Ben Villarreal
Mortgage refinance rates change every day. Experts recommend shopping around to make sure you’re getting the lowest rate. By entering your information below, you can get a custom quote from one of CNET’s partner lenders.
About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.
A vast majority of US homeowners already have mortgages with a rate below 6%. Because mortgage refinance rates have been averaging above 6.5% over the past several months, households are choosing to hold on to their existing mortgages instead of swapping them out with a new home loan.
If rates fell to 6%, at least a third of borrowers who took out mortgages in 2023 could reduce their rate by a full percentage point through a refinance, according to BlackKnight.
Refinancing in today’s market could make sense if you have a rate above 8%, said Logan Mohtashami, lead analyst at HousingWire. “However, with all refinancing options, it’s a personal financial choice because of the cost that goes with the loan process,” he said.
Mortgage rates have been sky-high over the last two years, largely as a result of the Federal Reserve’s aggressive attempt to tame inflation by spiking interest rates. Experts say that decelerating inflation and the Fed’s projected interest rate cuts should help stabilize mortgage interest rates by the end of 2024. But the timing of Fed cuts will depend on incoming economic data and the response of the market.
For homeowners looking to refinance, remember that you can’t time the economy: Interest rates fluctuate on an hourly, daily and weekly basis, and are influenced by an array of factors. Your best move is to keep an eye on day-to-day rate changes and have a game plan on how to capitalize on a big enough percentage drop, said Matt Graham of Mortgage News Daily.
When you refinance your mortgage, you take out another home loan that pays off your initial mortgage. With a traditional refinance, your new home loan will have a different term and/or interest rate. With a cash-out refinance, you’ll tap into your equity with a new loan that’s bigger than your existing mortgage balance, allowing you to pocket the difference in cash.
Refinancing can be a great financial move if you score a low rate or can pay off your home loan in less time, but consider whether it’s the right choice for you. Reducing your interest rate by 1% or more is an incentive to refinance, allowing you to cut your monthly payment significantly.
The rates advertised online often require specific conditions for eligibility. Your personal interest rate will be influenced by market conditions as well as your specific credit history, financial profile and application. Having a high credit score, a low credit utilization ratio and a history of consistent and on-time payments will generally help you get the best interest rates.
The average 30-year fixed refinance rate right now is 7.20%, a decrease of 0 basis point from what we saw one week ago. (A basis point is equivalent to 0.01%.) A 30-year fixed refinance will typically have lower monthly payments than a 15-year or 10-year refinance, but it will take you longer to pay off and typically cost you more in interest over the long term.
For 15-year fixed refinances, the average rate is currently at 6.70%, an increase of 12 basis points over last week. Though a 15-year fixed refinance will most likely raise your monthly payment compared to a 30-year loan, you’ll save more money over time because you’re paying off your loan quicker. Also, 15-year refinance rates are typically lower than 30-year refinance rates, which will help you save more in the long run.
The current average interest rate for a 10-year refinance is 6.69%, an increase of 28 basis points compared to one week ago. A 10-year refinance typically has the lowest interest rate but the highest monthly payment of all refinance terms. A 10-year refinance can help you pay off your house much quicker and save on interest, but make sure you can afford the steeper monthly payment.
To get the best refinance rates, make your application as strong as possible by getting your finances in order, using credit responsibly and monitoring your credit regularly. And don’t forget to speak with multiple lenders and shop around.
Homeowners usually refinance to save money, but there are other reasons to do so. Here are the most common reasons homeowners refinance:
Source: cnet.com
Market is always a blast, packed with days of appointments, fresh new fabrics and furniture frames and seemingly limitless inspiration. We go to pick up new products from vendors we know and love, source new merchandise, and scout out vendors we didn’t know we needed!
And while we’re doing all of these things, it’s impossible not to spot the trends as we walk through showroom after showroom. Some of them we embrace, others we enjoy from afar, and all of them we enjoy coming and going as the Markets and years go by.
I’m talking here about trends and the things we loved seeing the most at Spring 2024 Market in High Point, North Carolina.
Let’s kick things off with pastels! A throwback to the 1980s perhaps (and the ‘40s/’50s before that, and the ‘20s before that!)? A colorful yet soft palette, we saw sweet pinks, tender greens, serene blues, and gentle yellows all over market.
Within the pastels family, lavender was a standout color at Market. We spotted purples and plums frequently, but lovely lavender stole the show. Lavender started making an appearance last market and has been all over the world of fashion, but this spring it really was ubiquitous.
But if pastels are not your thing, fear not: Despite the popularity of pastels, moody palettes continued to make their bold statements, with blacks and plums reigning supreme.
Cottagecore, a personal favorite of mine, was making its soft statement all over Market. This shabby chic reincarnation, which is zero percent shabby and 100% sweetly chic, creates soft, cozy spaces often incorporating florals, checks and ticking strips along with wood detailing, woven elements like wicker, and ruffles galore. It made us feel like spending the weekend in the English countryside. The look is a welcome contrast to clean lined, low patterned contemporary spaces and prioritizes warmth and comfort over all.
Mountain Modern plays up the neutral palettes mentioned before, bringing in cool leathers, plush furs, stained woods in varied hues, and accented with black elements. Whether you’re up for a run down the mountain or just here for the apre ski, this vibe will have you feeling like you’re perched in a mountaintop chalet.
In the world of design, it’s all about the layers. Whatever your aesthetic, it’s the layers of elements that pull a space together and give it the overall feeling you want to achieve. Perhaps it’s the resurgence of cottage charm, the return of pattern on pattern in general, or just our collective love of textiles, but ruffles, pleats and fringe were seen everywhere and we couldn’t get enough of them!
