Denver, Colorado-based Incenter Mortgage Advisors (IMA) on Thursday announced the launch of a new digital mortgage servicing rights exchange. The marketplace, known as eMSR Exchange, connects buyers and sellers of co-issue flow offerings online and provides pricing 24/7.
Co-issue loan sales, also known as flow-based mortgage servicing rights sales, are three-way transactions involving the sale of loans to one of the agencies, with a simultaneous sale of the MSRs to a separate third party. These transactions gain momentum when markets are difficult – with lower volume and tighter margins – and cash flow management becomes essential to originators.
However, trading MSRs in the co-issue market can take up to 90 days from the first communication between the parties around pricing to the moment the loan is committed, according to Tom Piercy, managing director at IMA. The fact that it takes so long can be challenging for originators seeking liquidity, mainly small and mid-size companies.
“With the exchange, participants have a daily commitment of MSRs that will settle at the end of each month,” Piercy said. “We are now coming as close as we can to commoditizing the MSR asset.”
Other companies are also developing new platforms as the agencies, Fannie Mae and Freddie Mac, have been pushing for co-issue loan sales in recent years. In November, Mortgage Capital Trading, Inc. released a marketplace for co-issue loan sales dubbed BAMCO. At that time, MCT said that co-issue transactions represented 16% of all loan sale types by MCT’s lender client base in 2022.
Trading an MSR in the traditional co-issue market requires resources from the parties. Buyers face the process of communicating with the sellers, creating pricing strategies and going through diligence and agreements. Meanwhile, sellers have to find buyers but typically do not gain access to the entire market because they don’t have resources or don’t fit the buyers’ criteria, such as the volume level or the loan profile.
“It’s a very cumbersome process. It’s not very efficient. But it’s the manner in which this market has worked,” Piercy said.
Incenter’s exchange allows buyers to access the MSRs that match their characteristics with loan-level precision instead of bidding on the rights to more heterogeneous asset pools. Buyers provide their pricing and required standards to the exchange, which works as a ‘one-stop shopping.’
In turn, sellers can upload their MSRs and the platform will step in as an intermediary, acting as the one counterparty to the buyers on the back end.
Incenter’s eMSR Exchange provides the optimum allocation of MSRs among multiple buyers. Each loan is matched with buyers’ pricing grids and “directed” to the most desirable buyer in seconds based on the loan characteristics acquirers seek, according to IMA.
Piercy said buyers will offer price matrices and only pay that price, which is calculated off of their pricing grids. To sellers, there’s a fee per loan netted out of the funds reconciled at the end of each month. The exchange’s fee is comparable to the one paid in the traditional market, Piercy added.
Two buyers are already committed to Incenter’s platform, but it can handle an unlimited number, according to Piercy. The exchange can also take 50 sellers as it exists today because it has to go through compliance processes, such as diligence and counterparty analysis.
Incenter’s marketplace suits any buyers, including banks, non-banks, private equity and real estate investment trusts of any size. On the sell side, it’s appealing to small and mid-size originators, Piercy said.
Stephanie Cornais found a cooking method that saved time and money, but it left her exhausted.
Stephanie, who blogs about parenthood and healthy living at Mama and Baby Love, would cook a month’s worth of meals in one day, then store them in the freezer.
It’s an idea that’s been around for awhile. In fact, J.D. wrote about it back in 2007. By batch cooking, not only do you have healthy, home-cooked meals when dinner time rolls around, but you also can save money by buying in bulk and not relying on convenience foods.
“I buy my beef and chicken straight from a local farmer, and buying beef in bulk saves me a good amount money,” says Stephanie. “And I save money by always having my freezer full of food and never having to rely on take out, fast food, or processed frozen foods from the grocery store.”
Once-a-Month Cooking Is a Lot of Work!
Stephanie was saving money and had a freezer-full of home-cooked meals, but once-a-month cooking was problematic.
For one thing, Stephanie experienced a lot of anxiety leading up to the big cooking day. “I was still learning how to cook, I was afraid of messing up, and I was afraid of feeling the emotions that came up in the kitchen,” she says. “My mother suffers from mental illness and being in the kitchen brought up a lot of painful memories of not having a mother who really took care of me and nourished me.” Also, the cooking marathons were physically exhausting. A once-a-month cooking session requires a lot of planning. “Between the juggling of cooking and childcare, the prep work, organization, and scheduling, it can be overwhelming,” she says.
