This morning’s most notable scheduled event and biggest potential market mover was the release of May’s PCE price index, the Fed’s favorite inflation metric. Indeed the biggest volume spike and most directional movement of the day followed that data faithfully, helping yields move to the lowest levels of the past 3 days. But things changed a short while later with a reasonably big sell-off to the highest yields of the week, all without any overt justification in terms of data or new news. Combine it with the fact that Treasury performance is vastly different across the yield curve and this is a classic symptom of month/quarter-end trading.
To visualize the yield curve movement mentioned above, consider a chart of10yr and 2yr yields with equal y axes. Note the 10yr spiking much quicker than 2s during this morning’s sell-off.
Some smart people are considering the possibility that bonds are reacting to the presidential debate and that the improved odds of a Trump victory somehow precipitated this selling. In our view, that’s hard to justify considering the random mid-morning timing despite an absence of similar trading earlier in the day. It’s not as if traders changed their minds about the debate implications during this time. On the other hand, it lines up quite well with past examples of month/quarter end trading on Fridays.
What does this mean for the future? Nothing. It’s just an explanation of this morning’s otherwise perplexing volatility.
Mortgage rates continue to fall from their recent 7% highs, lowering borrowing costs for hopeful house hunters who may eagerly be looking for any type of price break. This week marked the third consecutive week for mortgage rate cuts, following signs of cooling inflation, Freddie Mac reports.
“These lower mortgage rates, coupled with the gradually improving housing supply, bodes well for the housing market,” says Sam Khater, Freddie Mac’s chief economist. “Aspiring homeowners should remember it’s important to shop around for the best mortgage rate as they can vary widely between lenders.”
At this week’s 6.87% rate average and assuming a 20% down payment, a monthly mortgage payment on a median-priced $400,000 home would be about $2,101, says Jessica Lautz, deputy chief economist at the National Association of REALTORS®.
Could mortgage rates drop even further? Inflation numbers have “eased somewhat, but the Fed still has a long to go before cutting interest rates,” Lautz says. “However, the Fed has left the door open for one rate cut in 2024, which could assist housing affordability.” The Fed’s short-term benchmark rate does not have a direct impact on mortgage rates, but does often influence them.
Still, it may pose a dilemma for buyers waiting for lower rates. After all, today’s home buyers face limited housing inventories, although that has improved compared to last year. “If rates come down, more buyers will inevitably join the homebuying market, which could result in bidding wars,” Lautz says. “Timing a market based only on interest rates may not yield fruitful results.”
Freddie Mac reports the following national averages for mortgage rates for the week ending June 20:
30-year fixed-rate mortgages: averaged 6.87%, dropping from last week’s 6.95% average. Last year at this time, 30-year rates averaged 6.67%.
15-year fixed-rate mortgages: average 6.13%, falling from last week’s 6.17% average. A year ago, 15-year rates averaged 6.03%.
San Jose-based EquiFi Corp., a provider of shared equity financing products, announced Thursday that it hired Paul Giangrande as a corporate executive vice president and president of its mortgage division.
Giangrande previously served as president of AmeriCash Mortgage and has more than 30 years of experience in the financial services and mortgage arenas. At AmeriCash, he oversaw more than 300 employees and helped the company close more than $18 billion in home loans.
Paul Giangrande
“Paul brings a distinguished reputation in the mortgage industry with an uncanny sense of distribution. We are honored to have him lead our expanding mortgage financing efforts,” David Shapiro, EquiFi’s CEO and founder, said in a statement. “His impressive industry acumen and established mortgage credentials add significant strength and valuable perspective to our management team.”
In his new role, Giangrande will initially work toward scaling the company’s state licensing efforts to grow future market opportunities. According to its website, EquiFi is currently available in California only but is set to expand to more than a dozen other states.
Giangrande will also lead negotiation efforts for wholesale brokerage agreements with mortgage companies that seek to partner on EquiFi’s home equity investment (HEI) contract and other products. And he will oversee development and implementation of the firm’s marketing strategy and distribution processes.
“EquiFi is a company unlike any other in our business, offering homebuyers and homeowners the ability to utilize equity financing in a home to help achieve their financial objectives,” Giangrande said in a statement. “Every consumer deserves to work with a trusted advisor when financing their homes, and I am excited to join EquiFi to help change this industry for the better.”