Whether it’s a pleated ottoman skirt, ruffles around a bench, bed skirts (I think it’s safe to say these have made their comeback) or a canopy bed draped in layers upon layers of gorgeous fabrics, these elements soften the spaces they fill and offer opportunities to add pattern, color and oh-so-lovely layers for which we are always looking.
In the same vein, while scallops are nothing new, we spotted them being used in fun new ways, including bed frames and furniture aprons and skirting. When a space begins to feel like it’s being overrun with straight lines, a sweet scallop addition is a great way to soften things up. Commit to the curvy lines of a scalloped furniture piece, or tuck in a scalloped tray on a tabletop or ottoman for just a dash of the look.
While we’re on the subject of making old new again, canopy beds are perhaps one of the things I loved seeing most at Market, and not only because they give us just that many more surfaces onto which we can apply color and pattern and use more textiles in general. This historic concept used to serve a purpose beyond their aesthetic contributions – they kept their occupants warm and cozy in a time when central heating didn’t exist, and offered a shred of privacy when privacy could be hard to come by. Today, this style and its many variations are getting plenty of attention and I just can’t get enough.
Mural wallpapers are still going strong and encompass a variety of aesthetics. From bold colors and graphic patterns to idyllic English countryside scenes to classic chinoiserie, they all make their own kind of statement and add large-scale personality to spaces.
While we often build a room from the ground up (if we begin designing around a rug), I’ll have to end this with what we spotted on the floor: hair-on-hide rugs and traditional rugs, both in all types of spaces. Hide rugs, layered or on their own, were featured in a number of spaces, and not just those with a rustic flair. Traditional rugs were also highlighted in settings that ranged from traditional to modern, serving as fantastic foundations to all.
#lee-rev-content margin:0 -5px;
#lee-rev-content h3
font-family: inherit!important;
font-weight: 700!important;
border-left: 8px solid var(–lee-blox-link-color);
text-indent: 7px;
font-size: 24px!important;
line-height: 24px;
#lee-rev-content .rc-provider
font-family: inherit!important;
#lee-rev-content h4
line-height: 24px!important;
font-family: “serif-ds”,Times,”Times New Roman”,serif!important;
margin-top: 10px!important;
@media (max-width: 991px)
#lee-rev-content h3
font-size: 18px!important;
line-height: 18px;
#pu-email-form-breaking-email-article
clear: both;
background-color: #fff;
color: #222;
background-position: bottom;
background-repeat: no-repeat;
padding: 15px 0 20px;
margin-bottom: 40px;
border-top: 4px solid rgba(0,0,0,.8);
border-bottom: 1px solid rgba(0,0,0,.2);
display: none;
#pu-email-form-breaking-email-article,
#pu-email-form-breaking-email-article p
font-family: -apple-system, BlinkMacSystemFont, “Segoe UI”, Helvetica, Arial, sans-serif, “Apple Color Emoji”, “Segoe UI Emoji”, “Segoe UI Symbol”;
#pu-email-form-breaking-email-article h2
font-size: 24px;
margin: 15px 0 5px 0;
font-family: “serif-ds”, Times, “Times New Roman”, serif;
#pu-email-form-breaking-email-article .lead
margin-bottom: 5px;
#pu-email-form-breaking-email-article .email-desc
font-size: 16px;
line-height: 20px;
margin-bottom: 5px;
opacity: 0.7;
#pu-email-form-breaking-email-article form
padding: 10px 30px 5px 30px;
#pu-email-form-breaking-email-article .disclaimer
opacity: 0.5;
margin-bottom: 0;
line-height: 100%;
#pu-email-form-breaking-email-article .disclaimer a
color: #222;
text-decoration: underline;
#pu-email-form-breaking-email-article .email-hammer
border-bottom: 3px solid #222;
opacity: .5;
display: inline-block;
padding: 0 10px 5px 10px;
margin-bottom: -5px;
font-size: 16px;
@media (max-width: 991px)
#pu-email-form-breaking-email-article form
padding: 10px 0 5px 0;
.grecaptcha-badge visibility: hidden;
Source: journalnow.com
From 2010 to 2024, the reverse mortgage industry sought to allow remote reverse mortgage counseling in the state of Massachusetts, citing an insufficient number of actual counselors and logistical challenges for senior clients.
But as time dragged on and state lawmakers seemed unwilling to seriously entertain the proposal, the ravages of the COVID-19 coronavirus pandemic helped to change the dynamics of the situation.
RMD has been covering the situation for much of that time period, including the exacerbation of the pandemic and the urgency it created for the business in the state, up through the various efforts to pass a law allowing for a permanent exception that would permit remote counseling.
In late April 2010, the Massachusetts State Senate introduced legislation requiring in-person reverse mortgage counseling.
Sponsored by the Senate’s Joint Committee on Housing and Urban Development, the law prohibited the origination of a reverse mortgage unless the borrower “affirmatively opts in writing for the reverse mortgage and has received certification from a counselor with a third party organization,” and in person, on the suitability of the loan.
The bill ultimately passed on May 4 of that year under unanimous consent. Sponsored primarily by then-Sen. Susan Tucker (D), she told outlet ItemLive that the situation for reverse mortgages in the state amounted to a “Wild West” for seniors.
She recounted that “she’d heard story after story of sad people selling annuities and convincing people to take on reverse mortgages at a huge commission,” according to RMD’s reporting on the law’s passage by publication founder John Yedinak.
In subsequent interviews, George Downey — a leading reverse mortgage professional in the state and longtime advocate for relaxing the strict in-person counseling requirement — explained to RMD that the legislation came about from good intentions: A community activist sought to ensure that more seniors would be protected from potentially being “duped” into getting a loan they may not need.
Industry reactions at the time were swift. Originators were concerned about how the law would limit business, and a communications representative for the Massachusetts Bankers Association highlighted issues that people in the state would later say came to fruition. “The proposed change would be logistically difficult,” Yedinak reported in May 2010.