And don’t forget, you’re doing a month’s worth of cooking in one day. “I would be making a bunch of all kinds of different meals (fajitas, meatloaf, casseroles, etc.) that all required chopping, assembling, cooking on the stovetop or oven, and then freezing,” she says. “So I would be in the kitchen all day long and have a huge variety of dinners to freeze.” Then there’s the cleanup and scrubbing of pans. No wonder it took more than 12 hours, even with a friend helping out. “My feet would kill me!” says Stephanie.
Make Once-a-Month Cooking a Snap With a Slow Cooker
About six years ago, Stephanie bought a slow cooker.
“No one taught me how to cook growing up, so I had to teach myself,” she says. “The slow cooker was the perfect beginning point. I never messed up anything in the slow cooker, it gave me confidence to try other things. I could just chop and dump and run the hell out of the kitchen.”
So after experiencing the drawbacks to once-a-month cooking, Stephanie tried a new method using her slow cooker. “Basically, all I was did was chop vegetables and assemble ingredients,” says Stephanie. “I just dumped the veggies into the gallon-sized Ziploc bags, then added the meat, then added the spices.”
She still enjoyed the money-saving benefits of once-a-month cooking, and because she was using her foolproof slow cooker, she had a lot less anxiety leading up to cooking day.
The new method also saved her a lot of time. “Now it takes about two hours,” she says. “Before there was lots of time spent coordinating grocery shopping and tasks, but now I probably spend about 15 minutes getting my grocery list ready. I simply chop and assemble, then immediately freeze. This way cuts the cooking down by 75%, but it’s only slow cooker meals.”
In fact, Stephanie got so efficient with this process that she wrote an ecookbook to show others how to do the same. “I group my recipes by three and include grocery lists in the beginning of the book,” she says.
“If you are making a fresh, made from scratch meal every night, this will blow your mind,” says Stephanie. “It will save so much time.”
How to Make a Freezer-to-Crockpot Meal
To see how freezer-to-crockpot meals work, check out Stephanie’s recipe for orange-beef stew.
Each bag makes about 6-8 servings.
Ingredients:
3 to 4 pounds of chuck roast (or any other kind of roast)
2 cups of beef broth
2 cups of orange juice
1 tablespoon of rapadura sugar
2 tablespoons of soy sauce
2 tablespoons of arrowroot powder/flour
2 tablespoons of minced garlic
1 bunch of scallions
2 sweet potatoes, cut into 1-inch cubes ( I scrub them good, but leave the skins on)
salt and pepper to taste
Directions
1. Label 1 one-gallon freezer bag.
2. Chop sweet potatoes and scallions, then add to freezer bag.
4. Mix well, then lay bag flat and place in freezer.
5. Day of cooking, add contents of freezer bag, roast, 2 cups of beef broth, salt, and pepper to slow cooker. Cook on low for 8 hours or high for 4 hours.
6. Serve with fresh salad and sourdough bread, if you have it.
Of course, this once-a-month method isn’t for everyone. “Some people don’t like to have slow cooker meals for most of the week,” she says. “So the other [once-a-month cooking method] is perfect for a wider variety of meals. But for me, this was a way to make a month’s worth of meals that were actually healthy in just two hours. I don’t use canned condensed soup or processed ingredients, so even though I am just chopping, assembling, and dumping into my slow cooker, I can say I made dinner from scratch!”
And even Stephanie doesn’t eat crockpot meals every day. “I usually make one dinner a week fresh, based on what’s in season and inspires me,” she says. “Then we usually go out to eat once a week, too.” Personally, I could see myself having a few of these frozen meals in the freezer, just for those days when I don’t feel like cooking. But what do you think? Is this something you would try?
While agency loans have existed for decades—Fannie Mae® was first chartered by the U.S. government in 1938, and Freddie Mac was introduced in 1970—even experienced commercial real estate investors may not have used them.
“With bank and agency loans, one isn’t necessarily better than the other—it depends on the property, the client and their goals,” said Kurt Stuart, Managing Director of Commercial Term Lending Northeast at JPMorgan Chase. “Agency lending has different requirements and nuances than conventional bank loans. Any dedicated agency team is well versed in both.”