Shared equity agreements, also known as home equity investments, are growing in prominence in the home lending space, although they remain small in comparison to traditional mortgage volumes.
Companies such as Aspire, Hometap, Point, Rook Capital, Splitero, Unison and Unlock offer alternatives to home equity loans, home equity lines of credit (HELOCs) and cash-out refinances by allowing homeowners to access equity without taking on installment-based debt repayments. Homeowners typically repay the funds provided by selling their property, with the HEI provider recouping their initial investment plus a portion of the sales price.
The products have gained traction due to interest from secondary market investors, who have purchased billions in securities over the past few years. According to data from DBRS Morningstar, at least nine securitizations involving HEI-type agreements totaling $1.89 billion have been issued since August 2021.
To prevent carbon monoxide poisoning and keep your family safe, you can install carbon monoxide alarms outside each bedroom and on every level of your home, ensuring they are unobstructed by furniture or curtains
.
Malfunctioning or incorrectly used fuel-burning appliances can release carbon monoxide, as can idling cars. Every year, hundreds of people die accidentally from carbon monoxide poisoning, according to the Environmental Protection Agency
.
🤓Nerdy Tip
Many home security systems come with carbon monoxide monitoring features. Check out our Home Security roundup to learn more about these devices and services.
What is carbon monoxide?
Carbon monoxide (CO) is a colorless and odorless gas produced by burning fuel in cars, small engines, appliances and heating systems.
Exposure to carbon monoxide can make you feel very ill; high levels can kill. According to the Centers for Disease Control and Prevention (CDC), symptoms of carbon monoxide poisoning often mimic the flu, causing headaches, dizziness, weakness, nausea, vomiting, chest pain, and confusion
. People often ignore the early symptoms of CO poisoning, which can lead to continued exposure, loss of consciousness and accidental death.
What causes carbon monoxide to build up in a house?
According to the American Lung Association, faulty or improperly vented appliances are the most common causes of carbon monoxide buildup in homes — especially following a power outage or emergency. These include:
Fuel-burning appliances such as your furnace, range, oven, water heater or clothes dryer.
Gas or wood fireplaces and wood stoves.
Coal or oil furnaces.
Space heaters, including oil and kerosene heaters.
Charcoal grills and camp stoves.
Gas-powered equipment like lawn mowers and power tools.
Car exhaust fumes, particularly if your home has an attached garage
.
Tobacco smoke is also a source of carbon monoxide buildup in the home, especially without proper ventilation
.
7 ways to prevent carbon monoxide poisoning
Here are some of the easiest ways to keep carbon monoxide from building up in your home.
Install battery-operated or battery-backup carbon monoxide detectors. Consider purchasing detectors that sound an alarm and have a digital readout that displays peak CO levels. To ensure proper function, regularly check the batteries and replace your CO detector every five years or follow the manufacturer’s recommended replacement date.
Have your fireplaces and fuel-burning appliances professionally serviced and inspected annually. Do this ahead of the heating season. Ensure flues and chimneys are connected, undamaged and free of blockages
.
Buy vented fuel-burning appliances. Look for appliances or tools with the seal of a national testing agency. Ensure they are professionally and properly installed, and follow the manufacturer instructions and maintenance recommendations. Be careful using an unvented gas or kerosene space heater; make sure you use the recommended fuel type, keep interior doors open and crack a window for ventilation.
Avoid using ovens or clothes dryers for heat. This applies even if it’s just for a short time
.
Operate generators outdoors only. Make sure they’re at least 20 feet from your home and any doors, windows or other openings. Never use a generator indoors, even with ventilation. Use a battery-powered or battery backup CO detector inside your home if you’re using a generator.
Never use a charcoal grill or portable gas camp stove indoors. Burning any kind of charcoal gives off CO. Avoid using portable flameless chemical heaters (MRE heaters) indoors as well.
Keep your vehicle properly maintained. Schedule annual exhaust system inspections for your car or truck to detect potential leaks. Never run a vehicle inside an attached garage, even if the garage is open. For detached garages, open the door and windows if the car is running inside. If your running vehicle has a tailgate that’s open, also open the vents or windows to get air moving through. This can help prevent CO buildup
.
Frequently asked questions
How long do carbon monoxide alarms last?
Carbon monoxide alarms typically last between five and seven years, but this can vary by manufacturer. Check the manufacturer’s instructions for the recommended replacement date. The CDC recommends replacing your CO detectors every five years.
