has fueled an increase in demand among home buyers that is only now starting to show signs of slowing down. This historic demand has coincided with low borrowing costs, a limited housing stock and labor and material bottlenecks that have hampered new construction. These factors have pushed home values ​​to all-time highs, forcing many buyers to take out mortgages that put them in heavy debt.

According to a recent report from Experian, a consumer credit reporting company, US homeowners with mortgages had an average outstanding balance of $ 229,242 in 2020. Mortgage debt can be affected by several regional factors and, hence, the amount of debt of US homeowners. reimburse varies widely from state to state.

The average mortgage debt in Montana is $ 206,561, more than in most states, but about $ 22,700 less than the national average.

Montana is one of the few states with below-average mortgage debt and where homes are less affordable than average. The typical Montana home is worth $ 253,600, 4.4 times more than the state’s median household income of $ 57,153. Meanwhile, the nationally comparable accessibility ratio is lower, at 3.7 to 1.

All of the mortgage debt data used in this article comes from the 2020 Credit Report Report from Experian, a consumer information agency. Average mortgage debt is a measure of the average first mortgage balance per consumer who had an open first mortgage account. Figures for median home value, median household income, homeownership rates, and share of owner-occupied households with a mortgage come from the 2019 American Community Survey from the U.S. Census Bureau.

Rank State Average mortgage debt ($) Median house value ($) Median household income ($) Homeowners with a mortgage (%)
50 West Virginia 128,004 124,600 48,850 46.4
49 Mississippi 135,374 128,200 45,792 49.1
48 Indiana 140 915 156,000 57,603 65.2
47 Ohio 142,293 157,200 58,642 62.1
46 Arkansas 143,066 136,200 48 952 53.0
45 Kentucky 143,329 151,700 52,295 56.9
44 Iowa 146,408 158,900 61,691 59.9
43 Oklahoma 147,538 147,000 54,449 54.4
42 Michigan 150,482 169,600 59,584 59.3
41 Missouri 155 203 168,000 57,409 60.2
40 Kansas 155,277 163,200 62,087 57.9
39 Nebraska 156,568 172,700 63 229 59.5
38 Wisconsin 160 116 197,200 64 168 62.7
37 Alabama 160,341 154,000 51,734 55.3
36 Louisiana 165,572 172,100 51 073 51.7
35 Maine 167,615 200,500 58,924 60.5
34 Vermont 172,919 233,200 63,001 61.7
33 South Dakota 173,005 185,000 59,533 55.6
32 New Mexico 174,292 180 900 51 945 52.9
31 Pennsylvania 175 648 192,600 63,463 59.1
30 North Dakota 181,930 205,400 64,577 52.1
29 Caroline from the south 183,603 179,800 56 227 58.0
28 Tennessee 184,360 191,900 56,071 58.2
27 North Carolina 188,520 193,200 57,341 63.2
26 Illinois 189,808 209,100 69,187 62.4
25 Georgia 196,030 202,500 61 980 64.2
24 Minnesota 198,039 246,700 74,593 65.1
23 Texas 201 084 200 400 64,034 56.1
22 Montana 206,561 253,600 57 153 55.4
21 New Hampshire 208,570 281,400 77 933 64.9
20 Idaho 208,645 255,200 60,999 64.3
19 Wyoming 208,716 235,200 65,003 59.2
18 Delaware 210 933 261,700 70 176 65.5
17 Florida 214,203 245,100 59 227 56.3
16 Rhode Island 217,019 283,000 71,169 66.3
15 Arizona 229,332 255,900 62,055 62.4
14 Alaska 244,840 281,200 75,463 60.8
13 Connecticut 247,241 280,700 78 833 66.2
12 Nevada 253,602 317,800 63,276 67.4
11 Utah 258 635 330,300 75,780 70.1
ten Oregon 261 147 354,600 67,058 66.1
9 Virginia 269,570 288,800 76,456 67.7
8 New Jersey 270,329 348,800 85 751 65.6
7 Maryland 274 311 332,500 86,738 71.9
6 new York 274,349 338,700 72 108 59.6
5 Massachusetts 292,513 418,600 85,843 68.3
4 Colorado 297,813 394,600 77,127 70.8
3 Washington 307,407 387,600 78 687 67.7
2 Hawaii 387,977 669,200 83,102 64.4
1 California 396,229 568,500 80,440 69.0


At least 3 dead in Amtrak train derailment in Montana – FOX 2



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At least three dead after Amtrak train derailed in remote Montana



JOPLIN, Montana. – At least three people were killed Saturday afternoon when an Amtrak train that runs from Seattle to Chicago derailed in north-central Montana, knocking several cars onto its side, authorities said.

The westbound Empire Builder train derailed around 4 p.m. near Joplin, a town of about 200 residents, Amtrak spokesman Jason Abrams said in a statement. The crash site is approximately 150 miles northeast of Helena and approximately 30 miles from the border with Canada.

Liberty County Sheriff’s dispatcher Starr Tyler told The Associated Press that three people died in the derailment. She didn’t have more details. Amtrak confirmed the deaths and said there were several injuries.

“We are deeply saddened to learn that local authorities now confirm that three people have lost their lives as a result of this accident,” said Abrams.

The train had around 141 passengers and 16 crew on board, Abrams said. The train had two locomotives and 10 cars, eight of which derailed, he said.

“We are deeply saddened to learn that local authorities now confirm that three people have lost their lives as a result of this accident,” said Abrams.

Megan Vandervest, a passenger who was going to visit a friend in Seattle, told the New York Times that she was awakened by the derailment.

“My first thought was that we were derailed because, to be honest, I have anxiety and I had heard stories of trains going off the rails,” said Vandervest, from Minneapolis. “My second thought was it’s crazy. We would not be derailing. Like, that doesn’t happen.

She told The Times that the car behind hers was tilted, the one behind that had overturned, and the three cars behind that “completely fell off the rails and pulled away from the train.”

Speaking from the Liberty County Senior Center, where some passengers were being taken, Vandervest said it sounded like “extreme turbulence on a plane.”

Residents of communities near the crash site quickly mobilized to help passengers.

Chester City Councilor Rachel Ghekiere said she and others helped around 50 to 60 passengers who were taken to a local school.

“I went to school and brought water, food, wiping the dirt off faces,” she said. “They seemed tired, shaken up but happy to be where they were. Some looked more disheveled than others, depending on where they were on the train.

A grocery store in Chester, about 5 miles from the derailment, and a nearby religious community provided food, she said.

The passengers were taken by bus to hotels near Shelby, said Ghekiere, whose husband works for the local emergency services agency and has been alerted to the crash.

The National Transportation Safety Board will send a 14-member team, including investigators and specialists in railway signals and other disciplines, to investigate the crash, spokesman Eric Weiss said.

Weiss said the derailment occurred around 3:55 p.m. and no other train or equipment was involved. The train was running on a main line of the BNSF railway at the time, he said.

Photos posted on social media showed wagons on their side and passengers standing along the tracks, some carrying luggage. The footage showed sunny skies and it appeared that the accident had occurred along a straight section of track.

Amtrak said that due to the derailment, the Sunday Westbound Empire Builder will end in Minneapolis, and the Sunday Eastbound Empire Builder train will depart Minneapolis.

In this photo provided by Kimberly Fossen, people work at the scene of an Amtrak train derailment on Saturday, September 25, 2021, in north-central Montana. Several people were injured when the train from Seattle to Chicago derailed on Saturday, the train agency said. (Kimberly Fossen via AP)PA

Allan Zarembski, director of the University of Delaware’s railway engineering and safety program, said he did not want to speculate but suspected the derailment was due to a problem with the track or equipment, or a combination of the two.

Railways have “virtually eliminated” major derailments by human error after the implementation of nationwide positive train control, Zarembski said.

“I would be surprised if this was a human factor derailment,” Zarembski said.

Depending on the complexity of the cause of the derailment, the NTSB’s findings can take months, he added, as investigators must interview witnesses and sift through the stack and damage to collect evidence and then send in evidence. samples for further testing.

Other recent Amtrak derailments include:

  • April 3, 2016: Two maintenance workers were struck and killed by an Amtrak train traveling over 100 mph in Chester, Pennsylvania. The lead locomotive of the train derailed.
  • March 14, 2016: An Amtrak train from Los Angeles to Chicago derailed in southwestern Kansas, derailing five cars and injuring at least 32 people. Investigators concluded that a feed delivery truck struck the track and moved it at least 30 cm before the derailment.
  • October 5, 2015: A passenger train from Vermont to Washington, DC derailed when it struck rocks that had fallen on the track from a ledge. The locomotive and a passenger car spilled onto an embankment, derailing three other cars and injuring seven people.
  • May 12, 2015: Amtrak train 188 was traveling at twice the 50 mph speed limit when it entered a tight bend in Philadelphia and derailed. Eight people were killed and more than 200 were injured when the locomotive and four of the train’s seven cars hit the tracks. Several cars overturned and torn apart.

Amy Beth Hanson and Tarek Hamada of The Associated Press wrote this story.

Hamada reported from Phoenix. Associated Press Tom Krisher in Detroit and Michelle Liu in Columbia, South Carolina, contributed to this report.

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Today’s mortgages, refinancing rate: September 25, 2021



Today’s mortgage and refinance rates are generally low, although fixed rates are significantly lower than adjustable rates. It could be a good day to lock in a historically low rate.

Mortgage rates will likely stay low for the remainder of 2021. To take advantage of today’s low interest rates, apply for pre-approval from at least one lender to lock in a rate.

How mortgage rates work

A mortgage interest rate is the commission a lender charges for borrowing money, expressed as a percentage. For example, you get a mortgage loan of $ 300,000 with an interest rate of 2.5%.

Mortgage rates can be fixed or adjustable. A fixed rate mortgage keeps your rate at the same level for the life of your loan. A variable rate mortgage locks in your rate for the first few years or so, then changes it periodically. With an ARM 7/1, your rate would stay stable for the first seven years, then change every year.

The longer the term of your mortgage, the higher your rate will be. For example, you will pay more with a 30-year mortgage than a 15-year mortgage. However, longer terms come with lower monthly payments as you spread out the repayment process.

Today’s Mortgage and Refinance Rates

Mortgage rates today

Money.com conventional rates; RedVentures government guaranteed rates.

Today’s refinance rate

Money.com conventional rates; RedVentures government guaranteed rates.

How to get the best mortgage rate

Here are some steps you can take to get the best possible mortgage rate:

  • Get a fixed rate mortgage. You can ask your particular lender what their fixed rates are versus adjustable rates. But in general, fixed rates start lower than adjustable rates. Rates are also at historic lows, so you would see a low rate instead of risking an increase later with an ARM.
  • Look at your finances. The stronger your financial situation, the lower your mortgage rate should be. Look for ways to improve your credit score or reduce your debt-to-income ratio, if necessary. Saving for a larger down payment also helps.
  • Choose the right lender. Each lender charges different mortgage rates. Choosing the one that is right for your financial situation will help you get a good rate.

How to choose a mortgage lender

First, think about what type of mortgage you want. The best mortgage lender will be different for an FHA mortgage than for a VA mortgage.

A lender should be relatively affordable. You shouldn’t need a very high credit score or down payment to get a loan. You also want it to offer good rates and charge reasonable fees.

Once you’re ready to start shopping for homes, apply for pre-approval with your top three or four choices. A pre-approval letter indicates that the lender wants to lend you up to a certain amount, at a specific interest rate. When you are pre-approved, your mortgage rate is locked in for 60 to 90 days. With a few pre-approval letters in hand, you can compare each lender’s offer.

When you apply for pre-approval, a lender does a serious credit check. A bunch of serious inquiries on your report can hurt your credit score, unless it’s to buy the best rate.

If you limit your rate purchases to about a month, the credit bureaus will understand that you are looking for a home and should not hold back each individual claim against you.


States with the most mortgage debt – 24/7 Wall St.



Special report

The COVID-19 pandemic has fueled an increase in demand among homebuyers who only now starts at show to signns of slowing down. This historic demand has coincided with low borrowing costs, a limited housing stock and labor and material bottlenecks that have hampered new construction. These factors have pushed home values ​​to all-time highs, forcing many buyers to take out mortgages that put them in debt.

According to a recent report from Experian, a consumer credit reporting company, US homeowners with mortgages had an average outstanding balance of $ 229,242 in 2020. Mortgage debt can be affected by several regional factors and, hence, the amount of debt of US homeowners. reimburse varies widely from state to state.

Using data from Experian Credit Report 2020, 24/7 Wall St. identified the states with the highest average mortgage debt. States are ranked according to the average debt of homeowners with a mortgage.

All other things being equal, average mortgage debt is affected the most by real estate values. Overwhelmingly, in states where the median home value is below the national median of $ 240,500, the average mortgage debt is also below the national average. Likewise, in states where home values ​​are above the national median, mortgage debt also tends to be above average. Here’s a look at the states where people struggle with the most debt..

High real estate values ​​also increase the likelihood that homebuyers will need to take out a mortgage in the first place. In nine of the 10 states with the highest median home value, the share of homeowners with a mortgage exceeds the share of 61.7% nationally. Here’s a look at the average cost of a home in each state..

Depending on the state, the average debt ranges from as little as $ 128,000 to almost $ 400,000.

Click here to see the states with the most mortgage debt
Click here to read our detailed methodology


Phoenix # 1 in Home Price Hikes for 25 Consecutive Months



The US Census Bureau released franchise statistics from the 2017 Economic Census on August 26. Almost 300 different types of businesses are franchises, although the only data available at the state level is for full and limited-service restaurants. Comparing Arizona to the United States, 41.6% of restaurants (combined total of full and limited service) in Arizona were franchise establishments, while the figure was 35.0% for the United States. Limited-service restaurants were much more likely to be franchised establishments, as 63.2 percent of limited-service restaurants in Arizona were franchises and 57.3 percent nationally. For full and limited service restaurants, the owner is more likely to be a franchisee than a franchisor.


READ ALSO: Are Short-Term Rental Investors Ruining the Arizona Housing Market?


June was the 25the consecutive month Phoenix topped house price increases in the S&P CoreLogic Case-Shiller report, by 29.3% year-on-year. Nationally, home price increases hit a record high in June with an annual gain of 18.6 percent – the largest increase in over 30 years. All of the metropolitan areas included in the report saw double-digit year-over-year house price increases in June, with Chicago posting the smallest increase at 13.3%. Phoenix, San Diego and Seattle were the top three regions with respective increases of 29.3%, 27.1% and 25.0%. The 20-city composite posted a gain of 19.1% according to the August 31 press release.

US house prices rose 17.4% year-on-year in the second quarter of 2021, making it the 40e consecutive quarter of house price increases according to the house price index of the Federal Housing Finance Agency. All states posted year-over-year price appreciation for the second quarter of 2021. The five states with the largest price increases were Idaho at 37.1%, Utah at 28.3%, Arizona at 23.9%, Montana at 23.7% and Rhode Island at 23.7%. Given that the top four states are in the mountain region, it’s no surprise that this is the region of the country with the largest price increases. The report provides data on regions, states and the 100 largest metropolitan areas for the buying index only. The All Transaction Index, which includes purchase and refinance mortgages, provides price appreciation data for all metropolitan areas. Three Arizona subways ranked among the top metropolitan areas on the All-Transaction Index: Lake Havasu City-Kingman at 20.4%, Phoenix at 19.5% and Prescott Valley-Prescott at 17.7%. Arizona’s other metropolitan areas saw increases of 18.2% in Yuma, 16.8% in Flagstaff, 16.7% in Sierra Vista-Douglas and 15.7% in Tucson.

July unemployment rates were lower than the same month a year ago for all metropolitan areas except one included in the September 1 metropolitan area employment and unemployment release. Only Pueblo, CO had a higher rate than a year ago. All of Arizona’s metropolitan areas had July unemployment rates several percentage points lower than a year ago (ranging from 2.9 percentage points in Sierra Vista-Douglas to 5.0 percentage points in percentage in Flagstaff). Despite a falling unemployment rate, Yuma was the metropolitan area with the highest unemployment rate in the country at 20.1%. The lowest unemployment rate among metropolitan areas was 1.8 percent in Logan, UT-ID.

The United States gained 235,000 non-farm payroll jobs in August, up from a revised, seasonally adjusted increase of 1,053,000 in July. The average monthly increase so far this year has been 586,000 according to the September 3 publication of the Bureau of Labor Statistics’ employment situation. Professional and business services followed by transportation and warehousing were the main sectors where employment increased during the month. The number of people not in the labor force decreased over the month, but was still higher than at the same time last year. The country’s seasonally adjusted unemployment rate fell 0.2 percentage point to 5.2% in August.

The US trade deficit narrowed in July to $ 70.1 billion, from a revised figure of $ 73.2 billion in June. The increase in exports combined with the decrease in imports has contributed to the reduction of the deficit in goods and services. July exports increased $ 2.8 billion to $ 212.8 billion, and imports fell $ 0.4 billion to $ 282.9 billion. Exports of goods increased by $ 2.7 billion and services increased by $ 0.1 billion according to the September 2 joint publication of the US Census Bureau and the US Bureau of Economic Analysis. Year-to-date, the goods and services deficit in July was 37.1% compared to the same period in 2020.

There were 826 bankruptcy filings in Arizona during the month of August, bringing the cumulative total for the year to 6,760, down 25.5% from the same period a year ago. The last time the August cumulative total was this low was in 2007. So far this year, the Phoenix office is down 27.2%, the Tucson office is down 21.4%, and Yuma’s office by 19.6%. La Paz was the only county to have a higher number of filings since the start of the year for August compared to a year ago with 11 this year compared to 10 last year. The Phoenix office includes Apache, Coconino, Gila, Maricopa, Navajo, and Yavapai counties. The Tucson office manages the counties of Cochise, Graham, Greenlee, Pima, Pinal and Santa Cruz, while the Yuma office represents the counties of La Paz, Mohave and Yuma.

Producer prices rose 0.7 percent during the seasonally adjusted month in August according to the Sept. 10 release from the Bureau of Labor Statistics. Final demand goods rose 1.0 for the month, with a 2.9% increase in final demand food prices contributing. Final demand services increased 0.7%. The change in the unadjusted 12-month final demand index was 8.3%, the largest annual increase since November 2010 (when 12-month data was first calculated) .

Valorie H. Rice is the Senior Business Intelligence Specialist at the Center for Business and Economics Research (EBRC) at the Eller College of Management at the University of Arizona.


Asian Stocks, Wall Street Retains Gains After Fed Statement | national news



Asian stocks were mostly higher on Thursday after the Federal Reserve signaled it may start easing its extraordinary support measures for the economy later this year.

Shares rose in Hong Kong, Shanghai, Australia and Taiwan, but fell in South Korea and Malaysia. US futures were higher. Markets were closed in Tokyo.

The US central bank has indicated that it could start raising its benchmark interest rate sometime next year, sooner than it expected three months ago. He also said he would likely start slowing the pace of his monthly bond purchases “soon” if the economy continues to improve. The Fed bought bonds throughout the pandemic to help keep long-term interest rates low.

Markets were also reassured after Evergrande, one of China’s largest private real estate developers, announced it would make a payment due on Thursday. This has likely allayed some concerns about heavily indebted Chinese real estate developers and the potential ripple effects of possible defaults.

In Hong Kong, the Hang Seng index gained 2% to 24,745.96. The Shanghai Composite Index rose 0.6% to 3,651.27. The Australian S & P / ASX 200 jumped 1% to 7,368.40. South Korea’s Kospi fell 0.7% to 3,117.99.

On Wall Street, the S&P 500 rose 1%, breaking a four-day losing streak. The benchmark initially climbed 1.4% after the Fed released its statement at 2 p.m. EST.

The other major indexes also rose, but lost some of their gains late in the afternoon. The Dow Jones Industrial Average rose 1% to 34,258.32. The blue chip index briefly rose 520 points. The Nasdaq composite gained 1% to 14,896.85.

Bond yields mostly increased. The yield on the 10-year Treasury bill fluctuated after the Fed’s announcement, but held steady at 1.31%. Yield influences interest rates on mortgages and other consumer loans.

The Fed’s policy update was in line with market expectations, analysts said. The VIX, a measure of volatility investors expect for the S&P 500, fell about 14% after the Fed’s statement.

“It was telegraphed so well that it didn’t take anyone by surprise,” said Brian Jacobsen, senior investment strategist at Wells Fargo Asset Management.

In a press conference, Federal Reserve Chairman Jerome Powell said the Fed plans to announce as early as November that it will start cutting its monthly bond purchases, if the labor market continues to improve. constant.

The Fed’s shift has revealed that inflation is starting to be a concern, said Gene Goldman, chief investment officer at Cetera Financial Group.

“Our concern is that the Fed continues to stick to its view that this is a transitional phase, but we see no evidence that this is transitional,” he said.

Goldman added that the broader market could see a correction as economic growth slows and inflation persists. “Our concerns about the economy and the market in general are number one, we are at the peak of everything,” he said.

September was a difficult month for stocks. The S&P 500 is down 2.8%.

In addition to concerns about possible Fed policy changes, investors are nervous about the increase in COVID-19 cases due to the highly contagious delta variant and the impact of rising inflation on businesses and consumers.

History does not offer a great guide to how the markets will react to the Fed’s easing of support for the economy, mainly because it has been such a rare event.

In the summer of 2013, Treasury yields rose sharply after the Fed chairman hinted that it might start slowing down its bond buying program. Surprised investors assumed rate hikes would follow quickly as well, pushing the 10-year Treasury yield up to 3%, from less than 2.20% in three months.

But after the Fed announced in December that it would cut back on buying, the 10-year rate did an about-face, falling even as the Fed slashed support for a program to keep rates low.

Despite the turmoil in the bond markets, stock prices have remained relatively stable.

This time around, the 10-year rate has been relatively stable between 1.20% and 1.30% since July, after declining 1.70% in March. Powell has repeatedly emphasized how the Fed will gradually shift from cutting its bond purchases to raising interest rates.

More than 80% of stocks in the S&P 500 Index rose on Wednesday, mainly thanks to tech stocks, banks and companies that rely on direct consumer spending. Energy stocks posted strong gains as the price of US crude oil rose 2.4%. The values ​​of communication and public services have fallen.

Small stocks outperformed the market at large. The Russell 2000 Index rose 1.5% to 2,218.56.

Netflix climbed 3.1% after the streaming entertainment service acquired the works of Roald Dahl, the late British author of famous children’s books such as “Charlie and the Chocolate Factory”.

Facebook fell 4% after the social network told advertisers in a blog post that it underestimated web conversions by users of Apple mobile devices by around 15% following changes to the system Apple’s operating system.

FedEx fell 9.1%, the biggest drop among S&P 500 stocks, after reporting significantly higher costs even as shipping demand increased. Many industries face higher costs due to a mix of labor and supply chain issues.

In other trading Thursday, benchmark US crude oil fell 7 cents to $ 72.16 a barrel in electronic trading on the New York Mercantile Exchange. It gained $ 1.74 to $ 72.23 a barrel on Wednesday.

Brent crude, the international standard, fell 8 cents to $ 75.31 a barrel.

The US dollar rose from 109.76 yen to 109.86 Japanese yen. The euro slipped to $ 1.1688 from 1.1691.

———

AP Business Writers Alex Veiga, Stan Choe and Damian J. Troise contributed.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


Lockdown activity increased in August as moratoria ended – NMP



The national first mortgage default rate fell to 4% in August, the lowest rate since the impact of the COVID-19 pandemic pushed up mortgage defaults in early 2020, Black reported Knight today.

Serious delinquencies – including those in active abstention – fell by 108,000 compared to July. Although they have fallen by more than a million from last August, they are still around 930,000 above pre-pandemic levels, the data and analytics company said. .

Black Knight’s report is its first look at end-of-August 2021 statistics, derived from its database representing the majority of the domestic mortgage market.

There were 7,100 foreclosures beginnings in August, the highest number in eight months after the moratoriums on foreclosures on federally guaranteed loans were lifted in late July, Black Knight said. Despite the increase, mainly due to the restart of the process on loans that were on hold before the moratoriums were imposed, start-up volumes remained 80% below levels a year earlier, the company said.

Additionally, while – up 2,000 to 142,000 – volumes have remained near record lows and are down 44% from pre-pandemic levels, Black Knight said.

Prepayment activity rose nearly 9% in August, as interest rates – which have remained below 3% in recent months – continue to boost refinancing and buying activity.

Overall, more than 2.26 million properties nationwide in August were 30 days or more behind on their loan payments or in foreclosure, Black Knight said. That was down 82,000 from July, but down over 1.6 million in August 2020.

The top five states in non-current percentage – combining foreclosures and defaults as a percentage of active loans – were Mississippi at 7.71%, Louisiana at 7.08%, Oklahoma at 5.81%, Hawaii at 5 , 75% and New York at 5.64%.

The bottom five states were Idaho at 0.207%, Colorado at 2.43%, Washington and Utah at 2.55%, and Montana at 2.67%.


today in history | national news



Today in history

Today is Sunday, September 19, the 262nd day of 2021. There are 103 days left in the year.

The highlight of today’s history:

On September 19, 1796, President George Washington’s farewell speech was published. In it, the first US chief executive advised: “Observe good faith and justice to all nations. Cultivate peace and harmony with all.

To this date :

In 1777, the first battle of Saratoga took place during the War of Independence; although British forces succeeded in driving out American troops, the Americans won a second battle the following month.

In 1881, the 20th President of the United States, James A. Garfield, died two and a half months after being shot by Charles Guiteau; Chester Alan Arthur became president.

In 1945, Nazi radio propagandist William Joyce, known as “Lord Haw-Haw”, was convicted of treason and sentenced to death by a British court.

In 1957, the United States conducted its first contained underground nuclear test, named “Rainier”, in the Nevada desert.

In 1984, Britain and China reached a draft agreement on the transfer of Hong Kong from British rule to Chinese rule by 1997.

In 1985, the Mexico City area was struck by a devastating earthquake that killed at least 9,500 people.

In 1986, federal health officials announced that the investigational drug AZT would be made available to thousands of AIDS patients.

In 1995, the New York Times and the Washington Post published Unabomber Ted Kaczynski’s (kah-ZIHN’-skee) manifesto, which was found to be instrumental in identifying and capturing him.

In 1996, IBM announced that it would extend health benefits to the partners of its gay employees.

In 2001, the Pentagon ordered dozens of advanced planes in the Persian Gulf region as the time for military retaliation against the deadly 9/11 terrorist attacks drew near.

In 2004, Hu Jintao (hoo jin-tow) became the undisputed leader of China with the departure of former President Jiang Zemin (jahng zuh-MEEN ‘) from his highest military post.

In 2008, struggling to avert financial catastrophe, the Bush administration presented a sweeping bailout calling for a takeover of half a trillion dollars or more of worthless mortgages and other bad debt held by shaky institutions. Relieved investors drove stocks up on Wall Street and around the world.

Ten years ago: In a speech at the White House, a combative president, Barack Obama, demanded that the richest Americans pay higher taxes to help reduce by more than $ 3 trillion the growing deficits of the United States. Mariano Rivera set a major league record with his 602nd save, ending the New York Yankees 6-4 victory over the Minnesota Twins. Dolores Hope, who was married to Bob Hope for 69 years and sometimes sang on her shows for American troops and on her television specials, has died in Los Angeles at the age of 102.

Five years ago: President Barack Obama and Iraqi Prime Minister Haider al-Abadi (HY’-dahr ahl ah-BAH’-dee), meeting on the sidelines of a United Nations summit, warned the Islamic State group that they planned to take back the city of Mosul within a few months. World leaders gathered at the United Nations endorsed a declaration aimed at providing a more coordinated and humane response to the refugee crisis, which was straining resources and fueling divisions around the world. Angelina Jolie Pitt has filed for divorce from Brad Pitt, citing irreconcilable differences.

A year ago: President Donald Trump urged the Republican-led Senate to consider his next appointment “without delay” to fill the vacant Supreme Court post created by the death of Justice Ruth Bader Ginsburg in just six weeks before the elections. A law enforcement official said authorities intercepted an envelope addressed to the White House that contained the castor poison. (A Canadian woman was later arrested while attempting to enter the United States near Buffalo, New York, and charged with uttering threats against President Donald Trump while sending the package; she pleaded not guilty. Demonstrators have taken to the streets of London, Tel Aviv and other cities to protest restrictions on coronaviruses, even with infection rates on the rise in many places and the global death toll approaching million.