What are the main agencies?
The two main agencies are:
Fannie Mae, short for the Federal National Mortgage Association
Freddie Mac, short for the Federal Home Loan Mortgage Corporation
Both Fannie Mae and Freddie Mac are government-sponsored enterprises (GSEs). They’re private companies that operate under congressional charters to help stabilize mortgage markets and protect housing during stressful financial periods.
Fannie Mae and Freddie Mac each have two businesses:
Single-family housing: residential properties with one to four units, which isn’t offered through JPMorgan Chase Commercial Banking
Multifamily housing: residential buildings with five or more units; within this category, financing is available for affordable and market-rate properties
“In both markets, the GSEs are a countercyclical source of capital, increasing market share when the private market pulls back, as we’re seeing presently,” said Josh Seiff, Managing Director of GSE Agency Lending, JPMorgan Chase.
These agencies benefit the market in several other ways, including:
Providing standardization of loan terms through their underwriting standards
Bringing liquidity and transparency to the market by issuing mortgage-backed securities that carry their guarantee of timely payment of principal and interest
Encouraging lower rates, greater transparency and more consistent availability of capital for housing
How does the agency financing process work?
GSEs don’t originate or service their own mortgages. Instead, approved private lenders—such as JPMorgan Chase—make loans to borrowers. Fannie and Freddie buy those loans from lenders, which they may hold in their portfolios or combine with other loans as mortgage-backed securities that can be sold on the secondary market. Lenders use the funds from these mortgage sales to originate more loans.
“Prior to the global financial crisis, the GSEs kept much of their risk on their balance sheets,” Seiff said. “Today, they securitize and distribute nearly all of their production to institutional investors, such as mutual funds, banks, insurance companies and pensions.”
What are the benefits of agency lending?
Agency loans provide many benefits for borrowers.
Consistent source of capital: GSE lending provides borrowers access to capital regardless of their location or exposure. Agencies also typically remain active during economic downturns and recessions.
Rates and proceeds: By securitizing and selling their guaranteed mortgage-backed securities to the investor market, the agencies can consistently offer borrowers competitive rates—and often higher proceeds.
Loan terms: Fannie Mae and Freddie Mac most commonly provide 5- to 10-year fixed-rate balloon loans, with interest-only options often available. Both GSEs also offer floating rate loans with terms between 5 and 30 years.
Favorable loan-to-value (LTV) and debt coverage ratio: The LTV may be up to 75% with 1.25% amortization. Most agency loans are less than 70% LTV, but higher leverage may be available for certain property types and situations.
Nonrecourse financing: With most agency loans, borrowers don’t have personal liability for the loan. If there is evidence of fraud or other unethical behavior, however, there can be recourse.
Assumability: If the borrower sells the property before the loan term ends, the property’s buyer may be able to assume the loan.
What types of clients and properties can take out agency loans?
Stabilized property acquisitions and refinances are well suited to agency loans. Likewise, institutional and third-party property management clients can benefit if they:
Are rate- and proceeds-sensitive
Have long-term hold expectations
Are comfortable with prepayment penalties and ongoing reporting in exchange for the best terms
“Understanding the needs of the client upfront is the key to a successful transaction with a customer and a good client experience,” Stuart said. That understanding is especially critical when discussing financing options.
“If you’re looking to do a long-term execution and you want really efficient pricing, then an agency execution is a great way to go,” Stuart said.
“But if you need to access anything in the asset over the next 10 years—if you need to redo the roof, for example, and you want to access equity to do that—a balance sheet loan is going to be much more amenable to those types of strategies,” he said.
The best financing option also depends on the asset and where it is in its lifecycle. For example, agency financing can be an excellent choice for a stabilized multifamily property. But bank financing may be better for new acquisitions or buildings with capital-intensive work, such as extensive renovation or deferred maintenance.
What are the key differences between agency and bank loans?
Borrower vs. property focus: Bank and agency loan servicers perform due diligence on the borrower and property. But bank loans generally focus on the borrower, while agency loans place that focus on the property. As a result, bank loans may also take a much deeper dive into the loan’s guarantor and require specific documentation from the borrower, including a personal financial statement and schedule of real estate. Agency loans often require detailed third-party evaluations on the property, engineering and environmental reports.
