Navy Federal Credit Union offers competitive auto loan rates, flexible loan terms, pre-approval options, and a car-buying service to its members. Whether you are in the market for a new or used car, Navy Federal Credit Union has a financing option that can help you achieve your goals. As with any financial decision, it is…
The Economic Climate: A Recap of Recent Events
The current economic climate is characterized by uncertainty and inconclusive data. The Federal Reserve is trying to control inflation, but it remains at an intolerably high level, and the stock and bond markets are fluctuating. Although the labor market is tight, growth is slowing, and the housing market is weakening. Over the last week, the…
What is a private mortgage in Canada?
Private mortgage in Canada is a viable option for borrowers who cannot secure traditional financing. However, they come with higher interest rates and fees, making them a more expensive option. Private mortgages in Canada are a type of alternative financing offered by private lenders who are not regulated by the government and do not follow…
Mortgage Rates in America: The Current Scenario
Mortgage rates, as of March 2023, in America have soared back above 7%, which has significant implications for prospective home buyers. At this rate, buying a median home in the US would require a down payment of $93,540 and a monthly mortgage payment of $2,514 on a $467,700 property. The current scenario of mortgage rates…
U.S. Residential Construction Market, in JANUARY 2023
U.S. Residential Construction Market, despite economic uncertainties is robust. The January 2023 statistics for new residential construction in the US indicate a mixed picture. While building permits for privately-owned housing units increased slightly from December 2022, they were still 27.3% lower than the rate for January 2022. Similarly, housing starts in January 2023 were down…
U.S. Rental Market Trends in February 2023
The U.S. rental market is showing signs of cooling off, with a decline in the growth rate of apartment rents and an increase in rental discounts in select metro areas. This trend could help make housing more affordable for renters and ease the rise in overall inflation. However, the rental market is not operating in…
Interest Rate Hikes: What You Need to Know
Interest rate hike over the past 12 months, has taken interest rates to 4.5 percentage points, marking the most rapid adjustment in interest rates since the 1980s. It is widely anticipated that the FED will enact another quarter-percentage-point increase to the interest rates in March. The Fed officials have projected that the unemployment rate would…
FOMC Meeting Highlights Need for Interest Rate Hikes
The Federal Reserve’s latest meeting of the Federal Open Market Committee (FOMC) was held on February 23rd, 2023. The main topic of discussion was whether or not to raise interest rates by 25 basis points, with almost all participants agreeing that it would be appropriate to do so. While participants noted that inflation had eased…
Gains in the Stock Market as CPI Data Expectations Point to Lower Inflation
The stock market saw broad-based gains this week as it continued to recoup losses from the previous weeks. The S&P 500 index saw gains across various sectors, with energy being the biggest gainer in Monday’s trading. Traders were optimistic about the latest read on inflation, as the consumer-price index data released on Tuesday showed a…
Super Bowl Effect on Phoenix’s Short-Term Rentals
In the lead up to Super Bowl LVII, thousands of homeowners in the Phoenix metropolitan area listed their properties on short-term rental websites, hoping to take advantage of the event’s potential payoff. As the big day approaches, these homeowners remain optimistic about securing last-minute bookings. The Super Bowl, which will feature the Kansas City Chiefs…