“Especially for people in rural areas, and for those with limited mobility, [the rep] said in-person counseling could be a challenge. And he said the organizations that do the counseling would have to ramp up their staffing to handle more in-person contact.”
In August 2010, the restriction was tightened further to apply to anyone meeting the label of a “low-income senior.” At the time, the National Reverse Mortgage Lenders Association (NRMLA) told RMD that of the 3,600 counseling sessions in Massachusetts in 2009, “approximately 130 of those being face-to-face, equaling a 96 percent opt-out rate for face-to-face counseling,” RMD reported. “Based on a recent ‘mystery shopping’ experiment, the association found only eight agency-approved face-to-face counselors in the entire state.”
That number would dwindle further in the following decade to roughly five. While industry advocates were successful in delaying the requirement to 2014, that would not improve the trajectory of available counselors.
After an attempt to delay the implementation of the rule to 2016 failed, the rule went into full effect in 2014. Stories of business challenges immediately followed.
“[W]e have this mandated face-to-face counseling but there are many seniors not able to get the counseling, and so we continue to fight the fight,” Downey told RMD in 2015.
While former Massachusetts Rep. Paul Brodeur (D) had introduced legislation to roll back the in-person requirement shortly after its passage, legislation to that effect never materialized. At that point, Brodeur handed the issue off to his successor in the state’s 32nd Middlesex, Rep. Kate Lipper-Garabedian (D), who took office in 2019.
As the requirement persisted into early 2020, the onslaught of the COVID-19 pandemic — and its ability to cause more serious illness for seniors — would directly clash with a slew of mandates that restricted in-person business from taking place. The combination of the in-person reverse mortgage counseling requirement and the mandates restricting in-person business effectively stalled any reverse mortgage business in the state.
“Of course, everything was shut down,” Downey said in an interview with RMD. “People were working remotely and the mandate for in-person counseling was effectively neutralized, because people were not able to go out and to do it.”
Legislative action relaxing the in-person requirement on a temporary basis came swiftly, but it still wasn’t quite enough to do away entirely with the requirement that created logistical challenges for seniors in getting to their counseling appointments. It would still be four years before a permanent solution was placed onto the books.
Paul Brodeur was elected mayor of Melrose, Massachusetts — situated in the Greater Boston metropolitan area — in November 2019. Prior to that point, he had filed versions of a bill relaxing the in-person requirement in each of the two-year legislative sessions between 2010 and 2018. He handed the issue of a permanent legislative fix for the in-person requirement to his successor, Lipper-Garabedian.
She filed a bill seeking a permanent fix in 2020, but over the next few years, temporary relief was favored over a permanent solution. The process was long, involving meetings between industry stakeholders within the state, legislators and trade groups — including NRMLA and the Massachusetts Mortgage Bankers Association (MMBA).
“What the pandemic did was approve the concept,” said Brett Kirkpatrick of The Federal Savings Bank, another key advocate for the permanent legislation. “Which means the sky didn’t fall when seniors were only counseling by telephone; it still worked. We had accumulated a track record and the counseling agencies were instrumental.”
These agencies surveyed their clients about their own preferences, which proved to be a major contributor to getting permanent changes over the finish line last month, Downey and Kirkpatrick said.
Not only can clients more easily attend their counseling sessions, but family members — often a reverse mortgage borrower’s most trusted advisers — could also attend them, no matter where in the world they might be, and thereby strengthening a consumer protection argument.
After a series of temporary extensions for years following the onset of the pandemic — which saw their expirations again threaten the existence of reverse mortgage business within the state multiple times — the final extension expired at the end of March 2024. This served as the catalyst for a final sprint to get some kind of permanent fix codified in legislation.
“For the last three months, we’ve been full-court press in trying to get this, and it finally worked,” Kirkpatrick said. “Thanks to Kate and other representatives, we were able to get [the permanent fix] attached to a budget bill. A budget bill is always the vehicle of choice because that’s a must-pass.”
The legislation including the language to relax the in-person requirement passed in the final days of April and was soon signed into law by Gov. Maura Healey (D). It included a retroactive provision allowing for remote counseling in the period between the expiration of the last extension and the beginning of permission for remote counseling sessions.
Downey and Kirkpatrick expressed gratitude to all of the involved parties that helped make it possible, including NRMLA, MMBA, the Division of Banks and members of the Massachusetts Legislature, including Lipper-Garabedian.
To get such legislative and lobbying work done, “the stars have to align,” Kirkpatrick said. “You have to have the person, the moment, and you have to be there and strike when the iron is hot.”
Source: housingwire.com
Sure, you could store all the cash you’re likely to need in the near future in a checking account and call it a day. But that would mean missing out on the many benefits of having a savings account.
While savings accounts don’t offer the returns you could potentially get in the market, they pay interest (generally a lot more than you can earn in a checking account), while still keeping your money safe and accessible. This makes them ideal for housing your emergency funds and money you’re saving for shorter-term goals, like buying a car or going on vacation.
Here’s a closer look at the perks of having a savings account and why this type of account likely deserves a place in your financial toolkit.
A savings account is a type of deposit account at a bank, credit union, or other financial institution where you can safely store your money and earn interest. Savings accounts at banks insured by the Federal Deposit Insurance Corporation (FDIC) are typically covered up to $250,000 per depositor. Co-owners of joint accounts at the same bank are typically each insured up to $250,000. Credit unions offer similar insurance through the National Credit Union Administration (NCUA).
Unlike a checking account, which is set up for everyday money management, a savings account is designed to store money you don’t need right away, separate from everyday spending cash. These accounts typically don’t come with checks and debit cards, and some banks may limit you to a certain number of withdrawals per month.