Flexibility of terms: Agency and bank financing offer flexibility in different ways. For example, agency loans allow borrowers to keep their cash deposits and property operating accounts at their bank of choice. Bank loans often require borrowers to place those funds with the bank providing the loan. Bank loans may offer flexibility elsewhere. For example, agency loans may have steep prepayment penalties compared to bank loans.
Inside: Amazon is known for its impressive shipping times. But how late does amazon deliver? Find the current days and times.
I am an avid Amazon shopper. You too?
There is just something about the ease of shopping on your computer and having it delivered to your doorstep that makes a girl feel like she is getting her money’s worth.
Amazon has such great customer service, but I was wondering how long does their shipping process take?
One of my biggest fears of shopping online is my package arriving after I go to bed and then being stolen off my porch.
Amazon is great for getting your packages with quick delivery times!
Remember, when getting our Amazon packages within 2 days was super quick?!?! Now, you can sometimes get your packages within an hour!
But, the question remains how late does Amazon deliver?
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What time does amazon deliver?
Typically between 8 am and 8 pm seven days a week.
However, deliveries can be as early as 6 am or as late as 10 pm.
What is the latest time Amazon will deliver my package?
We really want to know… what time does Amazon stop delivering?
The latest time Amazon will deliver a package is 10 pm local time on weekdays and 8 pm on Saturdays.
Amazon – overnight by 8 am
If you are an Amazon Prime member, there is no charge for the Early Morning Delivery service. This service allows you to schedule a package for delivery between 6 am and 8 am.
This is extremely beneficial to avoid late deliveries of packages. Plus for many, this is a perfect early morning job!
Our Amazon Overnight Delivery Experience
We placed an order for an early morning delivery one time. We needed an item for a long baseball tournament weekend.
I was a bit hesitant about placing for early delivery. But, it was fantastic!
Our order was delivered on time and we were grateful we had it before it was time to leave.
The delivery driver was super quiet placing the package on our front porch.
Will Amazon deliver after 10 pm?
On the Amazon website, they specifically state deliveries will occur between 6 am and 10 pm local time. (source).
Personally, I have never seen a package delivered after 9:30 pm.
If a package is out from delivery by 10 pm and doesn’t arrive around 9 pm, typically we find the package to be delivered the next day.
What days of the week does Amazon deliver?
Amazon offers delivery on weekdays and weekends.
For Amazon, their standard delivery time occurs between 8 am and 8 pm Monday through Friday.
However, since the rush of online shopping Amazon has expanded to delivering 7 days per week.
It’s important to note that according to their website, Amazon delivers items from their warehouses in under two days for Amazon Prime members.
Now, Amazon commonly delivers packages seven days a week. You can get your package as early as 6 am or as late as 10 pm.
So no matter what day of the week you need something delivered, Amazon has you covered!
Does Amazon deliver on weekends?
Yes, Amazon offers weekend deliveries. In fact, they offer same-day and two-hour delivery options for certain items on the weekends.
This makes it easy to get what you need without having to wait long!
Does Amazon Deliver on Sundays
Yes!
Amazon rarely takes a day off from their deliveries. They want you to get your packages when you need them the most.
How late does Amazon deliver on Sunday? Same as a typical day. However, I noticed they are normally done by 8 pm.
What holidays does Amazon not deliver on?
Is Amazon open on Christmas?
Amazon does not deliver on certain holidays. This means when you order something from Amazon, it will not be delivered on:
Christmas Day
Thanksgiving
New Year’s Day
Memorial Day
Labor Day
Both Christmas Eve and New Year’s Eve have normal delivery hours.
This is one downside to ordering from Amazon–since the company does not deliver packages on certain holidays, your order may not arrive until after the holiday has passed.
Be sure to keep this in mind when placing an order!
You just need to plan ahead to have your packages delivered in time around the holidays. Everyone deserves a day off to spend with their family!
amazon Weather Delays
Amazon is careful to keep its drivers safe.
You can watch and see everything a local warehouse does to ensure safety during inclement weather conditions.
Amazon will not deliver your package during inclement weather, whether it is snow/blizzard conditions, extreme arctic cold, dangerous thunderstorms, or natural disasters.
