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Apache is functioning normally

Apache is functioning normally

In the United States, it’s illegal to drive a car without car insurance. Depending on the state you’re driving in, the consequences of doing so can range from a fine to a misdemeanor on your record. So, if you’re planning on hitting the road anytime soon, be sure to purchase car insurance to avoid penalties. 

In this article, we’ve researched the average cost of car insurance by state to give you a better idea of how much to budget.  

Key findings: 

  • According to AAA, the national average cost of car insurance for a full-coverage policy was $1,588 in 2022.
  • On average, the cheapest states for full coverage car insurance are Ohio, Maine and Idaho, while the most expensive states are Florida, Louisiana and Michigan. 
  • USAA, Geico and State Farm offer the cheapest minimum coverage plans, while USAA, Geico and Nationwide offer the cheapest full-coverage insurance. 
  • The average cost of car insurance tends to decrease with age, but starts to rise again around age 70. 
  • Individuals with high credit scores pay lower car insurance premiums on average compared to those with poor credit. 

How much is car insurance?

According to AAA, the national average cost of car insurance for a full-coverage policy was $1,588 in 2022. This figure is based on an under 65 years old driver who lives in the city or suburbs, has over six years of driving experience, and has not been involved in any accidents. 

Average cost of car insurance by state

When calculating the cost of car insurance, the state you live in plays a role in how much you can expect to pay. This is because factors like population density, climate, road conditions and crime rate in your area can play a part in the likelihood that you’ll file a claim.  

According to insurance.com, the cheapest states for car insurance if you’re looking for minimum coverage are Iowa, South Dakota and Wyoming costing an average of $263, $267, and $293, respectively. Meanwhile, the cheapest states for full coverage auto insurance are Ohio ($1,023), Maine ($1,116), and Idaho ($1,121). 

The most expensive states for car insurance in terms of minimum coverage are New Jersey, Florida, and New York where drivers pay an average of $989, $908 and $875, respectively. For full coverage insurance, drivers in Florida ($2,560), Louisiana ($2,546), and Delaware ($2,137) pay the most in the country on average. 

State

Minimum coverage

Full coverage

AK

$336

$1,359

AL

$420

$1,542

AR

$422

$1,597

AZ

$494

$1,617

CA

$582

$2,115

CO

$467

$1,940

CT

$773

$1,750

DE

$821

$2,137

FL

$908

$2,560

GA

$567

$1,647

HI

$389

$1,306

IA

$263

$1,321

ID

$326

$1,121

IL

$484

$1,578

IN

$384

$1,256

KS

$389

$1,594

KY

$717

$2,105

LA

$726

$2,546

MA

$523

$1,538

MD

$607

$1,640

ME

$330

$1,116

MI

$711

$2,133

MN

$479

$1,493

MO

$525

$2,104

MS

$434

$1,606

MT

$389

$1,692

NC

$396

$1,368

ND

$340

$1,419

NE

$350

$2,018

NH

$411

$1,307

NJ

$989

$1,901

NM

$376

$1,505

NV

$683

$2,023

NY

$875

$2,020

OH

$308

$1,023

OK

$352

$1,797

OR

$551

$1,244

PA

$398

$1,445

RI

$648

$1,845

SC

$628

$1,894

SD

$267

$1,581

TN

$368

$1,373

TX

$520

$1,875

UT

$526

$1,469

VA

$469

$1,321

VT

$306

$1,158

WA

$505

$1,371

WI

$375

$1,499

WV

$474

$1,610

WY

$293

$1,736

Average cost of insurance by company 

Another factor that’s going to influence how much you can expect to pay for car insurance is the specific company you purchase your plan through.  

According to U.S. News & World Report, USAA, Geico and State Farm offer the cheapest minimum coverage plans, while USAA, Geico, and Nationwide offer the least-expensive full-coverage insurance. 

Farmers, Progressive, and Nationwide offer the most expensive minimum coverage rates while Allstate, Farmers, and Progressive offer the most expensive full coverage plans. 

Insurance company

Minimum coverage

Full coverage

Allstate

$1,961

$2,138

American Family

$1,327

$1,388

Farmers

$1,782

$2,059

Geico

$1,064

$1,238

Nationwide

$1,347

$1,338

Progressive

$1,440

$1,650

State Farm

$1,191

$1,348

Travelers

$1,290

$1,448

USAA

$948

$1,056

Average cost of insurance by age 

According to CarInsurance.com, the cost of both minimum and full coverage car insurance tends to decrease with age, as seen in the chart below. However, there is an uptick around age 70 where rates start to go back up.  

Age

Minimum coverage

Full coverage

20

$1,109

$3,532

30

$539

$1,785

40

$520

$1,682

50

$496

$1,581

60

$482

$1,511

70

$554

$1,661

Average cost of insurance for young drivers

Young drivers are the most expensive age group to insure. Although there are a few exceptions, insurance rates decrease with age among young drivers. 

Age

Minimum coverage

Full coverage

16

$2,402

$7,203

17

$1,971

$5,924

18

$1,706

$5,242

19

$1,234

$3,874

20

$1,109

$3,532

21

$884

$2,864

22

$794

$2,593

23

$736

$2,415

24

$690

$2,267

Average cost of insurance by credit score 

According to the Insurance Information Institute, your credit score is a good indicator of how many insurance claims you’ll file. As a result, insurance companies use credit scores to determine risk, and those with a good credit score pay cheaper premiums. The Zebra found that individuals with poor credit pay approximately 114% more than those with great credit. 

Credit score

Average annual rate

Very poor (300-579)

$2,887

Average (580-669)

$2,296

Good (670-739)

$1,912

Excellent (740-799)

$1,606

Exceptional (800-850)

$1,350

What factors affect your car insurance rate?

As you can see from the above charts, the cost of car insurance varies by the following factors: 

  • Age: Typically, young drivers under the age of 25 and senior drivers over the age of 65 are charged more for car insurance. 
  • State of residence: Since the minimum coverage required varies by state, your location is one of the factors that will influence the price. 
  • ZIP code: In addition to your state of residence, your ZIP code will also play a role in the cost of insurance since your vehicle is more likely to be damaged in certain areas, such as ZIP codes with high crime rates. Typically, the cost of car insurance will be greater in cities than in rural areas. 
  • Marital status: Statistically, married drivers are less risky than single drivers resulting in a lower insurance cost. 
  • Gender: Based on risk, male teenage drivers tend to have the highest cost of car insurance of any demographic. 
  • Credit history: Those with a low credit score tend to pay higher premiums than individuals with good credit. 
  • Driving record: Since car insurance premiums are based on risk, individuals with a good driving record can expect to pay lower premiums, while those with a poor driving record may experience increased rates. 
  • Car make and model: You may pay less if you drive a vehicle that insurance companies deem safe. On the other hand, you’re likely to pay more if you drive a small sports car since they pose a higher risk. 
  • Mileage: Higher annual mileage increases the risk you’ll get into an accident and will likely raise your premiums. 
  • High-risk violations: Driving under the influence and at-fault accidents are examples of violations that may result in you being considered a high-risk driver. 