Today’s Birthdays: Author Roger Angell is 101 years old. Actress Rosemary Harris is 94 years old. Actor David McCallum is 88 years old. Singer-songwriter Paul Williams is 81 years old. Singer Bill Medley is 81 years old. Singer Sylvia Tyson (Ian and Sylvia) is 81 years old. R&B singer Freda Payne is 79 years old. Retired professional golfer Jane Blalock is 76 years old. Singer David Bromberg is 76 years old. Actor Randolph Mantooth is 76 years old. Singer and rock musician Lol Creme (10cc) is 74 years old. Former NFL running back Larry Brown is 74. Actor Jeremy Irons is 73 years old. Actor Twiggy Lawson is 72 years old. TV personality Joan Lunden is 71 years old. Singer-producer Daniel Lanois (lan-WAH ‘) is 70 years old. Actor Scott Colomby is 69 years old. Musician-producer Nile Rodgers is 69 years old. Singer-actor Rex Smith is 66 years old. Rock singer Lita Ford is 63 years old. Actor Kevin Hooks is 63 years old. Actress Carolyn McCormick is 62. Celebrity chef Mario Batali is 61 years old. Actor-comedian Cheri Oteri is 59 years old. Country singer Jeff Bates is 58 years old. Country singer Trisha Yearwood is 57 years old. O’Brien is 55 years old. Celebrity chef Michael Symon is 52 years old. Actor Victor Williams is 51 years old. Sanaa Lathan (suh-NAH ‘LAY’-thun) is 50 years old. Actor Stephanie J. Block is 49 years old. Rock singer A. Jay Popoff (Lit) is 48 years old. “Tonight Show” host Jimmy Fallon is 47 years old. TV personality Carter Oosterhouse is 45. TV host Alison Sweeney is 45 years old. Folk-rock singer-musicians Sara and Tegan (TEE’-gan) Quin are 41 years old. Actor Columbus Short is 39 years old. Rapper Eamon is 38 years old. Actor Kevin Zegers is 37 years old. Actress Danielle Panabaker is 34 years old. Actress Katrina Bowden is 33 years old.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


Today’s mortgages, refinancing rate: September 17, 2021



All mortgage and refinance rates are low today, so it might be a good day to lock in a low rate.

We show the national average mortgage rates. Your exact rate will depend on where you live, so take a look at our state-by-state guide below.

Your mortgage rate will also depend on your finances and the type of mortgage you get. But overall, mortgage rates are at historically low levels.

Current mortgage rates

Money.com conventional rates; RedVentures government guaranteed rates.

Current refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

How are mortgage rates determined?

Mortgage rates are largely determined by the economy. Rates are higher when the US economy is booming and lower when it is struggling.

Employment and inflation are the two main economic factors influencing mortgage rates. When the number of jobs and inflation increase, mortgage rates tend to follow.

However, you have some power over your mortgage rate. Here are the factors you can control:

  • Credit score. The higher your credit rating, the lower your mortgage rate should be. To improve your score, focus on paying all of your bills on time and paying off your debts.
  • Debt-to-income ratio. Your DTI ratio is the amount you pay for your debts each month divided by your gross monthly income. The lower your DTI ratio, the better. The minimum DTI ratio depends on the lender and the type of mortgage you get, but it typically ranges from 36% to 50%. If your ratio is still below the lender’s minimum, you might get a better interest rate.
  • Advance payment. Depending on the type of mortgage you get, you may need 0% to 20% for a down payment. If you can place more than the minimum down payment, you will likely get a lower rate.
  • Type of mortgage. Compliant mortgage rates (which you probably call “regular mortgages”) are already low right now. You will pay less on a mortgage loan guaranteed by the government through the FHA, VA or USDA. You will pay a higher rate on a jumbo mortgage.
  • Duration of the mortgage. The shorter the term of your mortgage, the lower your rate will be. For example, you will pay less on a 15-year term than on a 30-year term. Keep in mind that your monthly payments will be higher in the shorter term, however.

When to lock in a mortgage rate

It’s usually a good idea to lock in your mortgage rate when you’re ready to start shopping for a home.

To lock in your rate, apply for pre-approval from a lender. After you receive your pre-approval letter, your rate is typically blocked for 60-90 days.

It helps to get a pre-approval letter before you bid on a home. Showing the seller a pre-approval letter indicates that you are a competitive buyer who is in good financial health, and it could give your application a leg up on other offers.


Amber alert issued for missing teenager



Roosevelt County Sheriff’s Office issues Amber Alert for Dana Lee Johnston.

Johnston is a 15-year-old Native American. She is 5 feet 6 inches, 130 pounds, with brown hair and brown eyes. Johnston was last seen wearing a white striped shirt and blue jeans.

She was assaulted last night by two unidentified women before Cheri Granbois dragged her into a black double cab van with a toolbox in the back. Montana plate CEY619.

If you have any information about Dana Johnston or Cheri Granbois, contact the Roosevelt County Sheriff’s Office at (406) 653-6240 or call 911.

Discover 20 Ways America Has Changed Since September 11

For those of us who lived through September 11, the events of the day will forever be etched in our minds, a terrible tragedy that we cannot forget and that we do not want to forget. Now, two decades later, Stacker looks back on the events of 9/11 and many ways the world has changed since then. Using information from news reports, government sources, and research centers, this is a list of 20 aspects of American life that have been forever changed by the events of that day. From language and air travel to our handling of immigration and foreign policy, read on to see how life in the United States was affected by 9/11.

LOOK: What important laws were passed in the year you were born?

The data in this list was acquired from reliable online sources and media. Read on to find out which major law was passed in the year you were born, and learn its name, vote count (if any), impact, and meaning.


Digital mortgage fences could be legal in all 50 states by 2022, expert says



With the SECURE Notarization Act gaining traction, digital mortgage fences could be legal nationwide by 2022. (iStock)

Digital mortgage fences – also known as eClosings – have been accelerated by the need for homebuyers and mortgage lenders to stay socially distant amid the coronavirus pandemic. Taking out your home loan without having to be physically present when signing documents has certainly gained popularity – where the ability to do so is legal. But some experts believe electronic shutdowns could be legalized in all 50 states by 2022, as this process and remote online notarizations (RONs) gain in popularity.

An eClosing is the process by which a buyer or owner refinances or closes their loan electronically, rather than signing paper documents. Thanks to this remote notarization, consumers can connect online with a notary public and perform the notarial deed from anywhere with a computer, tablet or any device with a camera and audio. Notaries give their notary seal after collecting an electronic signature and proof of identity through various authentication methods such as photo ID, identification questions or other proof of identity.

Currently, RON is legal in 38 US states. However, the bipartisan Securing and Enabling Commerce Using Remote and Electronic Notarization Act, 2021 (SECURE), HR 3962 may soon change that. Some experts believe that the bill for all transactions to be carried out using remote online notaries could go up as early as this year, or in 2022.

“There is still broad bipartisan support in Congress for the SECURE Notarization Act, and we continue to educate policymakers, alongside a broad coalition of partners, on the importance of expanding access to notarization in remote line nationwide with strict standards for use by all consumers, ”said Chris Morton, senior vice president of public affairs for the American Land Title Association (ALTA). “We continue to seek all available opportunities to move this legislation forward towards its enactment in this Congress and hope that its movement.

“The current requirements for a signatory to be physically in the presence of a notary are often impractical and sometimes impossible due to social distancing constraints resulting from COVID-19, as well as other obstacles, including military service or business travel, ”Morton said.

Advances in digital mortgage technology, including electronic notarizations, have made it easier to manage mortgages and refinance options without ever having to leave your home. If you are interested in a mortgage loan or a loan refinancing in progress, please seeisit Credible to start the online application and get pre-approval for multiple lenders without affecting your credit score.

ONLINE MORTGAGE CLOSING COULD SOON BECOME LEGAL THROUGH US: WHAT YOU NEED TO KNOW

National acceptance of RON

House officials are also adding changes to the National Defense Authorization Act, which would allow military personnel to use RON to sign their mortgage when away from home. If the SECURE law is passed next year, it will spur a movement for the SECURE law to allow all U.S. consumers to use RON, according to Bill Killmer, senior vice president of the Mortgage Bankers Association for business. legislative and political.

“It’s a little different route than real estate law has to take, given the different jurisdictions of the committees, the diversity of characters and actors, but there are several paths here,” Killmer said. “I think a discussion about this at the end of 2021 will create momentum for a potential discussion in 2022 if we fail to cross the finish line.”

If you want to take out mortgage refinancing to save money on your interest rate, visit Credible to choose the best lender that matches your needs. Many mortgage lenders already offer the RON option, and you could reduce your interest without having to leave your home.

BEST US MORTGAGE LENDER SAYS INTEREST RATES WILL RISE AS JOBS INCREASE

RON is growing

RON has grown in popularity over the past few years; it increased by 547% from 2019 to 2020, according to an ALTA survey of the main suppliers working in the RON space.

“Our champions in Congress, Senators Cramer (R-ND) and Warner (D-VA), as well as Representatives Dean (D-PA) and Armstrong (R-ND), are working tirelessly to pass the SECURE Notarization Act. “says Morton. “Our broad coalition of securities, real estate, lenders and tech companies are working to step up our cosponsors and supporters to help in this effort. At the same time, states have increased their efforts to align. on this Congressional effort. It is clear that there is a need and a demand for this approach across the country. “

States that have currently legalized RON understand: Alaska, Arizona, Arkansas, Colorado, Florida, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oklahoma , Pennsylvania, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

Various versions of the RON bill have already been presented to Congress, but not all have been passed. The previous setback by various states raised concerns that the RON legislation provided too much of a cap on the legislation. The new law, Killmer explained, is more of a starting point that individual states can build on.

“The bill as previously drafted was a bit too capped and prevented states from having the flexibility or freedom to design things that were unique to their needs or particular situations in individual states.” , he explained. “This bill sets a floor, so it sets minimum standards that complement existing state laws, as opposed to any perception they preempted them.”

RON law is gaining ground in Congress as lobbyists rally bipartisan support. It is also gaining popularity with consumers as digital mortgage progresses. Refinancing while mortgage rates stay below 3% could help borrowers save hundreds on their monthly mortgage payment, and it could now be more accessible than ever with an eClosing. Contact Credible to speak to a mortgage expert and get all of your questions answered.

AOC URGES BIDEN TO APPOINT NEW FED PRESIDENT – WHAT THAT MEANED FOR INTEREST RATES

Have a finance-related question, but don’t know who to ask? Email the Credible Money Expert at [email protected] and your question could be answered by Credible in our Money Expert column.


Driving without insurance in Montana



Driving without insurance in Montana is a criminal offense because Montana law requires drivers in the State of the Treasury to carry a minimum amount of liability insurance. And while minimum coverage in Montana costs an average of $ 342 per year according to Quadrant Information Services, that cost is still less than the fine an uninsured Montana driver could pay.

Minimum insurance required in Montana

The minimum amount of liability required by Montana state law is a 25/50/20 policy. In writing, this means that each driver must have, as a minimum, the following amounts of coverage:

  • $ 25,000 per person for bodily injury or death
  • $ 50,000 per accident for bodily injury or death
  • $ 20,000 per accident for property damage

Coverage for uninsured and underinsured motorists must be offered but may be refused in writing.

Bonds or a deposit of $ 55,000 in cash or securities may also satisfy financial responsibility law.

If you are arrested in Montana, state law allows officers to require proof of insurance. This is, of course, in addition to your license and registration.

Penalties for driving without insurance in Montana

The penalties for uninsured driving in Montana are severe from the start. For most drivers, penalties alone are enough of an incentive to purchase insurance.

First offense

Drivers must pay a fine between $ 250 and $ 500. If you are unable to pay this amount, you can choose to serve up to 10 days in jail instead.

Second offense

Drivers must pay a minimum fine of $ 350, or choose up to 10 days in jail. Whichever you choose, you will also receive 5 points on your driving record. Collect 30 points and your license will be revoked.

Third offense

A minimum fine of $ 500 and / or up to 6 months in prison. Registration revoked for 180 days.

Montana’s Online Insurance Verification System Fee

Montana allows its agents to use an online insurance verification system. This system makes it possible to immediately check whether a driver is insured or not. It is particularly useful after accidents, routine traffic stops or when a driver has misplaced their insurance information.

At this time, Montana does not issue fines to uninsured drivers, although it has the capacity to do so. Currently, drivers must already be stopped for another offense for an officer to draft a ticket for driving without insurance.

Have an accident without insurance

In Montana, driving without insurance is serious business. If you have an accident when you are not insured, it is even worse.

The first thing that happens in a Montana driving accident free insurance is that you will be fined for no insurance. All fines and fees mentioned above will be applied regardless of who is responsible for the accident.

The most important thing to know about driving without insurance in Montana is that Montana is a tort state. This means that if you are at fault for an accident, you have to pay for the damage caused by your driving. Lost wages, medical bills, property damage, and funeral expenses could all be yours.

As you can see, Montana’s penalties are simply incentives to purchase insurance. The real threat to uninsured drivers is the life-changing financial burden that could result from a serious accident.

Frequently Asked Questions

What if you provide false insurance information?

No one wants to be charged with driving without insurance, which is why some drivers think it’s best to lie when questioned by a police officer. However, providing false documents to a police officer can result in criminal charges and even jail time.

How Much Does Car Insurance Cost in Montana?

The average cost of auto insurance in Montana is around $ 1,737 per year for full coverage (or $ 145 per month). For minimum coverage, the average annual premium in Montana is $ 342. The US average for auto insurance is $ 1,674, which makes Montana about $ 63 more expensive.

Which Auto Insurance Companies Are Best For Montana Drivers?

By examining customer satisfaction scores, financial strength, coverage and discount options, we determined that the best insurance companies for Montana drivers are:

  • Allstate
  • Geico
  • Progressive
  • State farm
  • United States

However, we recommend that each driver get a quote from each to find the lowest premium. Each insurance company calculates premiums in a different way, which means that it is quite possible to save money just by shopping.

How can drivers lower their premiums?

The penalty for driving without insurance in Montana is too high. You may be able to reduce your insurance premium to a more affordable amount by following these steps:

  1. Compare the prices: Insurance companies do not charge the same amount. They may be similar, but they are rarely the same. By simply noting purchases, you can find a cheaper supplier without doing anything else on this list.
  2. Compare discounts: Look around and you will notice that many insurance companies offer the same discounts. However, the amount you will save with each business can vary widely. Talk to an insurance agent to find out how much you will save with their business discounts.
  3. Increase your deductible: A high deductible will reduce your monthly payment, but it will also reduce the amount you receive after an accident. Most businesses have multiple franchise options, so pick the one that best fits your budget and needs.
  4. Driving an old car: New cars can cost more to insure because they cost more to repair and replace. Driving an old car could save you money on auto insurance. To save the most, however, choose an older car that has an excellent collision rate and can be paired with discounts such as daytime running lights or dual airbags.
  5. Increase your credit score: Insurance companies operating in Montana are permitted to use credit scores to calculate premiums. The reason is that many studies have found a correlation between low credit scores and higher claims. Therefore, if you increase your credit score, your premium should decrease.


US Treasury suspends changes to Fannie Mae and Freddie Mac stock deals



By Pete Schroeder

WASHINGTON (Reuters) – The U.S. Treasury Department said on Tuesday it had suspended changes to government ownership in housing giants Fannie Mae and Freddie Mac imposed in the dying days of the Trump administration.

These changes aim to lift restrictions on the ability of agencies to secure certain types of mortgages, including on second homes, multi-family homes, and homes purchased with higher risk loans, after the Trump administration ordered the pair to reduce their footprint on the housing market.

The Federal Housing Finance Agency, which regulates the pair, is reviewing these changes and consulting the Treasury on other possible changes.

The suspension effectively freezes the changes put in place in the final days of the Trump administration. Then-Treasury Secretary Steven Mnuchin had attempted to craft a plan for Fannie and Freddie’s exit from government control.

In January 2020, the Treasury Department announced that it had changed its stake in the pair, including allowing them to keep their profits in exchange for a larger government stake in companies.

However, housing advocates feared this would undermine the core business mission of making housing more affordable.

The pair, which guarantees more than half of all US mortgages, have been under government control since a 2008 bailout. Under the bailout deal, the government wiped out quarterly corporate profits.

The FHFA said on Tuesday that companies would still be allowed to raise capital while the suspended policies were under review.

This decision was quickly greeted by Democrats. Senate Banking Chairman Sherrod Brown said previous changes were “hit and miss” and welcomed the suspension to ensure “that we do not unintentionally restrict access to safe and affordable housing for landlords and tenants” .

However, Senator Pat Toomey, the leading Republican on the banking panel, warned that the changes could risk “overheating an already hot market.”

As part of the Trump administration’s plan, Fannie and Freddie could have retained their profits and rationalized their operations in an effort to slowly rebuild their capital cushions, which could eventually lead to an exit from government control. However, even this plan predicted that it would take years and still left many legal and political questions unresolved.

(Reporting by Pete Schroeder; Editing by Leslie Adler and Richard Chang)


Are you following these five important financial tips?



If we’ve learned anything from the pandemic, it’s that life is unpredictable and its unexpected twists and turns can dramatically affect our finances. The key is to stay focused on changing trends and use them to your advantage. Experts suggest these tips to make today’s financial landscape work for you.

1. Make a plan to pay off your credit card debt.

Many Americans were forced to take on more credit card debt during the pandemic because they were working fewer hours, had been placed on leave, or were made redundant.


While many physicians did not appear to be financially affected by the pandemic, a good number experienced temporary financial setbacks, as seen in the Medscape 2021 Physician Compensation Report and the Medscape Physician Wealth and Debt Report 2021.

An article in Business intern advises you to create a timeline to pay off the debt you racked up during COVID-19 – or any other credit card debt, for that matter.

Start by figuring out where your money was spent in 2020, or even the past few months, so you can focus on where to cut costs. Then set up a budget using an app like Mint or some other type of budgeting software to help you categorize your spending.

The app will help you stay within your budget limits. Of course, you need to figure out what expenses you can cut back in order to use that extra money to pay off the debt. Once you’ve done that, make a debt repayment plan. One approach (sometimes referred to as the “snowball method”) is to pay off the smaller debt first, then transfer that payment to the next larger debt and in this way you work your way up to debt. the highest.

The other is a more “top-down” approach (sometimes referred to as the “avalanche method”). With this method, you first target the debts that have the highest interest rates, and then use the money freed up to pay off subsequent debts. Pick a strategy that’s right for you and stick to your debt repayment plan.

If you’re having trouble sticking to your debt repayment plan, consider consolidating your debt on a credit card with balance transfer or a personal loan. This will allow you to have all of your debts in one place with a lower interest rate and just one monthly payment.

If you’re having trouble making payments on time or meeting the minimum payment, another option is to call your credit card provider. Many companies will work with you to give you more flexibility on payments as well as lower interest rates.

It may also be helpful to see a financial advisor, who can help you pay off your debts.

2. Invest wisely in real estate … location, location, location.

Investing in real estate is traditionally seen as an “accessible and reliable way to create passive income and prepare for unexpected changes in the economy“.

But not all real estate is created the same, and the property that was supposed to write off your bank account shouldn’t drain it. So you want to look for properties with increasing appreciation rates.

An article published on Yahoo finance (and which originally appeared on Insider Monkey.com) lists the top 15 states to invest in real estate in 2021, with real estate appreciation as the “key indicator.” The appreciation rates take into account mortgage rates as well as data on the cost of living, which gives an indication of the interest that potential buyers or tenants would be in living in these areas.

The article lists the 15 most lucrative states. Idaho is number 1, with total real estate appreciation over the past 2 years of 28.49%. Arizona is number 2, with an appreciation rate of 20.43%, followed by Utah, Maine, Montana, New Hampshire, Washington, Rhode Island, Tennessee, Oregon, from Ohio, Indiana, Connecticut, South Dakota and California.

3. Stock market volatility is not necessarily a bad thing.

After a long streak of consecutive wins, the stock market experienced a sudden slowdown last year, driven by fears that a slight increase in COVID-19 cases could hurt the global economic recovery.

Experts offer advice not only to overcome market volatility, but even to use it to your advantage. They point out that the relativity of the market is an integral part of the investment process and that it is in fact the best way to beat inflation. Rises and falls in the market are opportunities to review your asset allocation. If you’re worried about a sharp drop, you can turn part of your portfolio into safer stocks. This way you are protected against a possible market correction, which is defined as a drop of more than 10%.

A decline is not a good time to sell stocks, because selling when the market is falling means that you will miss out on the benefits of the rebound when the going gets better. In fact, perhaps counterintuitively, the downturn is a good time to buy more stocks, paving the way for future gains, as stocks are likely to be traded at a discount.

During a market crash, you can protect yourself against the need to increase your income or replenish your losses by always having an emergency fund. Experts say it’s better to spend the money in your emergency fund than to sell assets at a loss.

4. Take advantage of lower mortgage rates.

Now might be a good time to finance a home, as both 15 and 30-year fixed mortgage rates have come down. The average rate for a 30-year fixed rate mortgage (the most frequently used loan term) is 3.03%. A 15 year fixed rate mortgage is 2.38%. Both are reasonable options, but the 30-year mortgage usually has a lower monthly payment than the 15-year, although it often has a higher interest rate.

But despite the higher interest, it’s still a good option if you want to keep your monthly payment low. On the other hand, if you can afford the monthly payments, you’ll end up paying less in the long run for a 15-year loan because the interest is usually lower and you’ll finish paying it off in half the time. .

While many people prefer fixed mortgage rates, 5/1 variable rate mortgages may be an option to consider, especially if you plan to sell or refinance your home before the rate changes. The average rate has also gone down recently, and you could also end up paying less interest than you would for a 30-year fixed rate mortgage. But keep in mind that depending on loan terms and market rates, you might end up paying more interest after this period.

Before you rush to take advantage of these lower rates, take a step back, think about your personal needs and financial situation, and be sure to do your homework and compare different lenders to find the one that’s right for you.

5. Maximize your contributions to the IRA.

There are all kinds of benefits to opening and IRA and maximizing your contributions to an existing IRA if you have one. With a traditional IRA, you can get immediate tax deduction or deferred income, with the expectation that your bracket will be lower in the future, according to an article in Kiplinger Finance. This could be useful if you plan to retire soon or if you think your income will be lower in the years to come.

However, the downside is that you will eventually have to pay taxes on this type of IRA; and if you withdraw the money before the age of 59 and a half, you will pay a heavy penalty (10%). You must also receive minimum distributions after age 72.

An alternative is a Roth IRA, which you contribute to after paying taxes. The good news is that you can withdraw cash without paying any additional taxes or penalties once you’ve owned it for 5 years and are over 59 and a half. In addition, no minimum distribution is required.

Currently, the maximum amount that can be contributed to the IRA or both IRAs combined in 2021 is $ 6,000, which has been the case for 2 years. However, if you are 50 or older, you can add an additional $ 1,000, bringing the maximum contribution to $ 7,000.

Batya Swift Yasgur MA, LSW, is a freelance writer with a consulting practice in Teaneck, NJ. She is a regular contributor to numerous medical publications, including Medscape and WebMD, and is the author of several consumer-focused health books as well as Behind the Burqa: Our Lives in Afghanistan and How We Escaped to Freedom (memoirs of two brave Afghan sisters who told her their story).

For more news, follow Medscape on Facebook, Twitter, Instagram and YouTube.



‘Montana Story’ is a beautiful exploration of childhood trauma and reconciliation



Cal (Owen Teague) returns home to care for his dying father who is on life support in the living room of the quaint house he grew up in. Montana history doesn’t romanticize Montana or the situation too much like most movies that take place there. Cal takes the burden on his own and goes straight to work to put his father’s affairs in order: tackling bankruptcy and expired mortgages, selling his late mother’s vehicle to cover what Medicaid does not pay. for home care and handling the sale of the ranch

Montana history is a beautiful exploration of childhood trauma and reconciliation

As Cal plans to take down the only twenty-five-year-old stallion left at the ranch, his half-sister Erin (Haley Lu Richardson) shows up unexpectedly. The siblings haven’t spoken to each other for seven years, not since their father nearly beat her to death for speaking out against him in their high school newspaper. Cal feels conflicted because, for him, Erin abandoned him, but Erin left because Cal had stood idly by while their father beat her and killed his horse.

When you think back to all of the previous work depicting adult children coming home to care for a sick or dying parent, you probably imagine actors in their mid-30s through late 40s. Of course, there are movies that feature the younger brother in their twenties, but movies that focus only on the twenties who are struggling with this situation are rare. Montana history has a marked millennial element that makes it a refreshing addition to this genre of niche movies.

(left to right) Owen Teague and Haley Lu Richardson | Courtesy of TIFF

Montana history is chock-full of gorgeous panoramic cinematography that captures the beauty and magnificence of the state, but it also captures a distinctive sense of isolation that helps underline that sense of rudimentary emotion that is evoked by Cal and Erin’s situation. Teague and Richardson are spectacular on screen together as they pull such rich emotions from each other as they seek a way to come to terms with their childhood and move forward in a tenuous situation. .

While Cal and Erin’s story is the focal point of the film, there are subtle nods and allusions to larger issues at play in Montana. The incident between Erin and her father was sparked by her covering up a toxic mess at a local mine and the radio in Cal’s car talks about the Dakota Access pipeline. Considering their father’s involvement in extracting natural resources from indigenous lands, I wondered why their housekeeper and family friend Valentina (Kimberly Guerrero) and her son Joey (Asivak Koostachin) stayed true to the family. But maybe that answer is in the flashing comment and you miss the local grocery store cutting their hours. When jobs are scarce in Montana in the middle of nowhere, sometimes you have to make tough decisions about who you work for.

Montana history was my first introduction to the writer-director duo of Scott McGehee and David Siegel and it inspired me to research their other films. They have a real talent for capturing visceral human emotions and exploring them through silent means. There is nothing gaudy or overworked about the script, which focuses on stripped-down and stripped-down emotions, and the directing captures a very realistic slice-of-life portrayal that allows the film to truly connect with the audience. .

Montana history premiered this week at the Toronto International Film Festival. A release date has not yet been announced.

Discover our full coverage of the Toronto International Film Festival.

Montana history



Montana history

Montana Story is a beautiful exploration of childhood trauma and reconciliation


9.0 / 10




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Maggie Lovitt is the Entertainment Editor-in-Chief at Your Money Geek, where she covers her favorite topics: Star wars and pop culture nerd. She is also a freelance writer and contributor to Collider and Dorkside of the Force.

When she’s not covering entertainment news, she can be found on one of her many podcasts or on her YouTube channel. In her spare time, she is also a novelist, screenwriter, actress and member of the Screen Actors Guild.



Today’s mortgage, refinancing rate: September 12, 2021



Mortgage and refinance rates are generally low today, so this could be a good day to lock in a low rate.

We show the national average mortgage rates. Your exact rate will depend on where you live, so take a look at our state-by-state guide below.

Your mortgage rate will also depend on your finances and the type of mortgage you get. But overall, mortgage rates are at historically low levels.

Current mortgage rates

Money.com conventional rates; RedVentures government guaranteed rates.

Current refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

How are mortgage rates determined?

Mortgage rates are largely determined by the economy. Rates are higher when the US economy is booming and lower when it is struggling.

Employment and inflation are the two main economic factors influencing mortgage rates. When the number of jobs and inflation increase, mortgage rates tend to follow.

However, you have some power over your mortgage rate. Here are the factors you can control:

  • Credit score. The higher your credit rating, the lower your mortgage rate should be. To improve your score, focus on paying all of your bills on time and paying off your debts.
  • Debt-to-income ratio. Your DTI ratio is the amount you pay for your debts each month divided by your gross monthly income. The lower your DTI ratio, the better. The minimum DTI ratio depends on the lender and the type of mortgage you get, but it typically ranges from 36% to 50%. If your ratio is still below the lender’s minimum, you might get a better interest rate.
  • Advance payment. Depending on the type of mortgage you get, you may need 0% to 20% for a down payment. If you can place more than the minimum down payment, you will likely get a lower rate.
  • Type of mortgage. Compliant mortgage rates (which you probably call “regular mortgages”) are already low right now. You will pay less on a mortgage loan guaranteed by the government through the FHA, VA or USDA. You will pay a higher rate on a jumbo mortgage.
  • Duration of the mortgage. The shorter the term of your mortgage, the lower your rate will be. For example, you will pay less on a 15-year term than on a 30-year term. Keep in mind that your monthly payments will be higher in the shorter term, however.

When to lock in a mortgage rate

It’s usually a good idea to lock in your mortgage rate when you’re ready to start shopping for a home.

To lock in your rate, apply for pre-approval from a lender. After you receive your pre-approval letter, your rate is typically blocked for 60-90 days.

It helps to get a pre-approval letter before you bid on a home. Showing the seller a pre-approval letter indicates that you are a competitive buyer who is in good financial health, and it could give your application a leg up on other offers.


2021 Guaranteed Rate Mortgage Review



The minimum credit score and down payment are for compliant mortgages.

Overall rating of the lender

Advantages and disadvantages

Guaranteed rate mortgage rates

The Guaranteed Rate shows examples of mortgage rates online, along with information like national average rates for comparison and other expenses to consider when budgeting for a home.

These sampling rates are, however, based on certain assumptions, including a state of residence and a credit rating. You cannot tailor the details to your personal information to view a personalized rate online. You will need to contact the lender or fill out a form.

Guaranteed rate mortgage rates are competitive with national averages right now, so you could get a good rate.

Comparison of the guaranteed rate

We compared the guaranteed rate to two other lenders that operate in all 50 US states: Rocket Mortgage and Fairway Independent Mortgage Corporation.