Because savings accounts offer safety, liquidity, and interest, they can be a great place for setting aside money for shorter-term goals, such as:
• An emergency savings fund
• A down payment on a house
• A wedding
• A vacation
• A new car
• A large purchase
• Home renovations
Dive deeper: How Do Savings Accounts Work?
Here’s a look at some of the main advantages of a savings account.
Savings accounts earn interest, expressed as an annual percentage yield (APY). That means you’ll earn money just for keeping your funds in the bank, making it a low-risk way to build wealth. Not every savings account offers the same interest rate, however. While the current national average savings yield is 0.57 percent, top-yielding savings accounts are currently earning APYs above 5% percent.
To see how that translates into actual dollars, let’s say you currently have $5,000 sitting in your checking account you don’t need right away, and you transfer it to a 5% APY high-yield savings account. Even if you don’t add any additional money to the account, you could increase your balance in one year to $5,250, just by letting the initial deposit sit in your new savings account.
Recommended: What Are High-Yield Savings Accounts?
Savings accounts are typically insured by the FDIC or NCUA, depending on where the account is held. That means your money is protected against major losses (up to $250,000) in the event that the bank or credit union goes out of business. You would either be paid that money directly or, more likely, a new account would be opened for you at another bank with the same balance as before. This makes a savings account safer than keeping your money in a sock drawer or under the mattress, where it is susceptible to theft or loss.
Savings accounts don’t offer high returns compared to what you could potentially make in an investment account over the long term. However, these accounts won’t let you down either. With many investments, you can lose money over the course or days, weeks, months, and even years. The balance on a savings account, on the other hand, will typically continue to go up over time (unless, of course, you make a withdrawal).
If you have money you plan to use within the next couple of years that you can’t afford to lose, a savings account can be the perfect place to store it.
Savings accounts are easy to open and typically do not require you to make a big initial deposit. In fact, many online-only savings accounts allow you to open an account with $0, so you can start saving from scratch. Savings accounts at traditional brick-and-mortar banks may require deposits of $25 to $100 to open a new account. By contrast, many investments (such as real estate and mutual funds) often require a significant amount of money as an initial investment, sometimes as much as several thousand dollars.
Keep in mind, though, that some savings accounts do offer higher interest rates and low (or no fees) if your balance stays above a certain minimum threshold or you meet other criteria.
If you’re saving for a particular goal, like buying a car or putting a downpayment on a home, it can be helpful to keep that money in a separate savings account. This helps to ensure that you don’t blow the money on something else, like groceries or clothing.
If you have several things you’re saving for, you might even want to open multiple savings accounts, such as one for emergency savings, one for a new car, and one for a vacation. Separating money can help you visualize progress toward each goal. Some savings accounts let you organize your savings into separate buckets or “vaults” so you can save toward multiple goals within one account.
Savings accounts are relatively liquid, meaning you can access your money when you need it by transferring it into your checking account or withdrawing it at an ATM or through a teller at a local branch. That’s not true for many investments, which may take a few days to convert to cash. Some investment products, such as real estate properties, can potentially take months or years to sell off.
That makes a savings account an ideal spot for your emergency fund. When an unexpected expense comes up, you can access your funds immediately — and avoid running up expensive credit card debt — in order to cover it.
That said, the money is not quite as accessible as the money in a checking account. Savings accounts typically don’t come with checks and debit cards, and some banks limit the number of withdrawals you can make to six or nine per month. However, you might see these limitations as benefits, since they encourage saving rather than spending.
Recommended: Can You Write Checks From a Savings Account?
Savings accounts offer numerous benefits, including insurance on your deposits, higher APYs than checking accounts, and liquidity. Plus, you generally don’t need a large (or sometimes any) initial deposit to get started.
However, the interest you earn on a savings account may not always keep up with inflation, which means your balance could become less valuable over time. As a result, a savings account is generally not the best place to put the money you are saving for a long-term goal, such as retirement or your child’s college education. You might earn a better return if you invest that money in the market.
If you’re interested in opening a savings account, it’s a good idea to research your options and compare APYs, minimum deposits, balance requirements, and any fees. And if you have a savings account but aren’t satisfied with the perks, there’s likely a better fit for you offering the full benefits of a savings account.
Recommended: Perks of Long-Term Savings Accounts
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.60% APY on SoFi Checking and Savings.
The primary benefit of a savings account is that it allows you to grow your money over time (by earning interest), while still keeping it safe and accessible.
Advantages of savings account include:
• Earning Interest Savings accounts accrue interest on deposited funds, helping your money grow over time.
• Safety and security Funds in savings accounts are typically insured by the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA), providing protection against loss.
• Liquidity Savings accounts offer easy access to your funds, making them ideal for emergency savings.
Disadvantages of savings accounts include:
• Lower interest rates While savings accounts offer interest earnings, the rates are often lower compared to other investment options.
• Inflation risk Inflation may erode the purchasing power of your savings over time, especially if the interest earned does not keep pace with inflation rates.
• Fees and minimum balance requirements Some savings accounts may have fees or minimum balance requirements, potentially reducing the overall return on your savings.
Savings accounts can be most useful for storing your emergency funds and money you plan to spend in the next few months or years, since they pay interest while keeping your funds safe and accessible. However, returns on savings accounts are often lower than what you could potentially earn by investing in the market over time. That makes these accounts less useful for long-term savings goals like retirement or a child’s future college education.
Photo credit: iStock/PeopleImages
SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
SOBK-Q224-1855608-V1
Source: sofi.com
In addition to serving as the unofficial start to summer, Memorial Day weekend is also a major sale holiday. You can typically find Memorial Day sales across just about every category, from mattresses to major appliances to fashion. The holiday isn’t until May 27, but between spring savings events and early Memorial Day offers, there are already some solid early deals available.