What’s the difference between full and minimum coverage? 

Minimum coverage car insurance — liability coverage — is required in most states and is used if you’re at fault in an accident. This coverage will pay for damages and injuries of the other party when you’re responsible for the incident. 

On the other hand, full coverage insurance, or collision coverage, includes liability coverage plus damage caused to your own vehicle. Keep in mind that lenders often require you to obtain full coverage insurance before you get an auto loan. 

FAQ

Below, we’ve answered some common questions regarding the cost of auto insurance. 

Can my driving record affect my car insurance rate? 

Your driving record is one of the factors that affects your car insurance rate. As a result, those with traffic violations or accidents on their record can expect to pay higher premiums. 

Does your car insurance cost go down after you pay off your car?

Your care insurance cost doesn’t typically go down after your pay off your car. However, you do have the option to decrease the amount of coverage on your vehicle once it’s paid off. 

Which car insurance company is the cheapest?

As mentioned above, insurance companies that offer the cheapest plans include Geico, Auto-Owners, USAA and Erie.

Does car insurance decrease annually? 

For young drivers in particular, car insurance rates decrease each year you renew your policy without filing a claim. You can expect to see the biggest drop in price at age 25. 

The average cost of car insurance varies by factors including state, age, insurance company and credit score. Some factors, such as your age, are beyond your control, but other factors, such as your credit score, can be improved. 

Check your credit score for free today to see if it’s a reason your car insurance is high. 

Source: credit.com

Apache is functioning normally

This post originally appeared on The Financially Independent Millennial and has been republished with permission.

Okay, so you’re tired of puttering along in that same 1996 Honda Civic with which you picked up your Homecoming date during your senior year of high school. How do you even begin? No doubt, you’ll have questions to ask when buying a used car. Well, first, you need to narrow it down to which car you want, what options you want/can live without, your budget, etc. Once you’ve gotten that down and have taken a few cards for a spin, it’s time to get down to business. 

I bought my first car just about ten years ago and have bought and sold seven cars within that time frame. Except for one, I made a profit off every single one of them. For example, My INFINITI G37 just stole my heart. I got such a good deal on it (I bought it for $4,700 under dealer internet price) that I made the conscious decision to take a loss by keeping it longer and thus having to deal with depreciation.

However, it never needed any maintenance for the six years I had it other than $40 oil changes periodically. So, considering all costs (parking, annual registration, gas, car insurance, and depreciation), the car probably cost me $150 per month over those six years. That’s well below what some friends spent on the luxury of ride-sharing.

What to Ask When Buying a New Car

When you’re ready to buy a used car, you want to come armed with questions. Ensure you’re informed, and then you come across as a knowledgeable buyer and ward off any unscrupulous sales tactics.

#7. When Is the Best Time to Buy a Used Car? 

We’ve all seen those charts on the best time to buy everything from winter apparel to laptops. But did you know there is a sweet spot for buying cars, as well? Buying towards the end of the month and even the end of the year is your best bet. Why? Because dealerships have quotas to meet, salespeople are hungry to get one last commission for their paycheck. 

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As far as the end of the month, most dealerships close the books, project that month’s sales amounts, and try to move inventory to keep the interest fresh. You may know that when new models come out and leases get returned, the used car market is usually more flexible, which means more selection and a better price for you. 

If you’re daring, go into the dealership on a Sunday evening during unpleasant weather when they’re hungry to meet quotas. If you’re paying cash, and you’re there with money in hand, they’re much more likely to get you a good deal. Make sure you come with evidence of comparable models elsewhere.

#6. Why Is Buying Used Better Than New? 

While many people justify their decision to buy new as having a more reliable vehicle and spending less on repairs than an older car, cars have markedly improved their dependability over the last 10-15 years. 

Plus, many online tools help you with price transparency, find service records, and owner/expert reviews. You’ll find anything you want to know about the car you’re considering over the last decade. 

According to a recent report, new cars lose up to 20% of their value after the first year. And then they depreciate more than HALF their value after five years. On a $32,000 car, that’s almost a $7,000 hit after just a year of driving! On the other hand, you can easily buy a car that’s just a few years old and let someone else take the depreciation hit. 

Besides houses, cars are generally the most expensive purchases you’ll make. Buying used enables you to strategically get a reliable vehicle that can last you years without breaking the bank. My neighbor once bought a 4-year-old Honda Accord for $12,000 and still drives it ten years and 90,000 miles on the odometer later!

#5. Why Is Buying Better Than Leasing?

According to Consumer Reports’ comparison for buying versus leasing, the average cost of a new car has now topped $38,000. You might think to yourself, “I don’t have $38,000 laying around!” Well, take a step back and a deep breath, realizing this is average. Meaning, you can easily find cars for less than this amount. Plus, just another reason to look at a mint used car! 

Leases can be appealing because they enable the consumer to drive a new car for a monthly lease payment. Lenders are happy to collect the interest! And then, you return the vehicle at the end of the lease without worrying about maintenance or repairs. Leasing is ideal for people who like to have the newest car (and can afford it) or deduct leasing expenses like realtors. And yes, if you’re wondering about this question, you can lease a used car as well. However, there are mileage limits, and if you lose your job or have a child, you typically can’t just hand the keys back without penalty.

Buying a car means you can drive it freely and have something of value that you can sell when the need arises. With leasing a vehicle, you typically have to either return it, have nothing at the end of the lease, or pay off the car at an agreed-upon amount when you lease the vehicle. For these reasons, buying a car is the best option for most people. 

#4. How Many Miles Should a Used Car Have?

Congratulations, we’ve convinced you to buy used! Well, hopefully, you’re empowered to ask questions and find and buy a quality used car, over lining the dealership’s pockets with a new one. Mileage is an essential factor to consider, and the lower mileage, the better. Think about it, cars don’t run forever. So, there’s a cap on mileage before the vehicle is pretty much worthless. (though if you want to see some impressive machines with millions, yes millions of miles, check out this car.)

Most people drive about 10-12,000 miles per year. And with ever-changing technology, it might be best to keep it under 100,000 if you plan to keep the car for a while. After 100,000 miles, more expensive servicing like timing belt change, transmission replacement, and electrical repairs come along. 

Consumers who question a used car’s value can turn to The Kelley blue book as an excellent resource when buying or selling. I have found that buying cars with low-mileage, i.e., under 30,000, is the sweet spot if you can snag a good deal because it still feels new. These cars usually come with the balance of a new or extended warranty and yet have decent value locked in. Bonus points if you flip it a year later for a profit as I did! 

#3. What Are the Benefits of Buying a Used Car from a Dealer?

You can compare buying a certified pre-owned (aka used car) from a dealer instead of a private party to purchasing a laptop from the store versus a seller on Amazon. You typically get more hand-holding and a concierge process with inspection of the car, service and registration assistance, etc. Yet, that comes with a price. 