What do I do if my carbon monoxide alarm goes off?
Evacuate everyone outdoors immediately. Call 9-1-1 and remain outside until emergency responders say it’s safe to return inside. If you think you were exposed to the CO for a long time or you have symptoms of carbon monoxide poisoning, go to the emergency room
.
How do I know if I have carbon monoxide poisoning?
Common symptoms are headaches, dizziness, weakness, nausea, vomiting, chest pain, or confusion. If you’ve been exposed, go to the emergency room immediately. You can confirm exposure or carbon monoxide poisoning with a blood test
Empower, formerly Personal Capital, is a client-centric robo-advisor offering investment and wealth management services. The company distinguishes itself from the competition by combining automation with personal service. With over 2.7 million users, Empower currently holds $16 billion in assets under management.
Unlike many financial apps designed to make investing more accessible, Empower is a robo-advisor for those who already have some established wealth. They’ve gone back and forth on the minimum investment required, which is now set at $100,000.
Get started with Empower
on Empower’s secure website
Its goal is to provide a more transparent and affordable investment platform. However, its wealth management service does target clients with larger assets, with higher fees being assessed with the fewer assets you let the company manage.
In this Empower review, we’ll get into the specifics shortly, but the upside to potentially paying higher fees is the access you get to financial advisors to help with your investment strategy.
The company utilizes five principles for investing:
the modern portfolio theory
personalized asset allocation
tax optimization
equal sector and style weighting
disciplined rebalancing
No matter how much in assets you’re looking to invest, consider Empower if you prefer a hands-on experience or if you have a large portfolio to open or transfer. Either way, we’ll take you step-by-step through the different types of accounts you can have with Empower, as well as the fees you’ll pay at different asset levels.
You’ll also learn about the special features that make Empower unique, including financial tools and expertise. If you’re looking for an online advisor for any or all of your wealth management, see if Empower is right for you.
Available Plans at Empower
There are three different plans available at Empower, which are divided up based on the amount of investable assets you have. If you know how much you’d like to invest, find the correct category to learn about the benefits and services you’d receive from Empower. Then keep reading to learn more about the fee structure.
Investment Service Plan
The first plan is targeted for those with up to $200,000 in assets to be invested. Services include access to a financial advisory team, a tax-efficient ETF portfolio, dynamic tactical weighting, 401k advice, and cash flow & spending insights.
You’ll also get to use Empower’s free wealth management tools. You do, however, need a minimum of $100,000 to get started investing with Empower.
Wealth Management Plan
The next option is the Wealth Management plan, for those with investable assets between $200,000 and $1 million. You get access to all the benefits from the Investment Service plan, plus several others.
The Wealth Management service includes two dedicated financial advisors, customizable stocks and ETFs, a full financial and retirement plan, college savings and 529 planning, tax-loss harvesting and tax location, and financial decisions support.
The financial decisions support refers to help with insurance, home financing, stock options, and compensation. Also, note while your financial advisors can help you plan for investment accounts like a 401k for retirement or a 529 for college savings, Empower doesn’t actually offer these accounts.
Private Client Plan
If you invest more than $1 million, you qualify for the Private Client Plan. Again, you receive all the perks of the previous two plans, in addition to several more.
To begin, you’ll get priority access to CFP, financial advisors, investment committee, and support, plus an investment portfolio mix of ETFs, individual stocks, and individual bonds (in certain situations).
You also receive family tiered billing; private banking services; estate, tax, and legacy portfolio construction; and donor-advised funds. Empower also offers private clients a private equity and hedge fund review, deferred compensation strategy, as well as estate attorney and CPA collaboration.
Get started with Empower
on Empower’s secure website
Fee Structure and Accounts
The more money you invest through Empower, the more money you’ll save in fees. If you invest up to $1 million, your fee comes to 0.89% of the assets being managed. If you invest more than $1 million, your first $3 million in assets are only charged a 0.79% fee. Then, your next $2 million is charged 0.69%.
The $5 million after that are charged 0.59% and the next $10 million are charged 0.49%. However, there aren’t any charged beyond the account management fees, so you don’t have to worry about annual, transfer, or closing fees.
So what types of investment accounts are supported through Empower? There are many: both individual and joint non-retirement counts; Roth, traditional, SEP, and rollover IRAs; and trusts.