You will need to use the secured rate or the fairway for a USDA mortgage. The Guaranteed Rate also offers interest-only mortgages, and Fairway offers reverse mortgages and home improvement loans.

You may also like the guaranteed rate or the fairway if you don’t have a credit score. Both accept alternative credit data, like proof that you pay your bills on time, instead of a credit score. Fairway can even accept this data if your credit score is low. However, Rocket Mortgage requires a credit score.

You might like Rocket Mortgage if customer service is a top priority. Rocket Mortgage has been ranked as JD Power’s # 1 Customer Satisfaction Lender for 11 consecutive years.

How Guaranteed Rate Mortgages Work

The Guaranteed Rate is an online lender that offers mortgages in all 50 US states and Washington, DC. You can get the following types of home loans from the guaranteed rate:

You can do regular rate and term refinancing or cash flow refinancing.

If you don’t have a credit score, you can view other guaranteed rate financial data for mortgage approval. However, the lender does not consider alternative data if you already have a score.

Contact customer service Monday through Friday. The exact times vary depending on whether you’re calling for a new home purchase, an existing loan, or some other reason.

Is the guaranteed rate trustworthy?

The Better Business Bureau gives the guaranteed rate an A- in terms of reliability. A high BBB score indicates that a business responds effectively to customer complaints, is transparent about business practices, and advertises honestly.

The BBB gives the guaranteed rate an A- rather than an A + because the government has taken action against the lender.

The guaranteed rate pays the government $ 15 million. A former employee claimed the lender pressured underwriters to lie so that the government would insure FHA and VA loans. The Justice Department said the lender attempted to put an end to the illegal practices even before the federal investigation began.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming


Gianforte opposes Biden’s ‘non-American’ Vax mandate



Montana Gov. Greg Gianforte (R-MT) opposes Biden’s “non-US” federal mandate, while South Dakota Gov. Kristi Noem (R-SD) says his legal team is “in waiting”.

President Joe Biden on Thursday ordered companies with 100 or more employees across the country to vaccinate or test their employees weekly, according to Fox News.

Governor Gianforte offered this response via social media:

President Biden’s vaccination mandate is illegal and anti-American. We are committed to protecting the freedoms and freedoms of Montanais against this flagrant excess of the federal government.

An hour earlier, Governor SD Noem issued this warning to Biden:

My legal team is ready to file our complaint down to the minute @Joe biden deposits its unconstitutional rule. This blatant example of federal intrusion will not hold up.

Our friend John Jackson also intervened via Twitter. He nailed it with this reference to House Bill 702 which was already enacted in Montana by the governor:

Everyone in Montana, you are automatically exempt from Biden’s BS vax warrants. Montana law (HB 702) prohibits discrimination based on vaccination status. Make sure any wobbly employer understands this.

For those who missed my post in early August, I spoke with Rep. Jennifer Carlson (R-Manhattan) about her legislation.

What if my employer forces me to be vaccinated against COVID-19?

Representative Carlson had very simple answers. First, she says to just talk to your employer. Let them know that requiring the vaccine from their employees is against state law. What if it doesn’t work? Do you call a lawyer and take legal action? Before going so far as to file a lawsuit, she says the Montanans can simply file a complaint with the Montana Human Rights Office.

Read more: Here’s How You Can Fight A Mandatory Vaccine In Montana

LOOK: What important laws were passed in the year you were born?

The data in this list was acquired from reliable online sources and media. Read on to find out which major law was passed in the year you were born, and learn its name, vote count (if any), impact, and meaning.



Today’s mortgage, refinancing rate: September 6, 2021



Mortgage and refinance rates are generally low today, so this could be a good day to lock in a low rate.

We show the national average mortgage rates. Your exact rate will depend on where you live, so take a look at our state-by-state guide below.

Your mortgage rate will also depend on your finances and the type of mortgage you get. But overall, mortgage rates are at historically low levels.

Current mortgage rates

Money.com conventional rates; RedVentures government guaranteed rates.

Current refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

How are mortgage rates determined?

Mortgage rates are largely determined by the economy. Rates are higher when the US economy is booming and lower when it is struggling.

Employment and inflation are the two main economic factors influencing mortgage rates. When the number of jobs and inflation increase, mortgage rates tend to follow.

However, you have some power over your mortgage rate. Here are the factors you can control:

  • Credit score. The higher your credit rating, the lower your mortgage rate should be. To improve your score, focus on paying all of your bills on time and paying off your debts.
  • Debt-to-income ratio. Your DTI ratio is the amount you pay for your debts each month divided by your gross monthly income. The lower your DTI ratio, the better. The minimum DTI ratio depends on the lender and the type of mortgage you get, but it typically ranges from 36% to 50%. If your ratio is still below the lender’s minimum, you might get a better interest rate.
  • Advance payment. Depending on the type of mortgage you get, you may need 0% to 20% for a down payment. If you can place more than the minimum down payment, you will likely get a lower rate.
  • Type of mortgage. Compliant mortgage rates (which you probably call “regular mortgages”) are already low right now. You will pay less on a mortgage loan guaranteed by the government through the FHA, VA or USDA. You will pay a higher rate on a jumbo mortgage.
  • Duration of the mortgage. The shorter the term of your mortgage, the lower your rate will be. For example, you will pay less on a 15-year term than on a 30-year term. Keep in mind that your monthly payments will be higher in the shorter term, however.

When to lock in a mortgage rate

It’s usually a good idea to lock in your mortgage rate when you’re ready to start shopping for a home.

To lock in your rate, apply for pre-approval from a lender. After you receive your pre-approval letter, your rate is typically blocked for 60-90 days.

It helps to get a pre-approval letter before you bid on a home. Showing the seller a pre-approval letter indicates that you are a competitive buyer who is in good financial health, and it could give your application a leg up on other offers.


Lender begins targeting Gen X for reverse mortgages



In a change that is likely to turn the heads of many in the reverse mortgage industry, Reverse Mortgage Funding, LLC (RMF) announced on Wednesday that it was lowering the minimum age for eligibility for its range to 55. Exclusive Equity Elite reverse mortgage products, which is the only product in the US reverse mortgage industry that can be offered to persons under the age of 60 in 19 eligible states and the District of Columbia. This is both an official company announcement and interviews with RMD staff.

Following a series of changes to the Equity Elite product line earlier this year, the decision to lower the age of eligibility to 55 is underway in an effort to broaden the borrower base potentials, especially to older people living in age-restricted communities for those 55 years old. and older, as well as to begin the eventual readiness of the reverse mortgage industry to serve borrowers in the younger “Generation X” cohort born between 1965 and 1980, by definition.

How the idea emerged, communities subject to an age restriction

One of the ways that RMF made the decision to tackle lowering the minimum age requirement on Equity Elite came from the product development team who researched different options to improve their offerings, from the same way that the idea of ​​streamlining the qualification of borrowers was born. This is what Joe DeMarkey, head of strategic business development at RMF said in an interview with RMD.

“It’s interesting that this idea actually arose out of a conversation we had about age-restricted communities that you can find in almost every state across the country,” DeMarkey told RMD. “And we were [thinking] it would be really nice if we could help any homebuyers or residents of these age restricted communities.

First on the “list of ideas” was the implementation of simplified borrower qualification, which RMF implemented in July by changing the order in which conversations with borrowers take place. This order now focuses on assets and product dissipation first before moving to traditional income sources. The next step in the “ideas book” was to lower the minimum age for Equity Elite to 55, according to DeMarkey.

“The last time you and I spoke, we were rolling out our streamlined underwriting approach,” he says. “And that minimum age change was the next one to face. It took a lot of resources in the business, and I’m proud of the team and the hard work they put into making this change a reality.

The focus on communities with age restrictions was also mentioned by RMF chairman David Peskin in the move announcement.

“Residents of age-restricted communities now have more financial flexibility to plan for retirement, from using a reverse mortgage to purchase a new home, to paying down debt. costly pre-existing or to cover health care bills and additional expenses, ”Peskin said in the ad. “The nation’s largest home builders can now offer more financial products, like RMF’s Equity Elite, to help residents buy their new homes – a significant achievement for the industry. “

Generation X

Of course, a by-product of lowering the minimum age is the fact that members of the Gen X cohort – who had just started qualifying for other exclusive options this year, as before explored on RMD – will now become more instantly accessible to RMFs through its Equity Elite program if they choose to research reverse mortgage options. While the Gen X component hasn’t been the primary driver of this move, the potential is hard to ignore, DeMarkey says.

“As an industry, we thought about how to serve Gen X with the products that were on the market,” DeMarkey said. “We have just accelerated our ability to serve Gen Xers who may be interested in a reverse mortgage product by lowering the eligibility age to 55 on Equity Elite. So if I do the math right now, people who are currently 55 and 56 are part of this Gen X cohort, and they’re now eligible if they live in one of the states we’re deploying it to to explore the use of a reverse mortgage and see if it would make sense for them to borrow money against their home with our product instead of conventional mortgage products.

As older members of Gen X prepare for retirement, their home equity levels are very high and a testament to the powerful opportunity that exists for RMF to lower the age of eligibility, said DeMarkey. However, it also goes beyond the boundaries of RMF as a business and is a move that can potentially be a boon to the industry at large.

“For the industry from a growth perspective, this represents a huge opportunity for us to lead the education of another generation of homeowners on the benefits of using their home equity in planning for their future. their retirement, and in particular with our Equity Elite product, ”DeMarkey said. “We’re excited about this for a lot of reasons, starting with being able to start conversations with Gen X. It’s really, really exciting for us.

Availability: 19 states and DC, with more to come

The lower minimum age applies to 19 states and the District of Columbia, according to RMF. These states are: Arizona; California; Colorado; Connecticut; Florida; Georgia; Hawaii; Illinois; Michigan; Montana; New Jersey (for lump sum and line of credit variations only); New Mexico; Nevada; Ohio; Oregon; Pennsylvania; Rhode Island; Caroline from the south; and Virginie.

RMF plans to extend the new minimum age requirement to other states in the future, but certain legislative and / or regulatory restrictions must be properly considered before deciding to offer additional details, DeMarkey said.

“It’s kind of premature to talk about other specific states we’re going to get into,” he says. “I will say that, generally speaking, we will continue to launch in more states in the weeks and months to come. And if they don’t have age restrictions, we’re also going to launch into those states with a minimum age of 55. “

According to initial outreach conducted by RMD, at least one reverse mortgage professional – John Luddy of Norcom Mortgage in Avon, CT. – has already identified at least one couple who can benefit from this new minimum age condition. Although the borrower himself is over 60 and already in talks for an Equity Elite loan, his wife was not yet so old and should have been on the non-borrowing spouses list for the loan. This is no longer the case once this age requirement is implemented, Luddy said.


RMF lowers minimum age requirement to 55 for proprietary reverse mortgages



In a change that is likely to turn the heads of many in the reverse mortgage industry, Reverse Mortgage Funding, LLC (RMF) announced on Wednesday that it was lowering the minimum age for eligibility for its range to 55. Exclusive Equity Elite reverse mortgage products, which is the only product in the US reverse mortgage industry that can be offered to persons under the age of 60 in 19 eligible states and the District of Columbia. This is both an official company announcement and interviews with RMD staff.

Following a series of changes to the Equity Elite product line earlier this year, the decision to lower the age of eligibility to 55 is underway in an effort to broaden the borrower base potentials, especially to older people living in age-restricted communities for those 55 years old. and older, as well as to begin the eventual readiness of the reverse mortgage industry to serve borrowers in the younger “Generation X” cohort born between 1965 and 1980, by definition.

How the idea emerged, communities subject to an age restriction

One of the ways that RMF made the decision to tackle lowering the minimum age requirement on Equity Elite came from the product development team who researched different options to improve their offerings, from the same way that the idea of ​​streamlining the qualification of borrowers was born. This is what Joe DeMarkey, head of strategic business development at RMF said in an interview with RMD.

“It’s interesting that this idea actually arose out of a conversation we had about age-restricted communities that you can find in almost every state across the country,” DeMarkey told RMD. “And we were [thinking] it would be really nice if we could help any homebuyers or residents of these age restricted communities.

First on the “list of ideas” was the implementation of simplified borrower qualification, which RMF implemented in July by changing the order in which conversations with borrowers take place. This order now focuses on assets and product dissipation first before moving to traditional income sources. The next step in the “ideas book” was to lower the minimum age for Equity Elite to 55, according to DeMarkey.

“The last time you and I spoke, we were rolling out our streamlined underwriting approach,” he says. “And that minimum age change was the next one to face. It took a lot of resources in the business, and I’m proud of the team and the hard work they put into making this change a reality.

The focus on communities with age restrictions was also mentioned by RMF chairman David Peskin in the move announcement.

“Residents of age-restricted communities now have more financial flexibility to plan for retirement, from using a reverse mortgage to purchase a new home, to paying down debt. costly pre-existing or to cover health care bills and additional expenses, ”Peskin said in the ad. “The nation’s largest home builders can now offer more financial products, like RMF’s Equity Elite, to help residents buy their new homes – a significant achievement for the industry. “

Generation X

Of course, a by-product of lowering the minimum age is the fact that members of the Gen X cohort – who had just started qualifying for other exclusive options this year, as before explored on RMD – will now become more instantly accessible to RMFs through its Equity Elite program if they choose to research reverse mortgage options. While the Gen X component hasn’t been the primary driver of this move, the potential is hard to ignore, DeMarkey says.

“As an industry, we thought about how to serve Gen X with the products that were on the market,” DeMarkey said. “We have just accelerated our ability to serve Gen Xers who may be interested in a reverse mortgage product by lowering the eligibility age to 55 on Equity Elite. So if I do the math right now, people who are currently 55 and 56 are part of this Gen X cohort, and they’re now eligible if they live in one of the states we’re deploying it to to explore the use of a reverse mortgage and see if it would make sense for them to borrow money against their home with our product instead of conventional mortgage products.

As older members of Gen X prepare for retirement, their home equity levels are very high and a testament to the powerful opportunity that exists for RMF to lower the age of eligibility, said DeMarkey. However, it also goes beyond the boundaries of RMF as a business and is a move that can potentially be a boon to the industry at large.

“For the industry from a growth perspective, this represents a huge opportunity for us to lead the education of another generation of homeowners on the benefits of using their home equity in planning for their future. their retirement, and in particular with our Equity Elite product, ”DeMarkey said. “We’re excited about this for a lot of reasons, starting with being able to start conversations with Gen X. It’s really, really exciting for us.

Availability: 19 states and DC, with more to come

The lower minimum age applies to 19 states and the District of Columbia, according to RMF. These states are: Arizona; California; Colorado; Connecticut; Florida; Georgia; Hawaii; Illinois; Michigan; Montana; New Jersey (for lump sum and line of credit variations only); New Mexico; Nevada; Ohio; Oregon; Pennsylvania; Rhode Island; Caroline from the south; and Virginie.

RMF plans to extend the new minimum age requirement to other states in the future, but certain legislative and / or regulatory restrictions must be properly considered before deciding to offer additional details, DeMarkey said.

“It’s kind of premature to talk about other specific states we’re going to get into,” he says. “I will say that, generally speaking, we will continue to launch in more states in the weeks and months to come. And if they don’t have age restrictions, we’re also going to launch into those states with a minimum age of 55. “

According to initial outreach conducted by RMD, at least one reverse mortgage professional – John Luddy of Norcom Mortgage in Avon, CT. – has already identified at least one couple who can benefit from this new minimum age condition. Although the borrower himself is over 60 and already in talks for an Equity Elite loan, his wife was not yet so old and should have been on the non-borrowing spouses list for the loan. This is no longer the case once this age requirement is implemented, Luddy said.


Shocking number of young people still live with their parents



Evelyn Pyburn of the Big Sky Business Journal attended a recent summit on “affordable housing” in Billings, MT, and came away with some very interesting highlights.

First, she gave a tip of the hat to Dr. Pat Barkey of the Bureau of Business and Economic Research at the University of Montana. He pointed to one of the main factors driving up house prices in major Montana cities: government codes, regulations and red tape.

Pyburn: One of the main reasons, if not the only one, that he really pointed out is that it’s the regulations and policies of the local communities that make it very expensive to build new housing and therefore people cannot afford it … I forget how many building permits have been issued over the past 10 years, but the majority of them were for construction outside the city limits.

Here’s the full audio of our conversation with Evelyn Pyburn:

Here is what was very interesting. She says more young people are living with their parents now than in the past 120 years.

Pyburn: Bob Leach from Western Property Management mentioned this. And he said there are more young people, those under 29, living with their parents now than at any time in the past 120 years. It’s worse now than after the Great Depression when 48% of young people still lived with their parents. And currently, that rate is 52%. So, we are half of our young people who cannot afford their own housing, and they live with their parents.

LOOK: What important laws were passed in the year you were born?

The data in this list was acquired from reliable online sources and media. Read on to find out which major law was passed in the year you were born, and learn its name, vote count (if any), impact, and meaning.


Wells Fargo Mortgage Review 2021



The minimum credit score and down payment are for compliant mortgages.

Overall rating of the lender

Advantages and disadvantages

Wells Fargo Mortgage Rates

Wells Fargo provides general information on mortgage rates on its website. When you are on the Wells Fargo Mortgage website, scroll down to the Calculators and Tools area.

If you click on “Check Rates” it will display sample mortgage rates based on specific assumptions. For example, the 30-year fixed rate is based on the assumption that you are going to buy a single-family home and that you have a credit score of 740.

If you want to get a personalized rate, you will need to fill out a form.

Right now, the 30- and 15-year fixed mortgage rates are roughly the same as the national average rates listed by Freddie Mac.

How Wells Fargo Stacks Up

We compared Wells Fargo to two other national banks that offer mortgage products: Bank of America and Chase.

Wells Fargo v Bank of America

Wells Fargo has more home loan options than Bank of America. If you are looking for a USDA loan or a new construction loan, Wells Fargo is the obvious choice. Bank of America does not have these mortgage products.

However, if you need a lender that offers a HELOC, Bank of America will be a better choice since Wells Fargo currently does not offer one.

Bank of America has Homebuyer Assistance Programs that provide housing loans and grants. Bank of America’s Our America’s Home Grant program can give eligible homebuyers up to $ 7,500 in closing cost credit, and the Our Down Payment system can offer grants of up to $ 10. $ 000. You will need to contact a loan specialist if you want to know if you are eligible.

Wells Fargo also offers grants and housing loans through the Dream. Plan. Home. Mortgage, but your eligibility for these programs may ultimately determine which is the more attractive choice.

Wells Fargo vs. Chase

Wells Fargo and Chase both have low down payment mortgages and help in the form of loans or grants.

The Chase DreaMaker Mortgage offers grants of up to $ 5,500. To be eligible for the $ 5,000 grant, you must purchase a primary residence in a predominantly black community. You will also need to qualify for the Chase DreaMaker mortgage or an FHA, VA, or Standard Agency back-to-back mortgage. For the additional grant of $ 500, you will need to meet the other requirements.

Meanwhile, Wells Fargo has the dream. Plan. Home. Mortgage, which is aimed specifically at people earning less than 80% of the region’s median income. Your decision between the two may come down to which mortgage you qualify for.

How Wells Fargo Mortgages Work

Wells Fargo is a national bank with more than 4,900 branches in 36 US states and Washington DC. You can apply for a home loan from anywhere in the United States.

At Wells Fargo, you can get a variety of home loans, including:

It also offers refinancing for FHA loans, fixed rate mortgages, and variable rate mortgages. As of February 2019, you can only refinance a VA loan if you are eligible for an IRRRL VA loan.

If you have a bad credit rating or a bad credit rating, Wells Fargo has the dream. Plan. Home. Mortgage. This mortgage has more lax credit standards and was created for people who were below 80% of the region’s median income. If you want to learn more about mortgage lending, you will need to contact a mortgage advisor to see if you meet the criteria and if you qualify for grants or credits.

According to the Wells Fargo website, some products, such as home equity loans and HELOC, are not available due to current market conditions. If you are looking to renovate or make improvements to your home, Wells Fargo has the option of a cash refinance. Wells Fargo also does not offer reverse mortgages.

Customer service is available 24/7 by phone or online chat. There is also an FAQ section which covers general questions about loans.

Is Wells Fargo Trustworthy?

Wells Fargo has faced several public controversies in recent years.

  • In September 2021, the Office of the Currency Comptroller asked Wells Fargo to pay a fine of $ 250 million for unsafe mortgage lending practices.
  • In February 2020, the Justice Department asked Wells Fargo to pay $ 3 billion as part of a settlement for its employees to create fake bank accounts to meet unattainable sales targets.
  • In December 2019, Wells Fargo paid $ 10 million in a settlement with the City of Philadelphia when it was accused of granting home loans to black and Latino residents who violated the Fair Housing Act. . The $ 10 million donated will be used to create sustainable housing programs that help low- and moderate-income people.
  • In January 2019, the bank paid $ 10 million in a settlement with the California Department of Insurance when it was accused of underwriting and billing 1,500 consumers on insurance products they didn’t. had not subscribed.

Wells Fargo received a high rating for customer satisfaction, according to the 2020 U.S. First Mortgage Satisfaction Study by JD Power. However, if you prioritize high customer satisfaction, you can also check out some lenders on our list of top mortgage lenders as some of them have received higher ratings.

We use Better Business Bureau ratings to see how a lender can handle customer issues. Currently, Wells Fargo has an NR rating from the BBB as it is currently dealing with previously closed complaints. Prior to that, Well Fargo had an F rating from the BBB.

One thing to keep in mind is that a good BBB rating does not necessarily indicate that your relationship with the lender will be the same. If you want to better understand whether a mortgage lender is right for you, consider hearing the opinions of your friends or family. Another option may be to read customer reviews online.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming


Here Is The Secret Bias Of Mortgage Approval Algorithms national news



More than 2.1 million Americans were on forbearance as of mid-May 2021, according to a recent forbearance and call volume survey from the Mortgage Bankers Association. One in 4,078 homes was the subject of a foreclosure request in the first quarter of 2021; in the second quarter, those numbers were down with 223,671 properties facing foreclosure nationwide, according to ATOM Data Solutions’ 2021 Vacant Properties and Zombies report.

On June 25, the Federal Housing Administration announced additional assistance for homeowners struggling to make mortgage payments. This assistance includes the extension of federal moratoriums on foreclosures and evictions for all single-family mortgages insured by the FHA, as well as extended COVID-19 forbearance application deadlines and a new housing retention option called COVID- 19 Advance Loan Modification (COVID-19 ALM), available to borrowers who are more than 90 days past due or have reached the end of their COVID-19 forbearance.

In addition to federal aid, many major mortgage lenders, including Wells Fargo and Bank of America, have temporarily suspended foreclosures. Other smaller banks across the country also suspended evictions and foreclosures in late spring. The Consumer Financial Protection Bureau (CFPB) is expected to pass a rule by August that would require mortgage agents to allow homeowners until the end of 2021 to resume their payments.

Sundae analyzed state data from the U.S. Census Household Pulse Survey, which found whether respondents were behind on their mortgage payments. To understand how the economic impacts of COVID-19 affected homeowners’ mortgage payments, Sundae compared the most recent available data collected from May 12 to 24, 2021 and data collected from April 23 to May 5, 2020. Sundae also calculated the percentage of households that lost income and fell behind on mortgages; and the percentage of unemployed residents who fell behind on payments. Each data point also includes the state ranking.

Distressed homeowners have fared better than renters overall, with data showing faster recovery for those with mortgages due to factors such as low interest rates and homeowners receiving more money. protection as tenants from the $ 2 trillion CARES Act. The Consumer Financial Protection Bureau offered another lifeline on June 28 by issuing a final decision to amend Regulation X, putting in procedural safeguards for the time being to give borrowers a full consideration of mitigating the losses before lenders can initiate foreclosure proceedings on various mortgages.

Keep reading to find out what programs (if any) state governments have in place for additional help, and how homeowners are doing in your state.


SunTrust 2021 Mortgage Review



Personal Finance Insider writes about products, strategies, and tips to help you make informed decisions with your money. We may receive a small commission from our partners, such as American Express, but our reports and recommendations are always independent and objective.

The minimum credit score and down payment are for compliant mortgages.

Overall rating of the lender

Advantages and disadvantages

SunTrust Mortgage Rates

SunTrust provides sample mortgage rates on its website. Keep in mind that these rates come with certain assumptions, for example that the loan is $ 200,000 with a borrower who has a credit score of 740. SunTrust does not have tools to customize your mortgage rate to match. purchase price, credit score or postal code.

SunTrust’s rates are comparable to the national average rates provided by Freddie Mac, so you can get a competitive rate from this lender.

SunTrust Mortgage Comparison

We compared SunTrust’s mortgages to loans from other banks: Bank of America and Chase.

If you live in Alaska, Arizona, Hawaii, or Oregon, you can’t get a mortgage through SunTrust. Bank of America and Chase offer mortgages in all 50 US states.

SunTrust is a good option for people with no credit score. The other two lenders require a credit withdrawal when you apply for pre-approval. SunTrust allows you to apply with alternative credit data, such as proof that you are paying your bills, if you don’t have a score.

Your choice may also depend on the type of mortgage you want. SunTrust has a no-down mortgage specifically for physicians, while the Chase DreaMaker Loan offers a grant of up to $ 5,500 for eligible borrowers.

How SunTrust Mortgages Work

SunTrust offers mortgages in all US states except Alaska, Arizona, Hawaii, and Oregon. You can get the following types of home loans with SunTrust:

  • Compliant
  • Giant
  • FHA
  • Virginia
  • USDA
  • Fixed rate
  • Adjustable rate
  • Renovation
  • Home Equity Line of Credit (HELOC)
  • Doctor loan: This is a mortgage specifically for doctors that does not require a down payment. Your loan conditions and limits depend on whether or not you are already a practicing doctor; there are also options for residents, interns and fellows.
  • Community Home Buyers’ Incentive Program (CHIP): Borrow up to 97% of the home’s purchase price and you don’t need mortgage insurance. You will need to complete a Home Buyers Training Course to qualify for CHIP.

SunTrust does not provide home equity loans, reverse mortgages, or construction loans.

You can choose between regular rate and term refinancing or cash flow refinancing. You can streamline refinancing your VA mortgage. You can also streamline refinancing your FHA mortgage, but your original loan should already be with SunTrust. You cannot refinance your USDA mortgage to another USDA loan with SunTrust, but you can refinance it to a compliant mortgage.

If you don’t have a credit score, you can apply for a mortgage with alternative credit data, such as proof that you pay your bills on time. SunTrust will draw your score when reviewing your application if you have a credit score.

Is SunTrust trustworthy?

SunTrust has no recent public controversies.

The Better Business Bureau gives SunTrust an A + for reliability. A high BBB rating indicates that a business responds effectively to customer complaints, is transparent about business practices, and advertises honestly.

A good BBB rating, however, does not guarantee that you will have a smooth relationship with a mortgage lender. You can always read customer reviews online or ask friends and family about their experiences with SunTrust.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming


Today’s mortgage, refinancing rate: August 21, 2021



Mortgage and refinance rates are generally low today, so this could be a good day to lock in a low rate.

We show the national average mortgage rates. Your exact rate will depend on where you live, so take a look at our state-by-state guide below.

Your mortgage rate will also depend on your finances and the type of mortgage you get. But overall, mortgage rates are at historically low levels.

Current mortgage rates

Money.com conventional rates; RedVentures government guaranteed rates.

Current refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

How are mortgage rates determined?

Mortgage rates are largely determined by the economy. Rates are higher when the US economy is booming and lower when it is struggling.

Employment and inflation are the two main economic factors influencing mortgage rates. When the number of jobs and inflation increase, mortgage rates tend to follow.

However, you have some power over your mortgage rate. Here are the factors you can control:

  • Credit score. The higher your credit rating, the lower your mortgage rate should be. To improve your score, focus on paying all of your bills on time and paying off your debts.
  • Debt-to-income ratio. Your DTI ratio is the amount you pay for your debts each month divided by your gross monthly income. The lower your DTI ratio, the better. The minimum DTI ratio depends on the lender and the type of mortgage you get, but it typically ranges from 36% to 50%. If your ratio is still below the lender’s minimum, you might get a better interest rate.
  • Advance payment. Depending on the type of mortgage you get, you may need 0% to 20% for a down payment. If you can place more than the minimum down payment, you will likely get a lower rate.
  • Type of mortgage. Compliant mortgage rates (which you probably call “regular mortgages”) are already low right now. You will pay less on a mortgage loan guaranteed by the government through the FHA, VA or USDA. You will pay a higher rate on a jumbo mortgage.
  • Duration of the mortgage. The shorter the term of your mortgage, the lower your rate will be. For example, you will pay less on a 15-year term than on a 30-year term. Keep in mind that your monthly payments will be higher in the shorter term, however.

When to lock in a mortgage rate

It’s usually a good idea to lock in your mortgage rate when you’re ready to start shopping for a home.

To lock in your rate, apply for pre-approval from a lender. After you receive your pre-approval letter, your rate is typically blocked for 60-90 days.

It helps to get a pre-approval letter before you bid on a home. Showing the seller a pre-approval letter indicates that you are a competitive buyer who is in good financial health, and it could give your application a leg up on other offers.