Buying a used car from a dealer means there’s no question: they have to stand behind that car and not sell you a lemon because their reputation lies on that. So, peace of mind is a big plus when it comes to buying from a dealer. Also, you can typically find more variety in what you want and have someone reach out to you when they get something closer to what you’re looking for. You can also negotiate free service for a year, a multi-point inspection, printouts of service records, and things like replacing the tires at a reduced cost. Moreover, suppose haggling, negotiations, or dealing with salespeople make your stomach churn. In that case, you can always pay a slight premium for peace of mind by using a service like Carvana or Carmax.

Buying from a dealer can also help you make sure you get your title and tag done correctly. One thing to look out for is some dealerships charge a Dealer or “Document Preparation” fee, which can be hundreds of dollars in some states. Be sure to understand what value they’re providing for that fee and where it goes. Few waive them and even charge their employees that fee.

#2. What Are the Benefits of Buying a Used Car Privately?

How do you save the MOST amount of money when buying a car? Well, you buy a pre-owned vehicle that already got whacked with depreciation and cut out the middleman. By middleman, I mean the dealership. 

Now, you read about the perks of buying through a dealer and all the peace of mind it brings. So, why bother dealing with the hassle and uncertainty of a private party? Well, the significant cost savings, of course! There’s no dealer doc prep fee, no markups to pay for payroll or overhead, and no burdensome certification process. Buying a used car privately gives you the best chance of getting a great deal if you ask the right questions.

In simpler times, a handshake and trust were all we had to go off before things like CARFAX reports and AutoCheck. When you find a private seller, you can find out the vehicle history. For example, if they were the original owner, who drove the car, why they bought it, and how it’s been treated over the years. Also, you’ll have to make sure they have the title free and clear. Otherwise, you’ll want to go to the bank and have them call the company that holds the title to make sure the loan gets paid off before any other money changes hands.

 #1. What Are the Best Ways to Find a Used Car?

Now how do you go about finding a used car? There are many more online tools at our disposal than ever before. Do you remember the times when you would flip to the classified section of the newspaper to find boxes of 6 point font describing a car for sale? Or you saw a car parked on the road with a “For Sale” sign? How times have changed.

Now, you can easily find any car you want online, know everything about it, see high-resolution pictures of its every angle. And you don’t even have to limit yourself to your geographic area!  

The thing to know is most private-party sellers will usually try to sell their car for free or cheaply. So, be sure to start your search by scanning Craigslist, Cars.com, and Facebook Marketplace. 

Now, if you’re looking to expand your search across the state or nation, check out cars.com, Cargurus.com, and Truecar.com. All of these sites provide decent vehicle descriptions and history, such as accident reports. 

Cars.com has a very user-friendly interface and easy navigation filters for color, features, cloth/leather, etc. It also has a price analysis tool to let you know if that particular car is a “good” or “great price” as compared to other vehicles for sale.

CarGurus is also user-friendly and has a similar price comparison tool. Also, it’s got a cool little “negotiation” section in the description. It tells you how long the car has been on the market and its different price changes. It can give you a glimpse of how motivated the dealer is to get rid of the vehicle. I love CarGurus because it answers the most basic questions I’d ask about the used car I’m thinking about buying.

Finally, TrueCar has a unique pricing analytics report that will tell you what you can expect to pay based on what similar vehicles have sold for. They also can offer a unique “personalized offer” on a car, which might be lower than other sites, in exchange for inputting your contact information. It might be an easy trade to shave a few hundred off your car purchase!

Final Thoughts about Buying A Used Car

Consumers looking to buy a used car certainly have to ask a lot more questions than when buying new. But, the extra work will save them thousands in unnecessary depreciation. The key is to do your homework and get the car inspected. That way, you’ll come out ahead by knowing the car’s history. And don’t be afraid (ever) to walk away from a bad deal!

Source: credit.com

Apache is functioning normally

Apache is functioning normally

We maintain our forecast for a modest economic contraction in the first half of 2024. Fundamentally, personal consumption remains at what we believe to be an unsustainable level relative to incomes, and the full effects of monetary policy tightening are still working through the economy. We have upgraded our 2023 real GDP growth outlook to 2.2 percent from 1.9 percent on a Q4/Q4 basis largely due to incoming July data, while our forecast for growth in 2024 is unchanged. Meanwhile, we forecast the topline and core measures of the Consumer Price Index (CPI) to end the year around 3.1 percent and 4.0 percent in 2023, respectively, slowing further in 2024 to 2.4 percent and 2.5 percent.

With the jump in mortgage rates to above 7 percent, the housing market faces renewed headwinds. Mortgage origination activity has slowed further in recent weeks and total home sales remain at levels not seen since 2011. The new home market, which showed surprising strength over the first half of 2023, due in part to a limited inventory of existing homes for sale, may now be taking a breather. We forecast total home sales to be around 4.8 million in 2023, which would be the slowest annual pace since 2011 and 4.9 million in 2024. Similarly, our expectation for 2023 mortgage originations was downgraded from $1.60 trillion to $1.56 trillion in 2023 and from $1.92 trillion to $1.88 trillion in 2024.

Q3 GDP Growth Poised to Accelerate, but Strength is Likely Temporary
The third quarter started off on a strong note, with real personal consumption jumping 0.6 percent month over month in July, pointing to a stronger Q3 2023 GDP growth figure than previously anticipated. Even if personal consumption expenditures were to remain flat over the next two months, July’s growth alone would translate into a pace of personal consumption over the quarter of around 3.8 percent annualized. However, this surge in spending is likely unsustainable and our outlook is for decelerating activity. We believe much of the July consumption was the result of pulling forward future spending in part due to a combination of the release of popular movies and concerts as well as an increase in spending on energy during the July heat waves, and perhaps due to seasonal timing related to online retailer sales. Both recent credit card transaction data and auto sales data point to a likely pullback in consumption in August, with auto sales falling 4.6 percent month over month. August nominal retail sales jumped by 0.6 percent, but this was almost entirely due to price increases in gasoline. Control group retail sales, which feed into the GDP report, rose by only 0.1 percent in nominal terms, suggesting flat or slightly declining real sales. Furthermore, the 0.6 percent pop in real consumption in July came despite a decline of 0.2 percent in real disposable income, increasing the divergence between the two series. Recent spending growth has come via a further reduction in the already below-trend personal saving rate to 3.5 percent in July. This was down from 4.3 percent in June and around an average of 8.0 percent from 2017 to 2019. Especially when accounting for an expected deceleration in wage growth, we expect more modest consumer spending growth in coming quarters.

Refinance Application-Level Index (RALI), remains depressed given that mortgage rates remain above the 7 percent level.

Economic & Strategic Research (ESR) Group
September 14, 2023
For a snapshot of macroeconomic and housing data between the monthly forecasts, please read ESR’s Economic and Housing Weekly Notes.