Through your Empower investments, you can expect a healthy range in your portfolio. For example, when buying U.S. equities, they buy a diversified sample of at least 70 individual stocks that epitomize their tactical weighting approach and optimize your account for tax purposes.
Empower also only purchases liquid securities, so that if you ever need to access cash quickly, you can receive funds within a settlement period of just one to three days.
Funds are held by Pershing Advisor Solutions, a Bank of New York Mellon Company. It is one of the largest U.S. custodians and currently holds more than a trillion dollars in global client assets.
Tax Optimization Strategies
Empower uses several techniques and strategies to ensure clients are optimizing their taxes on investments. First, they entirely avoid mutual funds, which they regard as inefficient for tax purposes. Their asset location is personalized whether you have taxable accounts or retirement accounts.
For example, Empower typically places high-yielding accounts and fixed income into a tax-deferred or exempt account. REITs are also generally placed in a retirement account because they pay nonqualified dividends.
Finally, Empower utilizes tax-loss harvesting, meaning they use individual securities that realize losses and can, therefore, offset gains or provide a tax deduction.
Special Features
You can take advantage of some of Empower’s online resources without even becoming a client. Just by creating a Empower account, you can link all of your financial accounts for an investment checkup.
The program analyzes your bank accounts, credit cards, and investments to create recommendations on your asset allocations. You can then choose whether to make those adjustments to your investments.
Additionally, you can check holistically on how your investments are performing by considering how much you’re charged in fees. You can do this in one of two ways.
The first is through the Mutual Fund Analyzer, which you can compare performance (with fees) against the broader markets. Then you can use the general Fee Analyzer to see what you’re being charged on your non-taxable retirement accounts.
You can also use Empower for a budget check-up that analyzes your saving and spending. You can even incorporate their Retirement Planner for long-term savings projections.
You’ll be provided with several scenarios, including best-case, worst-case, and most likely. It gives you a good idea of what you could potentially expect when you’re finally ready to retire.
All of these features run through the Empower financial dashboard, so you can get a holistic view of your entire financial picture. You can use them on their mobile app or website.
Some of their investment management tools include a 401(k) Analyzer, Retirement Planner, Investment Checkup, Net Worth Calculator. Moreover, you still have the ability to contact a personal financial advisor.
As we mentioned earlier, Empower implements five distinct strategies for investing. Learn a bit more about each one to get a better grasp of how your money would be managed by this advisor.
Modern Portfolio Theory
The prime directive here is to create an efficient portfolio for clients while yielding the highest possible return for the lowest possible risk.
Empower works with six asset classes to provide this equilibrium, which are all meant to be liquid and broadly investible. These asset classes are U.S. stocks and bonds, international stocks and bonds, alternatives (including ETFs and commodities), and cash for liquidity.
Personalized Asset Allocation
There’s a reason the company is called Empower: they understand that no two investors are exactly alike. That’s why they look at your individual data and financial goals to balance your portfolio’s risk and growth.
They use a proprietary Retirement Planner software that analyzes your spending and savings habits in addition to your projected income. This helps you determine what your financial future looks like and what you may need to change to reach your future goals.
Tax Optimization
We mentioned earlier that Empower optimizes your taxes by using tax-loss harvesting and asset location, as well as avoiding mutual funds.
In fact, these steps could boost your annual returns by as much as 1%. While many financial advisors use one or two of these tactics, Empower offers a truly robust strategy to make your portfolio more tax efficient.
Equal Sector and Style Weighting
Empower’s strategy for diversification involves equalizing the composition of your portfolio by sector, size, and style.
The goal is to prevent bubbles and other volatile conditions from adversely affecting your investments too much. Likewise, they don’t rely on a few large companies, but instead spread out U.S. stock investments between 70 and 100 different stocks.
Disciplined Rebalancing
Your portfolio receives a daily review for any potential rebalancing needs. For high-level assets, they’re typically rebalanced when they deviate more than a few percentage points from the target.
Specific securities receive a smaller margin and are reviewed after just a 0.5% move from the target. Having a systematic review allows you to maximize your ability to buy low and sell high.
Who is Empower best for?
Empower offers truly extensive services for high net worth investors, particularly considering the low percentage of fees charged. This is especially true if you’re an investor with several million dollars in assets and who likes to have easy access to a dedicated financial advisory.