Do you want to buy a house in Yakima? Better hurry up



Home sales remain strong in Yakima, just as they were last year. If you are in the market to buy a home, your choices are only limited by how much you want to spend.

Cory Bemis, owner of John L. Scott Real Estate in Yakima, says the median price of a home in Yakima continues to rise. Currently, the median price is $ 318,000, which is an increase of 18.22% over last year, when the price was $ 269,000.

218 HOUSES SOLD TO YAKIMA LAST MONTH

Bemis says there are increases across the board. He says 218 homes were sold in July, a 0.5% increase from the 217 homes sold in July 2020 during the pandemic. This is also a 7.5% increase from the 187 homes sold in July 2019.

Bemis says demand remains strong throughout the year. 1,155 homes have been sold so far this year, which is an 11.6% increase from 2020 when
1,035 houses were sold in Yakima. Compared to the peak bubble years, as Bemis calls them, in 2006 and 2007, there were 1,090 and 1,109 homes sold during that same period.

LOW MORTGAGE RATES ARE PART OF THE REASON FOR INCREASED SALES

So what is driving this increase in the domestic market in Yakima and the country?
For some, it’s the cost of a mortgage. According to MortgageNewsDaily.com, 30-year fixed-rate mortgages have an average interest rate of 2.85% right now, up from 3.03% last month.
Bemis says “there are currently 426 pending / contingent homes for sale (24 over a month ago) and 179 listings available (up from 188 a month ago).”

ALSO: Former Minnesota Twins’ All-Star House for Sale – Complete with Brewery

WATCH: This is the richest city in every state

Just saying the names of these towns immediately conjures up images of grand mansions, fancy cars, and fancy restaurants. Read on to see which city in your home country received the title of richest place and which place had the highest median income in the country. Who knows, your hometown might even be on this list.

WATCH: Here are the best lakeside towns to live in

Most of the cities included jump out to casual observers as popular summer rental spots – Branson of the Ozarks, Missouri, or Lake Havasu in Arizona – it might surprise you to dive deeper into some of the quality of life offerings in the area. beyond the beach and vacation homes. You will likely gain knowledge in a wide range of Americana: one of the last 1950s-style drive-ins in the Midwest; a town in Florida that started out as a retreat for Civil War veterans; an island with some of the best public schools in the country and wealthy people smack in the middle of a lake between Seattle and Bellevue; and even a Californian town containing much more than the blues of Johnny Cash’s prison.


Barrasso asks Senate to postpone Tracy Stone-Manning vote on developer loan



Senate Democrats have backed President Biden’s appointment of Tracy Stone-Manning to head the Bureau of Land Management despite her role in a tree-planting plot, but Republicans say the six-figure loan she received as a member of government from a wealthy developer from Montana should give them a break too.

Sen. John Barrasso, a senior member of the Senate Energy and Natural Resources Committee, urged Senate Majority Leader Charles Schumer to delay a confirmation vote for the key Home Office post until ‘So lawmakers can determine whether Ms. Stone-Manning violated Senate ethics rules by not reporting the $ 100,000 loan.

“I urge you to suspend consideration of the appointment of Ms. Stone-Manning until she provides further information regarding this loan,” Barrasso said in a letter Wednesday. “It is imperative that before we vote to confirm a candidate for such an important position, we have all the facts at our disposal so that we can determine whether, as seems likely, she has violated the ethical rules. of the Senate or other laws. “

Ms Stone-Manning, currently senior conservation policy advisor at the National Wildlife Federation, said she repaid the 6% interest loan from real estate developer and Democratic donor Stuart Goldberg last year, which she called a personal friend, but Mr Barrasso said she had not provided any payment documents in response to Senate Republicans’ demands.

He also said she appeared to have broken Senate rules by not seeking a waiver of the Senate Ethics Committee’s ban on gifts from personal friends exceeding $ 250, including loans, while working as Regional Director for Sen. Jon Tester, Democrat of Montana, 2007-2012.

“At best, Ms. Stone-Manning did a poor job of record keeping,” Barrasso said. “At worst, Ms. Stone-Manning took advantage of her leadership position in government in which she was able to influence federal, state and local policies.”

Senator Joe Manchin IIII, who chairs the committee, defended Ms. Stone-Manning at the July 22 hearing on her appointment.

“[T]The friend who loaned him the money was not a lobbyist, and there is no evidence that he loaned him the money because of his official position at the time or that he ever asked for any favors or special consideration because of the loan, ”the West Virginia Democrat said.

Mr Schumer is yet to schedule a vote on Ms Stone-Manning, whose appointment was lifted after the committee split on July 22 on a 10-10 vote, setting up a likely confirmation vote at 50-50 which would require a vice president. Kamala D. Harris to break the tie in his favor.

In the meantime, Republicans continue to stir up opposition to Ms. Stone-Manning. Rep. Bruce Westerman, Republican of Arkansas, last week led 75 House Republicans to call on President Biden to withdraw her nomination, citing her “links to eco-terrorism.”

At least nine rural Utah counties recently passed proclamations urging the Senate to reject the candidate. The American Loggers Council, which represents lumber workers in 30 states, voted unanimously earlier this week to oppose his appointment.

Her involvement in the 1989 tree-hanging incident in Idaho’s Clearwater National Forest dominated debate, but Republicans also urged her to get answers on Mr. Goldberg’s loan aimed at l ” help save his home theater business during the 2008 recession.

While Ms Stone-Manning said she did not view the loan as a gift, “Senate rules and federal law treat a loan as a ‘gift’ with an exception for off-the-shelf loans,” he said. reported Forbes.

Whether she committed mortgage fraud by failing to disclose the loan, a question raised by ethics oversight body American Accountability Foundation, which said it took out three mortgages between 2009 and 2017, also makes subject to scrutiny.

Mr Barrasso said she “has not provided any documents showing that she disclosed this loan to the banks holding her mortgages in the past 12 years.”

“As such, she likely received a lower interest rate that did not reflect her actual financial situation,” the Wyoming Republican said.

Ms Stone-Manning said she could not recall the details in response to written questions submitted by Republican Senator Steve Daines of Idaho about his mortgage applications.

“I don’t remember the details of these loan applications and I don’t have copies of previous mortgage documents,” she said in her response to the AAF’s BidenNoms.com website. “I fully honored the unsecured loan to Mr. Goldberg prior to taking out my current mortgage.”

Mr Barrasso also sent a letter to Mr Goldberg requesting information about his professional and personal relationships with Ms Stone-Manning and her husband, Richard Manning, who ran the home theater business.

The Home Office declined to comment on the criticism of the loan.

As a graduate student, Ms Stone-Manning patched up, edited and posted an anonymous letter to the Forest Service warning of spiky trees on behalf of the perpetrators, then testified against them in 1993 after receiving immunity from prosecution. . She said she wanted to protect forestry workers, while critics argue she should have exposed eco-saboteurs instead of protecting their identities for three years.

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FBI warns residents of western Montana not to fall for kidnapping scam



If you get a call from someone claiming to have a son, daughter or grandson or granddaughter for ransom, the FBI is warning you that it is most likely a scam.

FBI Salt Lake City Public Information Officer Sandra Yi Barker has details.

“The FBI Salt Lake City specifically through our Helena resident agency office, we want to alert the public to an extortion scam called the Virtual Kidnapping scam, which can take many variations,” Barker said. “The crooks have recently targeted some families in western Montana.”

Barker said several scam attempts have already taken place.

“We recently received reports of victims receiving calls from crooks claiming to have kidnapped their loved one and threatening to harm them unless a ransom is paid,” she said. “In these cases, no one is physically kidnapped, but it’s often traumatic for everyone involved. Many of these calls come from Mexico.

Barker provided two examples.

“In a recent incident that we are aware of, a con artist managed to convince a man from Kalispell that his son was in danger and defrauded the victim of thousands of dollars,” she said. “In another case, criminals targeted a woman whose daughter was reported missing from Montana earlier this year. The crooks used fishing techniques and information from social media posts to try to convince the woman that the teenager was in immediate danger and that a ransom had to be paid for her safe return. Fortunately, in this case, the woman did not pay the ransom.

Barker said these scammers often use others to confirm the reality of the scam.

“These are extortion schemes from an individual or a criminal organization that contacts the victim by telephone and demands payment for the return of a kidnapped family member or friend,” he said. she declared. “Although no actual kidnapping has taken place, callers often use accomplices to convince their victims of the legitimacy of the threat. So obviously these cases arouse a feeling of fear, panic and urgency and an effort to push the victim to make a very hasty decision. The instructions usually require that the ransom payment be made immediately and usually by wire transfer. “

Anyone with information on these fraudulent schemes is encouraged to contact the Salt Lake City FBI at (801) 579-1400.

LOOK: What important laws were passed in the year you were born?

The data in this list was acquired from reliable online sources and media. Read on to find out which major law was passed in the year you were born, and learn its name, vote count (if any), impact, and meaning.


3 stocks, flashing signs of a strong insider buy



Eevery investor wants an “in”, an index that will tell exactly what a stock is going to do and when. The kind of signal that cuts the noise of the marketplace and makes sense of the deluge of raw data every business generates. Multiply that data by 10,000 publicly traded stocks, and you’ll get a feel for how intimidating the markets can be.

It’s tempting to follow an expert: a Wall Street analyst or a trading guru. They all have important contributions to make. But here, we’re going to take a look at some corporate insiders. These are names you probably haven’t heard because they are less well known. They are business leaders, with in-depth knowledge of their own business and their business niches.

Insiders know what lies in store for their companies, based on their positions of corporate responsibility – responsibility to directors and shareholders, to generate profits and returns. Which makes their trades a good place to start looking for solid buys.

TipRanks’ Insider Hot Stocks tool offers investors a range of ways to track insiders and data filters that make it easier to analyze research results. We’ve selected three stocks with recent informative purchases to show how the data is working for you.

Nicolet bank shares (NCBS)

We’ll start with Nicolet Bankshares, a regional small-cap banking holding company based in Wisconsin. The subsidiary, Nicolet National Bank, operates 30 branches in Wisconsin and Upper Michigan, offering a full range of personal and business banking solutions, from checking accounts and savings deposits to mortgages, to wealth management. and pension services.

The company has seen strong revenue and earnings over the past 5 quarters, which continued in its latest quarterly report. Nicolet reported 2Q21 EPS of $ 1.77 per share, based on net income of $ 18.2 million. The net was up 34% year-on-year, with EPS gaining 38% – and beating the consensus by more than 8%. Revenue also beat Street’s forecast, increasing 13.8% from the same period a year ago to $ 55.75 million, a pace of $ 19.62 million. The company ended the first half of the year with total assets of $ 4.6 billion, including $ 792 million in cash or cash equivalents.

Management boasts that Nicolet has the most active acquisition record among Wisconsin banks – and as of 1H21, the company made two relevant announcements. First, in April, Nicolet struck a firm deal to acquire Mackinac Financial, a regional bank with $ 1.5 billion in assets. The transaction will close in 3Q21, subject to shareholder approval; regulatory approval has already been obtained.

Second, Nicolet made a deal to acquire County Bancorp, a major agricultural lender in Wisconsin. The county will also bring $ 1.5 billion in assets to the company, with the merger expected to be finalized in 4Q21. Both companies are now seeking shareholder and regulatory approval.

As for insiders, we see that the company’s chief financial officer, Hubert Moore, and a board member, Robert Weyers, have both made informative buys in recent days. Moore spent over $ 510,000 to buy 7,000 shares, while Weyers’ purchase was smaller, $ 253,000 for 3,500 shares.

Writing for Maxim, 5-star analyst Michael Diana sees the company’s acquisition activity as key.

“We believe NCBS deserves a bonus because of its track record of accretive acquisitions, the most recent of which was announced last month…. Since 2016, NCBS has acquired Baylake Corp, First Menasha Bancshares and Choice Bancorp to become the premier independent bank in the demographically attractive areas of Green Bay and Fox Valley. Its recently announced acquisitions of MFNC [Mackinac] and ICBK [County] should continue NCBS’s sequence of successful acquisitions, in our opinion, ”Diana wrote.

Diana gives the stock a buy rating and a price target of $ 94 which suggests a 30% appreciation of the stock over the coming year. (To look at Diana’s background, Click here)

This small-cap banking firm has garnered 3 recent Wall Street reviews – and they all agree it’s a buy-stock, making the consensus a strong unanimous buy. The shares are priced at $ 72.33 and their average price target of $ 89.33 implies upside potential of 23.5% year on year. (See the analysis of NCBS shares on TipRanks)

Bancorp Glacier (GBCI)

The second stock on our list is another bank holding company, this time the parent company of Montana-based Glacier Bank. The company has bank branches in 8 states, including Montana, Idaho, Wyoming, Colorado, Utah and Arizona, Washington and Nevada. Glacier Bancorp is another of many regional mid-cap banking companies, and its subsidiary offers the usual range of banking services to retail and business customers, both in physical and online locations.

Glacier has more than 190 locations, total assets of $ 20.5 billion, deposits of $ 16.8 billion, and loans of $ 11.2 billion. The company’s year-to-date net profit stands at $ 158.4 million. Second quarter income was $ 76.2 million, up $ 14.2 million year-over-year, or 22%. EPS stood at 81 cents, gaining 21% year-on-year and beating the 73-cent forecast by more than 10%. Excluding the government’s Payroll Protection Program (PPP) activity during the corona crisis, the company reported a 10% annualized increase in lending activity, primarily in commercial lending, a gain of $ 249 million. dollars during the quarter.

Like Nicolet above, Glacier is active in acquisition activities and announced a merger with Altabancorp during the quarter. The Utah-based company will contribute $ 3.52 billion in assets once the merger receives shareholder and regulatory approval.

On the insider side, the “informative buy” here was made by Craig Langel, director and chairman of the board of Glacier Bancorp, who spent $ 773,250 on 15,000 GBCI shares.

Brandon King, covering Glacier for Truist, writes: “We view GBCI as a preferred acquirer in a footprint with limited competition and attractive demographic trends. The company has a disciplined credit culture and was able to solve a higher level of problematic assets than its peers a few years ago. Additionally, the company has one of the best repositories in the country, which should provide better NIM support in a higher rate environment. In our opinion, GBCI will likely continue to increase its organic growth with digestible acquisitions given its hard currency. “

King is pricing GBCI at buy and sets a price target of $ 60, which implies a 17% hike over the next 12 months. (To look at King’s background, Click here)

Overall, Glacier shares are getting a moderate buy by analyst consensus, based on 2 takes and 1 buy. The shares are priced at $ 51.18 and their average price target of $ 58 suggests an 11% rise from that level. (See the analysis of GBCI shares on TipRanks)

IMARA (IMRA)

Last but not least is IMARA, a clinical stage biopharmaceutical company engaged in hemoglobinopathy research. Specifically, the company has a drug candidate in the pipeline for the treatment of sickle cell anemia and beta thalassemia. These are two blood disorders – the two sets of related diseases – that cause symptoms of anemia; Sickle cell disease is a genetic disorder that causes deformed red blood cells and can lead to serious quality of life issues and shortened lifespan, while beta thalassemia is a hemoglobin disorder, also inherited, which reduces the ability of blood to carry oxygen. Neither set of diseases currently has a fully effective treatment.

The lead drug candidate in IMARA’s pipeline, IMR-687, is a selective and potent small molecule that inhibits PDE9. PDE9, in turn, plays a role in lowering cGMP levels in patients with blood disorders, with associated inflammation, reduced blood flow, and other symptoms. Blockade of PDE9 has been associated with reactivation of fetal hemoglobin – with consequent reduction in symptoms.

In June, IMARA published final data from a Phase 2a clinical trial of IMR-687 in sickle cell disease that showed a significantly lower annualized rate of vaso-occlusive (blockage of blood flow) attacks (VOCs) in the patients. New patients who started taking the drug also showed a longer delay before the first VOC. IMR-687 was also well tolerated by patients, both as monotherapy and in combination with hydroxyurea.

In insider trading, the key deal from an investor perspective was completed in late July by board member Mark Chin. Chin bought 1.333 million shares for almost $ 8 million. Chin’s stake in the company now stands at more than $ 13.5 million.

Leerink analyst Joseph Schwartz is bullish on IMRA and takes a long-term view when assessing the company’s prospects.

“While IMRA shares have been under pressure this year, we believe encouraging Ph.2a VOC data should give the stock a boost today ahead of expected interim Ph.2b data in the UK. 2H21 … Before the intermediate data of the Ph.2b ARDENT and FORTE in 2H21, we reiterate our OP rating on IMRA, ”Schwartz wrote.

The analyst added, “We currently estimate gross peak sales at around $ 2.8 billion (2035E) and around $ 290 million (2035E) for IMR-687 in SCD and -thalassemia, respectively. We factor clinical and regulatory risks into our probability of success estimates (PoS), which range from 60% / 40% in SCD (US / EU) to 40% / 20% in βthalassemia (US / EU). “

To that end, Schwartz gives IMRA shares a price target of $ 42, indicating genuine confidence and an impressive 661% upside potential from the current share price. (To look at Schwartz’s record, Click here)

Overall, IMRA received two recent buy recommendations from analysts, for a moderate buy consensus rating. (See the analysis of IMRA shares on TipRanks)

To find great ideas for trading stocks at attractive valuations, visit TipRanks Best Stocks to Buy, a recently launched tool that brings together all the information about TipRanks stocks.

Warning: The opinions expressed in this article are solely those of the analysts presented. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Apparently white domestic terrorists are cool … if you’re a democrat



Apparently white domestic terrorism is cool … as long as you’re a Biden Democrat. How the hell does the appointment of Tracy Stone-Manning as head of the BLM still progress?

I can’t wait to get back in the saddle from the Monday morning radio show. While I was out, I tried to stay on top of the news here in Montana as much as possible. If I noticed something that I think would still be worth talking about when I got back on air, I would save the story to have it on hand Monday morning.

Here are some of the stories that caught my attention while I was away.

Appointment of Tracy Stone Manning as Head of the Bureau of Land Management

Even though the former federal investigator has gone public and hammered Tracy Stone Manning for obstructing a federal investigation into an eco-terrorism case she was involved in, her nomination by Joe Biden as head of the BLM is still moving forward. Incredible. Here is a story from the Wall Street Journal. And here is Senator John Barrasso’s editorial in USA Today.

Public billing schools do not require masks

First off, let me say God bless Greg Upham, the superintendent of School District 2 in Billings. So far at least, he says masks will not be required for children at Billings schools. The last hidden nonsense is insane.

While I was away, this Montana Public Radio story also left an impression on me. He presented a reaction from the Montana School Board Association talking about masks in schools:

Melton says school district options are limited by two laws passed in the last legislative session. We demand that elected officials have their say in public health mandates and another bars the schools of consideration of vaccination status when writing the rules.

Bill Daines will audit the CDC

Speaking of this insane push by some to demand masks again, what about the map-wide messages coming from the CDC? I thought it was a cool story. Montana Senator Steve Daines (R-MT) introduced a bill to audit the CDC. They certainly have to be held accountable, right?

Several interesting stories from The Federalist

When I looked at the stories I saved for when I came back to the radio, you know what came out as a common theme? The fact that many of the stories are all from The Federalist. The double standards for the rioters, the hypocrisy of the Congressional Democrats, the Capitol Police officer who defended the BLM rioters but claimed to care about the Capitol rioters, and the list of lies told by Joe Biden – this are just a few of the stories that caught my eye. Oh, and check out this one on illegal immigration.

Big firefighters working in Montana this summer

Of course, I’ve tried to stay on top of the fires that have plagued our state all summer.

When I boarded my flight back to Billings, I was in the cheap back seats watching everyone get on the plane in front of me. I noticed a guy was loading his things into the overhead compartment. His personal bag consisted of a work belt, a radio and a firefighter’s helmet. If the airline lost his bag, he had what he needed to get down to the ground and help fight the blaze. This is yet another reminder to say thank you to all the firefighters out there.

LOOK: What important laws were passed in the year you were born?

The data in this list was acquired from reliable online sources and media. Read on to find out which major law was passed in the year you were born, and learn its name, vote count (if any), impact, and meaning.


Missoula County receives $ 39,000 for Map Missoula initiative



For the second year in a row, Missoula County received a grant from the Montana Land Information Act to support Map Missoula, a project led by the Clerk and Recorder’s Office. The $ 39,046 awarded by the Montana State Library will continue last year’s efforts by funding temporary staff and internships. Real Estate Project Coordinator Sam Scott explains.

“Map Missoula is a great initiative from our office and a few others in Missoula County and even some community partners where we are really working to coordinate our efforts related to mapping efforts,” Scott said. “Rather than having a bunch of different siled portals where people can access property information or find out what’s going on in their neighborhood or see the history of their property or home, we try to put everything in one place and make it easily accessible.

Scott said they continue to innovate and will provide an unprecedented level of access to property records.

“This is the first such program across the country that we have been able to find that really makes an effort to map everything that has been recorded for a property since 1865, since our records here in Missoula County began,” until today, “Scott said.” It will be a live real-time broadcast showing how property and property lines and all of that good stuff has changed over the past 150 years. “

County staff use GIS to map real estate documents such as deeds and mortgages on their respective plots, according to Scott.

“Our files contain approximately 1.5 to 1.6 million documents,” Scott said. “Each of these is going to be mapped to the specific terrain it has an impact on. Obviously, this is a pretty big business and right now we’re just focusing on actions. When people buy and sell property, we match these documents to pieces of land so that we can accurately show the history of our county. “

Scott said Map Missoula also provides a platform to interact with historic Missoula County content sources and community partners.

“We have oral histories of businesses in downtown Missoula so we mapped it in the middle of downtown,” Scott said. “We have some history of Greenough Mansion or other notable buildings, people and events. We have linked all of this to places people can explore, not only the technical act and history of the property, but also the more cultural aspects.

Map Missoula has a five-year project schedule, with completion expected in summer 2024. This year’s grant runs from July 1, 2021 to June 30, 2022.

10 celebrities who lived in Missoula

WATCH: This is the richest city in every state

Just saying the names of these towns immediately conjures up images of grand mansions, fancy cars, and fancy restaurants. Read on to see which city in your home country received the title of richest place and which place had the highest median income in the country. Who knows, your hometown might even be on this list.


Watch now: Consequences of COVID: What can unvaccinated people expect if they are infected? | Local News




More than 2.1 million Americans were on forbearance as of mid-May 2021, according to a recent forbearance and call volume survey from the Mortgage Bankers Association. One in 4,078 homes was the subject of a foreclosure request in the first quarter of 2021; in the second quarter, those numbers were down with 223,671 properties facing foreclosure nationwide, according to ATOM Data Solutions’ 2021 Vacant Properties and Zombies report.

On June 25, the Federal Housing Administration announced additional assistance for homeowners struggling to make mortgage payments. This assistance includes the extension of federal moratoriums on foreclosures and evictions for all single-family mortgages insured by the FHA, as well as extended COVID-19 forbearance application deadlines and a new housing retention option called COVID- 19 Advance Loan Modification (COVID-19 ALM), available to borrowers who are more than 90 days past due or have reached the end of their COVID-19 forbearance.

In addition to federal aid, many major mortgage lenders, including Wells Fargo and Bank of America, have temporarily suspended foreclosures. Other smaller banks across the country also suspended evictions and foreclosures in late spring. The Consumer Financial Protection Bureau (CFPB) is expected to pass a rule by August that would require mortgage agents to allow homeowners until the end of 2021 to resume their payments.

Sundae analyzed state data from the subsequent U.S. Census Household Pulse Survey if respondents are caught up with their mortgage payments. To understand how the economic impacts of COVID-19 affected homeowners’ mortgage payments, Sundae compared the most recent available data collected from May 12 to 24, 2021 and data collected from April 23 to May 5, 2020. Sundae also calculated the percentage of households that lost income and fell behind on mortgages; and the percentage of unemployed residents who fell behind on payments. Each data point also includes the state ranking.

Distressed homeowners have fared better than renters overall, with data showing faster recovery for those with mortgages due to factors such as low interest rates and homeowners receiving more money. protection as tenants from the $ 2 trillion CARES Act. The Consumer Financial Protection Bureau offered another lifeline on June 28 by issuing a final decision to amend Regulation X, putting in procedural safeguards for the time being to give borrowers a full consideration of mitigating the losses before lenders can initiate foreclosure proceedings on various mortgages.

Keep reading to find out what programs (if any) state governments have in place for additional help, and how homeowners are doing in your state.



States where house prices have increased the most in the last 12 months – 24/7 Wall St.




Special report

To give you an idea of ​​the tightening US residential real estate market, take a look at what’s going on in Ketchum, Idaho, about 150 miles west of the state capital of Boise.

Housing in this tourism-dependent city of less than 3,000 residents is so scarce that the mayor recently launched the idea of ​​establishing a tent city for local workers who cannot find permanent accommodation, according to Wall Street. Newspaper. The city council rejected the proposal, but it illustrates how far officials are prepared to go to deal with the housing crisis. (These are the cities with the fastest growing home values.)

Thanks to low interest rates and a surge in demand, some of which has been fueled by urban exoduses of wealthy people fleeing Covid-19 hotspots like New York City, housing stocks have declined while the cost of raw building materials soared. Entire regions of New England and the West, from small tourism-dependent communities to large metropolitan areas, have been hammered by home price inflation since the spring of 2020 (See What’s Now) the most expensive postal code in your state.)

Click here to see the states where house prices have increased the most in the past 12 months.

To identify which states saw the biggest increases in house prices in 2020, 24/7 Wall St. reviewed the price analysis report released on July 6 by the real estate information company. CoreLogic. The ranking is based on the annual change in house prices based on the CoreLogic House Price Index for May 2020 and May 2021.

For comparison purposes, we obtained the annual median house value for each state from the 2019 American Community Survey of the US Census Bureau. 2019 is the latest year for which such data is available.

Those who own homes without mortgages have certainly become wealthier than they were last year. According to real estate information provider CoreLogic, the national average increase in home equity increased by $ 30,000 in May 2021 compared to May 2020. In some markets, this figure is higher, while buyers lead local bidding wars for limited available housing.

As home values ​​continue to appreciate, market watchers see no end in sight – yet. According to the Mortgage Bankers Association, however, housing starts are expected to rise significantly over the next two years, which should provide relief to future homebuyers.



Stockman Bank ranked among the best in the country by Forbes | Local News




According to a Forbes article, a local bank was ranked as one of the best in the country. Stockman Bank, headquartered in Miles City with branches in Terry, Wibaux, Glendive, Richey, Sidney and Plentywood in eastern Montana and 36 branches across the state, was on the coveted list of the best banks in Forbes.

As the US economy recovers from the coronavirus pandemic, banks and credit unions across the country have been at the forefront of a rapid economic recovery. There are just over 10,000 banks and credit unions nationwide, most of them small local lenders who are essential to American life, providing low cost financial products and personalized customer service.

During the pandemic, these lenders were relied on by small businesses and acted as the most active participants in the Small Business Administration’s paycheck protection program, pumping hundreds of billions of dollars into millions of businesses across the country. nationwide, preventing layoffs and business closures. As the recovery is in full swing, these banks and credit unions have gone on the offensive, lending to households buying homes and cars and helping existing homeowners refinance their mortgages to take advantage of low interest rates.

Small community lenders are the most competitive when it comes to offering low rates on mortgages, consumer loans, and deposit accounts. But there is a huge divergence on how the banks are doing. To assess which companies have the most satisfied customers, Forbes has partnered with market research firm Statista to survey nearly 25,000 people in the United States about their banking relationships. The result is our fourth annual ranking of the best banks and credit unions.

Consumers were asked 20 questions about their financial transactions. Banks and credit unions were rated based on overall recommendations and satisfaction, as well as five sub-dimensions (trust, terms and conditions, agency services, digital services, and financial advice). Overall scores ranged from 77.38 to 95.63. Only 2.7% of all banks and 3.6% of all credit unions were on our list.

Domestic financial institutions with branches in at least 15 states were excluded from the final ranking. Nearly a dozen domestic banks were omitted, including Bank of America, JPMorgan Chase Bank, PNC Financial, US Bank, Truist Financial, and Wells Fargo. The Navy Federal Credit Union, which operates in more than 30 states, was the only credit union eliminated for its size.

Between one and five banks and up to ten credit unions in each state received the Best-In-State designation, based on the number of responses in each state. On average, each bank and credit union received 40 consumer surveys that asked users about everything from the ease of use of mobile banking to transparency of fees and interest rates to opening hours and accessibility of bank branches. A total of 135 unique banks and 190 unique credit unions qualified.



Prepare for the sequel as the COVID mortgage boom falters




One year now since secondary spreads for residential mortgages peaked at nearly 4% in the summer of 2020, there is evidence that the residential mortgage market is cooling, especially for more expensive homes. From Westchester County, New York to the Rockies, the COVID-induced race over trophy vacation properties located far from major cities appears to have run its course.

Well-placed mortgage finance official reports that in White Fish, MT there are a lot of out-of-state license plates, the city is full of newcomers and offers for seven-figure homes and more who have passed out in the past 90 days. . A similar phenomenon in suburban New York has also taken its course, suggesting that the first part of the COVID trade in expensive escape houses is over.