Data sources for charts: Bureau of Economic Analysis, Bureau of Labor Statistics, Mortgage Bankers Association, National Association of REALTORS®, Fannie Mae

Opinions, analyses, estimates, forecasts and other views of Fannie Mae’s Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR group bases its opinions, analyses, estimates, forecasts and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts and other views published by the ESR group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

ESR Macroeconomic Forecast Team

  • Doug Duncan, SVP and Chief Economist
  • Mark Palim, VP and Deputy Chief Economist
  • Eric Brescia, Economics Manager
  • Nick Embrey, Economist
  • Nathaniel Drake, Economic Analyst
  • Richard Goyette, Economic Analyst

Source: fanniemae.com

Apache is functioning normally

Apache is functioning normally

According to the latest report by IMARC Group, titled “Japan Home Decor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” provides an extensive analysis of the industry, including Japan home decor market size, share, trends, and growth opportunities. The report also covers competitor and regional analysis and the latest advancements in the market. The Japan home decor market is projected to exhibit a growth rate (CAGR) of 4% during 2023-2028.

Japan Home Decor Market Overview:

Home decor encompasses the art of enhancing the interior of a living space to create a visually pleasing and functional environment. It involves many elements, including furniture, color schemes, lighting, textiles, and decorative accessories. It reflects personal style, culture, and lifestyle preferences, transforming a house into a welcoming and comfortable home. It allows individuals to express their creativity and individuality while influencing the atmosphere and mood of each room. Whether minimalist and modern, cozy and rustic, or eclectic and vibrant, home decor plays a pivotal role in shaping the ambiance and character of living spaces, making them uniquely tailored to the needs and tastes of the inhabitants.

Get Sample Copy of Report at – https://www.imarcgroup.com/japan-home-decor-market/requestsample

Japan Home Decor Market Growth:

The market in Japan is majorly driven by the increasing importance of aesthetics and personalization in interior design. In line with this, the rising desire to create comfortable and stylish homes has become a significant driver of market growth. Furthermore, the rise of e-commerce and online interior design platforms has made home decor more accessible, allowing consumers to explore a vast range of options and styles conveniently. Besides, the changing lifestyles, such as remote work and the desire for versatile living spaces, have spurred demand for functional and adaptable home decor solutions. Moreover, sustainability is gaining prominence in the home decor industry, with eco-friendly and ethically sourced products becoming more appealing to environmentally conscious consumers. Additionally, the COVID-19 pandemic increased time spent at home, prompting many individuals to reevaluate and upgrade their living spaces, further boosting the market.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/japan-home-decor-market

Key Market Segmentation:

Product Type Insights:

  • Home Furniture
  • Home Textiles
  • Flooring
  • Wall Decor
  • Lighting
  • Others

Distribution Channel Insights:

  • Home Decor Stores
  • Supermarkets and Hypermarkets
  • Online Store
  • Gift Shops
  • Others

Breakup by Region:

  • Kanto Region
  • Kinki Region
  • Central/ Chubu Region
  • Kyushu-Okinawa Region
  • Tohoku Region
  • Chugoku Region
  • Hokkaido Region
  • Shikoku Region

Competitive Landscape:

The report also examines the competitive landscape within the market and offers comprehensive profiles of major key players.

Key Highlights of the Report:

  • Market Performance
  • Market Outlook
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

The post Japan Home Decor Market Size, Share, Price, Current Trends, Growth Factors, Analysis & Forecast Report [2023-2028] appeared first on Super Market Research.

COMTEX_440427738/2607/2023-09-18T05:48:36

Source: benzinga.com

Apache is functioning normally

Apache is functioning normally

VA disability pay rates in 2023 range between $165.92 to $4,295.92 a month. The Department of Veterans Affairs (VA) publishes the rates annually. The severity of the disability and family circumstances can affect the rate. A claim takes 104.1 days on average to complete

.

The veterans disability compensation programs gives qualifying veterans a tax-free monthly payment to help them financially

. The program supports veterans who were disabled or had a condition that was made worse during military service.

Here’s how veterans disability payments are calculated, how to determine how much you might receive in benefits and how to apply for VA disability.

How are VA disability compensation rates calculated?

The VA calculates a veteran’s disability payment by considering three factors:

  1. The severity of the veteran’s disability.

  2. The number and types of dependents the veteran has.

  3. Whether a family member qualifies for Aid and Attendance benefits.

VA disability payments start with a base rate, which rises with the severity of the disability and the types of dependents

. The VA then adds extra money to the base rate if the person’s spouse qualifies for Aid and Attendance benefits, or if the veteran has multiple dependent children.

Severity of the disability

The VA assigns a disability rating to a veteran after reviewing evidence submitted as part of the benefits application or from military records. The VA requires applicants who don’t have enough medical evidence to support their claims to have a compensation and pension exam — sometimes referred to as a C&P

. This exam confirms that a disability is related to military service.

Disability ratings are assigned as percentages. Specifically, disability ratings rise in 10% increments up to 100% (fully disabled). The percentage represents how much the disability decreases the veteran’s overall health and ability to function.

🤓Nerdy Tip

Veterans who have more than one qualifying disability get a combined disability rating. This rating is not as simple as adding the disability percentages together. For example if a veteran has one disability rated at 50% and a second disability rated at 30%, the combined rating is not 80%. The VA determines a combined disability rating, which it then uses to calculate the monthly payment.

Number and types of dependents

The VA adjusts disability rates for veterans who are financially responsible for a spouse, children or parents in any combination. The VA requires proof of their financial dependency.

A spouse is anyone you have legally married, including someone of the same sex as you. The VA recognizes common-law marriages as well

.

To claim a child as a dependent for VA disability, the child can be biological, adopted or a step-child. Dependent children must be one of the following:

  • Under 18 years old.

  • 18 to 23 years old but unmarried and enrolled full-time as a student.

  • Deemed permanently disabled before turning 18.

Aid and attendance status

Certain family members of qualifying veterans are eligible for Aid and Attendance if they:

  • Require assistance to perform daily care activities such as bathing, preparing food and taking medication.

  • Live in a nursing home because of physical or mental incapacity.

  • Are bedridden.

  • Have 5/200 visual acuity or less in both eyes with glasses or contacts.

  • Have a concentric contraction of vision to 5 degrees or less.

Aid and Attendance is available for the:

  • Spouse of a living veteran.

  • Surviving spouse of a deceased veteran.

  • Permanently disabled children over age 18 who became disabled before turning 18.

  • Surviving parents that already receive Parent’s Dependency and Indemnity Compensation.

If a veteran’s family member qualifies, the VA tacks on an additional amount to their monthly payment.

2023 Veterans Disability Rates

Veteran disability rates are paid monthly. Because they follow the cost-of-living allowances Social Security applies to its benefits, every time Social Security benefits are recalculated to account for inflation, veteran disability rates change as well. This means that veteran disability pay rates can differ from year to year.

There are two categories of veteran disability pay rates: those for unmarried veterans and those for married veterans. Within each category, the combinations of disability rating and different types and number of dependents determine a veteran’s monthly payment. Because married veterans receive higher rates than unmarried veterans, it is important to double-check that you are looking at the correct table when looking up your rate.

VA disability rates for unmarried veterans

VA disability rates for married veterans

Additional amounts

Veterans with spouses who qualify for Aid and Attendance benefits, and veterans with more than one dependent child get additional funds each month.