After all, in the Private Client tier of $1 million+, you can get advice on just about anything related to your finances, whether it’s about retirement, real estate, or anything in between.
That’s on top of the personalized asset management, so you have a one-stop-shop of both automated algorithms and a human point of contact who understands the larger picture concerning your finances.
Empower also makes it easy for this type of investor to remain passive. If you appreciate their investment management and like how the allocation and review processes, then you don’t have to do much on your own.
“Mortgage rates were mostly lower last week, with the 30-year fixed rate declining slightly to 6.93%, the lowest level in more than three months,” Joel Kan, vice president and deputy chief economist at the MBA, said in the report. “Lower rates, however, were still not enough to entice refinance borrowers back, as most continue to … [Read more…]
National mortgage rates were mostly lower compared to a week ago, according to rates data compiled by Bankrate. Average rates for 30-year fixed, 5/1 ARMs and jumbo loans declined, while rates for 15-year home loans increased.
Inflation has cooled somewhat, but homebuyers are still feeling limited by high prices and rates. At the close of the Fed meeting on June 12, policymakers again held off on changing interest rates. The next Fed meeting concludes July 31.
“With [the June 12] announcement, the Fed confirms its higher-for-longer position on interest rates,” says Dr. Selma Hepp, chief economist at CoreLogic. “But the stance is looking more untenable as more American households continue to pull back on spending. As more economic indicators begin to confirm this and unemployment begins to rise, the Fed will then look to cut rates. What’s not clear yet is when exactly the disinflation signs will be consistent enough for the first rate cut — we hope it’s still this year.”
Often, though, the decision to buy a home isn’t based on what’s happening in the economy — it’s more personal. Depending on your situation, it might make sense to take a higher rate now and refinance later. This way you can start building equity, rather than chancing that buying a home will become more affordable in the future..
Rates as of June 25, 2024.
The rates listed above are Bankrate’s overnight average rates and are based on the assumptions here. Actual rates available within the site may vary. This story has been reviewed by Suzanne De Vita. All rate data accurate as of Tuesday, June 25th, 2024 at 7:30 a.m. ET.
Current 30 year mortgage rate drops, -0.02%
The average rate for a 30-year fixed mortgage for today is 7.00 percent, down 2 basis points over the last seven days. Last month on the 25th, the average rate on a 30-year fixed mortgage was higher, at 7.13 percent.
At the current average rate, you’ll pay principal and interest of $665.30 for every $100,000 you borrow. That’s lower by $1.35 than it would have been last week.
Use our mortgage calculator to approximate your monthly payments and see how much you’ll save by adding extra payments. The tool will also help you calculate how much interest you’ll pay over the life of your loan.
15-year mortgage rate trends upward, +0.03%
The average rate for the benchmark 15-year fixed mortgage is 6.46 percent, up 3 basis points over the last week.
Monthly payments on a 15-year fixed mortgage at that rate will cost $869 per $100,000 borrowed. That may squeeze your monthly budget than a 30-year mortgage would, but it comes with some big advantages: You’ll save thousands of dollars over the life of the loan in total interest paid and build equity much more rapidly.
5/1 adjustable rate mortgage declines, -0.03%
The average rate on a 5/1 ARM is 6.66 percent, ticking down 3 basis points from a week ago.
Adjustable-rate mortgages, or ARMs, are mortgage loans that come with a floating interest rate. To put it another way, the interest rate will change at regular intervals, unlike fixed-rate mortgages. These loan types are best for those who expect to sell or refinance before the first or second adjustment. Rates could be substantially higher when the loan first adjusts, and thereafter.
While borrowers shunned ARMs during the pandemic days of super-low rates, this type of loan has made a comeback as mortgage rates have risen.
Monthly payments on a 5/1 ARM at 6.66 percent would cost about $643 for each $100,000 borrowed over the initial five years, but could increase by hundreds of dollars afterward, depending on the loan’s terms.
Jumbo mortgage interest rate falls, -0.01%
The current average rate you’ll pay for jumbo mortgages is 7.16 percent, down 1 basis point over the last week. A month ago, the average rate was higher at 7.22 percent.
At the current average rate, you’ll pay a combined $676.08 per month in principal and interest for every $100,000 you borrow. Compared with last week, that’s $0.68 lower.