Even though the bond market has seen the benchmark 10-year T-bill yield fall below 1.3% of the yield, consumers don’t seem to be reacting, suggesting there may be more than a slight real estate burnout in the world of mortgage financing as well as in related fields such as construction and home improvement.

“The lukewarm reaction of US homeowners to lending rates close to 3% makes mortgage bond investors question whether the wave of refinancing is over,” writes Chris Maloney in Bloomberg News. “The decline in Treasury yields is not a signal that the economy is about to experience robust growth.”

Maloney notes that the increase in the mortgage industry’s workforce in 2020 was much lower than that seen in 2008, no doubt due to the large productivity improvements seen in the industry. But this increase in productivity will only lead to more intense competition for declining credit volumes during the year.

Some lenders, of course, continue to increase the numbers of LOs and operations professionals in preparation for what one industry veteran calls “the final battle.” United Wholesale Mortgage, for example, pursued a scorched earth strategy of matching the secondary market price of any loan in the wholesale channel.

Such beggar-thy-neighbor behavior prompts mortgage bankers to be very bearish on future profitability. Fannie Mae’s mortgage lender sentiment survey for the first quarter of 2021, for example, showed that more than half of those polled expected both income and profits to decline for the remainder of the year. .

“More than two-thirds of those polled, 69% said their profits would decline over the next three months, while only 11% expected them to increase, for a negative net differential of 58%,” reports Brad Finkelstein of NMN.

“Net share measures the difference between the percentage who think profits will be higher and those who say they will be lower. It’s been three consecutive quarters in which lenders were pessimistic about their profitability.”

Even though volumes are tightening, some major lenders continue to expand their capacity. Citigroup, for example, continues to add operations positions nationwide, including senior underwriter and sales positions. The central monetary bank largely abandoned residential mortgage lending half a decade ago, but now appears to be returning to the mortgage market.

The more difficult operating environment for lenders means that expense management is making a comeback, including not leaving money on the table. When it comes to mortgage management rights, for example, issuers are increasingly focusing on monetizing MSRs rather than ceding them.

“Last year the spreads were so wide that we were effectively paying people to take MSRs,” recalls one senior issuer. “Now that behavior seems absurd with service assets trading north of five times cash flow.” The issuer says Hot Trade is now buying MSRs from the government for the purpose of refinancing FHA loans into conventional ones.

The volume of purchase mortgages continues to be high, Ed Pinto notes at the American Enterprise Institute, with a week 26 36% higher than the same week in 2019 and about the same level as 2020. As refinancing volumes slow, the mortgage market remains strong and on track for another good year , but with significantly lower margins.

As the real estate complex shows signs of slowing down and cost management is once again the priority of rational market players, the Federal Open Market Committee is repositioning itself for a reduced purchases of mortgage-backed securities and even TBAs. The Fed has skewed the mortgage market through “quantitative easing,” reducing years of mortgage lending and home sales, along with related consumer spending, to just a few months in 2020.

A senior industry regulator expressed concern that independent mortgage banks (IMBs) could take 3-4 outlets from a mortgage sale last year. The point is, the Federal Open Market Committee made this increase in profits inevitable, but now follows a period of lower volumes and narrowing spreads. And a reduction in the Fed’s purchases of MBS could see mortgage rates rise significantly.

IMBs that have been wise enough to limit profits and hold MSRs when cash has been plentiful over the past year now have the luxury of either selling those increasingly valuable assets or taking advantage of the cash. Companies that have not retained their services now have to survive on their cash and investments as secondary market execution slips into the red.

The migration of risk from the FHA market to the conventional market by Fannie Mae and Freddie Mac is also of concern, as a result of the home price appreciation by the FOMC via low interest rates. The flow of refinancing volumes from government loans to conventional assets, for example, could push Ginnie Mae’s MBS volumes into net runoff for 2021.

Changes made by former Federal Housing Finance Agency director Mark Calabria at the GSE cash desks, for example, crimped these GSE volumes, but the production of simple vanilla made the difference. Small IMBs were forced to rediscover the joys of issuing their own MBS.

The changes to the cash window contained in the latest preferred share purchase agreement between the GSEs and the Treasury had a significant impact on the earnings of some mortgage issuers. Don’t expect these changes, which have allowed some aggressive issuers to access effectively lower guarantee fees and avoid valuations, to change anytime soon.

Ironically enough, FHFA interim director Sandra Thompson, who drafted the draconian capital rules for GSEs, may soon be under pressure to make changes to counter a slowdown in the housing sector. Many of the reforms of the Calabrian era were the result of public rule making, so don’t look for quick changes in the PSPA or the capital rule.

One possible area of ​​change by Thompson is the price adjustments for loans over ten years old, pricing rules that were put in place to prevent consumers from refinancing and thus protect GSEs after 2008. changes will also affect profitability and risk. profiles of GSEs, showing that tight spreads and falling volumes are a challenge for everyone in the housing finance complex.



Tunnel to Towers delivers 20 mortgage-free homes in honor




Staten Island, NY, July 02, 2021 (GLOBE NEWSWIRE) – On Independence Day, the Tunnel to the Towers Foundation paid off mortgages on the homes of 19 deceased first responders and handed over the keys to a brand new home without a mortgage Smart home to the chief petty officer of the US Navy, Austin Reese.

The 20 houses are located in 15 states:

  • Special Agent Daniel Alfin, FBI – Florida
  • Special Agent Laura Schwartzenberger, FBI – Florida
  • Senior Police Officer Jesse Madsen, Tampa Florida Police Department
  • Deputy Sheriff Michael Magli, Pinellas County Sheriff’s Office – Florida
  • Sergeant Damon Gutzwiller, Santa Cruz County Sheriff’s Office – California
  • Police Officer Vu Nguyen, Cleveland – Ohio Police Division
  • Police Officer Craig Comstock, Bellefontaine – Ohio Police Department
  • Deputy Commander Patrick Carothers, US Marshals Service – Georgia
  • Corporal Stephen Ballard, Delaware State Police Department – Delaware
  • Firefighter James Woods, Jersey City Fire Department – New Jersey
  • Cavalier Joseph Gallagher, New York State Police – New York
  • Patroller Troy Jacobson, Momence Police Department – Illinois
  • Fire Chief Darin Sabine, Newington Fire Department – New Hampshire
  • Trooper II Nathan-Michael Smith, Virginia State Police – Virginia
  • Corporal Shane Totty, Baton Rouge Police Department – Louisiana
  • Detective Curt Holland, Commerce City Police Department – Colorado
  • Detective James Kirk, Stanton Police Department – Kentucky
  • Police Officer Kejuane Bates, Vidalia Police Department – Arkansas
  • Deputy Sheriff Mason Moore, Broadwater County Sheriff’s Office – Montana
  • Chief Petty Officer Austin Reese, US Navy – Montana

FBI Special Agent Daniel Alfin and FBI Special Agent Laura Schwartzenberger were killed in the line of duty on February 2, 2021, while serving a federal search warrant in an investigation into crimes against children.

“Having my house paid for is a great relief. This will allow me a certain sense of security that we will be able to stay in the neighborhood and the community that have supported us so much, especially since it is the neighborhood that Daniel and I have chosen together,Special Agent Alfin’s widow said.

For Special Agent Schwartzenberger’s husband, the Foundation’s support allowed him to focus on their children. “It’s like a huge weight has been lifted from my shoulders knowing that I can focus on taking care of our boys and having a home that is all ours. To have our mortgage paid off on Independence Day is truly amazing because we can celebrate our beautiful country knowing that there is so much kindness out there to support first responders and their families.

Tampa Police Master Jesse Madsen, Police Officer was killed on March 9, 2021, when he intentionally stepped into the wrong way of the driver and gave his life to save the lives of others.

He is survived by his wife Danyelle, also a police officer, and their three children.

After hearing the news from my husband it was all messed up and surreal. In the days that followed, one of my worries was having to leave the house that our family made of our home. How can I go back to my job as a police officer to pay off a mortgage with my kids begging myself not to come back for fear of losing another parent? Your foundation has restored much of my sense of security and I can never thank you enough“said Danyelle Madsen.

Broadwater County Sheriff’s Deputy Mason Moore was shot dead while involved in a high speed chase. He leaves behind his wife Jodi, twins and a daughter.

Jodi said supporting Tunnel to Towers would have meant a lot to her husband. “Providing a roof over the head of a family is a huge gift and a blessing. This is the first time in a long time that I feel like I could survive this. I fight hard to make Mason proud of my choices and to take care of our children. Please help me with this. “

the Tunnel to the towers Fallen First Responder Welcome Program reimburses the mortgages of the families of law enforcement officers and firefighters killed in the performance of their duties with young children.

“On this Independence Day, Tunnel to Towers is providing financial independence to the families of deceased first responders by paying off mortgages on the homes of these heroes. We cannot replace the loss of a husband and a father, but we can ensure that these families can stay in the place they called home ”, mentionned Tunnel to Towers Chairman and CEO Frank Siller.

the Tunnel to the towers Smart Home Program custom builds specially tailored mortgage-free smart homes that help our most seriously injured veterans regain their independence every day.

July 1 in Whitefish, MT, Chief Petty Officer Austin Reese and his family were welcomed into their brand new home without a mortgage Smart home.

SCPO Reese, a senior chief explosive ordnance disposal technician, served 13 years in the US Navy explosive ordnance disposal unit and has deployed three times to Iraq.

In September 2013, during a routine jump to Joint Expeditionary Base Little Creek-Fort Story, SCPO Reece miscalculated its altitude and struck the ground at 65 miles per hour. He suffered a spinal cord injury that left him paralyzed. SCPO Reese, his wife Charity and their daughters were shocked when they saw their new smart home for the first time.

This house will allow me to regain much of my independence, allow me to be part of my family again, to help with cooking and cleaning, and just normal daily life and daily chores. I can’t thank everyone enough for this gift to my family and myself,Said SCPO Reese.

This year is the 20th anniversary of the Tunnel to Towers Foundation, and to mark 20 years of DOING GOOD, the Foundation has pledged to deliver 200 mortgage or mortgage-free home repayments across the country by the end of the year.

For more information on Tunnel to Towers’ mission to support U.S. veterans, fallen first responders, and Gold Star families, go to T2T.org and consider donating just $ 11 per month.

For more information on the events of Tunnel to Towers to mark the 20th anniversary of the September 11 attacks, visit T2T.org/20-Anniversary/.

About the Tunnel to Towers Foundation

The Tunnel to Towers Foundation is dedicated to honoring the sacrifice of FDNY firefighter Stephen Siller, who sacrificed his life to save others on September 11, 2001. For 20 years, the Foundation has supported our country’s first responders, the elders fighters and their families by providing these heroes and the families they leave behind with homes without mortgages. To learn more about the Tunnel to Towers Foundation and its commitment to DO GOOD, please visit T2T.org.

Follow Tunnel to Towers on Facebook, Twitter and Instagram at @ Tunnel2Towers.




Good Girls: Annie helps Ben by leaning on her ex, Kevin




In NBC’s Good Girls, Annie resolves a major financial problem with her son, Ben, by creating another disaster that will dramatically affect her home.

WARNING: The following contains spoilers for NBC’s Good Girls Season 4, Episode 9, “Chef Boyardee”.

In NBC Good Girls, one of the biggest issues with the show has been Annie’s (Mae Whitman) immaturity. She often complicates the criminal efforts of Beth (Christina Hendricks) and Ruby (Retta) with all of her personal issues, but Season 4 has found her on more stable ground. Sadly, Annie reverses much of her progress when she resolves a major issue with her son, Ben, by creating another that will severely affect his home.

Annie needs to get her things in order so that she can get financial help for Ben at his new school. She knows her ex is in financial trouble, so Annie decides to foot the bill for the new prep school where Ben is finally happy, but it costs a lot. Still, Annie doesn’t want to break the momentum as he plays sports and adapts quite well to life after his gender transition – something never seen before.

RELATED: Good Girls: Stan & Ruby Get Too Deep In Dangerous Side Fuss


The problem is, she has no one else to rely on. Beth has mortgages up to her neck and is married to Dean so the fraud is obvious. Ruby has her family with Stan, so Annie can’t ask her either because all she needs is someone to share her address. That’s where Annie’s most regrettable adventure, Kevin, comes in. He’s homeless, which was a weird fetish Annie had in their banter, and that creates the ultimate asset.

She is desperate, so she visits him in his car and asks him to sign the papers. She basically needs him to pretend to be her significant other, and he does. However, he tells her to leave him alone as he is unlucky and hates being used.

RELATED: Good Girls: Rio Uncovers Beth’s NASTY Secret – And The Consequences Are Disastrous

Annie succeeds with the project a few days later, but in breaking the news to Ben, Annie reveals a major change in their domestic life. Apparently a tree has fallen on Kevin’s car, so he needs a new home, which, ironically, Annie can provide for him. Ben is stunned as he always berates his mother for sleeping with Kevin, and he is sensitive to their home environment as he still babysits Annie.


As for Annie, it could be that Kevin pushed her hard in this movement, but she felt a little guilty. It may even become a romance again, but since he really is that crazy it will frustrate Ben and set up a parcel arguments. It’s also worth noting that if Kevin gets wind of Annie’s criminal empire, he might blackmail her for money or want to get into it. Plus, if he knows, he might be wrong and let Ben know the dark truth about Annie’s extracurriculars with the ladies.

Good Girls stars Christina Hendricks, Mae Whitman, Retta, Matthew Lillard, Reno Wilson and Manny Montana. Season 4 airs Sundays at 10 p.m. ET / PT on NBC.

KEEP READING: Good Girls FINALLY Got Its Own Housewives Civil War


Loki Ravonna

Loki: Renslayer’s Past Hides Another Link To [SPOILER]


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If the Federal Reserve stopped buying mortgages




With house prices soaring, some Federal Reserve officials have called on the central bank to pull out of the mortgage securities market.

Why is this important: The Fed bought $ 40 billion worth of Mortgage Backed Securities (MBS) each month in an effort to keep interest rates stable and bond markets highly liquid.

The big picture (depending on who you ask): Ending MBS purchases could hamper the housing market and lead to lower prices, or stopping buying from MBS wouldn’t do much to price as they weren’t specifically targeting that market in the first place.

What they say : The Boston Fed’s Eric Rosengren warned the FT that housing “boom and bust cycles” threaten the rest of the economy, reiterating his earlier statements that the mortgage market does not need the Fed.

  • Robert Kaplan of the Dallas Fed and James Bullard of the St. Louis Fed agree.
  • Allianz chief economic adviser Mohamed El-Erian is more blunt, telling Axios: “It is very difficult to argue with any foundation that this burning housing market needs continued support under the form of monthly purchases of mortgage-backed securities by the Fed.
  • “The benefits of the Fed maintaining its purchases are more than outweighed by the costs and risks, whether to the functioning of the housing market or to the financial stability and well-being of the economy as a whole.”

Between the lines: While some argue the Fed risks instability going forward, a longtime Fed observer Matthew C. Klein argues that these purchases are the reason why there is no After financial instability today.

  • “The Fed’s mortgage bond purchases don’t specifically target the housing market, but interest rate volatility more generally,” Klein told Axios. “The Fed effectively absorbs interest rate volatility on its own balance sheet.”

The plot: SGH Macro Advisors economist Tim Duy argues that while MBS purchases are not intended specifically for home purchases, ending those purchases should not disproportionately affect home prices. Thus, an attempt to remedy the “bad outlook” of high house prices may fail because prices may not come down.

And after: Most economists expect the Fed to announce its intention to reduce its purchases of MBS and Treasuries by the end of the year, possibly as early as the Jackson Hole symposium in late August.





Best Mortgage Lenders of July 2021 – Forbes Advisor




Guild Mortgage offers in-person and online mortgage services. With offices in 31 states, borrowers who prefer to do business face-to-face can visit a branch. Conversely, borrowers in 48 states (except New York and New Jersey) can apply online through its MyMortgage digital mortgage program.

Guild Mortgage is a great option for borrowers with a lower credit rating, as it has a minimum requirement of 600, which is about 20 points lower than the average lender requires. Applying for a home loan through Guild Mortgage is also relatively easy and quick, making it a great choice for people who can’t afford the wait.

Forward-thinking, Guild Mortgage provides services such as automatic client matching with down payment assistance from national and local programs, which is ideal for people who may not have the time to do the research. themselves.

For buyers in a hurry, the lender offers a Homebuyer Express 17-day close-out guarantee program. That’s considerably faster than the industry average of 43 days to shut down, according to Freddie Mac. The guarantee states that the lender pays $ 500 for closing costs if the loan does not end on time due solely to a delay in the Guild mortgage.

Available in most states

Guild Mortgage is available online anywhere in the United States except New York and New Jersey. There are branches in 31 states including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa , Kansas, Louisiana, Missouri, Montana, Nebraska, Nevada, New Mexico and North Carolina. , North Dakota, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin and Wyoming.

How to register

Guild Mortgage offers both branch offices and online access to borrowers who wish to apply for a mortgage. Their paperless application process allows borrowers to send documents electronically as well as apply and go through the application process online.

Telephone support is very limited, operating only Monday through Friday 6:00 am to 5:00 pm PT; the lender is closed on weekends.

Speed

Pre-approval times are not as fast as those of other lenders, with a lead time of 1 to 3 days for pre-approval letters. However, Guild Mortgage offers a 17-day closing guarantee, which can be of interest to borrowers who need to close quickly.

Credit requirements

Guild Mortgage’s minimum credit score requirements differ by mortgage. The lender offers loan options to buyers with a credit score as low as 600. The minimum requirements for each program are as follows:

  • Down payment assistance: 620 (depending on each state’s program)
  • FHA: 600
  • Conventional: 620
  • FW: 600
  • USDA: 600
  • Jumbo: 680

Types of loans offered

Guild Mortgage Loans offers both mortgage loans for buyers and refinancers. Its product line includes conventional and jumbo fixed and adjustable rate (ARM) mortgages, FHA, USDA and VA loans. The Lender’s MH Advantage Program is designed for borrowers who purchase a manufactured home. According to Fannie Mae’s guidelines, MH Advantage borrowers must have a minimum credit score of 620. Guild Mortgage also offers FHA home improvement loans and reverse mortgages.

For new construction, the lender offers its StrongStart program. StrongStart allows a builder’s closing cost credit to be used for interest on the first three months of a borrower’s monthly mortgage payments. This program is offered with FHA and VA funding (standard and high balance limits).

Guild Mortgage does not offer home equity loans or home equity lines of credit.



How to apply for unemployment




We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money.

The federal government has played an unprecedented role in supporting the unemployment insurance program over the past year.

But for Americans who have lost their jobs – in large part thanks to the pandemic – the process still goes through the unemployment office in the state they live in. And as the unemployment rate drops, new claims continue to be filed, and millions more have already crossed the line into long-term unemployment.

Every state works differently, so what works for some Americans to get the benefits they are due does not work for others. Some unemployed people decide that the hassle of navigating their public system is not worth the benefits they might be entitled to, leaving money on the table that could help when times get tough.

While each state manages its own unemployment insurance program, several national programs adopted over the past year have provided additional support.

More recently, the American Rescue Plan extended major federal unemployment insurance programs and an additional unemployment benefit of $ 300 per week until September 6, 2021. These federal programs include emergency compensation for pandemic (PEUC) and the unemployment pandemic assistance program (PUA). .

The PEUC program provides that states extend benefits to people who have already used their maximum available public benefits, while the PUA program allows workers who would not normally be eligible for unemployment – such as the self-employed and temporary workers – to receive benefits. But it always starts with your state unemployment office.

Whether you are filing for the first time or trying to stay on top of previously filed claims, we’ve put together the information you need to get in touch with your state unemployment office and help ensure that your requests are going as smoothly as possible. :

What do you have to deposit for unemployment?

You will need some basic information about your personal and work history to file for unemployment. Although individual states may vary in what is required to file an unemployment benefit claim, the following documents / information are standard:

  • Social Security number
  • Driver’s license or state card
  • Detailed employment history for the last 18 months (company / employer name, address, start / end dates, total number of days / hours worked)

Gathering and preparing this information before submitting your application will save you time and simplify the filing of your application. If you are filing your application over the phone, it is even more important to prepare this information in advance – along with anything your state needs – as state employment offices can be difficult to reach by phone. .

How to file an unemployment claim in each state

State unemployment office websites can be old and difficult to navigate, so we’ve tried to find the most applicable links and phone numbers for people who want to re-apply for unemployment or verify an existing one. .

Use this information as a starting point for finding the information you need for your state, but you will likely benefit from further reading and researching your state’s unemployment insurance processes before you file your case. For example, some states will automatically apply additional federal unemployment benefits based on individual eligibility, while other states require people to file separate claims for different additional benefits.

Unemployment offices have been inundated with new claims over the past year, and a common theme in our reports is how you need to be your biggest advocate in pursuing the benefits you are entitled to. If you’re having trouble reaching someone to help you file or verify an existing jobless claim, consider checking out Facebook, Reddit, and other social media sites for Unemployed Groups and Communities for advice on access to local offices are shared.

Here are the best links and phone numbers we could find for filing and verifying unemployment claims. Many of these phone numbers, and even some online filing apps, are only available during normal weekday business hours. Some states recommend different methods for filing or verifying existing claims, so start there, if applicable.

Alabama

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Alaska

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Arizona

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Arkansas

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California

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Colorado

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Connecticut

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Delaware

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District of Colombia

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Florida

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Georgia

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Guam

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Hawaii

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Idaho

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Illinois

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Indiana

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Iowa

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Kansas

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Kentucky

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Louisiana

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Maine

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Maryland

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Massachusetts

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Michigan

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Minnesota

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Mississippi

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Missouri

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Montana

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Nebraska

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Nevada

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New Hampshire

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New Jersey

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New Mexico

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new York

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North Carolina

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North Dakota

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Ohio

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Oklahoma

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Oregon

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Pennsylvania

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Porto Rico

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Rhode Island

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Caroline from the south

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South Dakota

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Tennessee

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Texas

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US Virgin Islands

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Utah

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Vermont

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Virginia

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Washington

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West Virginia

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Wisconsin

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Wyoming

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Other unemployment and relief resources

We’ve covered unemployment and other aspects of the economic challenges Americans have faced since the start of the pandemic. Here are some of our past stories that contain information that may be useful if you are filing for unemployment:



Robert Gottlieb on the man who saw America (and we mean, all of it)




“Segregation… has an aspect that is sometimes overlooked, namely that thousands and thousands of good white citizens never have any contact with blacks except with domestic workers and service trades; … Whites and blacks with similar professional interests hardly ever meet. There are 55,000 black college graduates in the United States. Most whites in the South have never seen one.

“About a million negroes entered the armed forces [during the war]. Many were treated decently and democratically by whites for the first time in their lives; the resulting fermentations were explosive. … A famous remark is that of the black soldier returning from Okinawa across the Pacific. ‘Our the fight for freedom, ”he said,“ begins when we get to San Francisco. “

Knoxville is “an extremely Puritan town, serves no alcohol stronger than 3.6% beer, and its more worthy taprooms close at 9:30 pm; Sunday movies are prohibited and there is no Sunday baseball. Maybe that’s why it’s one of the less orderly cities in the south – Knoxville leads all other Tennessee cities in homicide, auto theft and theft.

Governor Arnall of Georgia told Gunther that “speaking to Mr. Roosevelt one day, he remarked, ‘We don’t really have a problem with black people in the South; it is the white agitators of the Nawth that are causing trouble. Mr. Roosevelt (who liked him), turned to him with that well-known wink: “You mean, Eleanor? “”

A Navajo chief whom Gunther met “is now 85 years old and has held this position for 61 continuous years, although not a Navajo by birth.” His father was killed by looters as early as 1862, and he does not know who his mother was. But his own son went to Harvard, married a white girl, and is now an Indian Bureau official. I don’t know of a more stimulating example in America of the variety of experiences a man can have in a lifetime.

No other country, says Gunther, “could have titles like WAR WITH JAPAN PERILS WORLD SERIES… tabloid about a soon-to-be electrocuted woman, SHE BRLERA, GRISERA, FRY!

What drives Gunther’s amazing energy, focus, and recall is his almost insane curiosity. “Inside USA” is a voyage of discovery for him as much as for us, and after more than 900 pages, his curiosity is unfulfilled, because he regrets all that he could not explore and reveal. “There is nothing in this book, and now it’s too late to put it, about how planes spray DDT on trees in Oregon or why Pullman sinks have the water faucet so close.” . … I didn’t even mention that there were 72,000 GIs named Smith… or kids in scarlet mufflers together patting their scarlet mittens and listening to Santa Claus in the snow in a public square in Vermont; or college fraternities and sororities and their adolescent torments; or the isolated red stations and their greased water towers and switches in northern Minnesota; or people as authentically a part of the American scene as Little Orphan Annie, Terry and the Pirates, Blondie and Superman. And so on. You can feel him mourning the fact that he has not yet 900 pages to fill.

And then there is America’s future to contemplate. “There is no valid reason why the American people cannot craft an evolution in which freedom and security are combined,” Gunther concludes. “Strangely enough, it’s sooner, not later, than you might think. The fact that a third of the nation is poorly housed and malnourished is, in fact, less of a disgrace than a challenge. What Americans need to do is expand the dimensions of the democratic process. This country is, I heard it once said, absolutely ‘bad in size’ – with not only the greatest responsibilities, but also the greatest opportunities ever known to man. “Finally,” Within the United States.Is the involuntary story of a man falling in love with his crazy and wonderful country.



Worst Corruption Scandal in Every State – 24/7 Wall St.




Americans trust their political institutions less and less. Puh a Gallup poll, less than 40% of Americans have “a lot” or “a lot” of confidence in the presidency, which is the case since 2010. More than 80% of Americans have had “a little”, “very little”, or “not” Of confidence in Congress for over a decade.

This distrust of US policy likely stems, at least in part, from the litany of scandals that have trapped officials at all levels. While misconduct at the national level, like Watergate or President Bill Clinton’s extramarital affair, tends to gain more attention, corruption has been seen at the state level in all parts of the country.

24/7 Wall St. scanned local reports, media coverage and other historical documents to find the worst corruption scandal in every state’s history.

While these scandals are each unique, they all have a common DNA – someone with some power from the public position he holds by using that power for himself or his family. Regardless of location or political affiliation, it appears that all types of U.S. officials are susceptible to wrongdoing.

In some cases, these scandals are simple cases where politicians accept bribes in exchange for promoting favorable legislation for a business or individual. In others, scandals involve officials taking funds meant to help the community and spending it generously on themselves, buying houses, cars and vacations. Still others are more complex ordeals, involving blackmail, false accusations, extramarital affairs and sometimes even murder.

Unethical conduct is not new, with some cases of wrongdoing on this list unearthed over a century ago. And despite increased regulation, such conduct persists, with some instances of misconduct being actively pursued in June 2021.

Corruption does not exist in a vacuum and widespread misconduct can indicate a lack of institutional control. This may stem from a lack of laws on how public servants should behave, lax enforcement, or even a pervasive culture of unethical transactions. They are the best and worst-run American states.

Click here to see the worst corruption scandal in every state.



The government approved 3,000 underprivileged restaurateurs for a bailout fund, then got the money back




Cover COVID-19 is a daily Poynter briefing of article ideas on the coronavirus and other hot topics for journalists, written by Senior Professor Al Tompkins. Sign up here to have it delivered to your inbox every morning of the week.

Journalists, there are a few thousand people who need you to look at this. These people need help.

My friend Joel Freedman sent me a video he made of a woman at the Tampa courthouse who runs the cafe there. She has a visual impairment and is having difficulty making ends meet because the courthouse has been, for all intents and purposes, closed for a year. Worst of all, it closed without warning, so she had thousands of dollars worth of supplies in her fridge when suddenly there were no customers.

Then the federal government approved her and nearly 3,000 other restaurant owners for a rescue grant specifically for women, veterans, and socially and economically disadvantaged operators.

Then the Small Business Administration froze the money and canceled the grants due to federal lawsuits in Tennessee and Texas. You know how long it takes for things like this to work out.

In the meantime, the SBA will take its revitalization money and distribute it to the hundreds of thousands of other restaurateurs who applied but were not in the line of priority given to the most disadvantaged business owners. By the time the lawsuit that blocks their grant is settled, it is highly likely that all of the SBA’s money will be spent. The Restaurant Revitalization Fund has already distributed $ 27.4 billion of its 28.6 billion allocated funds. There is an effort underway in Congress to add more money to the fund, but it is far from certain.

The National Restaurant Association just got involved and is urging the SBA to find money to help. We do not know where this would come from. The SBA says operators who have been approved and unfunded can still apply for loans, but the loans are not grants and should be repaid.

The New York Times explains the lawsuits that blocked the grants:

On May 27 – three days after the end of the 21-day priority period – a three-judge panel of the United States Court of Appeals for the Sixth Circuit sided with Antonio Vitolo, owner of the Jake’s Bar and Grill in Harriman, Tenn., Who said he had been “pushed to the back of the pack” because he is a white man.