Extra funds for spousal Aid and Attendance

Extra funds for additional dependent children

Examples of calculating monthly VA disability payments

Some monthly payment calculations will be more complicated than others, especially those where a veteran has several dependents. The three example scenarios below are calculated using the amounts in the tables above.

Example 1: Unmarried veteran with dependent children and a dependent parent

John has a disability rate of 40% and is unmarried. He has shared custody of three children, and his dad lives with him. Two of his children are under 18, and one child is over 18. His disability payment is calculated as follows:

Base rate: $849.86

Additional child under 18: $40.00

Additional child over 18: $129.00

Total: $1,018.86

John’s base rate is for a veteran who has one child and one parent as a dependent but no spouse. Because one child is included in the base rate, he can only claim the additional amounts for two children. The two children have different rates because one is under 18 and the other is over 18. No additional amount is provided for his dad, because he is included in the base rate.

Example 2: Married veteran with one child

Leanne has a disability rate of 80%. She is married with one child under 18. Her husband does not qualify for Aid and Attendance.

Base rate: $2,212.15

Total: $2,212.15

Leanne’s rate is only her base rate without additional amounts, because her husband and child are included in the base rate.

Example 3: Married veteran with spouse who needs daily assistance

Sarah has a disability rating of 30%. Her wife requires medical aid to help with daily activities when Sarah is not at home, which qualifies her for Aid and Attendance. Her wife has one child under 18 from a previous marriage.

Base rate: $612.05

Aid and Attendance: $56.00

Total: $668.05

Sarah’s base rate includes her wife and her step-daughter. Because her wife qualifies for Aid and Attendance, Sarah receives an additional amount that is also based on her disability rating of 30%.

How to apply for VA disability compensation

If you believe you are eligible for veteran’s disability pay, you’ll need to file a claim for Veterans Affairs to review. Here are the steps to apply.

  1. Decide on an application method. You can submit your application online, by mail, in person at a VA office or with the help of an accredited representative. If you are submitting your claim by mail, you’ll need to download VA Form 21-526EZ and fill it out. Regardless of which method you use, you’ll need to submit supporting documentation. If you need help filing the application and supporting evidence, you can call your regional VA office to ask for assistance.

  2. Gather documentation to support your application. This can include medical records from VA or private doctors and hospitals, as well as statements from people who are familiar with your disability. You do not have to submit your supporting documentation with your claim; however, the VA says that sending in all of your documents together with your application can help them work through the process more quickly.

  3. Submit documentation. Once you have all of your documentation together, submit it with your application to complete your claim. If you filed an Intent to File form or submitted your claim without evidence, gather the documentation and submit it to support your claim.

🤓Nerdy Tip

If you do not have all of your documentation together but want to file a claim, use an Intent to File form instead. The date on which you file the claim becomes your effective date and is still active as long as you complete your claim within 365 days of the effective date. You might qualify for backpay.

Frequently asked questions

How long does it take to complete a claim for veteran’s disability?

The VA says that the average time to complete a claim is 104.1 days as of July 2023, which is about three and a half months.

Am I guaranteed veterans disability if I was injured during military service?

No, every claim for VA disability must be reviewed and supported with medical documentation.

Source: nerdwallet.com

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In mid-2013, the FHA implemented a major change to its loan program that requires the annual mortgage insurance to be paid for the life of the loan if the loan-to-value ratio (LTV) exceeds 90%.

FHA Loans Got Pricey Overnight

  • A newly imposed rule means most FHA borrowers
  • Will be forced to pay mortgage insurance for the full loan term
  • Which can greatly increase the total cost of the loan
  • And make it an unattractive home loan option relative to conventional offerings

This is a very significant change, seeing that many borrowers turn to the FHA because they don’t have access to a large down payment.

Prior to this underwriting change, borrowers generally only had to pay monthly mortgage insurance until the loan amortized to 78% LTV.

And in some cases, the annual mortgage insurance premium wasn’t required at all, just the upfront mortgage insurance premium.

I touched upon this earlier, but the changes are now live. You can see the charts here, which detail the mortgage insurance premiums based on loan term and LTV.

To add insult to injury, the annual insurance premium on FHA loans was also increased back in April. So essentially today’s FHA borrowers are actually being hit twice.

Note: Those who qualify for an FHA streamline refinance (for loans originated prior to June 1, 2009) only have to pay a 0.55% annual MIP thanks to an Obama administration initiative.

If you’re wondering why the FHA made these changes, it was to shore up capital and protect the agency from mounting defaults, and perhaps to level the playing field and draw in private capital.

[Why private mortgage insurance stocks are rising.]

Before this policy change, the FHA was insuring loans out of its own pocket, even if the borrower was no longer paying mortgage insurance premiums.

A Look at the Potential Cost of the Policy Change

In a nutshell, this basically means FHA loans are a lot less attractive than they used to be compared to conventional mortgages.

Before this change went into effect, FHA loans were a hot commodity because they had relatively easy underwriting guidelines coupled with low mortgage rates.

Now, even if the mortgage rate on an FHA loan is significantly lower than that of a conventional loan, the mortgage insurance premiums alone can trump the interest rate savings.

For example, check out the promotional chart from United Guaranty above, one of the largest private mortgage insurers (that competes head-to-head with the FHA).

FHA Loans Will Cost $40,000 More?

  • While mortgage insurance for life means
  • Homeowners will pay a lot more in premiums
  • The assumption is the loan will be held to maturity
  • In reality most home loans are only kept for a fraction of the 30-year term

Their scenario, which is a 30-year fixed, $200,000 loan amount at 96.5% LTV for the FHA loan, and 95% for their loan, equates to an FHA loan that is about $40,000 more expensive.

The conventional mortgage only requires payment of private mortgage insurance (PMI) for roughly 10 years, while the FHA loan requires it for the full 30 years.

And if you notice the mortgage rates involved, the FHA loan is priced at 3.25%, while the conventional loan with PMI is priced at 3.75%.

The FHA loan results in less interest paid throughout the life of the loan, but costs the borrower big time in the mortgage insurance department.

Now, United Guaranty might have put together a favorable scenario, but even so, the graph illustrates the importance of looking at the big picture.

You can’t just shop for mortgage rates by interest rate alone – one-time fees and other costs can change the picture completely.

The graph also strengthens the argument of coming in with at least 20% down when purchasing a home or refinancing.

If you are able to come up with such a down payment, you can avoid mortgage insurance on the conventional loan entirely, grab a lower mortgage rate, and enjoy a lower monthly mortgage payment.

At the same time, the mortgage insurance costs in this graph may be blown out of proportion.

Most borrowers only hold their mortgages for six years or so, meaning the full cost of the mortgage insurance isn’t actually realized in most cases.

Still, be sure to compare and contrast the costs of all types of loans to ensure you get the best deal for your particular situation.

Read more: The differences between FHA and conventional mortgages.

Source: thetruthaboutmortgage.com

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Massachusetts offers a range of living experiences that are hard to rival. We narrowed down the very best places to live in the Bay State.