However, what does Amazon do when delivering in inclement weather?
They quickly update your order status and delivery date to include delays during weather events. The picture above is a screenshot of my own account during a historic Christmas blizzard and arctic cold.
How Late Does Amazon Fresh Groceries Get Delivered?
Amazon Fresh is a grocery delivery service offered by Amazon. It is available to Amazon Prime customers and offers on-demand delivery of groceries.
You can get your groceries by 8 pm or 8 am, depending on the delivery option that you choose.
Amazon has one-hour delivery with a delivery fee charge. Whereas the two-hour delivery is free to Amazon Fresh customers with orders over the local free shipping threshold.
Most regions offer free shipping on orders over $25. However, the other regions require $50 or more on your Amazon Fresh order.
How do I track my Amazon delivery?
After an Amazon order has shipped, you can find the tracking information in the order details.
If your package includes multiple items, each may have a different delivery date and tracking number.
This tracking process is very simple to find on the Amazon website or Amazon app.
Learn how to track Amazon order from someone else.
What if I’m not home when Amazon delivers my package?
One of the great things about Amazon is that they offer a variety of delivery options to its customers.
If you’re not going to be home when your package arrives, you can choose from a variety of alternate delivery options.
Amazon Locker. You could have the package delivered to an Amazon Locker near you.
Delivered to Alternative Address. You can send it to another address such as your office or a friend’s house.
Amazon Key. This is a service for Prime members which allows drivers to deliver packages inside your home using a unique code and smart security camera system. Learn how to enroll.
Plan Your Amazon Days. You can choose all of your packages to be delivered on a selected day that you know you will be home. Just select my Amazon Day at checkout.
If for some reason you’re still not able to receive your package, Amazon has got you covered.
What Do I do if my Amazon package is late?
You want to know… why is my amazon package late?
Amazon is known for its fast and efficient delivery times.
We hate to get Amazon deliveries late, right?
However, if your package doesn’t arrive within the estimated time, you should contact Amazon customer service to investigate.
If your package is delayed, you must be patient and wait. The estimated delivery time is only that–an estimate. In most cases, packages arrive within that timeframe.
Many times when you see “package delayed,” it is likely to be delivered the next day.
However, if your Amazon package is over 48 hours late, try one of these solutions:
If none of the above work, contact Amazon for a refund on your order.
What is Amazon’s refund policy for late deliveries?
If you’ve been waiting for an Amazon package and it doesn’t arrive on time, you may be wondering what your options are. Don’t worry, we’re here to help!
In this article, learn exactly what Amazon’s refund policy is for late deliveries.
First of all, let’s start with a little background information. If you experience a problem with your order, then go to Your Orders and choose Problem with Order.
Typically, Amazon will refund lost packages sent through FedEx and UPS.
Gone are the days when Amazon would extend your Amazon Prime benefits for late packages. (bummer, I know)
If the delay is due to something else–for example, bad weather–then Amazon will not issue a refund.
If an item is the wrong one, Amazon will replace it or issue a full refund if the order was placed less than 30 days ago.
Finally, Amazon offers an easy-to-use interface to file complaints.
You can access this by going to Your Orders and clicking on the problem order. Then, click on Request a refund under Action. From there, you’ll be able to fill out a form with all the relevant information.
Can I schedule an Amazon delivery for a specific time?
Yes, you can change your delivery time on Amazon if it has not been shipped yet.
However, the exact time for delivery will depend on your location and warehouse logistics.
If you need to reschedule an order that has already been picked up by a driver and is en route to the customer, you cannot reschedule that order.
Orders are generally received between 8 am and 8 pm in most areas, with exceptions noted in the cart checkout process.
Learn how long does Amazon take to ship.
What are some tips for ensuring my Amazon package arrives on time?
First and foremost, be sure to check the delivery schedule so you will know when your package will be delivered.
In some cases, Amazon offers one-hour delivery in selected cities. If you are not located in a city with one-hour delivery, don’t worry!
Amazon has a vast inventory of products for sale and offers free shipping on orders over $25.
Second, be sure to have all of your contact information correct on file with Amazon. This includes your name, address, phone number, and email address. Amazon uses this information to contact you about your order or to notify you that your package has been delivered.