In a 2: 1 decision, the court said: “When the government enacts policies based on race, it has to operate with a scalpel. The Small Business Administration’s “scattered approach” was unconstitutional, the court ruled.

Matthew McClanahan, an attorney for Mr Vitolo, said his client was happy with the decision.

A similar case in Texas by the owners of two restaurants – the Lost Cajun in Keller, Texas, and Penn Hotel Sports & Raw Bar in Hershey, Pa. – accused the government of “actively and unduly discriminating against US citizens solely on the basis of their race. and sex. Judge Reed O’Connor ruled against the agency on May 28, ordering it to assess plaintiffs’ claims “in accordance with a race and gender neutral ‘first come, first served’ policy.”

At the end of this month, the Center for Disease Control and Prevention’s ban on evictions will end with her. So many stories await your cover, including:

  • Will the CDC try to extend the ban?
  • Will states and cities impose their own bans or expand the ordinances they have put in place?
  • How big is the problem in your community after the federal government offered payments to landlords if they paid back some of the rent that was still owed in arrears?
  • How well have stimulus payments helped tenants catch up on rents?
  • How quickly will courts and officers handling foreclosure cases start evictions?
  • Will the heatwave in the southwest of the United States be a factor of evictions?

A new Harvard University housing report warns more than 2 million homeowners are behind on their mortgages. The US Census Bureau’s bi-weekly Household Pulse Survey shows that nearly 4.2 million people nationwide say it was “likely” or “somewhat likely that they will be evicted or seized within the next two years. month ”.

The Harvard study found:

The shares of tenants behind on housing payments vary widely across the country.

  • The states with the highest concentrations of late payments are in the Southeast, with Mississippi topping the list at 27%, followed by Delaware and Louisiana, both at 25%.
  • The lowest shares are found in the Midwestern and Mountain West states, including Idaho, North Dakota, Montana and Utah, where less than 12% of renters were behind on their housing payments in early 2021.

With so many tenants in financial difficulty, an impending wave of evictions is causing great concern.

You can see the same geographic trends in the latest Census Bureau Pulse survey.

(Census Bureau Pulse Survey)

I also pulled data from the major metropolitan areas that have some of the highest rates of late renters:

(Census Bureau Pulse Survey)

States are approaching the end of the moratorium on evictions differently. In California, for example, Los Angeles, San Francisco, and San Diego all have different end-of-moratorium dates.

In Kentucky, the city of Louisville says it has federal rent assistance, but applications take time to process and the assistance will not be ready for distribution until after a moratorium on evictions. This is exactly why some people are pressuring President Joe Biden to extend the CDC moratorium for the fourth time. PBS “NewsHour” reports:

“The latest data confirms two things – emergency rent assistance is very slow to reach tenants in need, and millions of tenants are falling behind on rent and are at increased risk of eviction,” said Diane Yentel, chair of the National Low-Income Housing Coalition, said in an email interview. “President Biden must extend the moratorium on evictions to give rent assistance more time to reach tenants and landlords and to avoid a historic wave of evictions this summer and fall.”

Kansas City’s KSHB-TV reports:

With no sign of another extension, Kansas City organizations that help with rent and utility assistance are seeing an increase in requests.

“We are absolutely in crisis,” said Becky Poitras, director of development at Metro Lutheran Ministry.

“Our phone rings every day,” Poitras said. “I just checked my voicemail and I have 15 calls from households trying to check the status of their housing application because they are in urgent need of rent assistance.”

In New Jersey, even though the state is no longer in a state of COVID-19 emergency, the state’s eviction moratorium order remains in place and may remain so until next year.

CNBC says:

  • Tenants in Kenmore, Washington cannot be evicted until October.
  • In New York, tenants are safe until August.
  • In Vermont, for example, most evictions are prohibited until 30 days after the state of emergency ends, meaning that from now on, troubled tenants are safe until at least mid-July.
  • Although Oregon’s eviction ban expires at the end of the month with the CDC, tenants cannot be evicted for rent due between April 2020 and June 2021, and they have until end of February 2022 to make these payments. “

Other cities and counties have their own policies to protect tenants affected by Covid.

  • The city of Austin and surrounding Travis County in Texas are banning resumption of evictions until August.
  • Kenmore City Council in Washington voted this week to extend its moratorium until October. Seattle could be next.
  • In Minnesota, lawmakers just struck a deal banning the eviction of any tenant seeking rental assistance. This protection will last 12 months, until June 2022.
  • Neither can tenants in Nevada be evicted if their application for rent assistance is pending or if their landlord refuses to accept the assistance.

California Governor Gavin Newsom recently announced that California will cover 100% of the rent owed by tenants. One wonders if the state has enough money to do what the governor has promised. PolicyLink, a national research and action institute, estimates that approximately 900,000 California households are in arrears with rent, with an average of $ 4,600 in rent owed.

Nationally, however, the amount tenants owe is even higher. The Philadelphia Federal Reserve estimates:

By March 2021, 1.8 million renter households (5.4% of all renter households and 15% of those who lost their jobs) will owe $ 11 billion in rent, or about $ 6,100 each. These 1.8 million households contain 5 million individuals.

(Harvard Joint Center for Housing Studies at Harvard University)

SCB Reports:

Most homeowners at risk of foreclosure are either low-income families or families of color, said researchers who released the 2021 State of the Nation’s Housing report. Congress has spent $ 10 billion to help homeowners catch up on payments, but it’s unclear whether that funding will reach families before mortgage companies start sending foreclosure notices, according to Researchers.

This June 2, 2021 photo shows an American Airlines plane at the Ronald Reagan Washington National Airport in Arlington, Va. (AP Photo / Jenny Kane)

Today, Italy opens its borders to travelers from the countries of the European Union, the United States, Canada and Japan. Germany will admit Americans from June 20, regardless of their vaccination status.

There are still some formal steps to be taken, but the European Council said member states should “gradually lift travel restrictions at the external borders” for a number of countries, including the United States.

Portugal reopened access to visitors last week, but then saw an increase in COVID-19 infections and announced a weeklong lockdown in Lisbon in an attempt to regain control of cases.

Americans with a negative COVID-19 test or who have full proof of vaccination are already allowed to travel to Greece and Spain. But now European Union countries are encouraged to allow residents of other countries including Albania, Australia, Israel, Japan, Lebanon, New Zealand, Republic of North Macedonia, Rwanda, Serbia, Singapore, South Korea, Thailand and China. But, says the European Council, this authorization should include reciprocity. In other words, if a country does not allow EU countries to enter, the EU country should remain closed to residents of that country.

Currently, non-US citizens who have recently visited the EU or UK are not allowed to enter America. This is an important step towards resetting international travel. American travelers made more than 36 million trips to Europe in 2019.

We will be back tomorrow with a new edition of COVID-19 Covering. Are you a subscriber? Sign up here to have it delivered straight to your inbox.



Today’s mortgage, refinancing rate: June 21, 2021




Today’s mortgage and refinance rates are generally low, although fixed rates are significantly lower than adjustable rates. It could be a good day to lock in a historically low rate.

Mortgage rates are not expected to rise significantly until employment and inflation in the United States begin to improve steadily. Marvin Loh, senior global macroeconomic strategist at State Street, told Insider that rates are expected to stay low until late summer or even fall.

So if you’re not yet ready to buy or refinance, you have a little more time to take advantage of the low interest rates.

How mortgage rates work

A mortgage interest rate is the commission a lender charges for borrowing money, expressed as a percentage. For example, you get a mortgage loan of $ 300,000 with an interest rate of 2.5%.

Mortgage rates can be fixed or adjustable. A fixed rate mortgage keeps your rate at the same level for the life of your loan. A variable rate mortgage locks in your rate for the first few years or so, then changes it periodically. With an ARM 7/1, your rate would remain stable for the first seven years, then change every year.

The longer the term of your mortgage, the higher your rate will be. For example, you will pay more with a 30-year mortgage than a 15-year mortgage. However, longer terms come with lower monthly payments as you spread out the repayment process.

Today’s Mortgage and Refinance Rates

Mortgage rates today

Conventional rates from Money.com; RedVentures government guaranteed rates.

Today’s refinance rate

Conventional rates from Money.com; RedVentures government guaranteed rates.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

How to get the best mortgage rate

Here are some steps you can take to get the best possible mortgage rate:

  • Get a fixed rate mortgage. You can ask your particular lender what their fixed rates are versus adjustable rates. But in general, fixed rates start lower than adjustable rates. Rates are also at historic lows, so you would see a low rate instead of risking an increase later with an ARM.
  • Look at your finances. The stronger your financial situation, the lower your mortgage rate should be. Look for ways to improve your credit score or reduce your debt-to-income ratio, if necessary. Saving for a larger down payment also helps.
  • Choose the right lender. Each lender charges different mortgage rates. Choosing the one that is right for your financial situation will help you get a good rate.

How to choose a mortgage lender

First, think about what type of mortgage you want. The best mortgage lender will be different for an FHA mortgage than for a VA mortgage.

A lender should be relatively affordable. You shouldn’t need a very high credit score or down payment to get a loan. You also want it to offer good rates and charge reasonable fees.

Once you’re ready to start shopping for homes, get pre-approved with your top three or four choices. A pre-approval letter indicates that the lender wants to lend you up to a certain amount, at a specific interest rate. When you are pre-approved, your mortgage rate is locked in for 60 to 90 days. With a few pre-approval letters in hand, you can compare each lender’s offer.

When you apply for pre-approval, a lender does a serious credit check. A bunch of serious inquiries on your report can hurt your credit score, unless it’s to buy the best rate.

If you limit your rate purchases to about a month, the credit bureaus will understand that you are looking for a home and should not hold back each individual claim against you.

About the authors

Laura Grace Tarpley is Editor-in-Chief at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.

Ryan Wangman is a review officer at Personal Finance Insider and reports on mortgages, refinancing, bank accounts, bank reviews, and loans. During his past personal finance writing experience, he wrote on credit scores, financial literacy, and homeownership.



Mortgage rates remain low as fed funds rate remains unchanged




Mortgage rates are generally low today. Rates tend to stay low when the US economy is struggling and rise when the economy is booming.

The coronavirus has hurt the US economy and the country is gradually recovering. the

Federal Reserve
met on Wednesday to discuss economic factors that could affect various aspects of Americans’ lives, including mortgage rates.

Current mortgage rates

Conventional rates from Money.com; RedVentures government guaranteed rates.

Current refinancing rates

Conventional rates from Money.com; RedVentures government guaranteed rates.

Mortgage interest rate forecasts

The Federal Reserve decided not to raise the federal funds rate at its meeting on Wednesday. The federal funds rate is the interest rate banks charge each other for borrowing money, and it affects interest rates on everything from savings accounts to car loans to mortgages. When the federal funds rate stays low, consumer rates generally stay low as well.

But the board has increased its inflation projections until 2021. Inflation has skyrocketed in the past two months. The Fed believes the spike is a temporary reaction to the reopening of businesses, but inflation continues to rise faster than the board expected earlier this year.

High inflation is a sign of a strong economy. If inflation continues to rise in 2021, you could see mortgage rates rise as early as the end of the summer.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

About the Author

Laura Grace Tarpley is a writer at Personal Finance Insider, covering mortgages, refinancing, mortgage rates and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.



Today’s 15-year fixed mortgage rates remain below 3%




For months, 15-year fixed rate mortgages had the lowest average rate available, and today is no exception.

The following lower rates are for government guaranteed loans (FHA and VA), followed by 30 year fixed rate loans. ARM loan rates are the highest whether you buy or refinance. Mortgage and refinance rates are still low overall, so this could be a good day to lock in a low rate.

We show the national average mortgage rates. Your exact rate will depend on where you live, so take a look at our state-by-state guide below.

Your mortgage rate will also depend on your finances and the type of mortgage you get. But overall, mortgage rates are at historically low levels.

Current mortgage rates

Money.com conventional rates; RedVentures government guaranteed rates.

Current refinancing rates

Money.com conventional rates; RedVentures government guaranteed rates.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

How are mortgage rates determined?

Mortgage rates are largely determined by the economy. Rates are higher when the US economy is booming and lower when it is struggling.

Employment and inflation are the two main economic factors influencing mortgage rates. When the number of jobs and inflation increase, mortgage rates tend to follow.

However, you have some power over your mortgage rate. Here are the factors you can control:

  • Credit score. The higher your credit rating, the lower your mortgage rate should be. To improve your score, focus on paying all of your bills on time and paying off your debts.
  • Debt-to-income ratio. Your DTI ratio is the amount you pay for your debts each month divided by your gross monthly income. The lower your DTI ratio, the better. The minimum DTI ratio depends on the lender and the type of mortgage you get, but it typically ranges from 36% to 50%. If your ratio is still below the lender’s minimum, you might get a better interest rate.
  • Advance payment. Depending on the type of mortgage you get, you may need 0% to 20% for a down payment. If you can place more than the minimum down payment, you will likely get a lower rate.
  • Type of mortgage. Compliant mortgage rates (which you probably call “regular mortgages”) are already low right now. You will pay less on a mortgage loan guaranteed by the government through the FHA, VA or USDA. You will pay a higher rate on a jumbo mortgage.
  • Duration of the mortgage. The shorter the term of your mortgage, the lower your rate will be. For example, you will pay less on a 15-year term than on a 30-year term. Keep in mind that your monthly payments will be higher in the shorter term, however.

When to lock in a mortgage rate

It’s usually a good idea to lock in your mortgage rate when you’re ready to start shopping for a home.

To lock in your rate, apply for pre-approval from a lender. After you receive your pre-approval letter, your rate is typically blocked for 60-90 days.

It helps to get a pre-approval letter before you bid on a home. Showing the seller a pre-approval letter indicates that you are a competitive buyer who is in good financial health, and it could give your application a leg up on other offers.

About the authors

Laura Grace Tarpley is Editor-in-Chief at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.

Ryan Wangman is an Examination Officer at Personal Finance Insider. During his past personal finance writing experience, he wrote on credit scores, financial literacy, and property.



House sends Juneteenth’s bill to Biden’s office




WASHINGTON (AP) – The United States will soon have a new federal holiday commemorating the end of slavery in the country.

The House voted 415-14 Wednesday to make June 17, or June 19, the 12th federal holiday. The bill is now going to President Joe Biden’s office to be signed.

Juneteenth commemorates the time the last enslaved African Americans learned they were free. Confederate soldiers surrendered in April 1865, but the news did not reach the last enslaved blacks until June 19, when Union soldiers announced freedom in Galveston, Texas. It was also about two and a half years after the Emancipation Proclamation freeing slaves in the Southern States.

It is the first new federal holiday since the establishment of Martin Luther King Jr. Day in 1983.

Don’t miss: Everything you need to know about Juneteenth

“Our federal holidays are purposely few in number and recognize the most important milestones,” said Representative Carolyn Maloney, a Democrat from New York. “I can’t think of a bigger milestone to commemorate than the end of slavery in the United States.”

Sheila Jackson Lee, a House Democrat from Texas, speaking next to a large poster of a black man with massive scars on his back after being whipped, said she would be in Galveston this Saturday to celebrate with Republican Senator John Cornyn, whose height has been reported as 6ft-1.

“Can you imagine?” Jackson Lee said, not particularly tall. “I might be taller than Senator Cornyn, forgive me for that, for it will be such a heightened joy.”

The Senate passed the bill a day earlier under unanimous agreement that expedites the process of reviewing the legislation. It only takes the objection of a senator to block such agreements.

“Please, let’s do like the Senate. Vote unanimously for the passage, ”argued Representative David Scott, a Democrat from Georgia, at one point with his colleagues.

The bill was sponsored by Senator Edward Markey, a Democrat from Massachusetts, and had 60 co-sponsors. Democratic leaders moved quickly to bring the bill to the House.

Some Republican lawmakers opposed this effort. Rep. Matt Rosendale, the only member of the House from Montana, said the creation of the Federal Day was an effort to celebrate “identity politics.”

“Since I believe in treating everyone equally, regardless of race, and we need to focus on what unites us rather than our differences, I will vote no,” he said. he said in a press release.

The vast majority of states recognize Juneteenth as a public holiday or have an official celebration of the day, and most states hold celebrations. Juneteenth is a paid public holiday for employees in the states of Texas, New York, Virginia, and Washington.

Under the law, the federal holiday would be known as National Independence Day on June 15.

Rep. Clay Higgins, a Republican from Louisiana, said he would vote for the bill and support the creation of a federal holiday, but he was upset that the name of the holiday included the word independence instead. that emancipation. “Why would Democrats politicize this by co-opting the name of our sacred Independence Day holiday?” Higgins said.

“I mean to my white colleagues across the way, getting your independence from being enslaved in a country is different from a country getting independence to rule itself,” said Representative Brenda Lawrence, a Michigan Democrat, adding, “We have a responsibility to teach each generation of black and white Americans the pride of a people who have survived, endured and succeeded in this United States of America despite slavery.



These 25 states prematurely end extra unemployment benefits – here’s when




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For millions of unemployed, federal benefits are expected to disappear sooner than expected.

About 4.1 million unemployed people in 25 states could lose aid as states opt out of federal unemployment programs that were extended during the pandemic. These benefits are due to expire on September 6 as part of the US bailout plan adopted in March, but some may no longer have access to them as of June 12.

This means that unemployed people in those states could lose nearly three months of benefits they previously relied on. “On average, we calculate that people will lose $ 6,000 in benefits,” says Andrew Stettner, senior researcher at the Century Foundation.

So far, 25 states plan to withdraw from expanded federal benefit programs early. Governors of states ending additional benefits have raised concerns about the extra money preventing workers from applying for available jobs – a claim many have disputed, saying employers should raise wages instead to attract workers.

Affected programs include the federal supplement of $ 300 per week (PUC), benefits for concert workers who are generally not eligible for Unemployment Insurance (PUA), and assistance for long-term unemployed who already have exceeded the standard number of weeks allocated to state benefits (PEUC).

One in four workers relied on some form of unemployment assistance during the pandemic, according to a report by The Century Foundation, a labor policy think tank. Today, 9.8 million workers remain unemployed, and 4.2 million of them are considered long-term unemployed (unemployed for 27 weeks or more).

Which states will end federal unemployment benefits sooner?

Here are the states that have declared extended unemployment benefits end and expiration dates:

* Arizona and Montana offer additional allowances or return-to-work bonuses with the loss of expanded benefits.

What you can do

Like other benefit collapses in the past year, the reduction in extended benefits leaves many unemployed vulnerable prematurely.

If you are an unemployed worker in a state that plans to end extended federal benefits in the coming weeks, stay in close contact with your local employment office for any updates and to continue receiving the benefits you are receiving. you might still be entitled. These offices can also provide resources for re-entry programs and training opportunities.

Keep in mind that programs that expire on September 6 – if they aren’t canceled sooner by your state – only apply to extended federal benefits put in place during the pandemic. You can still claim your state’s normal unemployment benefits if you lose your job or remain unemployed.

There are also still pandemic safety nets to help with financial hardship. The latest CDC guidelines extend the moratorium on evictions until at least June 30. After that, you will still be able to receive rental assistance depending on your condition. A handful of states still offer utility pardon as well.

If you are in debt, contact your issuers and lenders about forbearance or assistance programs for which you may be eligible. Food aid programs like SNAP and TANF can help supplement your expenses for basic necessities. And if affordable child care is a barrier preventing you from returning to work, you can get help or subsidized care through state and local initiatives.



Asian stocks mixed in calm trading ahead of US Fed decision | national news




By YURI KAGEYAMA Business Writer AP

TOKYO (AP) – Asian stocks were mixed in calm trading on Wednesday ahead of a US Federal Reserve meeting that could give clues as to what lies ahead with its massive support to markets.

Japan released data showing its trade surplus jumped 49.6% in May from a year earlier, but analysts said it was less than expected and highlight how the world’s third-largest economy and its exports may only slowly recover from the pandemic.

Investors are also monitoring data from China on industrial production and retail sales for indications of the health of the regional economy.

Japan’s Nikkei 225 slipped nearly 0.3% early in the session to 29,359.31. South Korea’s Kospi rose 0.4% to 3,272.11. The Australian S & P / ASX 200 gained 0.3% to 7,403.40. The Hong Kong Hang Seng edged down 0.1% to 28,603.84, while the Shanghai Composite was little changed, advancing less than 0.1% to 3,557.48.

“Asian markets are calm ahead of the Fed,” said Robert Carnell, regional head of Asia-Pacific research at ING. “China’s data dump may shake things up a bit today, but the focus will be on the Fed’s message and any clues it might give.”

On Wall Street, the S&P 500 fell 0.2% to 4,246.59 as the Federal Reserve began a two-day meeting on interest rates and other policies. A day earlier, the index hit a record high amid optimism about the economy.



Opinion: It’s time for more human benevolence in the rental market | Chroniclers




As a candidate for the Missoula City Council, Ward 3, I started knocking on doors in early May. It has been a joy and a privilege to speak with hundreds of neighbors and learn about their hopes and concerns for this community.

But it’s the stories I hear from tenants, in particular, that get me thinking. Many of these people have recently received 30-day notices advising them of rent increases or the total loss of the home because the property is going up for sale. And while rent increases aren’t illegal – Montana doesn’t have rent control laws – and real estate owners have the right to sell, I think it’s time for the excess profits to go downhill. second plan. At least for now.

The good news is that I have also found hope in the stories of some local property owners and managers who refuse to put more money in their pockets just because they can. These people have made the moral decision not to raise the rent or to accept offers for more money from those looking to rent. Some have already paid off their mortgages or have structured leases that generate sufficient income while honoring and respecting the dignity of those who have chosen to live under their roof. I hope they read this letter and consider sharing their stories, as we need to hear more.

However, many of the tenants I have encountered on the doors are not so fortunate. They have been renting the same apartment for 10-15 years. They live and work here, pay their bills and have maintained their residence well. Despite their longevity and reliability, they have now been warned by a letter in the mail – not a neighbor’s phone call or a conversation at the front door – that they must pay more or leave altogether. With vacancy rates fluctuating between 1% and 3% and rent increases now totaling some 30% to 50% since 2019, they literally have nowhere to go. It’s demoralizing and lacks compassion.



Programs for first-time homebuyers by state




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A first-time homeowner loan allows a buyer with low or middle income and limited savings to finance the purchase of a home. Typically, these types of loans come with a lower than market rate and sometimes lower mortgage insurance premiums. You can often associate them with down payment and help with closing costs, so they’re ideal if you can’t afford to put a substantial amount of money on a house.

Many first-time home buyer loan programs only require that you have not owned a home for the past three years, not that you are a true first-time home buyer. Often all it takes to qualify is an acceptable credit score and income level (determined by program), completion of a home buyer class and a contribution of part of your own funds to the purchase.

Many mortgage lenders offer loans to first-time home buyers, sometimes through partnerships with a public housing finance agency, or HFA. Here are these first-time home buyer loan programs by state.

First-Time Home Buyers Loan Programs by State

Midwest

Northeast

South

Where is

Source: 2020 Census; Illustration by Bankrate

From 2010 to 2020, the population of the South and West grew the most, according to the results of the 2020 census. Whether you plan to keep up with the influx of residents in the growing states or to buy somewhere in the region, virtually every state has a first-time home buyer program to help you more easily pay down your down payment, closing costs, and your mortgage payments.

How can a first-time home buyers loan help me?

When you buy your first home, you have to make a down payment on the purchase and pay the closing costs on your mortgage. These are expensive expenses, and if you don’t have a lot of savings they can be hard to rack up.

This is where a loan for the purchase of a first home comes in. First-time home loan programs typically come with a 30-year fixed rate mortgage – the loan you will use to pay off the house – and down payment assistance, in the form of grant or a second mortgage for a portion of the purchase price of the home, usually up to a certain amount. Grants don’t have to be repaid, and some second mortgages can be canceled after a certain period of time, while others need to be repaid when you pay off your first mortgage. It all depends on the program.

Help with the down payment is not the only advantage. First-time home purchase loans also come with competitive interest rates. So even if you don’t need help with the down payment, you can still get a more affordable mortgage with one of these programs.

There is also at least one other perk: To qualify for a first-time home purchase loan, many programs require you to complete a homebuyer education course. These courses go over everything you need to know to prepare for homeownership, so they’re especially useful if this is your first time home purchase. Some are free, and there are usually in-person and online options.

How can I find a mortgage lender?

Many mortgage lenders offer first-time home buyer loan programs or work with organizations that do. To find a lender, you can:

  • Search the website for your state’s housing finance agency in the tables above and look for a list of “approved” or “participating” lenders.
  • Look up reviews and testimonials from lenders via The bank rate.
  • Visit the US Department of Housing and Urban Development Status information page, locate your state and search for “Home Buyers Programs” or “Homeownership Assistance”. In addition to state-level programs, this resource can help you find programs by city, county, or city.



Today’s Mortgage and Refinance Rate: June 4, 2021




Mortgage rates have changed since the week and last month – loan rates have remained fairly stable, while refinance rates have mostly increased in recent days (but not by much). Overall, it’s a good day to lock in a low rate.

If you’re ready to buy or refinance, you’ll probably want a fixed rate mortgage rather than an adjustable rate mortgage. ARM rates are starting to be higher than fixed rates right now, and you could risk your rate going up even more in a few years. It’s safest to lock in an all-time low rate while you can.

Mortgage rates today

Today’s refinance rate

What is a mortgage rate?

A mortgage rate is the interest you pay on the money you borrow from a lender to buy or refinance your home. These are basically the fees you pay to borrow, expressed as a percentage. For example, you can take out a mortgage for $ 200,000 plus an interest rate of 2.75%.

There are two types of mortgage rates: fixed rates and adjustable rates.

A fixed rate mortgage lock in your rate for the duration of your mortgage. Even if the rates in the US market go up or down, your rate will stay the same. It’s a good deal right now, as rates are at historically low levels.

A adjustable rate mortgage keeps your rate the same for a predetermined amount of time, then changes it periodically. A 10/1 ARM locks in your rate for the first 10 years, then the rate fluctuates once a year. It’s a riskier approach these days because ARM rates start higher than fixed rates, and you risk your rate going up later.

How are mortgage rates determined?

Mortgage rates are determined by a combination of factors – some you can control and some you cannot.

The main external factor is economy. Interest rates tend to be higher when the US economy is booming and lower when it is struggling. The two main economic factors that affect mortgage rates are employment and inflation. When the number of jobs and inflation increase, mortgage rates tend to rise.

You can control your finances, But. The better your credit score, debt-to-income ratio, and down payment, the lower your rate should be.

Finally, your mortgage rate depends on what type of mortgage you obtain. Government guaranteed mortgages (like FHA, VA, and USDA loans) charge the lowest rates, while jumbo mortgages charge the highest rates. You will also get a lower rate with a shorter mortgage term.

What credit score do you need for a mortgage?

Each type of mortgage loan has a different minimum credit score requirement. Here’s how it typically breaks down:

These are just the general rules of thumb, however. Every lender has the right to demand a higher or lower credit score. (Although the FHA minimums listed here are the lowest a lender allows.)

If your credit score is above the minimum required by a lender, you could get a better mortgage interest rate.

Find out more and get offers from several lenders »

Mortgage rates last week and last month

Mortgage rate trends

Over the past week and last month, mortgage rates have remained in the same general range: between 2.40% (15 years fixed last week) and 4.30% (7/1 ARM last month). While some rates rise and others drop a few basis points here and there, the overall trend has remained fairly stable.

Trends in refinancing rates

The rates on conventional refinancing loans have increased across the board since last week, and have fluctuated slightly since last month. Government loan refinancing rates show a slightly different trend: rates for a 30-year FHA refinance have fallen by more than 10 basis points, while rates for refinancing with a VA loan have remained stable from a single base point.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

About the authors

Laura Grace Tarpley is Editor-in-Chief at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.

Ryan Wangman is an Examination Officer at Personal Finance Insider. During his past personal finance writing experience, he wrote on credit scores, financial literacy, and homeownership.



The 25 states that are removing the $ 300 weekly unemployment benefit




This week, Maryland announced it would end enhanced weekly unemployment benefits of $ 300 effective July 3. This means that exactly half of the states in the United States will soon be phasing out federal unemployment compensation benefits in the event of a pandemic.

“Our health and economic recovery continues to overtake the nation, and we have met President Biden’s goal of vaccinating 70% of adults,” Maryland Governor Larry Hogan wrote in a statement Tuesday. “While these federal programs have provided significant temporary relief, vaccines and jobs are now plentiful. And we have a critical problem where businesses in our state are trying to hire more people, but many are facing severe labor shortages. After 12 straight months of job growth, we look forward to getting more Marylanders back to work. “

Maryland’s economic situation, and the nation as a whole, has recovered remarkably from the depths of the COVID-19 recession. Indeed, Maryland’s unemployment rate hit 6.2% in April, down from its peak of 9% in April 2020. However, the recovery still has some way to go to reach pre-July lows. pandemic: Maryland’s unemployment rate was 3.5% in February 2020.