From brainy hubs buzzing with innovation to serene towns where tranquility reigns supreme, the Bay State has it all. If you’re scouting out top-tier places to live in Massachusetts, gear up for a deep dive into some of the top spots that pack a punch in terms of culture, community and charm. Without further ado, these are the best cities in Massachusetts. Enjoy!

  • Population: 87,453
  • Average age: 41.1
  • Median household income: $164,607
  • Average commute time: 28.4 minutes
  • Walk score: 57
  • Studio average rent: $2,050
  • One-bedroom average rent: $2,000
  • Two-bedroom average rent: $2,700

Newton is just a stone’s throw from Boston, it’s like the universe took a slice of urban dynamism and dropped it into a serene New England setting. Those tree-lined streets and beautiful homes? It’s almost deceptive, like the calm before a storm. However,  instead of a storm, you get a burst of intellectual and cultural activity.

Newton isn’t just about good looks though. It’s got brains too. Job opportunities in and around the city are off the charts, especially if you’re in tech or academia. There’s a camaraderie in the air – folks attending art festivals, discussing new novels or debating which local startups are most likely to get a second round of funding. Looking for a place that’s both laidback and constantly evolving? Look no further than Newton.

  • Population: 59,223
  • Average age: 34.8
  • Median household income: $122,356
  • Average commute time: 29.1 minutes
  • Walk score: 81
  • Studio average rent: $2,484
  • One-bedroom average rent: $2,750
  • Two-bedroom average rent: $3,650

The vibe in Brookline is as if someone took the buzz of Boston and mixed it with a much more chill, community-driven charm. Yeah, it’s close to Boston, but Brookline has its own magic. Tree-lined streets, historic brownstones and plenty of parks are just a few of the attributes that land Brookline near the top of this list.

But don’t be fooled by its laid-back vibe. Brookline’s got a pulse that’s hard to ignore. The job scene is rock solid, with easy access to Boston’s booming industries. As for the community? Imagine weekend farmers markets, lively discussions at local diners and spontaneous street festivals. It’s a blend of cultures, ages and ideas that just, well, works.

  • Population: 33,792
  • Average age: 46.6
  • Median household income: $185,686
  • Average commute time: 31.6 minutes
  • Walk score: 33
  • One-bedroom average rent: $2,955
  • Two-bedroom average rent: $3,440

Lexington is a town where the first shots of the American Revolution echoed, and that raw, revolutionary energy still pulses through its streets. With its historic landmarks and sprawling green spaces, Lexington is a visual feast for those who appreciate a touch of history in their daily life. Battle Green might be calm now, but its silent tribute to the spirit of America is undeniable.

Don’t confuse respect for the past with denial of the future, however. Lexington is a powerhouse in terms of employment, especially for tech-savvy folks. Close to Boston’s tech corridor, opportunities here aren’t just jobs; they’re careers and pathways to change the world. Schools in Lexington are often ranked among the best in the state, setting up kids to shoot for the stars, literally and metaphorically.

  • Population: 28,747
  • Average age: 34.8
  • Median household income: $226,250
  • Average commute time: 29.8 minutes
  • Walk score: 37
  • One-bedroom average rent: $3,100
  • Two-bedroom average rent: $3,850

Easily among the best places to live in Massachusetts, Wellesley has this unique blend of elite sophistication with a chaser of classic New England charm. Drive through its streets, and you’re met with elegant homes, meticulously maintained landscapes and the unmistakable sense of history that lingers in the air.

But let’s dig deeper. Beyond its stunning facade, Wellesley boasts some serious credentials. The job opportunities are top-notch, with a proximity to Boston that means you’re never too far from the action. The academic scene is anchored by Wellesley College, a small but widely respected liberal arts school for women. Dive into the community side of things, and you’re looking at a blend of outdoorsy types, avid readers and gourmet food lovers, among many other passions and interests.

  • Population: 117,090
  • Average age: 30.6
  • Median household income: $112,565
  • Average commute time: 26.5 minutes
  • Walk score: 90
  • Studio average rent: $2,910
  • One-bedroom average rent: $3,769
  • Two-bedroom average rent: $4,736

Right across the Charles River from Boston, Cambridge is where intellect meets street cred. With institutions like MIT and Harvard, it’s no surprise that the air here is practically crackling with potential from its thriving college community. It’s the kind of place where tomorrow’s tech breakthroughs and groundbreaking theories are probably being scribbled on a napkin in a crowded pub right now.

But hey, it’s not all textbooks and laboratories. The job scene in Cambridge is absolutely killer, especially if you’re into the medical and technology fields. The squares – Harvard, Central and Kendall – are like their own mini ecosystems of culture, food and entertainment. Whether you’re grabbing a coffee, catching an impromptu street performance or just people-watching, there’s always a story of epic proportions unfolding in Cambridge in the medical and technology fields and beyond.

  • Population: 79,815
  • Average age: 31.5
  • Median household income: $108,896
  • Average commute time: 32.3 minutes
  • Walk score: 89
  • Studio average rent: $2,798
  • One-bedroom average rent: $3,112
  • Two-bedroom average rent: $3,445

Somerville is a melting pot of culture and creativity, just a hop away from the heart of Boston. Among the best places to live in Massachusetts, Somerville stakes its claim with a fierce and independent spirit. It’s where artistry meets urban grit, where every alley might be hiding a mural, an indie coffee shop or the next big idea in tech.

Employment opportunities are ample, especially with the close-knit startup community and a slew of creatives calling this place home. Proximity to universities and Boston’s business hubs makes it a magnet for opportunities. But here’s the real kicker: the community. It’s a melting pot, with festivals that celebrate every culture under the sun and markets that boast flavors from every corner of the globe. Education is a big deal, with schools that focus not just on grades but on shaping well-rounded citizens of the world.

  • Population: 17,669
  • Average age: 46
  • Median household income: $169,335
  • Average commute time: 34 minutes
  • Walk score: 35
  • Two-bedroom average rent: $2,900

Concord is undoubtedly one of the best places to live in Massachusetts, and here’s why. Settled deep in the heartland of New England, Concord possesses a unique blend of historic charm and untouched natural beauty. There’s just amazing energy, as if the spirits of literary giants like Emerson and Thoreau are still lingering, probably writing their next masterpiece by Walden Pond. Louisa May Alcott’s Orchard House also draws tourists into the town. The scenic landscapes, rolling hills and lush forests make it seem like Mother Nature herself decided to craft a perfect postcard setting here.

But it’s not just about the aesthetic. Take a closer look at the community and you’ll find a thriving hub of innovation and education. With job opportunities that range from tech startups to sustainable farming, Concord keeps pace with the modern world while retaining its small-town charm. Concord is a place where neighbors know each other, gatherings at local cafes become intellectual debates and the weekend farmers market is more of a social event than a chore. Concord just might be your jam if you’re seeking that ever-elusive balance between the serene and the stimulating.

  • Population: 29,311
  • Average age: 40
  • Median household income: $72,687
  • Average commute time: 21.8 minutes
  • Walk score: 72
  • One-bedroom average rent: $2,250

Northampton is a hub of energy and authenticity. If you’re on the hunt for the best places to live in Massachusetts, you’d be hard-pressed not to head straight to Northampton. There’s a distinct beat to this place, where you might bump into a street musician pouring his soul into a saxophone one moment and stumble upon a cutting-edge art exhibit the next.