Some of the best offers you can shop today include up to 50% off a new DreamCloud mattress, up to 30% off soft linens and loungewear at Cozy Earth and up to 60% off furniture at Burrow. Find additional info on these sales below, plus get answers about what to expect from this year’s Memorial Day sales.
Memorial Day is always the last Monday in May. This year, it falls on May 27.
We expect many of this year’s Memorial Day sales to kick off on Friday, May 24. Some sales will start even earlier in May, but retailers typically save their best offers for the official holiday weekend.
Memorial Day is typically a great time to save on big-ticket items like mattresses, patio furniture, major appliances and TVs. In recent years we’ve also seen more and more sales cropping up from fashion and beauty brands. Think of the holiday weekend as sort of a mini Black Friday where you can find deals across nearly all product categories.
Yes, Memorial Day is a great time to find discounts on appliances of all sizes. Retailers like Samsung, Lowe’s and The Home Depot typically host appliance sales over the long weekend. But if the appliance you’ve been eyeing isn’t discounted, don’t get discouraged; you’ll likely get an opportunity to save over July 4 or Labor Day.
Memorial Day clothing sales are fairly common. In the past we’ve seen discounts from retailers like Madewell, Rent The Runway, J.Crew and Abercrombie & Fitch.
Source: forbes.com
If you’re eyeing South Carolina for your college experience, you’re in for a treat. The Palmetto State is sprinkled with fantastic college towns each offering their own premier programs and student life.
So, whether you’re an academic eying the apartments in Clemson or a newly hired professor hunting for the perfect home in Spartanburg, the South Carolina college towns featured in this article have something for everyone. Grab your notebook and lace up your shoes, we’re going on a tour of some of the top college towns in South Carolina.
Population: 17,681 | Student population: 27,341 | Average 1-bedroom rent: $825
Clemson is synonymous with Clemson University, a powerhouse in engineering and business. The university’s innovative programs in automotive engineering draw students from around the world, fostering a tech-oriented atmosphere. The town thrives economically thanks to the university’s research initiatives and sports teams, which bring in visitors and create well-paying jobs.
The presence of Clemson University also influences local businesses, many of which cater to the student population. The sports scene is a major draw, significantly boosting the local economy during football season and creating a welcome influx of energy for those living in Clemson year-round.
Apartments near Clemson University | Houses for rent near Clemson University
Population: 136,632 | Student population: 35,471 | Average 1-bedroom rent: $1,107
Columbia is home to the University of South Carolina, renowned for its international business program and law school. The university shapes the town by being one of the top employers and playing a vital role in health sciences through its extensive medical facilities.
USC’s influence extends into the Columbia community through the Office of Community Engagement and Service Learning. This fosters a practical learning environment for students and supports local businesses by providing a steady stream of interns and work-ready graduates.
Apartments near University of South Carolina | Houses for rent near University of South Carolina
Population: 150,227 | Student population: 10,941 | Average 1-bedroom rent: $1,491
Charleston might be more known for its history, but the College of Charleston enhances this coastal town with top programs in marine biology and historic preservation. Its students contribute to local conservation efforts and heritage projects, which helps maintain the town’s historic charm and tourism appeal.
Economically, the college’s community engagement programs bolster local industries, especially in tourism and hospitality. In the summer, students often live in Charleston and work in local businesses and hotels, providing youthful energy and helping these enterprises thrive.
Apartments near College of Charleston | Houses for rent near College of Charleston
Population: 74,372 | Student population: 5,174 | Average 1-bedroom rent: $1,237
Home to Winthrop University, Rock Hill benefits from the school’s strong education and business programs. The university’s influence is evident in local schools where many Winthrop graduates teach and mold the next batch of Winthrop grads.
Winthrop’s impact on Rock Hill is significant as well, with the university being one of the largest employers in the area. Additionally, Winthrop’s arts programs keep a steady supply of talented creatives in the area.
Apartments near Winthrop University | Houses for rent near Winthrop University
Population: 70,720 | Student population: 2,463 | Average 1-bedroom rent: $1,290
Furman University is known for its liberal arts programs and absolutely stunning campus just outside Greenville. With help from the university’s Community Service Center, Furman students engage with the community through partnerships with local nonprofits and civic initiatives.
Greenville enjoys some economic benefits from Furman through its events and conferences that attract visitors from across the nation. The university’s presence also stimulates local businesses, ranging from cafes to bookstores, all frequented by students and faculty.
Apartments near Furman University | Houses for rent near Furman University
Population: 38,732 | Student population: 1,765 | Average 1-bedroom rent: $1,162
Spartanburg is home to Wofford College, a small liberal arts college known for its strong programs in government and international affairs. Wofford students often intern with local government agencies, nonprofits, and law offices, providing valuable services and fresh perspectives where they are needed most.
The town benefits economically from having multiple colleges, including Converse College and Spartanburg Methodist College, which contribute to a steady stream of events, visitors, and student spending to support local businesses.
Apartments near Wofford College | Houses for rent near Wofford College
Population: 24,849 | Student population: 10,473 | Average 1-bedroom rent: $955
Coastal Carolina University is a top-tier university for marine science and performing arts. The university’s coastal research influences local environmental policies and practices, helping to sustain the area’s ecosystem.
Additionally, the annual influx of students supports local businesses and contributes to a lively social scene, especially in the arts. Coastal Carolina’s performing arts programs frequently collaborate with local theaters and community groups.
Apartments near Coastal Carolina University | Houses for rent near Coastal Carolina University
College towns are qualified as towns or cities with at least one college or university and fewer than 175,000 people according to U.S. Census data. Average rental data from Rent.com in May 2024.
This is not a comprehensive list of all of the towns and cities in the state meeting those requirements.
Pending home sales are down and new listings are flat during a time of year when they typically rise. But this week’s softer-than-expected inflation report sent mortgage rates down, which could bring back some homebuyers and sellers.