Third, always inspect your package for any damage before signing for it. If there is any damage present, note it on the carrier’s receipt and contact Amazon immediately.
Finally, keep in mind that orders must be placed within the time window to be delivered on your specified day and time.
Related Reading: Can you get Cash Back with Apple Pay?
How Late Does Amazon Deliver Recap
Amazon offers delivery options for customers that vary depending on the urgency of the order and what time of day you want it delivered.
You can find a time that best suits your needs from early to late at night, seven days a week.
Amazon generally provides parcels and other items between 6 a.m. and 8 p.m., but this can vary depending on your location.
You can find the latest estimated delivery times for your specific zip code by placing the item in your cart.
It’s important to be aware of how late Amazon delivers in order to plan your expectations.
Also, to make sure Amazon does not deliver to the wrong address.
Delivery times vary depending on the product and the time of year, but we’ve compiled a list of the latest estimated delivery times for different types of products.
It’s important to know when your order will arrive.
Know someone else that needs this, too? Then, please share!!
The VA streamline refinance is the quickest, cheapest, and most beneficial type of refinance for veterans who currently have a VA home loan. VA refinance rates are at historic lows. If you are interested in reducing your interest rate and monthly payment, it’s worthwhile to check current VA streamline rates.
The VA streamline is one of the only refinance programs available in 2023 that allow you to qualify without income or bank account verification. It’s available to those with less than perfect credit. It is one of today’s quickest and easiest refinance options.
Check today’s VA streamline refinance rates by completing this quick online form.
What is a VA Streamline Refinance Loan?
The VA streamline helps veterans lower their mortgage rate and payments. When rates are low like they are now, veterans can refinance into a new loan based on today’s rates, and often reduce their monthly payment quickly and easily.
This loan type, also called the Interest Rate Reduction Refinancing Loan (IRRRL) eliminates many of the roadblocks that hold up applicants on other types of refinances. The VA Streamline is much easier because:
No paystubs or W2s are required
No bank statements are required
No home appraisal is required
There is no loan-to-value limitation because no appraisal or value is required.
Underwater homes are eligible
The required funding fee is lower than for VA purchase loans
Closing costs can be wrapped into the new loan, meaning little or no out-of-pocket expenses
Get a VA streamline rate quote here, no obligation.
Why is this loan so easy to obtain? Homeowners with a VA loan are more likely to make payments on time if their payments are lower. It benefits everyone when veterans have affordable mortgage payments.
Current VA Refinance Rates
VA streamline refinance rates are at historic lows. Many Veterans who have purchased or refinanced a VA home loan in the past few years should check today’s VA rates to make sure they have the absolute lowest rate and monthly payment possible.
Click here for a free VA streamline rate quote.
Eligibility
If you’re interested in a VA Streamline (IRRRL) you must currently have a VA loan. Your mortgage professional will pull a Prior Loan Validation from VA’s website to prove current VA loan status. There are some additional requirements.
On-Time Payments
In addition, you are required to have made on-time payments over the past year, with no more than one payment that was 30+ days late in the past 12 months. If you did have a late payment, say, 8 months ago, you may want to wait 4 months before applying.
The VA Streamline Refinance Must Improve Veteran’s Situation
The VA streamline has to put the borrower in a better financial situation. VA lenders may only approve streamline refinances that help the veteran.
The new payments on the VA streamline must be lower than your current payments. There are a few exceptions, like when you:
Refinance an adjustable rate mortgage (ARM) to a fixed rate mortgage.
Refinance into a shorter term
Finance energy efficient improvements into the VA streamline
In all cases except for an ARM refinancing into a fixed rate, the interest rate must decrease.
Estimate how a VA loan could drop your monthly payments.
Check VA streamline refinance rates here.
To prove the benefit of the refinance, your lender will provide you with a form stating the interest rate and payment of your current loan compared to the rate and payment of the new loan. The form will also state how long it will take the refinance to pay for itself. For instance, if the refinance will cost you $3000 in closing costs, but you are saving $300 per month, you will make back the cost of the refinance in 10 months. Be sure to review this form to make sure you are receiving an adequate benefit from the refinance. Talk to one of our VA experts to determine your refinance payback time frame.
Occupancy
You must certify that you previously occupied the home that you are refinancing with a VA streamline. Those applying for a VA streamline are more likely to qualify if they currently live in the home.