The surrounding nature is a real added bonus. Rolling hills, scenic trails and the Connecticut River – it’s an outdoor enthusiast’s dream. With a bustling downtown and an influx of innovative businesses, there’s no shortage of opportunity. The schools are solid, focusing on cultivating curious minds ready to take on the world. Whether it’s cheering at the local music venues, attending film festivals or just enjoying the next-level food scene, Northampton offers residents an experience like no other.

  • Population: 37,819
  • Average age: 23
  • Median household income: $61,127
  • Average commute time: 26.9 minutes
  • Walk score: 52
  • Studio average rent: $2,049
  • One-bedroom average rent: $2,249
  • Two-bedroom average rent: $3,079

Often hitting the radar as one of the best places to live in Massachusetts, Amherst is an appealing and unique place to call home. With a backdrop of dense forests and open fields, it’s easy to think you’ve stepped into a tranquil paradise. But beneath that serene surface, there’s a storm of ideas, debates and dreams.

Universities like UMass Amherst, Amherst College and Hampshire College make this place a powerhouse of academia. You can practically feel the hunger for knowledge in the air. Jobs are as diverse as the community itself, with academia, research and local businesses driving the economy. The community has its own rhythm, driven by students, professors and lifetime locals. Think local farms delivering the freshest produce, indie bookstores hosting fiery poetry slams and an arts scene that’s constantly pushing boundaries.

  • Population: 11,261
  • Average age: 45.6
  • Median household income: $220,815
  • Average commute time: 26.6 minutes
  • Walk score: 49
  • Two-bedroom average rent: $ 2,550

If there’s a gold standard for living the good life in the Bay State, Weston might hold the title. Making waves as one of the best places to live in Massachusetts, this town redefines what it means to strike a balance. It’s where the green expanse of New England landscapes meets a community that’s high-octane in ambition but relaxed in vibe.

Despite being just a short drive from Boston’s city center, when you’re in Weston, it feels worlds away from the bustle. Think sprawling estates, tree-lined avenues and untouched natural reserves. The job market is strong, buoyed by its proximity to Boston’s corporate hubs and a local community that values enterprise. The community is close, reflecting a place where folks are as likely to bond over a round of golf as they are over a local conservation project.

Make your way to Massachusetts

There you have it, a whirlwind tour of some of the best places to live in Massachusetts. While each town featured above boasts its own flavor, they all share a commitment to community, education and quality of life. Whether you’re chasing the rush of urban energy or the peace of a countryside retreat, Massachusetts lays out a smorgasbord of options. It’s all about finding that perfect spot where your story fits right in.

Ready to settle down in the Massachusetts town of your dreams? Find your next apartment with us today.

Source: rent.com

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The last time mortgage demand was this low, Toni Braxton’s “Un-break my heart” topped the Billboard charts.

For the week that ended Sept. 8, mortgage applications fell 0.8% from the prior week, according to data from the Mortgage Bankers Association. Mortgage applications decreased for the seventh time in eight weeks, down to the lowest levels since December 1996.

Last week, refinance applications recorded a 5% drop. It was the weakest reading for refinance applications since January 2023. Simultaneously, purchase applications increased over the week despite the increase in rates, buoyed by a 2% gain in conventional loans. The unadjusted purchase index decreased 11% compared with the previous week and was 27% lower than the same week one year ago.

“Given how high rates are right now, there continues to be minimal refinance activity and a reduced incentive for homeowners to sell and buy a new home at a higher rate,” said Joel Kan, MBA’s vice president and deputy chief economist.

The refinance share of mortgage activity decreased to 29.1% of total applications from 30% the previous week. Meanwhile, the adjustable-rate mortgage (ARM) share of activity increased to 7.5% of total applications from 6.7% last week.

The 30-year fixed mortgage rate increased to 7.27% last week, according to Kan. At HousingWire’s Mortgage Rates Center, Optimal Blue had 30-year fixed-rate mortgages at 7.17% on Sunday. At Mortgage News Daily, 30-year fixed-rate mortgage rates were at 7.30% on Monday.

The Federal Housing Administration loans’ share increased to 14.2% from 13.7% the week prior. The U.S. Department of Veteran Affairs loans’ share remained unchanged at 11.3%. Lastly, the U.S. Department of Agriculture loans’ share fell  to 0.4% from 0.6% a week prior.

The average contract interest rate for 5/1 ARMs ticked up to 6.59% from 6.33% a week prior.

Source: housingwire.com

Apache is functioning normally

Candlesticks are price chart units that show the high, low, opening, and closing prices of a stock or security within a specified time period. Overtime, the candles create patterns that traders can use to predict price movements, trends, and reversals.

Most candlesticks consist of a body and upper and lower wicks, which are also known as shadows or tails.

Candlestick charts are commonly used, along with line charts, bar charts, and point-and-figure charts.

What Is a Candlestick Stock Chart?

Candlesticks originated in Japan, perhaps in the 19th century, as a means of tracking the prices of certain assets and commodities. When candlestick charts were introduced in the West, they originally were called Japanese candlestick charts.

The candlestick itself consists of an open area called the “real body,” which shows the range between the open and close prices, with the price movements in the specified time period shown as vertical lines or wicks (also called shadows) on either end of the body. The wicks indicate the high and the low for that period.

When the real body is filled in with black or red it means the close was lower than the open. When it’s white (blank) or green, the close was higher than the open. On most platforms, traders can alter the colors to whatever is easiest for them to read. Some candlestick charts are black and white.

Traders can set the desired time period they want to analyze; often a candlestick represents the price movements during a trading day. Candlestick patterns are formed by a series of candles within a designated interval (e.g. days or weeks).
💡 Quick Tip: Before opening any investment account, consider what level of risk you are comfortable with. If you’re not sure, start with more conservative investments, and then adjust your portfolio as you learn more.

Candlestick Charts vs Bar Charts

Like candlestick charts, bar charts show security price changes over time. Many traders think candlestick charts are easier to read; the thicker candle bodies make it easy to see the distinction between the opening and closing price and the high and low.

Bar charts are also often not color coded, making it more difficult to see price trends. However, some traders prefer the cleaner aesthetic of a bar chart.

What Do Candlestick Charts Tell Investors?

Candlestick charts are composed of candles lined up next to one another, each of which shows price movement between the specified time period. Because candles show price changes in certain time periods, traders can use charts to see trends and try to predict price changes.

Candlestick patterns can show that a negative or positive price continuation is likely, or that a price trend may reverse. Even a single candlestick can help traders decide whether to buy or sell.

Some investors use fundamental analysis of an investment to make trading decisions. But that in-depth analysis is typically not of interest to a day trader.

Day traders often use what is called technical analysis in an attempt to detect patterns in a security’s performance. Although this method is common in the financial industry, many debate the validity of these patterns and whether they can be predictive, or help investors anticipate a security’s future performance in any way.