Pending home sales fell 4.3% from a year earlier during the four weeks ending May 12, the biggest decline in roughly three months. They also posted a week-over-week decline, unusual for early May. Inventory is losing momentum, too, as would-be sellers stay put to hang onto their low mortgage rate. New listings rose 10% year over year, but they were essentially flat from a week earlier, which is significant because listings typically increase this time of year.
The housing market slumped because of sky-high housing costs. The median U.S. home-sale price is up 4.7% year over year to a record $386,951, and the median monthly mortgage payment is sitting at $2,858, just $26 shy of the all-time high set in April. But affordability is starting to improve a bit: Daily average mortgage rates have steadily declined since the start of May, and this week’s slightly softer-than-expected inflation report sent rates below 7% for the first time in over five weeks. And 6.3% of home sellers are dropping their price, on average, the highest share in a year and a half, which may mean price growth loses momentum soon.
“High prices and rates are challenging, but there are ways for buyers to take advantage of the somewhat slow market,” said Marsha McMahon-Jones, a Redfin Premier agent in Palm Springs, CA. “Sellers know that high mortgage rates mean they should expect negotiations, expect offers to come in under list price, and be ready for some back and forth on things like repairs and closing costs. Buyers may not be able to get a lower mortgage rate, but they’re often getting homes for slightly less than the asking price. It’s also a good time to buy a fixer-upper at a lower price point because those aren’t selling as quickly.”
For Redfin economists’ takes on the housing market, including how current financial events like the latest CPI report are impacting mortgage rates, please visit Redfin’s “From Our Economists” page.
Indicators of homebuying demand and activity | ||||
Value (if applicable) | Recent change | Year-over-year change | Source | |
Daily average 30-year fixed mortgage rate | 6.99% (May 15) | Down from a 5-month high of 7.52% three weeks earlier | Up from 6.55% | Mortgage News Daily |
Weekly average 30-year fixed mortgage rate | 7.09% (week ending May 9) | Down from 5-month high of 7.22% a week earlier | Up from 6.35% | Freddie Mac |
Mortgage-purchase applications (seasonally adjusted) | Declined 2% from a week earlier (as of week ending May 10) | Down 14% | Mortgage Bankers Association | |
Redfin Homebuyer Demand Index (seasonally adjusted) | Lowest level in 2 months (as of week ending May 12) | Down 13% | Redfin Homebuyer Demand Index, a measure of requests for tours and other homebuying services from Redfin agents | |
Touring activity | Up 5% from the start of the year (as of May 13) | At this time last year, it was up 21% from the start of 2023 | ShowingTime, a home touring technology company | |
Google searches for “home for sale” | Down 8% from a month earlier (as of May 13) | Down 15% | Google Trends |
U.S. highlights: Four weeks ending May 12, 2024
Redfin’s national metrics include data from 400+ U.S. metro areas, and is based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision. |
|||
Four weeks ending May 12, 2024 | Year-over-year change | Notes | |
Median sale price | $386,951 | 4.7% | All-time high |
Median asking price | $418,455 | 6.6% | All-time high |
Median monthly mortgage payment | $2,858 at a 7.09% mortgage rate | 12.7% | Just $26 below all-time high set during the 4 weeks ending April 28 |
Pending sales | 90,457 | -4.3% | Biggest decline since 4 weeks ending Feb. 25 |
New listings | 102,269 | 10% | |
Active listings | 890,224 | 14.2% | |
Months of supply | 3.2 | +0.5 pts. | 4 to 5 months of supply is considered balanced, with a lower number indicating seller’s market conditions. |
Share of homes off market in two weeks | 45.2% | Down from 49% | |
Median days on market | 33 | +2 days | |
Share of homes sold above list price | 30.8% | Down from 33% | |
Share of homes with a price drop | 6.3% | +2 pts. | Highest level since Nov. 2022 |
Average sale-to-list price ratio | 99.4% | Unchanged |
Metro-level highlights: Four weeks ending May 12, 2024 Redfin’s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy. |
|||
---|---|---|---|
Metros with biggest year-over-year increases | Metros with biggest year-over-year decreases |
Notes |
|
Median sale price | Detroit (18.8%)
Anaheim, CA (18.6%) West Palm Beach, FL (16.2%) San Jose, CA (13.6%) Newark, NJ (11.7%) |
San Antonio (-0.5%) |
Decreased in just 1 metro |
Pending sales | San Jose, CA (16.6%)
Anaheim, CA (9.2%) San Francisco (5.3%) Newark, NJ (5.2%) Sacramento, CA (3%) |
Phoenix (-14.9%)
Atlanta (-13.6%) Houston (-13.2%) West Palm Beach, FL (-11.8%) Nashville, TN (-11.1%) |
Increased in 12 metros |
New listings | San Jose, CA (40.2%)
Seattle (26.4%) Phoenix (24.7%) Oakland, CA (24.6%) Montgomery County, PA (21.9%) |
Chicago (-8.1%)
Atlanta (-3.4%) Detroit (-3.1%) Virginia Beach, VA (-1.9%) Newark, NJ (-1.6%) Warren, MI (-1.2%) |
Decreased in 6 metros |
Refer to our metrics definition page for explanations of all the metrics used in this report.
Source: redfin.com
Older voters in the battleground state of Pennsylvania are poised to make their presence — and preferences — felt in the upcoming fall elections that will determine control of the White House, the U.S. House of Representatives and the U.S. Senate. Chief on their minds are issues that include Social Security and aging in place.
This is according to a poll of voters within the state conducted by AARP Research, which tabulated survey data from voters ages 50 and older. The organization enlisted a “bipartisan polling team” from Fabrizio Ward (described as a Republican pollster) and Impact Research (described as Democratic) and got perspectives from roughly 1,400 voters across the state.