Refinance rates
30-year mortgage refinance goes unchanged
The average 30-year fixed-refinance rate is 6.96 percent, unchanged since the same time last week. A month ago, the average rate on a 30-year fixed refinance was higher at 7.15 percent.
At the current average rate, you’ll pay $662.62 per month in principal and interest for every $100,000 you borrow.
Where are mortgage rates heading?
The rates on 30-year mortgages mostly align with the 10-year Treasury yield, which changes with the market, while the cost of variable-rate home loans more directly mirrors the Fed’s moves.
If and when the Fed cuts interest rates depends on evolving economic data, such as inflation and the jobs market. While inflation has dropped from its height in 2022, it’s still well above the Fed’s target rate of 2 percent. Unemployment is still low, though in May it hit 4 percent for the first time since 2022.
“Much like that flight where departure keeps getting delayed 15 minutes at a time with no end in sight, the timetable for when the Fed begins to cut rates is equally uncertain,” says Greg McBride, CFA, Bankrate chief financial analyst.
While the Fed bases its decisions on rate changes due to broader economic factors, your rate is also affected by personal finances. Depending on your credit score, down payment, debts and income, you could be quoted a rate that’s higher or lower than the trend.
What current rates mean for you and your mortgage
Mortgage rates adjust daily, but it appears that, for now, they will remain above the historical lows of recent years. If you’re shopping for a mortgage, it might be wise to lock your rate when you find an affordable loan. If your house-hunt is taking longer than anticipated, revisit your budget so you’ll know exactly how much house you can afford at current market rates.
To help you uncover the best deal, get at least three loan offers, according to Freddie Mac research. You don’t have to stick with your bank or credit union, either. There are many types of mortgage lenders, including online-only and local, smaller shops.
“All too often, some [homebuyers] take the path of least resistance when seeking a mortgage, in part because the process of buying a home can be stressful, complicated and time-consuming,” says Mark Hamrick, senior economic analyst for Bankrate. “But when we’re talking about the potential of saving a lot of money, seeking the best deal on a mortgage has an excellent return on investment. Why leave that money on the table when all it takes is a bit more effort to shop around for the best rate, or lowest cost, on a mortgage?”
More on current mortgage rates
Methodology
Bankrate displays two sets of rate averages that are produced from two surveys we conduct: one daily (“overnight averages”) and the other weekly (“Bankrate Monitor averages”).
The rates on this page represent our overnight averages. For these averages, APRs and rates are based on no existing relationship or automatic payments.
Learn more about Bankrate’s rate averages, editorial guidelines and how we make money.
Today’s advanced smart air purifiers ensure clean air. Photo: Shutterstock
“The pandemic significantly increased the time people spent at home, heightening their awareness of health and wellness,” says Jessica Smith, a brand strategist who co-authored the “Home as Highest-tech Health Hub” section of the report.
Brand strategist Jessica Smith says self-care is now a cornerstone of modern living spaces. Photo: LinkedIn
More than two-thirds of Americans now say they spend more time at home compared to two years ago, she says. The convenience and necessity of managing health from home have sped up the adoption of health-centric technologies, “making self-care a cornerstone of modern living spaces”.
These innovations range from circadian rhythm lighting systems – that are set to a lower intensity in the early morning, transition to a higher intensity as the day progresses, and dip in the evening – that improve sleep quality, to smart air purifiers that ensure clean air.
“Unlike traditional medical healthcare, these technologies focus on prevention and maintaining well-being, offering tools that help individuals lead healthier, more balanced lives,” says Smith.
Examples mentioned in the report include DeRucci’s AIoT (Artificial Intelligence of Things) smart mattress, which uses 23 flexible sleep/health AI sensors that track subtle changes in position, body temperature, heart rate, and health and has 18 support airbags that instantly respond and support the user’s position and body movements.
“Such innovations will create healthier living environments and facilitate early detection of health issues, bridging the gap between wellness and medical care,” Smith says.
By using biometric data and adaptive technologies, these environments can adjust lighting, temperature, and even decor in real time to suit individual moods and activities
Jessica Smith
In the US, gadgets are not permitted by law to “diagnose” medical conditions – they can only suggest that something may be wrong and that the user see a doctor for a professional diagnosis. This form of health monitoring is becoming more common, the report says.
Trends indicate a growing adoption of remote health monitoring and virtual consultations, powered by AI. They are enabling more comprehensive healthcare management from the comfort of home.