There are still instances where you may still qualify if you don’t live in the home. For example, if you lived in the home, then relocated and rented it out, you still may be able to apply for a VA streamline. Speak with your lender for more information.
VA Streamline Funding Fee
The VA funding fee is required for most purchase and refinance VA loans to defray the costs of the VA home loan program. In most cases, the VA Streamline funding fee is 0.50% of the new loan amount. This fee can be financed into the loan so that the veteran does not have to pay it at closing of the loan.
Check today’s VA rates.
The fee is waived for veterans who are disabled due to service-related injuries. The VA makes this determination and provides it to the lender.
The 0.50% fee is much less than the 2.15% or 3.3% usually required for purchase or VA cash-out refinance loans.
Subsequent Use
The VA streamline is not viewed as a subsequent use of your VA home loan benefit. You will not incur the 3.3% subsequent use fee because you used the VA streamline refinance program.
Entitlement
This loan does not use any of your VA home loan entitlement, nor do you have to prove remaining entitlement to obtain a VA streamline. Your remaining VA entitlement after a purchase of the home, if any remains, does not change when you obtain a VA streamline.
Loan Terms and VA Streamlines
As discussed previously, your VA loan term may decrease, for instance, from 30 years to 15 years. In this case, it’s OK that your payment increases.
You can also refinance a 15-year loan into a longer-term loan. However, keep in mind that the most your loan term can increase is 10 years. So if you currently have a 15-year term, the longest loan you can refinance into will be 25 years.
Complete a short online form to get a free rate quote and see how much you can save.
I’m Ready to Apply for a VA Streamline. What’s my Next Step?
Call (866) 240-3742 or simply complete our online form for a free, no obligation VA streamline rate quote. Rates are low and it’s a great time to lower your home payment.
Studies show that landscaping can add 12 to 15 percent to the value of your home. All you need is a green thumb to put some extra green in your pocket.
Landscaping is more than flowers and shrubs. Upgrades can involve things like patios and decks, flowerbeds, barbecue pits, watering systems, and plants of all sorts. As you enter into a landscaping project, you have plenty of choices about what kinds of upgrades to make.
The trick is to make improvements that prospective buyers want. If you do, then your property value will rise.
What Do the Experts Say?
Though experts agree that landscaping improvements usually raise a property’s value, it can be difficult to predict exactly what kind of gains you’ll see in individual circumstances. Estimates vary by home and note that the lasting effect of landscaping requires ongoing maintenance.
Virginia Tech horticulturist Alex Niemiera concluded that landscaping can add 12.7 percent to the value of a home — in his research six years ago. That translates into an extra $16,500 to $38,100 in value on a $300,000 home. In extreme cases, property values can more than double, and conversely, they can actually decrease if the landscaping contains undesired features that the local market doesn’t support.
The American Society of Landscape Architects (ASLA) recommends that homeowners invest 10 percent of the home’s value in landscaping. Landscape architecture goes beyond plantings, or softscaping, to include structural features like lighting, fences, garden paths, fire pits, swimming pools, and ponds.
Outdoor rooms, terraces, and decks are also high-yield structural or hardscaping investments. A landscape architect can work with the client to generate a detailed plan. Typically, the homeowner then hires a general contractor, landscape contractor, or subcontractor to perform the installation.
Landscaping on the Cheap
Of course, it’s quite easy to spend more on installation and ongoing maintenance than the landscaping benefits the value of your home.
A professional landscaper might seem like an extravagance, but they can help you gain equity in your home and save money by recommending features and plantings that will appeal to buyers and are cheap to maintain.
For example, perennials and bulbs can add color and style to your property all year long. Other cost-effective improvements include aesthetically pleasing architectural improvements, such as stone walkways and terracing that require little or no maintenance.
Another important factor to consider is the contractors who do your landscaping upgrades. Many companies vie for this kind of business, and choosing the right contractor can make a lot of difference.
Find a contractor with whom you are comfortable, who is honest and patient, and who can show you a good track record. Lastly, pay attention to the details. A subtle, small change, such as curving the edges of your flowerbeds, can by itself increase your home value by 1 percent.
How Does Curb Appeal Impacts Home Value?