This included “a statewide representative sample of 600 likely voters, with an oversample of 470 likely voters 50-plus and an additional oversample of 328 Black likely voters 50-plus, between April 24–30, 2024,” AARP Research explained.
In addition to the insights into issues driving older voters’ preferences, AARP Research also found that “Pennsylvania voters 50 and older are the most committed age group for voting in the 2024 election and appear to be on track to be deciders” in the contest, according to the organization.
The top six issues isolated to voters 50 and older include Social Security (79%); Medicare (73%), aging in place (or “policies to help seniors live independently at home as they age, 68%); utility costs (67%) and housing (59%).
For those that named aging in place as a concern, 37% of respondents described it as “extremely important,” while 34% said it was “very important.” That’s only 2% to 3% lower than the split for the Medicare issue, according to the survey.
Sixty-three percent of older voters also said they were “very worried” about their own personal financial situation, with older women (69%) more concerned than older men (59%). Republican voters found themselves more worried (73%) about it than Democratic voters (51%).
In terms of candidate preferences, voters in Pennsylvania stated they are more likely to support former President Donald Trump over President Joe Biden on both a full ballot that includes certain third-party candidates (46% to 41%) and on a direct two-way ballot (49% to 45%).
“Trump is ahead in large part due to more consolidated support from Republicans than Biden is getting from Democrats, while Trump also has a slight edge with Independents,” the report explains. “There are large gender, race, education, and regional differences in [the] planned 2024 vote for president.”
According to research from Penn State Harrisburg released in 2017, “the elderly population’s (age 65 and over) growth occurred at [a] rate over 20 times that of the state’s general population — an increase by 16.3 percent from 2010 to 2017.”
Source: housingwire.com
After three years of relative inaction, shares of GameStop, the video game retailer, surged in May 2024 after an influential trader posted to social media for the first time in several years. Roaring Kitty, the online moniker of Keith Gill, whose own posts about GameStop helped inspire the meme-stock movement of 2021, posted an image of a man leaning forward, a popular meme among gamers signifying “things are getting serious.”
Since then, the retailer’s stock price has rallied, renewing interest in GameStop as well as a number of other so-called “meme stocks,” including AMC, Koss Corp., and BlackBerry. Gill’s profile initially rose in 2021 in the midst of day traders organizing on Reddit to “squeeze” GameStop short sellers.
A short squeeze is an orchestrated effort to drive up shares of a stock that’s being shorted. In this highly risky maneuver, short sellers are essentially forced to try to exit their bearish position quickly in order to minimize losses amidst the dramatic surge in the share price. Read on to learn everything you need to know about short squeezes.
Key Points
• A short squeeze may occur when short sellers rapidly close their positions, which can help drive up a stock’s price.
• This typically follows a sudden increase in a stock’s price, prompting a rush among those shorting the stock to “cover” or close their position.
• Short sellers buying back shares to close their positions further drives up the stock price.
• Benefits of investing in REITs include tax advantages, tangibility of assets, and relative liquidity compared to owning physical properties.
• Short selling poses extreme risks, with the potential for dramatic — and potentially unlimited — osses.
As mentioned, a short squeeze is an event in the market that involves short sellers having to quickly close out their positions. Because these investors have to actually buy back shares they’ve lent out, this may drive dramatic gains in the share price.
There are many investors, both retail and institutional, who use short selling to bet that a given stock will go down over a fixed period of time. But short selling is incredibly risky as stock prices have historically tended to drift upward. And timing a bearish position can also be picky. Even if an investor has good reason to believe that a company’s shares will fall, it could be some time before they actually do.
To understand how short squeezes occur, we first have to understand how shorting a stock works. To sell a stock short, an investor must first borrow the shares. They then consequently sell in the open market. At an agreed-upon time, the investor will buy back the shares in order to return them to the original lender.
If the stock goes down between the time they borrow the stock and when they return it the investor makes money. That’s because they pocket the difference between what they sold the stock for and what they purchased it for when it came time to return it.
And if those short investors borrow a stock that goes up instead of down, they lose money.
Let’s look at a hypothetical case of a short sale. Let’s say an investor borrows a stock that’s trading at $10 with an agreement to pay back the shares in 90 days.
The investor then sells the stock for $10. Then 90 days later, if the stock is trading at $5, they can buy back the number of shares they borrowed and return them to the lender, capturing the $5 per share profit (often minus interest and fees).
Now, let’s use this example to look at a short squeeze. Let’s say the investor borrows the stock again that’s trading at $10 with an agreement to pay back the shares in 90 days.
This time however, the share price shoots up to $15. The investor still has to buy the shares they borrowed and return them to the lender. But other investors are also trying to cover their shorts as well, so there’s a shortage of shares in the market to buy back.
The shortage causes the stock’s price to jump even higher to $20, which in turn triggers other short sellers to close their positions. They have to now also purchase back shares, and hence a buying frenzy and short squeeze occurs.
Theoretically, there’s no limit to how much money short sellers can lose. When an investor is long a stock but wrong, the share prices can only go down as low as $0. But when an investor is short and wrong, the share prices can go infinitely higher, making it possible losses can be limitless for the short-selling investor.
Recommended: How Low Can a Stock Go?
One famous example of a short squeeze was that of GameStop, which first occurred in 2021, when electronics retailer GameStop saw its shares jump more than 1,000% in a few weeks as a wide range of investors looked to take advantage of the high number of short sellers in the stock. This was perhaps one of the most well-known “meme stock phenomena” that overtook the market that year, but it wasn’t the only one. Shares of AMC, Bed Bath & Beyond, Koss Corp., and other company’s stocks spiked upward during the meme-stock frenzy that year.
Another example occurred in 2008, when automaker Volkswagen briefly became the world’s most valuable stock by market cap when it became known that Porsche was increasing its stake in its fellow German carmaker.