Nanotechnology works by manipulating atoms the size of one-millionth of a millimetre, or less. And it promises to revolutionise wellness at home by providing advanced materials and devices, says Smith.
“For instance, self-cleaning surfaces using TiO2 [titanium dioxide] nanoparticles can significantly enhance hygiene, while nanotech-based wearables enable continuous health monitoring.”
De Rucci’s smart mattress uses 23 AI sensors to adapt the mattress to the sleeper’s position. It also checks body temperature and heart rate. Photo: De Rucci
At the other end of the scale, “empathetic architecture” creates living spaces that respond to inhabitants’ emotional and physical needs.
“By using biometric data and adaptive technologies, these environments can adjust lighting, temperature, and even decor in real time to suit individual moods and activities,” says Smith.
Ari Peralta, a neuroscientist specialising in sensory design and wellness and founder of Arigami, a studio at the forefront of multisensory integration and sensory profiling, has expanded the idea to include the effects of fine art on the inside environment.
He contributed a section of the report called “A New Multi-sensory Art for Health and Wellness”. Peralta’s focus is on how immersive, sometimes interactive, art created by generative AI – the same technology that powers ChatGPT – can create environments that are conducive to well-being.
Research shows art can benefit our mental, physical and social wellness dimensions, Peralta says.
Imagine art that can transform you based on your movement, heartbeat or mood, inviting you to disconnect from the acceleration of life and fully immerse yourself in that moment
Ari Peralta
“Movement, touch, sound, temperature, all play a role in shaping our sensory experiences. Our nervous system and our sensory system are intertwined,” he says. The sensory system can be used to calm our “flight or fight” responses.
Immersive art uses images and sound to provide the sensation that the viewer is part of the artwork. It often employs light as a visual medium, it can be 3D, it is often created at a large scale, and is interactive in some way, responding to input from the participant or the environment.
Sometimes the imagery and sound can be synched to the participant’s biorhythms, like a heartbeat.
“Imagine art that can transform you based on your movement, heartbeat or mood, inviting you to disconnect from the acceleration of life and fully immerse yourself in that moment,” he says.
“Thanks to new AI technology, art is becoming more participatory, interactive and holistic.”
Ari Peralta is a neuroscientist specialising in sensory design and wellness who founded the company Arigami. Photo: Arigami
Science supports the value in art therapy.
“Extensive research coming out of healthcare facilities indicates that art can reduce patient and personnel stress, curb depression and even reduce pain, therefore promoting a healing environment,” he writes.
“Neuroscience studies confirm that immersive and multisensory art can stimulate the higher-level areas of the brain responsible for creativity and imagination,” he adds. This frees the brain from anxiety and allows space “for inspiration”.
Peralta highlights a recent study that used qEEG (quantitative electroencephalogram) tests that measure electrical activity in the form of brain wave patterns to learn more about the effects of abstract art.
It confirmed an increase in the test subject’s brain voltage, and noted the activation of more regions of the brain when they were viewing abstract art and the brain was challenged to create its own interpretation of it, he says.
A woman wears a VR headset while waving her hands in front of an art display, part of an immersive art experience. Photo: Shutterstock
Everything is coming together to make wellness a priority in the design world, he says.
“Working at the dawn of the next technological revolution offered by generative AI, art-as-wellness and its potential positive impact on human well-being are among the most exciting new fields to explore.”
With iconic landmarks like the Gateway Arch and the vibrant nightlife of the Delmar Loop, St. Louis offers a unique experience for renters. If you’re looking to rent an apartment in St. Louis, you’ll find that the average rent for a one-bedroom apartment is $1,459. Whether you’re seeking a luxurious apartment or exploring different neighborhoods, ApartmentGuide is here to help. We’ve compiled a list of the most expensive St. Louis neighborhoods to rent an apartment in this year.
4 Most Expensive Neighborhoods in St. Louis
From the wrought iron balconies of the Soulard Historic District to the creative energy of Forest Park Southeast, there are plenty of exciting neighborhoods in St. Louis. Whether you’re looking for a luxurious home to rent in St. Louis or wondering where to live in the city, we’ve got you covered.
1. St. Louis Hills 2. Forest Park Southeast 3. Lafayette Square 4. Soulard Historic District
Let’s jump in and see what these neighborhoods have to offer.