With Maryland scrapping the benefit, a total of 25 states have announced plans to opt out of the enhanced weekly unemployment benefit of $ 300. The other states are Alabama, Alaska, Arizona, Arkansas, Florida, Georgia, Idaho, Indiana, Iowa, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia and Wyoming.

These 25 states each have Republican governors who argue that the improved federal benefit – which is paid in addition to state benefits – causes unemployed Americans not to return to work. The American Chamber of Commerce agrees. The Biden administration disagrees with this economic assessment. Instead, the White House says school and daycare closures and low wages for many jobs are further contributing to the increasingly tight labor market.

According to Fortune’According to analysis of Century Foundation data, more than 4 million unemployed Americans would lose their weekly federal $ 300 checks once those 25 states stop paying. That’s over 25% of all unemployed Americans who currently receive unemployment insurance.

Most of the 25 states that are withdrawing from the program will do so by July 4. In Texas and Florida, payments will stop the week of June 26. Meanwhile, Maryland and Tennessee will continue payments until July 3. Fortune previously reported, unemployed residents in states who opt out of the $ 300 benefit will still receive regular, state-issued unemployment benefits. Unemployed residents in states that do not opt ​​out of the program will continue to receive enhanced unemployment of $ 300 until the week of September 6.

More policy coverage of Fortune:

This story was originally featured on Fortune.com



Today’s Mortgage and Refinance Rate: June 2, 2021




When you buy through our links, Insider may earn an affiliate commission. Learn more.

Mortgage and refinancing rates have generally been mixed since last week. Many have remained relatively stable or have increased slightly. However, rates remain at historically low levels overall.

If you are considering buying a home or refinancing, you may want to consider a fixed rate mortgage rather than an adjustable rate mortgage. These days, ARM rates start higher than fixed rates, and there is a possibility of rate increases in the future.

In general, rates are still at striking lows. Low rates often mean a struggling economy. As the United States continues to grapple with the economic impact of the COVID-19 pandemic, rates are likely to remain reasonably low.

Mortgage rates for Wednesday, June 2, 2021

Money.com conventional rates; RedVentures government guaranteed rates.

Find out more and get offers from several lenders »

The ARM 7/1 rate is the only mortgage rate above 4%, so this could be a great opportunity to get a low rate.

The rates for conventional mortgages, which you might think of as “standard mortgages,” are currently low. But you can often get an even better rate with a government guaranteed mortgage through the FHA or the VA, depending on how long you are looking for. Government mortgages are good options if you qualify.

Refinancing rate for Wednesday, June 2, 2021

Money.com conventional rates; RedVentures government guaranteed rates.

Compare the offers of refinancing lenders »

You can get a rate of less than 3% on a 15-year fixed mortgage or a government guaranteed mortgage if you want to refinance.

Ways to get the lowest possible rate

Mortgage rates are at an all-time low, so this might be a good day to set a rate, especially if you know you want to buy soon.

But rates will likely stay low for some time. So you don’t necessarily have to rush to take advantage of low rates if you’re not quite ready yet. You have time to improve your financial profile, which could help you get an even better rate.

To get the best possible rate, consider these steps before you apply:

  • Increase your credit score by making payments on time, paying off debt, or letting your credit age. The higher your score, the better.
  • Save more for a down payment. The minimum down payment you’ll need depends on the type of mortgage you’re looking for. But if you can make more than the minimum down payment, you’ll likely be rewarded with a higher rate.
  • Lower your debt-to-income ratio. Your DTI ratio is the amount you pay for your debts each month divided by your gross monthly income. Most lenders want your ratio to be 36% or less. To improve your ratio, pay off your debts or find ways to increase your income.

You can get a low rate right now if your finances are healthy, but you don’t have to rush to get a mortgage or refinance if you’re not ready.

Mortgage rate trends

Mortgage rates have fluctuated since last week, while government guaranteed loan rates have remained the same. Only ARM 10/1 rates changed by more than five basis points.

Trends in refinancing rates

Since last Wednesday, the refinancing rates for fixed and adjustable mortgages have fluctuated. However, government guaranteed mortgage rates only changed by one basis point each.

How do 15-year fixed mortgages work?

If you get a 15-year fixed mortgage, you’ll pay off your mortgage over 15 years and your interest rate will stay the same all the time.

You will pay higher monthly payments with a term of 15 years than a longer term, because you repay the same loan capital in fewer years.

However, a 15-year term will cost you less than a 30-year term. You’ll get a lower interest rate and pay off your mortgage faster.

How Do 30 Year Fixed Rate Mortgages Work?

With a 30-year fixed mortgage, you’ll pay off your mortgage over three decades and your interest rate will stay locked in for the entire period.

It will cost you less per month with a 30-year fixed mortgage than a 15-year term because I spread my payments over several years.

Your total interest payments will be higher with a 30-year term than a shorter term because the 30-year term will carry a higher interest rate for a longer period.

How do ARMs work?

An adjustable rate mortgage, often referred to as an ARM, will secure your rate for a specified period of time, and then it will change regularly. A 10/1 ARM locks in your rate for a decade. Then your rate will fluctuate once a year.

Although ARM rates are low right now, you may prefer a fixed rate mortgage. 30-year fixed rates are equal to or lower than ARM rates, so you have the option of locking in a low rate with a fixed mortgage. As a result, you won’t have to risk an increase in the ARM rate in the future.

If you are considering getting an ARM, ask your lender what your rates would be if you chose a fixed rate mortgage over an adjustable rate mortgage.

How Do Government Guaranteed Mortgages Work?

In addition to conventional mortgage rates, we have provided rates for FHA and VA mortgages, which are two types of government guaranteed home loans.

Government mortgages are guaranteed by federal agencies. They are less risky for lenders because the agency compensates the lender for default. Because they are less risky, lenders charge lower rates on government guaranteed loans than on conventional loans.

These mortgages generally have more flexible requirements when it comes to credit scores, debt-to-income ratios, or down payments.

Government guaranteed mortgages are great options if you qualify. Here are the three types:

  • FHA Mortgage: This type of loan is not limited to a certain type of person, so it is the most common government mortgage. This is especially useful if your credit score is not high enough to get a conventional mortgage.
  • VA Mortgage: You may be eligible if you are an active military or veteran.
  • USDA Mortgage: You may qualify if you live in a rural area and earn low to moderate income.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

About the authors

Laura Grace Tarpley is a writer at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.

Ryan Wangman is a review officer at Personal Finance Insider and reports on mortgages, refinancing, bank accounts, bank reviews, and loans. During his past personal finance writing experience, he wrote on credit scores, financial literacy, and homeownership.



The cheapest auto insurance in Montana for 2021




Driving in Montana is a perfect way to experience the scenic beauty and natural wonders of Big Sky Country. The state is home to more than 800,000 licensed drivers and 73,000 miles of open public roads, ready to be explored. But before you hit the road, make sure you have an auto insurance policy in place to meet legal requirements and protect your finances in the event of an accident.

On average, Montana drivers pay $ 342 per year for minimum coverage and $ 1,737 per year for full coverage. If you are looking for cheap car insurance in Montana, you can find several companies that offer below average premiums. Bankrate research can help you find a policy that meets your coverage needs and budget.

Montana’s cheapest auto insurance

Because auto insurance is mandatory in Montana, you might be looking for the cheapest policy possible. Bankrate’s insurance editorial team used Quadrant Information Services to get up-to-date information on premiums from Montana’s largest insurance companies by market share. We analyzed average premiums to find the cheapest companies, but also took into account coverage offers, available discounts, and third-party ratings.

The following companies might be a good place to start when looking for the cheapest auto insurance in Montana:

Auto insurance company Average annual premium for minimum coverage Average annual premium for full coverage
United States $ 176 $ 931
State farm $ 248 $ 1,121
Farmers $ 350 $ 1,515
Geico $ 366 $ 2,378
Progressive $ 390 $ 1,549

United States

USAA provides auto insurance to eligible military members, veterans, and immediate family members. If you meet the eligibility requirements, you have access to the cheapest minimum and full average premiums according to our research, as well as great customer service. USAA is not eligible for official ranking with JD Power due to its eligibility restrictions, but the carrier received the highest number of points in the Northwest region in the 2020 US Auto Insurance Study .

To complement your coverage, you may want to consider adding accident compensation or roadside assistance coverage. And if budget is your main concern, USAA offers several discounts to help you save. You could get a discount for insuring a new car, parking your vehicle at a military base, storing your vehicle while you’re deployed, or driving low annual miles.

Learn more: USAA Insurance Review

State farm

The largest insurer in the United States, State Farm provides auto insurance through a network of local agents. If you prefer to manage your insurance in person, the company can be a great choice. State Farm sells many lines of insurance, including home and umbrella policies, and also offers banking services.

The company also offers several discounts to lower your insurance costs, including the popular Drive Safe and Save program. You can also save money by insuring multiple cars, purchasing more than one type of insurance from State Farm, preventing accidents, or having safety features on your vehicle. If you’re looking for optional coverages, State Farm offers several, including car rental reimbursement, carpooling coverage, and emergency road service.

Learn More: State Farm Insurance Review

Farmers insurance

If you are looking for a highly customizable auto insurance policy, Farmers might be a good option. From roadside assistance and carpooling coverage to a new car replacement and original equipment manufacturer (OEM) coverage, Farmers has many ways to tailor your policy to your needs. Farmers also offers specialized coverage for classic and vintage cars.

Farmers doesn’t list a lot of discounts on their website, but you can still save money by insuring multiple policies, multiple cars, or avoiding accidents. You can also take advantage of the company’s Signal program, which uses a mobile app to track your driving habits and develop a personalized discount based on the data received.

Learn more: Farmer Insurance Review

Geico

While Geico Montana’s average minimum and full coverage premiums are above the state average, the company may still be a good option if you’re looking for a basic policy with plenty of discount opportunities. Geico also received the highest official ranking from JD Power in the Northwest region, which could also be a good choice if you are looking for great service.

Geico is known to offer a long list of discounts that could lower your premium. You could save money if you are a federal employee, member of the military, or affiliated with certain groups like alumni associations. You can also get a discount if your vehicle has certain safety features, if you insure a good student, or if you purchase multiple policies from Geico.

Find out more: Geico Assurance review

Progressive

Progressive’s average minimum coverage premium is above the Montana average, but the company offers below average full coverage rates. Progressive also gives you the choice of adding a variety of optional coverages to your policy, including loan / lease repayment coverage, custom parts and equipment coverage, ridesharing coverage, and roadside assistance.

In addition to the many coverage options to customize your policy, there are several discounts available that could help you lower your premiums. You can bundle policies to save, get your quote and buy your policy online, sign up for paperless statements, or pay in full. You can also try the Snapshot Safe Driver program for a potential discount tailored to your driving habits.

Learn more: progressive insurance review

Minimum coverage requirements for Montana drivers

Like most states, Montana requires drivers to have at least the minimum levels of insurance required by the state. In Montana, you must have at least the following coverages to legally drive:

  • $ 25,000 civil liability for bodily injury per person
  • Civil liability of $ 50,000 per accident
  • Civil liability for property damage of $ 20,000

These covers are only the minimum requirements. Most insurance professionals advise purchasing higher levels of coverage to provide better financial protection.

Insurers are also required to provide coverage for uninsured / underinsured motorists. These guarantees can be refused in writing:

  • Personal injury coverage of $ 25,000 for uninsured / underinsured motorists per person
  • $ 50,000 coverage for bodily injury of uninsured / underinsured motorists by accident

The minimum coverages required in Montana cover only liability; there is no coverage for damage to your own vehicle. If you purchase Full and Collision Coverage, this is considered “Full Coverage”. If you have a loan or lease, your financial institution likely requires you to purchase comprehensive coverage and may also have requirements regarding your liability limits and deductible levels.

How to get cheap car insurance in Montana

Saving money on car insurance in Montana can be easier than you think, and there are several techniques for stretching your money.

  • Compare multiple quotes: Getting quotes from multiple providers for the same amount of coverage can help you find a company that offers the lowest rate.
  • Take advantage of discounts: Discounts are one of the easiest ways to save on auto insurance. Choosing a company that offers one or more discounts that you can take advantage of could lower your premium.
  • Improve Your Credit Score: Drivers with poor credit tend to pay higher premiums because they are statistically more likely to file claims. Improving your credit score could lower your auto insurance premium.
  • Increase your deductibles: A full coverage policy has two deductibles, one for all perils and one for collisions. Increasing one or both of the deductibles usually lowers your premium. Just be sure to choose a level that you can afford if you are filing a damage claim to your vehicle.

Speaking with an agent or representative of your business can help you identify additional savings opportunities.

Frequently Asked Questions

What is the best auto insurance in Montana?

The best car insurance in Montana is based on personal preference, but several factors must be taken into account in determining the best one. Carriers with good customer service ratings, a solid financial strength score, and competitive rates are often serious competitors. But because everyone has different auto insurance wants, understanding what you’re looking for and comparing multiple quotes is often the best way to find a company that matches your needs.

What is the average cost of auto insurance in the United States?

The average cost of auto insurance in the United States is $ 565 per year for minimum coverage and $ 1,674 per year for full coverage. Montana’s average annual premiums are $ 342 for minimum coverage and $ 1,737 for full coverage. Montana drivers pay less for minimum coverage than the national average, but more for full coverage.

What if I am caught driving without auto insurance in Montana?

Auto insurance is legally required in Montana. Driving without insurance can result in fines, license suspension and potentially jail time. If you cause an accident and don’t have insurance coverage, you will have to pay out of pocket for the damages and injuries you cause, which can lead to financial stress.

Methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record, credit and the following comprehensive coverage limits:

  • $ 100,000 liability for bodily injury per person
  • $ 300,000 in civil liability for bodily injury per accident
  • Civil liability for property damage of $ 50,000 per accident
  • $ 100,000 in bodily injury caused by an uninsured motorist per person
  • $ 300,000 in uninsured bodily injury per accident to a motorist
  • $ 500 collision deductible
  • Global deductible of $ 500

To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and cover 12,000 miles a year.

These are sample rates and should only be used for comparison purposes.



Today’s Mortgage and Refinance Rate: June 1, 2021




If you buy through our links, we may earn money from affiliate partners. Learn more.

Most mortgage and refinancing rates today are mixed: while some have fallen since last Tuesday, others have risen. Either way, the change isn’t too dramatic – just a few basis points both ways. Overall, rates are at their lowest.

If you are looking to get a mortgage or refinance, you may want to consider a fixed rate mortgage. You will get a lower interest rate with a fixed rate mortgage than with a variable rate mortgage. You’ll also secure your rate for the life of your loan without worrying about a possible future rate increase with an ARM.

In general, rates remain at extremely low levels. Low rates are often an indicator of an economy in turmoil. As the United States continues to weather the economic impact of the COVID-19 pandemic, rates will likely remain relatively low.

Mortgage rates of the day: Tuesday, June 1, 2021

Money.com conventional rates; RedVentures government guaranteed rates.

Find out more and get offers from several lenders »

All mortgage rates except the ARM 7/1 rate are below 4%, so it may be a good day to lock in a low rate.

The rates for conventional mortgages, which you can think of as “normal mortgages”, are already low. But you can often get an even better rate with a government guaranteed mortgage through the FHA or the VA, depending on how long you want. Government mortgages are solid options if you qualify.

Today’s refinancing rate: Tuesday, June 1, 2021

Money.com conventional rates; RedVentures government guaranteed rates.

Compare the offers of refinancing lenders »

Currently, you can get a lower rate with a government guaranteed mortgage than a 30 year fixed or adjustable rate mortgage if you want to refinance.

How to get the lowest possible rate

Rates are at historically low levels in general, so it can be a good day to lock in a rate.

However, rates will likely stay low for the next few months, so you have time to improve your finances to get a better rate. Here are some ways to get the lowest possible rate:

  • Increase your credit score by making payments on time, paying off debt or aging your credit. Asking for and reviewing a copy of your credit report can help you find errors that could lower your score.
  • Save more for a down payment. You may be able to deposit as little as 3% if you are looking for a conventional mortgage, but the lower amount will depend on the type of mortgage you want. The higher your down payment, the higher your down payment.
  • Lower your debt-to-income ratio. Your DTI ratio is the amount you pay for your debts each month divided by your gross monthly income. You can improve your rate by lowering your ratio. To improve your ratio, pay off your debts or find ways to increase your income.

You can get a low rate right now if your finances are healthy, but you don’t have to rush to get a mortgage or refinance if you’re not ready.

Mortgage rate trends

About half of mortgage rates have remained stable or have fallen since last week, and even more, have fallen since last month.

Trends in refinancing rates

Fixed and adjustable mortgage refinancing rates have mostly increased since last week. The FHA and VA rates have remained fairly constant since last Tuesday. Quite a few rates went down from this point last month.

15-year fixed mortgages

If you take out a 15-year fixed mortgage, it will take you 15 years to pay off your mortgage and your interest rate will stay the same all the time.

You will make higher monthly payments with a 15-year term than a 30-year term, because you will repay the same loan capital in fewer years.

On the other hand, your total cost will be lower with a 15-year fixed mortgage than with a longer term. You will pay off the mortgage in less time and benefit from a lower interest rate.

30 year fixed rate mortgages

If you get a 30-year fixed mortgage, you’ll pay off your mortgage over 30 years and have a fixed interest rate at all times.

You will pay less per month with a 30-year term than with a shorter term, because you spread your payments over more time.

You will pay more interest with a 30-year fixed mortgage than a 15-year fixed mortgage because you will have a higher interest rate for an extended period.

Arms

An adjustable rate mortgage, often referred to as an ARM, will secure your rate for a specified period. Then your rate will change regularly. A 10/1 ARM sets your rate for a decade, then your rate will fluctuate every year.

However, you may still want to get a fixed rate mortgage even if ARM rates are at their lowest. You can lock in a low rate for 15 or 30 years without risking a rate hike down the line with an ARM.

If you are considering getting an ARM, ask your lender what your rates would be if you chose a fixed rate mortgage over an adjustable rate mortgage.

Government Guaranteed Mortgages

In addition to conventional mortgage rates, we have provided rates for FHA and VA mortgages, which are two types of government guaranteed home loans.

Government mortgages are guaranteed by federal agencies. They are less risky for lenders because the agency compensates the lender for default. Because they are less risky, lenders charge lower rates on government guaranteed loans than on conventional loans.

These mortgages generally have more flexible requirements when it comes to credit scores, debt-to-income ratios, or down payments.

Government guaranteed mortgages are great options if you qualify. Here are the three types:

  • FHA Mortgage: This type of loan is not limited to a certain type of person, so it is the most common government mortgage. This is especially useful if your credit score is not high enough to get a conventional mortgage.
  • VA Mortgage: You may be eligible if you are an active military or veteran.
  • USDA Mortgage: You may qualify if you live in a rural area and earn low to moderate income.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

About the authors

Laura Grace Tarpley is Editor-in-Chief at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.

Ryan Wangman is a review officer at Personal Finance Insider and reports on mortgages, refinancing, bank accounts, bank reviews, and loans. During his past personal finance writing experience, he wrote on credit scores, financial literacy, and homeownership.



Live Updates Stimulus Test Four: Will It Happen In June? Monthly child tax credit, tax refund dates




Securities:

President Biden proposes $ 6 trillion budget to Congress for fiscal year 2022 (what benefits could it offer directly to families?)

– Another 1.8 million “ plus-up ” stimulus checks were sent by the IRS this week, bringing the total number distributed to 167 million

– Announcement of the Cherokee Nation a two-part incentive check for $ 2,000 as part of their Respond Recover and rebuild plan (find out more)

Consumer spending decreases as the stimulus check stimulus wears off

– New budget proposal from Biden does not include a fourth stimulus check (Read more)

Rising global house prices on the backs of recovery strategies

Florida confirm the state end the weekly unemployment increase of $ 300 in June (full story)

Child care and dependents credit 2021… all you need to know

– Payments for Child tax credit 2021 are just around the corner (full story)

– Theirs May 17 tax filing deadline has now passed; however some states have extensions issued (Read more)

– California sends $ 600 / $ 1,200 stimulus checks as part of the Golden State Stimulus program

– You can take your third stimulation test using the IRS Get My Payment online portal

Stay up to date with the latest News about vaccines in the United States and around the world with our live food for the covid-19 vaccine

Take a look at some of our related articles:



Mortgage and real estate news this week




Summer is unofficially starting this weekend, which means you might be looking for a new place to set up your barbecue. As we head into warmer weather, here’s what to know about the mortgage and real estate sectors this week.

1. The housing market is still hot …

There is a home buying frenzy across the country, but some places are more frenetic than others. Bankrate’s quarterly housing heat index shows that Utah, South Dakota, Montana, New Hampshire and Idaho were the top five states for purchases at the start of this year.

Read the story.

2.… and he shows no signs of cooling.

If you’re looking to buy a home, don’t expect it to get much easier anytime soon. Home prices are up 12.6% in 2020 from their 2019 levels, and they continue to rise. The lingering problem of low inventory will not be resolved overnight, so competition will likely remain fierce for some time.

Read the story.

3. The Perfect Time to Refinance Your Mortgage

Experts generally expect mortgage rates to rise this year, but a week of declining interest means now is the time to consider refinancing if you’re still holding out. Rates are unlikely to be much lower than they are now, so start with your paperwork to maximize your savings.

Read the story.

4. What you need to know about the 3% interest threshold

Although rates fell below 3 percent by the end of this week, they were above that benchmark early on. Keep in mind that 3% is still historically low for mortgage interest, but it’s a major psychological threshold for homeowners and buyers, so as rates fluctuate around this mark it’s a good idea to put Get your mortgage finances in order before interest rates come back firmly 3 seconds.

Read the story.

5. Pass the chapel, cross the threshold

Netflix’s new reality show “Marriage or Mortgage” shows how many young couples are choosing to forgo a lavish marriage in favor of a real investment in their future: buying a home.

Read the story.



Summary of the fourth follow-up check: May 30, 2021




Securities:

President Biden proposes $ 6 trillion budget to Congress for fiscal year 2022 (what benefits could it bring directly to families?)

– Another 1.8 million “plus-up” stimulus checks were sent by the IRS this week, bringing the total number distributed to 167 million

– Announcement of the Cherokee Nation a two-part incentive check for $ 2,000 as part of their Respond Recover and rebuild plan (find out more)

Consumer spending decreases as the stimulus check stimulation wears off

– New budget proposal from Biden does not include a fourth stimulus check (Read more)

Rising real estate prices around the world on the backs of recovery strategies

Florida confirm the state end the weekly unemployment increase of $ 300 in June (full story)

2021 child and dependent care credit… all you need to know

– Payments for the Child tax credit 2021 are just around the corner (full story)

– Theirs May 17 tax filing deadline has now passed; however some states have extensions issued (Read more)

– California sends $ 600 / $ 1,200 stimulus checks as part of the Golden State Stimulus program

– You can take your third stimulation test using the IRS Get My Payment online portal

Stay up to date with the latest Vaccine news in the United States and around the world with our live food for the covid-19 vaccine

Take a look at some of our related articles:



Is It Time To Refinance Your Mortgage?




Refinancing your mortgage can lower your monthly mortgage payments, reduce the time you need to pay, or even withdraw money to pay off your credit card debt or student loans through cash refinancing. With rates at historically low levels, around 18 million borrowers could potentially qualify for a new loan, according to real estate data firm Black Knight.

If you are going to invest both time and money in the refinancing process, make sure your mortgage rates are lower than your previous loan and that refinancing makes sense for you and your budget. If you’re already convinced, a good place to start is our list of the best mortgage refinance lenders of 2021.

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Lock in a lower interest rate by refinancing your mortgage.

For borrowers with a strong credit history, refinancing can be a good way to get a lower interest rate. Click on your state for a free quote.

HawaiiAlaskaFloridaCaroline from the southGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMYMassachusettsMaineNHNew HampshireVermontVermontnew YorkNew JerseyNew JerseyOFDelawareMARYLANDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas

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Yes, now is the time to refinance your mortgage

Based on current mortgage rates, now is the time to refinance your home, although the low rate window is closing.

As the coronavirus pandemic has caused the mortgage insurance industry to hit rates below 3%, these are starting to rise again. Average costs for a 30-year fixed rate mortgage were less than 3% in April 2021, but have now risen to 3.35% as of May 21, 2021. Compared to last year’s rates – which were 3.28% in May – you can easily see that they are starting to return to normal.

This increase was predicted by various groups including Fannie Mae and The Mortgage Bankers Association (MBA). The former says that by the end of 2021, rates will rise to 3.4%, while the latter projects an increase to 3.7%. Note that there is still a possibility that rates will drop back below 3% in 2021, but that won’t necessarily be the norm.

With premium stabilization on the horizon, why would be a good time to refinance your mortgage payments? Simple: even with these increases, the average rates are still better than those of previous years. For example, rates during the 2010s averaged around 4% and reached 4.17% in 2014; even 2019 saw an average of 4.4 for 30-year mortgages.

Basically, you can still get above average rates. If you want to know immediately the potential rates of your mortgages, you can use our mortgage calculator.

Reasons for current refinancing rates

The cause of the current price increase is not so mysterious. With very low rates, the best mortgage lenders are inundated with demands. There are many parts to the mortgage pipeline, and if any one is clogged, the whole process can be saved.

“Much of this rate spread is due to capacity constraints,” said Mike Fratantoni, chief economist for the Mortgage Bankers Association. “When lenders see their volume increase, they have to decide: do I hire full-time staff for this, or temporary workers, or go to outsourced providers? And in this environment with a remote workforce, everything takes longer. It’s not just a lender with constraints, it’s the whole system. “

In fact, in the first quarter of 2021, the number of residential refinancings exceeded one million, representing $ 328.5 billion in total volume, according to ATTOM Data Solutions. Almost 56% of the total number of current home loans were issued during the quarter, with high refinancing activity in Chicago, Los Angeles, Dallas, New York and Houston.

However, as businesses start to open and more citizens get vaccinated, the rates are rising again. Because of this, your window for economical refinancing may start to close.

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Refinance Your Mortgage

How to know when to refinance your mortgage

The right call for homeowners refinance depends on your circumstances, including your personal finances, the current loan rate, and how long you plan to stay in the home. Here are some key points you should keep in mind when considering refinancing:

  • Be aware of your budget: If you are using most of your money, including your monthly savings, to pay off your mortgage, you should consider refinancing on better terms. While you don’t need to pay a new down payment, refinancing still has costs associated with it, so be sure to factor those in as well.
  • Check your debt to income ratio (DTI): The lower this number, the more likely lenders are to approve your refinance.
  • Reduce your current credit rate by at least half a point: As a general rule, a differential of half a point or more makes refinancing worth it.
  • Think how long you stay: Analyze if you are going to sell your house soon or when that time will come. You shouldn’t get a 30-year new refinance if you’re moving in a few years.
  • Don’t try to get the lowest price possible: Waiting for rate fluctuations is as difficult as timing the stock market. Don’t wait and see what happens with mortgage rates tomorrow if you can save money or get closer to your financial goals by refinancing today.
  • Find an expert: Find a loan officer or other professional to walk you through the underwriting process. Professional help can improve your chances of getting better loan terms, although you may have to pay extra for their services.

Finally, keep in mind that you may be charged a higher rate than what lenders advertise, depending on your credit score and the equity in your home. Try to go through the mortgage pre-approval process with at least three lenders to find out your true rate and make sure you’re getting the best deal. Freddie Mac found that borrowers save an average of $ 1,500 over the life of the loan by getting one additional quote – and an average of around $ 3,000 if they get five quotes.

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Mortgage refinancing faqs

Are refinancing rates going down?

Due to the ongoing pandemic, the Federal Reserve has kept mortgage interest rates low. This caused refi rates to drop below 3% in 2020 and throughout the first half of 2021. Unfortunately, as the economy begins to rebound, various organizations have predicted that mortgage rates will rise again, averaging around 3.3 to 3.7% by 2021.

Why would refinancing be a bad idea?

Refinancing is a bad idea if the process dramatically increases your overall loan costs – including closing costs – or hinders your ability to pay your loan. If you have additional funds and want to reduce your total loan amount, you can opt for refinancing for a shorter loan term. You’ll avoid higher interest rates, but your new premium rates will increase, making your monthly payments more expensive. If you can’t afford those extra monthly payments, a shorter loan term would be detrimental to you and your budget. When considering refinancing, consider your loan terms, past financial decisions, and current financial situation. When you’re ready, choose the option that’s right for you.

Is it cheaper to refinance with your current lender?

It is possible to reduce monthly payments and get cheaper rates if you are early with your lender and decide to refinance your current loan. If you’ve been a loyal customer, there’s a chance they’ll offer discounts or special rates for refinancing your loan. Unfortunately, availability and discount percentages vary widely from lender to lender, so there is always a chance you will find better rates for getting a new mortgage from another FHA approved company.

How to get the best refinancing rates?

There are three things you can do to get low interest rates on your original mortgage. First, improve your credit score: a good credit report shows that you can make payments diligently, so lenders see you as less risky to insure. Second, you can renegotiate the term of your loan, as this can dramatically change the premium and the overall upfront costs. For example, if you have a 30-year loan and have paid off it for sixteen years, you can refinance the remaining fourteen over a shorter or longer term with better rates. Third, you can buy rates online which vary widely from company to company.