By contrast, a long squeeze is when short sellers drive down the price of a stock or asset until the bullish investors begin to sell their positions in response, driving the price lower still. It can be helpful to review short positions vs long positions to get a deeper understanding of a long squeeze.
💡 Quick Tip: When you’re actively investing in stocks, it’s important to ask what types of fees you might have to pay. For example, brokers may charge a flat fee for trading stocks, or require some commission for every trade. Taking the time to manage investment costs can be beneficial over the long term.
The “MOASS” is an acronym for the “Mother of all short squeezes.” And it’s more or less exactly what it sounds like: A monstrous short squeeze event in the market.
The short squeeze involving GameStop shares in 2021 is perhaps the best and most recent example of a MOASS, though companies such as AMC and Koss Corp., mentioned above, experienced similar phenomena at the time. Many institutional investors had shorted GameStop stock, anticipating that its value would fall, but groups of day traders worked together to drive up demand of the stock, and its value. This “squeezed” the short sellers, and caused many big firms to lose significant amounts of money on their positions.
Given the chance for dramatic returns, many investors have taken an interest in getting in on the winning side of a short squeeze.
To invest in a short squeeze, traders start by surveying the markets for stocks that have garnered substantial interest from short sellers. This factor is often called “short interest,” and as a metric, it represents the number of a company’s shares that have been sold short, but not yet returned to the lender. Traders know that the short sellers of all those shares will have to buy back shares — at any price — to return them to the lender.
There are two ways to understand short interest. One is short interest percentage, which shows how many of a company’s overall shares are currently shorted. A higher number means that more short sellers will be bidding up the stock to buy it back. The second metric is short interest ratio, which shows how much short sellers are responsible for a stock’s daily trading volume. A higher ratio means it’s likely that short sellers will help drive up the stock’s price once it starts to rise.
Another key metric has to do with when the short sellers will have to deliver those shares to the lender. It’s known as “days to cover,” and it’s the ratio comparing the total short-selling interest in a stock with the average daily shares that trade. As a metric, it gives traders a sense of how long until short sellers buy back the stocks they borrowed for their short positions.
Stocks with a high short-interest number and a high days-to-cover number are vulnerable to a short squeeze. Once these traders find stocks that seem like short-squeeze candidates, they buy the stocks outright, and watch those key metrics, along with the news, to decide when to sell. Short squeezes can make a stock shoot up, but those returns often evaporate quickly.
As discussed, shorting typically involves borrowing shares to create tenable positions. Naked shorts, often involving naked options, are a type of short selling, but it involves not borrowing, or otherwise securing possession of, shares before making a trade or taking a short position. This leaves the trader “naked” in the event that a trade goes south.
While short squeeze investments can produce eye-popping returns in the short term, they come with real risks for individual investors, and institutions.
For investors, perhaps the biggest risk of a short squeeze is that they’ll get caught on the wrong side of one, and lose some money. Obviously, that’s a risk for institutions as well, but individual investors likely don’t have as many resources on hand to try and recover.
Similarly, investors may misread the room — that is, not quite understand what’s happening in the market, and misjudge their position. They’ll also need to be vigilant in watching their positions to make sure they change those positions at the right time.
Most of the risks involved with short squeezes for individual investors hold true for institutions, too.
For instance, the risks involved with stocks themselves include the fact that stocks with a high short-interest number may be undervalued or misunderstood, or they may simply be failing businesses. And if there is no good news, or market interest, they may continue to sink.
At the same time, the price increases caused by short squeezes are short-lived. Once the short-sellers have paid back their lenders, the market runs out of buyers who will pay any price for that stock. And the share prices often fall as quickly as they rose. The danger to traders in a short squeeze is that they’ll get in too late and stay in too long and lose money.
Long-term investors may try their hands at winning a short-squeeze trade here and there. But it requires deep research, constant monitoring and the ability to move in and out of a stock quickly — something that institutions may have access to more so than individuals.
A short squeeze is a market event in which investors inadvertently bid up the price of a heavily shorted stock, while trying to get out of their bearish positions. In order to buy the stocks that investors borrow to sell short, those investors must buy the stock at ever-increasing values.
Short squeezes involving short positions and financial derivatives are relatively high-level concepts and may involve a skilled hand in navigating. For that reason, it may be worth discussing them, and their risks, with a financial professional.
Ready to invest in your goals? It’s easy to get started when you open an investment account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), mutual funds, alternative funds, and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).
Invest with as little as $5 with a SoFi Active Investing account.
Short squeezes are a natural occurrence in the stock market, but market manipulation is illegal. As the SEC says, “abusive short sale practices are illegal,” and that may play into short squeezes. As such, it’s a gray area.
While the Volkswagen short squeeze in 2008 was one of the largest of all time, the 2021 short squeezes of GameStop, along with AMC, Koss, and others, were, perhaps, some of the most dramatic and notable short squeezes in history.
Theoretically, there is no limit on how high a stock can go, and accordingly, how high a short squeeze can go.
SoFi Invest®
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below:
Individual customer accounts may be subject to the terms applicable to one or more of these platforms.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA (www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Disclaimer: The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.
Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire amount invested in a short period of time. Before an investor begins trading options they should familiarize themselves with the Characteristics and Risks of Standardized Options . Tax considerations with options transactions are unique, investors should consult with their tax advisor to understand the impact to their taxes.
Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Claw Promotion: Customer must fund their Active Invest account with at least $25 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
SOIN-Q224-1884883-V1
Source: sofi.com
“You’re just focusing on different things than working a file, and that thing [could be] getting out in your community or focusing on a new growth area. Maybe get out of your tri-county area and focus on someone that’s not being served in a helpful way.” How brokers can gear up their business for busier … [Read more…]