1. St. Louis Hills
Average 1-bedroom rent: $1,595 Apartments for rent in St. Louis Hills
St. Louis Hills is the most expensive neighborhood in St. Louis, as the average rent for a one-bedroom unit is $1,595. St. Louis Hills stands out with its picturesque, tree-lined streets and beautifully maintained brick homes, many of which showcase charming Tudor and Colonial architectural styles. The neighborhood is home to Francis Park, a beloved green space featuring walking paths, racquetball courts, and the iconic “Francine the mermaid” statue, where residents gather for community events and outdoor activities. Local favorites like LeGrand’s Market offer delicious, homemade deli sandwiches, adding a unique flavor to the area. Art enthusiasts appreciate the stunning mosaics and sculptures scattered throughout the neighborhood, contributing to its artistic charm. Residents without a car can use the well-connected MetroBus system for convenient transportation, although many find the area highly walkable and bike-friendly.
2. Forest Park Southeast
Average 1-bedroom rent: $1,550 Apartments for rent in Forest Park Southeast
Forest Park Southeast in St. Louis stands out for its eclectic vibe and vibrant street life, characterized by colorful murals and historic brick buildings. The neighborhood is home to The Grove, a lively entertainment district featuring unique bars like Urban Chestnut Brewing Company and eclectic eateries such as The Gramophone, known for its gourmet sandwiches and live music. Forest Park itself, located nearby, offers expansive green spaces, walking trails, and attractions like the St. Louis Zoo and the Missouri History Museum, making it a haven for outdoor enthusiasts and families. Residents often get around on foot or by bike, taking advantage of the neighborhood’s bike-friendly streets and proximity to public transportation options, including several MetroBus routes and the Central West End MetroLink station. The area’s housing includes a mix of restored historic homes, trendy loft apartments, and modern townhouses.
3. Lafayette Square
Average 1-bedroom rent: $1,519 Apartments for rent in Lafayette Square
With an average one-bedroom rent of $1,519, Lafayette Square is the third most expensive neighborhood in St. Louis. Picturesque Victorian architecture and beautifully restored 19th-century homes give the neighborhood a timeless charm. The centerpiece of the area is the historic Lafayette Park, the oldest public park west of the Mississippi, featuring lush gardens, winding paths, and a charming gazebo. Local attractions include the Lafayette Square Fountain and Plaza, as well as unique establishments like Planter’s House, a renowned cocktail bar housed in a historic building, and Eleven Eleven Mississippi, a popular restaurant offering Tuscan-inspired cuisine. The neighborhood’s tree-lined streets and brick sidewalks create a walkable environment, encouraging residents to stroll and bike through the area. Public transportation is readily accessible, with several bus routes and proximity to major thoroughfares making it easy to navigate the city.
4. Soulard Historic District
Average 1-bedroom rent: $1,460 Apartments for rent in Soulard Historic District
The Soulard Historic District in St. Louis is famous for its French-influenced architecture, with beautifully preserved 19th-century brick townhomes and wrought-iron balconies lining its streets. The Soulard Farmers Market, one of the oldest public markets in the country, offering a diverse array of fresh produce, local meats, and artisanal goods. The area’s nightlife is lively and distinctive. Iconic establishments like McGurk’s, known for its traditional Irish music and expansive outdoor garden, and the funky, live-music hub, The Venice Cafe draw crowds from all over the city. Residents and visitors can explore the area easily on foot or bike, thanks to its pedestrian-friendly layout and dedicated bike lanes. Soulard also hosts the city’s largest Mardi Gras celebration, drawing crowds for its festive parades and street parties.
Methodology: Whether a neighborhood has an average 1-bedroom rent price over the city’s average. Average rental data from Rent.com in June 2024.
Folks on Reddit report that American Express has now added terms to exclude Google Fi from counting as the Wireless category. This matters for things like the $10 Amex Business Platinum credit and for the 4x earn on the Business Gold.
Any purchases from Google Fi, third parties, authorized retailers or resellers are excluded. (Terms link)
From the statement: “Effective June 21, 2024, Google Fi is not an eligible US wireless provider and purchases of Google Fi will not be eligible for additional rewards or statement credits under the wireless rewards category”
From what I gather, it hasn’t worked in a while, and needed manual application to get credit. Going forward it’s less likely we’ll be able to get manual credit given it being clearly excluded.