Having quotes from at least three different providers increases the chances of getting a better rate and gives you leverage to negotiate with them. It is important that you find a comfortable rate on your loan, as this can help you reach a breakeven point.



2021 U.S. Bank Mortgage Review




* The minimum credit score and down payment are for compliant mortgages

Overall rating of the lender

Advantages and disadvantages

US bank mortgage rates

The US bank posts mortgage rates for fixed rate, variable rate, FHA, VA, and jumbo home loans on its website. The rates quoted assume that you have a credit score of at least 740 and that you are purchasing a single family home.

Some lenders will customize your mortgage rates online by asking for your zip code, down payment amount, or credit score. However, the US bank does not allow you to customize the rates – you will need to apply for prequalification to get a general idea of ​​what you would pay.

On the bright side, the US Bank’s online rates are comparable to the national average rates on the Federal Reserve’s website. So, you could get a low rate with this lender.

How US Bank Stacks Up To Other Lenders

We compared US Bank to two other major lenders that offer mortgages in all 50 states: Bank of America and Chase.

American Bank Mortgage vs. Bank of America Mortgage

US Bank offers more types of home loans than Bank of America. It’s the obvious choice if you need a construction loan or a home equity loan. You will also like US Bank if you are in need of a VA loan but your credit score is rather low. Bank of America requires a credit score of 620 for VA loans, while the US Bank only requires a rating of 600.

Bank of America offers homebuyer assistance programs that vary by state. Depending on where you live, you may be eligible for a grant or loan for your down payment and closing costs.

American Bank Mortgage vs. Chase Mortgage

You will want to go with US Bank for construction loans or home equity loans. But Chase has a unique mortgage called Chase DreaMaker.

Chase DreaMaker is a program for low-income borrowers that includes up to $ 3,000 in grants for a down payment or closing costs. Chase recently expanded this program to offer $ 5,500 to people who live in eligible neighborhoods and take an educational course. If you qualify for this mortgage, you may prefer Chase.

How US Bank Mortgages Work

US Bank has branches in 26 US states and offers loans in all 50 states. The lender offers the following types of home loans:

If you are refinancing, you can choose between interest rate and term refinancing or cash flow refinancing. You can refinance your FHA loan with US Bank, but to do easy refinancing – which doesn’t require a credit check or home appraisal – your original FHA loan must be with US Bank.

Is the US bank trustworthy?

The Better Business Bureau gives US Bank an A + for reliability. The BBB measures reliability by examining responses to customer complaints, transparency of business practices, and honesty in advertising.

The US bank has a recent controversy, however. In 2020, the lender paid the US government $ 200 million for FHA loan approval for mortgage insurance even though a) borrowers did not qualify for FHA loans, or b) US Bank No. haven’t checked their credit scores.

This lawsuit was not settled until 2020, but dishonest lending practices took place from 2006 to 2011.

Mortgage and refinancing rates by state

Compare the US bank’s rates to your state’s mortgage rates:

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

About the Author

Laura Grace Tarpley is a writer at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.



Glacier Bancorp has gone big and is paying for its latest acquisition. here’s why




Assets of nearly $ 20 billion Bancorp Glacier (NASDAQ: GBCI) Montana-based recently announced plans to acquire the $ 3.5 billion asset Altabancorp (NASDAQ: ALTA), Utah’s largest community bank. The deal is a little different from acquisitions Glacier has made in the past, which tend to be smaller. Glacier also pays a hefty premium to buy Altabancorp. Let’s take a look at what made Glacier pull the trigger and what that means for the merged company going forward.

Numbers

Glacier expects to pay nearly $ 934 million in an all-stock transaction to acquire Altabancorp, valuing each common share at $ 49.03. This values ​​Altabancorp at almost 290% of the tangible book value (equity less goodwill and intangible assets). Even with today’s high bank valuations, that’s a huge premium, but it’s not entirely surprising given that Altabancorp is a very successful bank in a rapidly growing market.

Yet even with the high premium, Glacier, being a strong performer on its own and currently trading at almost 325% of its tangible book value, is able to make the operation work from a financial standpoint. Once the transaction is completed, the acquisition will immediately increase Glacier’s tangible book value, which is solid given the high premium it plays for Altabancorp and the fact that acquisitions often dilute equity. The deal also increases earnings per share (EPS) by 5.2% in 2022, meaning the combined bank’s profits will be 5.2% higher than Glacier’s projected profits in 2022 alone.

Image source: Getty Images.

This figure could also be low given that BPA estimates are based on Glacier eliminating 17.5% of Altabancorp’s spend. This is low enough for a simple acquisition like this. Although there is minimal branch overlap between the two banks, both use the same basic processing system from Jack Henry and therefore software very similar to food services such as over-the-counter transactions, mortgages and other digital banking services. Not only does this make the integration a lot easier, but it could also reduce technology expenses. On a conference call following the announced acquisition, CEO Randall Chester called the projected 17.5% cost savings “conservative.”

Altabancorp comes with a heavy commercial real estate and construction loan portfolio that will increase the overall return on Glacier’s total loan portfolio, while maintaining Glacier’s excellent low cost deposit franchise. Glacier’s loan portfolio also improves Glacier’s credit quality by slightly lowering the ratio of non-performing assets (those at risk of defaulting) to total assets of the combined bank.

Graph explaining the loan and deposit mixes of Glacier Bancorp and Altabancorp.

Image source: Glacier Bancorp investor presentation.

Growth and technology

An important thing to remember is that banks are not bought, they are sold, which means the seller usually approaches the buyer or lets potential buyers know that they want to sell. And while high bank valuations lead to higher selling prices, they may also prompt more banks that have not historically considered a sell to finally raise their hands. Approaching three times the tangible book value, Altabancorp saw an environment conducive to selling and it appears Glacier was looking forward to it. Chester said he had his eye on Altabancorp for almost a decade, so I’m sure when the opportunity arose the actual selling price probably didn’t matter, especially with Glacier trading at such a high valuation.

The main reason Glacier wants Altabancorp is to strengthen its presence in Utah, the fastest growing market in the geographic footprint of the eight Glacier States, and also the second fastest growing state in the States. United between 2010 and 2021. Utah is a bank’s dream, with the fastest rate of housing unit growth in the United States for the past three years. About 14% of Altabancorp’s loan portfolio is made up of construction and land development loans, many of which are likely made to real estate developers who are building homes. This is a high concentration for a community bank as these loans are considered riskier, but Altabancorp has maintained strong credit quality and the construction and land development portfolio has an attractive average yield of 6.25%.

Utah also has the 5th lowest unemployment rate in the country and a good business environment, not to mention the state just invested more than $ 4 billion in Salt Lake City International Airport, making it the first new American hub airport built in the 21st century. Altabancorp management said in its first quarter earnings call that it expects to increase lending in the high percentage range to single digits in 2021, which is great considering most banks are uncertain. as to loan growth this year. Analysts on the call also felt it was a very conservative estimate by the bank.

The other big advantage of Altabancorp is everything it offers Glacier in terms of technology. Being on the same basic processing system is not a must in acquisitions, but it certainly helps. These core processing systems feed into a bank’s daily loan and deposit transactions, among many other functions, so anytime a bank changes or attempts to update its core systems, it can be a huge disruption.

Not only does Altabancorp use heart processing software powered by Jack Henry, but Chester said that much of the software Altabancorp uses is a generation ahead of Glacier (the banks have operated with core processing technology very old) and already integrated on the same basic platform, which makes the integration much easier. For example, Chester said that Altabancorp’s commercial loan creation system is newer and that Altabancorp also uses a state-of-the-art construction loan platform. Ultimately, Chester said he believes Altabancorp’s technology will accelerate Glacier’s technology roadmap and potentially lower the overall cost.

Is Altabancorp worth the price?

Even though Glacier pays a high premium for Altabancorp, the price really isn’t that bad as it doesn’t dilute Glacier’s tangible book value and also increases EPS. Glacier is also knocking out a big competitor in a footprint it wants to expand into. Also, as I mentioned above, it doesn’t seem like Glacier really cares about the price considering how long they wanted Altabancorp to be and why the addition was worth it. in terms of growth and technology. The deal really looks like it can take the high-performing Glacier Bancorp to new levels faster than it could have achieved on its own.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.



Housing heat index: which state real estate markets are leading the real estate boom?




Before the coronavirus recession, the Utah real estate market was on fire. Then came the COVID-19 pandemic, which sent residents of northern California and Seattle in search of affordable housing and more space, and an already very hot market heated up.

Dave Robison, former president of the Utah Association of Realtors, simply summarizes the activity. “This is insane,” says Robison, a real estate broker in Salt Lake City.

Its valuation is not just the art of selling. Home prices in Utah have skyrocketed as Californians flock to the state. Utah has the fastest pace of employment growth in the country, along with lowest unemployment, ultra-low mortgage rates, few mortgage defaults, and low local and state taxes.

All of these factors pushed Utah to the top spot in Bankrate’s 2020 Housing Heat Index, a spot it continues to occupy for the first quarter of 2021. Residential real estate has exploded during the recession. coronaviruses, and Utah has become a particularly popular market.

Other states in the region are also booming. South Dakota, Montana and Idaho rank second, third and fifth, respectively, in the Bankrate Index.

On the opposite end of the list is Hawaii, a state that has been hit hard by the COVID-19 pandemic. Its tourism industry is slowly recovering from a virtual standstill, and the employment situation in Hawaii remains bleak.

The 5 States with the Hottest Housing Economies

The Housing Heat Index shows how state property markets are faring in the coronavirus-fueled housing boom, and how they might fare going forward. To calculate the ranking, Bankrate analyzed six data points: the annual appreciation of house prices reported by the House Price Index of the Federal Housing Finance Agency; share of delinquent mortgages as reported by the Mortgage Bankers Association; unemployment and employment growth in the US Department of Labor; the cost of living index of the Center for Regional Economic Competitiveness; and state-to-state tax burdens, as reported by the Tax Foundation.

These five states had the strongest housing economies in the first quarter of 2021:

  1. Utah. Its home values ​​jumped 19% in the 12-month period that ended March 31, second among U.S. states, according to the Federal Housing Finance Agency. Utah posted the second-strongest job growth in the country from March 2020 to March 2021, according to Bankrate analysis of Department of Labor data. Additionally, Utah had the lowest unemployment rate in the country and its tax burden is among the lowest in the country, according to the Tax Foundation.
  2. South Dakota. Home prices have climbed nearly 15% and South Dakota is tied with Utah for the lowest unemployment rate in the country.
  3. Montana. Home prices have risen 15% in the past year and Montana has the lowest level of delinquent mortgage payments in the country, according to the Mortgage Bankers Association.
  4. New Hampshire. Geographic oddity in our ranking, New Hampshire has seen home values ​​jump 16 percent, and the unemployment rate and tax burden are low.
  5. Idaho. Idaho home prices were the highest in the country, climbing 23.7% in the year ending March 31. And job growth is the strongest in the country. However, Idaho’s overall ranking was tempered by average readings for cost of living and taxes, and a low ranking for mortgage delinquencies.

Buyers are looking for affordability, space

High rankings for mountain time zone states illustrate a shift in the housing market: Americans are still drawn to healthy job markets, but even before the coronavirus pandemic they were increasingly unwilling to pay for a living in places like San Jose, Seattle, and Boston.

COVID-19 has pushed many – especially those who can work remotely – to move from more expensive areas to more affordable areas.

“We are seeing a new migration to affordability,” says Mark Vitner, senior economist at Wells Fargo. “The beneficiaries of this change have largely been the mid-sized subways in the mountainous western states.”

The median price of a single-family home sold in Silicon Valley in the first quarter was $ 1.5 million, according to the National Association of Realtors. The typical price in Salt Lake City was $ 435,400 – above the national median, but not dramatically, and just a fraction of the price paid by residents of Northern California.

The price differential prompted many players in high-cost markets to consider relocating. The concept is particularly appealing to workers who can take up their well-paying jobs in areas with lower cost of living.

“People suddenly have the choice of where they live because they’re not tied to a desk,” says Alicia Holdaway, agent at Summit Sotheby’s International Realty in Draper, Utah, and former chair of the Salt Lake Board of Realtors City. . “We have a net in migration that has been happening for years, and it has only increased.”

Each boom brings its drawbacks, of course. In some cases, newcomers to the Utah real estate market are full of cash and ready to push up the prices.

“There is always a setback,” Holdaway says. “We have seen housing affordability become a crisis.

The 5 States with the Coolest Housing Savings

As a nationwide real estate boom rages, every state has seen property values ​​rise in the 12 months that ended in March. However, some state economies are struggling with weak job growth and other challenges. The last 5 of our index:

  • 47. Illinois. High unemployment and lukewarm price appreciation put Illinois near the bottom of the pack.
  • 48. New-York. Hard hit by the pandemic, New York is facing many headwinds. It ranks near last in terms of job growth, unemployment, tax burden and delinquent loans.
  • 49. Washington, DC. The district ranked near the bottom of home price appreciation. The city also ranked last in cost of living and near last in unemployment and tax burden.
  • 50. Louisiana. It ranks the worst among delinquent loans, with over 9% of homeowners behind on their mortgage payments. Louisiana is also doing poorly on price appreciation, job growth and the tax burden.
  • 51. Hawaii. This tourism dependent state ranks last for job growth and unemployment and near last for price appreciation. “The big picture is of a very weak economy,” says Carl Bonham, executive director of the University of Hawaii’s Economic Research Organization.

Methodology

To calculate the home heat index for the first quarter of 2021, Bankrate analyzed six data points:

  • the annual appreciation of house prices for the first quarter, as reported by the house price index of the Federal Housing Finance Agency;
  • share of mortgages past due for the first quarter, as reported by the Mortgage Bankers Association;
  • US Department of Labor unemployment rate for March;
  • annual employment growth in March of the US Department of Labor;
  • the cost of living index for 2020 of the Center for Regional Economic Competitiveness;
  • state-by-state tax charges for fiscal year 2020-21, as reported by the Tax Foundation.

The index overweight the appreciation in house prices, the measure that most clearly reflects the desirability of a housing market. And the index is underweighting the cost of living and the tax burden – house prices may skyrocket despite these factors, but a new wave of remote work is making these factors more relevant than they once were. the past.

Housing heat index for the first quarter of 2021
state General classification Appreciation ranking Rank of delinquent loans Employment growth rank Unemployed classification Cost of living ranking Tax classification
Utah 1 2 5 2 1 31 8
South Dakota 2 9 2 4 1 24 2
Montana 3 8 1 3 9 29 5
New Hampshire 4 4 11 18 5 43 6
Idaho 5 1 49 1 6 21 20
Tennessee 6 12 20 8 23 5 18
Arizona 7 3 ten 11 36 27 24
Nebraska 8 29 12 5 1 22 28
Washington 9 6 3 31 29 38 16
Indiana ten 17 32 15 12 11 9
North Carolina 11 18 21 9 27 12 ten
Maine 12 7 21 21 21 39 29
Oregon 13 11 4 36 31 40 15
Ohio 14 15 29 25 19 6 39
Kansas 15 25 28 16 7 16 35
Michigan 16 23 15 39 23 4 14
Missouri 17 31 37 17 13 3 12
Georgia 18 21 44 14 18 8 31
Wisconsin 19 38 7 23 9 20 25
Colorado 20 19 14 30 34 36 21
Delaware 21 16 33 22 35 34 13
Arkansas 21 34 35 6 16 2 45
Iowa 23 46 6 19 7 17 40
Kentucky 24 35 25 24 22 7 19
Florida 25 24 41 32 19 25 4
Alabama 26 41 38 7 9 ten 41
Minnesota 27 36 8 34 13 28 46
Rhode Island 28 ten 26 41 40 45 37
Texas 29 30 46 13 39 14 11
Caroline from the south 30 40 31 12 23 18 33
Virginia 31 37 23 27 23 30 26
Oklahoma 32 39 43 20 15 9 30
West Virginia 33 32 36 29 30 13 22
Massachusetts 34 20 18 44 36 47 34
North Dakota 35 48 9 33 16 33 17
California 36 13 13 47 47 50 49
Connecticut 37 5 42 38 47 46 47
New Mexico 38 22 26 45 47 23 23
Wyoming 39 49 16 28 28 32 1
Vermont 40 43 17 46 1 41 43
Mississippi 41 47 50 ten 32 1 32
Maryland 42 27 47 26 32 44 44
Pennsylvania 43 33 34 37 42 26 27
Alaska 44 42 19 43 36 48 3
New Jersey 45 14 48 42 44 42 50
Nevada 46 28 40 50 46 35 7
Illinois 47 44 39 35 41 19 36
new York 48 26 45 49 50 37 48
District of Colombia 49 45 30 48 45 51 46
Louisiana 50 50 51 40 43 15 42
Hawaii 51 51 24 51 51 49 38

Learn more:



Mortgage rates will likely stay low until the end of summer




  • Mortgage rates have not changed drastically since last week or last month.
  • Employment and inflation must gradually improve for mortgage rates to rise.
  • According to Marvin Loh, senior global macroeconomic strategist at State Street, rates could start to rise in late summer or fall.
  • See Insider’s Picks for Top Mortgage Lenders »

Some mortgage and refinance rates have gone up since last week, but others have gone down. The trend is similar from the same time last month – rates are fluctuating, but there is no significant upward or downward change.

Mortgage rates can change a bit from week to week or month to month. But Marvin Loh, senior global macroeconomic strategist at State Street, told Insider that rates are expected to stay relatively low until late summer or even fall.

Jobs and inflation must improve for mortgage rates to rise

Mortgage rates tend to be low when an economy is struggling and high when it is booming.

Employment and inflation are two factors that seriously affect mortgage rates. When the number of jobs and inflation increase, so do mortgage rates.

According to the consumer price index for the month of April 2021, inflation has been on the rise since March and since the same period last year. But the United States needs to experience longer and more steady inflation hikes before mortgage rates respond by rising.

The employment figures have improved considerably since the same period last year. Unemployment was 6.1% in April 2021, up from 14.8% in April 2020, just after the coronavirus pandemic hit the United States.

But before the U.S. economy shut down in response to COVID-19, unemployment was 3.5%. Loh explained that the country needs to make more progress before mortgage rates rise.

To take advantage of low rates before they rise, you may want to buy a home or refinance this summer, if possible. Rates could start to climb by the end of the summer.

This week’s mortgage rates

Since last Tuesday, fixed 15-year mortgage rates have held up. Rates on 30-year fixed and VA mortgages have increased, while rates on ARM 7/1, ARM 10/1 and FHA mortgages have declined.

This week’s refinancing rates

Most refinancing rates have declined or remained the same since last week. (VA mortgage rates have risen, however.) Rates have also fluctuated slightly from the same period last month.

Mortgage and refinancing rates by state

Check out the latest rates for your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
new York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming

About the Author

Laura Grace Tarpley is a writer at Personal Finance Insider, covering mortgages, refinancing and loans. She is also a Certified Personal Finance Educator (CEPF). During her five years of personal finance coverage, she has written extensively on how to navigate loans.



Glacier buys Altabank – Bank exchange




Glacier Bancorp to acquire Utah-based community bank Altabancorp, Altabank’s banking holding company.

The agreement adds Altabank’s 25 branch network across Utah and southern Idaho to Glacier’s growing business. It also brings in $ 3.5 billion in total assets, $ 1.8 billion in loans and $ 3.2 billion in deposits.

Glacier, based in Montana, has been particularly active in acquisitions in recent years. The Altabank transaction marks the group’s second acquisition of a Utah-based bank in the past two years, following the acquisition of First Community Bank in 2019.

Glacier has made 24 acquisitions since 2000 and seven in the past five years.

Randy Chesler, President and CEO of Glacier, said: “This is a tremendous opportunity to solidify Glacier’s presence in the growing Utah market by partnering with the state’s largest community bank. We have focused heavily on strengthening our presence in Utah and this opportunity ticks all the boxes. “

Len Williams, President and CEO of Altabank, added: “In our constant quest to be bigger, better and stronger, the opportunity to join the Glacier family of banks was undeniably great for us. Being part of the Glacier family gives us the chance to compete with anyone, anywhere in our market, while maintaining our local autonomy.

Elsewhere, Amerant Mortgage – a joint venture between Amerant Bank and a team of professionals in the residential mortgage industry – will buy the First Mortgage Company, based in Idaho.

The deal was “An integral part” of the company’s business plan, according to Howard Levine, executive vice president and chief revenue officer of Amerant Mortgage. He “Uniquely positions the company with direct access to major federal housing agencies”, he said.

The acquisition, which will see First Mortgage rebranded as Amerant Mortgage, responds to growing demand for residential mortgages amid the booming residential real estate market. This is Amerant’s first expansion outside of Florida.

Meanwhile, Sterling Bancorp invested in New York-based financial technology company Finitive.

Finitive operates a private credit investment platform that gives institutional investors direct access to unlisted debt and credit transactions.

Bea Ordonez, CFO of Sterling Bancorp, said: “Technology and data can remove friction in the private credit market and the credit market in general, providing originators with the capital they need to grow their businesses.”

Jon Barlow, CEO of Finitive, said the company will use the investment to provide “Digitized sourcing, screening and due diligence for investors and easier access to debt financing for borrowers”.




Here’s where millennials buy homes




As millennials move into their twenties, they’re looking to settle down.

If you want to know who to thank for the scorching housing market, look no further than your nearest millennial. This group, aged 25 to 40, accounted for 37% of all home sales in 2020.

Do you want to know where they are going? Here, we take a look at the top five cities where millennials are settling, according to data from ICE Mortgage Technology.

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1. Williston, North Dakota

If you are a fan of the Coen brothers Fargo, you get an idea of ​​how much ice there can be in North Dakota. Despite this, millennials have flocked to this town near Montana and the Canadian border for several years. In addition to average salaries of around $ 80,000, Williston offers outdoor activities for millennials, plenty of opportunities for social interaction, a diverse choice of dining establishments, and reasonable housing prices. According to Realtor.com, the median price of a home in Williston is $ 290,000. While it’s impossible to know what long-time residents think about the influx of new blood, home values ​​in the city have risen 324% in the past 20 years.

2. Eagle Pass, Texas

Eagle Pass, Texas, the first American settlement on the Rio Grande, is another place that attracts millennial home buyers. Its recent popularity may be due to the median home price, which is a reasonable $ 168,300. Or maybe it’s because property values ​​have increased 74% over the past two decades. While well-paying jobs don’t seem to be the allure for most millennials moving to Eagle Pass, the cost of living is low enough to allow you to live a middle-class life, whether you work from home or in an office. local. business.

3. Hobbs, New Mexico

Millennials are probably going to love all that Hobbs, New Mexico has to offer. Along with a low cost of living, Hobbs boasts an average commute time of 18 minutes, a low student-teacher ratio, job opportunities, and a low crime rate. Plus, the median price of a home in Hobbs is $ 195,000, which means young couples starting families can afford to put down roots. Since homes in Hobbs have appreciated 168% since 2000, it is also possible for a young family to build up home equity with little effort.

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4. Midland, Texas

Midland, Texas is another hotspot for millennial homebuyers, which has been built primarily on the success of the oil industry. There seem to be several pulls for millennials here, including well-paying jobs, community involvement, unique shops and restaurants, and plenty of cultural activities. Although public schools do not rank highly in Midland, Niche.com ranks several of their private schools relatively high. The median price of a home in this West Texas city is $ 287,000, and residents have enjoyed seeing their homes appreciate by about 240% over the past 20 years.

5. Big Spring, Texas

The third of five Texas cities on this list is Big Spring. Long known as the “Crossroads of West Texas,” Big Spring is nestled between Lubbock to the north, San Angelo to the south, Midland to the west and Abilene to the east. The region has been hit hard by declining oil revenues and suffered from a period of high unemployment. But with the influx of millennials, Big Spring is experiencing a kind of rebirth. Millennials seem to be drawn to Big Spring for its low house prices (median price of $ 164,000), friendly people, small town charm, and slower pace of life. Considering how quickly locals can get to any of the surrounding towns, it’s ideal for families looking for a balance. Also, despite the ups and downs of the oil industry, property values ​​have increased 152% in 20 years. This helps make Big Spring a great place to build home equity.

There are a lot of benefits to millennials putting down roots in one of these cities. When young homebuyers move into an area and take out new mortgages, good things happen. The tax base widens, parks and schools are built, businesses and restaurants are revitalized and cities come to life. Whatever the reason they are moving to a particular region, millennials are good for business.



Glacier to acquire Altabank – Banking Exchange




Glacier Bancorp to acquire Utah-based community bank Altabancorp, Altabank’s banking holding company.

The agreement adds Altabank’s 25 branch network across Utah and southern Idaho to Glacier’s growing business. It also brings in $ 3.5 billion in total assets, $ 1.8 billion in loans and $ 3.2 billion in deposits.

Glacier, based in Montana, has been particularly active in acquisitions in recent years. The Altabank transaction marks the group’s second acquisition of a Utah-based bank in the past two years, following the purchase of First Community Bank in 2019.

Glacier has made 24 acquisitions since 2000 and seven in the past five years.

Randy Chesler, President and CEO of Glacier, said: “This is an exceptional opportunity to consolidate Glacier’s presence in the growing Utah market by partnering with the state’s largest community bank. We have focused on strengthening our presence in Utah and this opportunity ticks all the boxes. “

Len Williams, President and CEO of Altabank, added: “In our constant quest to be bigger, better and stronger, the opportunity to join the Glacier family of banks has been undeniably great for us. Being part of the Glacier family gives us the chance to compete with anyone, anywhere in our market, while maintaining our local autonomy.

Elsewhere, Amerant Mortgage – a joint venture between Amerant Bank and a team of professionals in the residential mortgage industry – to acquire Idaho-based First Mortgage Company.

The deal was “An integral part” of the company’s business plan, according to Howard Levine, executive vice president and chief revenue officer of Amerant Mortgage. He “Uniquely positions the company with direct access to major federal housing agencies”, he said.

The acquisition, which will see First Mortgage rebranded as Amerant Mortgage, is in response to growing demand for residential mortgages amid the booming residential real estate market. This is Amerant’s first expansion outside of Florida.

Meanwhile, Sterling Bancorp made a capital investment in New York-based financial technology company Finitive.

Finitive operates a private credit investment platform that gives institutional investors direct access to unlisted debt and credit transactions.

Bea Ordonez, CFO of Sterling Bancorp, said: “Technology and data can remove friction in the private credit market and the loan market in general, providing originators with the capital they need to grow their businesses. “

Jon Barlow, CEO of Finitive, said the company will use the investment to provide “Digitized transaction research, screening and due diligence for investors and easier access to debt financing for borrowers”.




Mortgage delinquencies fall by a further 7% in April; At the current rate of improvement, defaults will return to pre-pandemic levels by the end of the year




JACKSONVILLE, Florida, May 20, 2021 / PRNewswire / – Black Knight, Inc. (NYSE: BKI) reports the following “first look” at April 2021 month-end mortgage return statistics derived from its loan database representing the majority of the national mortgage market.

Total loan default rate in the United States (loans past due 30 days or more, but not in foreclosure): 4.66% Month-to-month change: -7.11%
Year-to-year variation: -27.68%

Total US Foreclosure Presale Inventory Rate: 0.29%
Month-to-month change: -6.29%
Year-on-year variation: -28.67%

Total foreclosure starts in the United States: 3,700
Month-to-month variation: -26.00%
Year-to-year variation: -50.00%

Monthly Prepayment Rate (SMM): 2.58%
Month-to-month change: -22.79%
Year-to-year variation: 10.77%

90+% foreclosure sales: 0.14%
Month-to-month change: -9.82%
Year-to-year change: 26.99%

Number of properties that are 30 days or more past due, but not foreclosed: 2,500,000
Month-to-month change: -172,000
Year-to-year change: -900,000

Number of properties 90 days or more past due but not foreclosed: 1,768,000
Month-to-month change: -151,000
Year-to-year change: 1,306,000

Number of properties in the foreclosure presale inventory: 153,000
Month-to-month change: -9,000
Year-to-year change: -58,000

Number of properties overdue for 30 days or more or in foreclosure: 2,653,000
Month-to-month change: -181,000
Year-to-year change: -959,000

Top 5 States by percentage of non-current *
Mississippi: 8.24%
Louisiana: 7.86%
Hawaii: 7.29%
Oklahoma: 6.55%
Maryland: 6.52%

The last 5 states by percentage of non-current *
Montana: 3.16%
Washington: 3.03%
Utah: 2.99%
Colorado: 2.97%
Idaho: 2.47%

Top 5 States by Percentage of Offenders Over 90 Days
Mississippi: 5.35%
Louisiana: 5.15%
Nevada: 4.80%
Hawaii: 4.76%
Maryland: 4.56%

Top 5 States by 6-month improvement in the percentage of non-current *
Utah: -33.20%
Maine: -30.92%
Rhode Island: -30.79%
South Dakota: -30.47%
Colorado: -30.03%