Recommended: Understanding the Risks of Day-Trading

How to Read Candlestick Charts

Owing to the four main components of a single candlestick — the opening price, closing price, the high and the low — candlestick charts convey a lot of information. Essentially you have five data points in each candlestick:

•   The opening price (indicated by the top of the real body)

•   The closing price (the bottom of the real body)

•   The high (the upper wick)

•   The low (the lower wick)

Whether the day’s closing price was higher or lower than the previous close.

Parts of the Candlestick Chart

As described above, the part of the candle between the top and bottom borders is called the candle body, or real body. This represents the opening and closing prices of the time period that the candle depicts.

The candle body is more important than the wicks or shadows, because the wicks show high and low trades, which may be significantly different from the majority of the day’s trades. A longer candle body shows a stronger price trend in either direction.

Upper Wick

The vertical line above the candle body is the upper wick or shadow. The top of the shadow the highest price the security was traded at during the set time period. A long upper shadow indicates a bearish price direction: It means traders are unsuccessfully attempting to increase prices.

Lower Wick

The line below the candle body is the lower wick. The bottom of the wick marks the lowest price of the security during the set time period. If a wick is short, it means the opening or closing price was near the high and low trades.

Range

The range is the difference between the top and bottom of the real body. If the close was lower than the open, the real body is filled in (usually black or red. If the close was higher than the open, the real body is hollow or green (or another color of the trader’s choice).

While these are the components of a traditional or standard candlestick chart, some candlestick charts have candles without a top or bottom or wicks.
💡 Quick Tip: It’s smart to invest in a range of assets so that you’re not overly reliant on any one company or market to do well. For example, by investing in different sectors you can add diversification to your portfolio, which may help mitigate some risk factors over time.

Candlestick Chart Time Frames

Traders can select the time frame that each candle represents. One commonly used time frame shows the opening price, closing price, and high and low for a single day. Each candle in the chart would show the price movement in one day.

A trader could see that a stock price declined significantly over the course of the day, which could result in a continuing decline in the coming days.

The most commonly used time frames are:

•   1-minute (M1)

•   5-minute (M5)

•   15-minute (M15)

•   30-minute (M30)

•   1-hour (H1)

•   4-hour (H4)

•   Daily (D1)

•   Weekly (W1)

•   Monthly (M1)

Shorter time frames essentially allow traders to zoom in on the price action of the chart. For example, an H1 chart would have four times the candles of an H4 chart, so traders can look more closely at price changes.

Basic Types of Candlestick Charts

Candlesticks are created by price movements throughout the specified time period. Taken as a cluster, candlesticks form patterns traders use for analysis and trend prediction.

Bearish and Bullish Patterns

There are two main patterns: bearish (the security’s price is likely to decline) and bullish (the security’s price is likely to rise). These reflect the common terms for bullish and bearish market conditions.

No pattern is a guarantee of a price change or of a security’s performance. Candlestick charts are therefore used more as indicators of potential price trends.

Doji Candles

If the price closes exactly where it opened, there is no candle body. This is called a doji and is marked with a cross. A doji candlestick is rare, but when it shows up it can be a predictor of a price reversal.

Marubozu

The marubozu is essentially the opposite of the doji. It has a long candle body and no wicks or shadows. This type of candle indicates that the price didn’t trade beyond the range of the open and closing prices.

Common Types of Candlestick Patterns

Certain candlestick patterns can help traders make short-term predictions about price movements. Although a single candle indicates whether buying or selling action is strong, it doesn’t necessarily mean that the long-term price will continue in that direction. This is why traders look at different time periods to get a sense for longer-term trends, and to understand support and resistance levels.

There are many ways to read candlestick charts, depending on trading strategy and time frame.

At first glance, candlestick charts can appear pretty random. But there are many bullish and bearish patterns traders can identify in order to try to predict price movements. It’s important to remember that patterns are not guarantees of future price movement.

Bearish Engulfing Pattern

If there are more sellers than buyers when a chart has been trending upward, traders will see a long red candlestick after a small green one. This can indicate that prices may decline.

Bullish Engulfing Pattern

The opposite pattern will occur if the price is trending downward but then a long green candlestick appears in the chart. This may indicate that prices will continue to increase.

Bearish Evening Star

The evening star pattern is uncommon, but considered a strong indicator of future price declines when it does show up. It’s generally a three-day candlestick pattern.

•   The first day is a large white or green candle, indicating a clear rise in price.

•   The second day shows a smaller candle, indicating a more modest price increase.

•   The third day is a long red candle that opens at a lower price than the previous day, and closes near the middle of the first candle’s range.

Morning Star

The reverse of the evening star is the morning star, a bullish indicator. The first candlestick in this pattern is long and red, the second is short and lower than the first, and the third is a long green candlestick that closes above the center of the first, indicating an upward price trend.

Bearish Harami

This is a two-candle pattern. If traders see a small red or black candle body that fits completely within the previous day’s candle body, it could indicate a price reversal. Price action continuing downward after the small candle could indicate a longer-term downward trend.

Bullish Harami

A bullish harami is a three-day pattern that may indicate a reversal of a bearish trend. If there are two black or red candles, indicating the downward trend, followed by a small white or green candle that fits completely within the body of the previous candle, that may signal a bullish turn.

Harami Cross

The harami cross can be bearish or bullish. With a bearish harami cross, there is a long candle that’s part of a downtrend and it’s followed by a doji.

With a bullish harami cross, there is a long candle that’s part of an upward trend, also followed by a doji.
In either case, the doji could signal a reversal of the trend.

Falling Three Methods

This is a bearish pattern that includes five candlesticks. Typically there is one day with a strong downward trend, followed by three small green candle bodies that stay within the boundaries of the first candle, followed by another long red candle. The falling three methods may signal an interruption of the trend, but not a full-on reversal.

Hammer

If the price significantly decreases but then makes a comeback and ultimately closes near the high, this is called a hammer. The hammer pattern has a small body and a long lower wick. It’s a bullish signal because it shows that the price was declining but then traders pushed it back up.

Hanging Man

The hanging man pattern is the opposite of the hammer. It is also referred to as an inverted hammer. This pattern looks like a square lollipop. If traders are attempting to spot the top or bottom of a market, they often use hammer and hanging man patterns as indicators.

Shooting Star

A shooting star takes shape when a security opens, the price rises significantly over the trading period, but then closes near the opening price, signaling a reversal.

To really be considered a shooting star pattern, this particular candlestick — with the short real body, long top wick, and hardly any bottom wick — must occur within an upward price trend.

Gaps

A gap is a window of time in which there are no trade transactions. Gaps in a chart can indicate support and resistance levels, which can be followed by a further bullish or bearish trend.

The Takeaway

Candlestick charts are a way of condensing price information about a security into a fairly simple diagram that looks like a candle with two wicks. The candle’s “real body” shows the range between the open and close prices. The wicks are the vertical lines at the top and bottom of the real body, indicating the high and the low for that period.

Candlesticks can be grouped together into patterns that traders can interpret as signals of price trends that are either bearish or bullish. Often it’s best to use tools like this with other types of technical indicators.

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