Appealing landscaping can measurably increase the appraised value of your property.
“If a landscaping change is positive, it can often enhance price and reduce a home’s time on the market,” says Appraisal Institute President Richard L. Borges.
“But if the change is negative, it can lower the price and lengthen the time a home remains for sale.”
Curb appeal is essential when selling a home, Borges says, noting it’s the homeowner’s opportunity to make a great first impression. A home with lackluster landscaping or an exterior in desperate need of a fresh coat of paint will likely be unappealing to prospective buyers and ultimately could affect the home’s potential resale value, he said.
Borges says homeowners should ask themselves the following questions when it comes to the quality of their home’s green space:
Is the landscaping attractive enough to make the prospective buyer walk through the front door? Keep the design contemporary and in line with comparable properties in the area.
Could the landscaping provide cost savings? Landscaping that requires little or no water to maintain could be desirable depending on the geographic area.
Is the landscaping energy-efficient for the home overall? For example, it’s a good idea to plant trees in a place where they block the sun in locations with year-round hot climates.
Are the trees planted at a safe distance from the home and are they healthy and well maintained? Weak, old or damaged trees planted too close to a home or building could pose dangers to the home’s structure and will need to be removed. Consumers should also be sure that mulching or beds don’t get too close to wood around foundations to avoid wood-destroying organisms.
Home renovation guru Bob Vila counsels that perhaps the biggest mistake homeowners make is a piecemeal approach to landscaping.
“Homeowners begin projects, start to clear areas, put in a mix of plants, and proceed without a plan. The result is a hodgepodge of plantings and gardens that give the property a disorganized feel. An implemented professional landscape design provides a polished look. Following a professionally prepared plan will lead the homeowner to a beautiful property while remaining within a pre-established budget.”
Vila cautions homeowners to remember that everything doesn’t have to happen at once. Consider a five-year plan that has plantings maturing at varying rates and adds various features each year.
This way you can remain within your budget—time-wise and cost-wise—while still progressing toward a complete landscape renovation.
A variety of major mortgage rates moved higher over the last seven days. The average interest rates for both 15-year fixed and 30-year fixed mortgages both crept up. We also saw a hike in the average rate of 5/1 adjustable-rate mortgages.
On the heels of cooling inflation, the Federal Reserve announced on May 3 a 25-basis-point increase to its benchmark short-term interest rate. The Fed’s May meeting marks what could be the last increase we see for the time being. The central bank has signaled that it may soon be time to pause on rate hikes. Depending on incoming inflation data, the next step would be to hold rates where they are for an extended period of time in order to bring inflation down to its 2% target.
As long as inflation continues to trend downward, experts say a pause in rate hikes from the Fed could bring some stability to today’s volatile mortgage rate market.
Mortgages hit a 20-year high in late 2022, but now the macroeconomic environment is changing again. Rates dipped significantly in January before climbing back up in February. Throughout March and April, rates fluctuated in the 6% range.
“Ultimately, more certainty about the Fed’s actions will help to smooth out some of the volatility we have seen with mortgage rates,” says Odeta Kushi, deputy chief economist at First American Financial Corporation.
While rates don’t directly track changes to the federal funds rate, they do respond to inflation. Overall, inflation remains high but has been slowly but consistently falling every month since it peaked in June 2022.
After raising rates dramatically in 2022, the Fed opted for smaller, 25-basis-point rate increases in its first three meetings of 2023. The decision to hike by 0.25% on May 3 suggests that inflation is cooling and the central bank may soon be able to pause its rate hiking regime. While the central bank is unlikely to cut rates any time soon, positive signaling from the Fed and cooling inflation may ease some of the upward pressure on mortgage rates.
“If inflation keeps coming down, that will be the biggest driver, outside of the Fed, that’s really going to help bring rates down to a better level and improve affordability for home buyers,” says Scott Haymore, head of capital markets and mortgage pricing at TD Bank.
However, mortgage rates remain well above where they were a year ago. Fewer buyers are willing to jump into the housing market, driving demand down and causing home prices in some regions to ease, but that’s only part of the home affordability equation.
“Even though home prices in many parts of the country have fallen since the start of the year, high rates make buying prohibitively expensive for many,” says Jacob Channel, senior economist at loan marketplace LendingTree. It’s still difficult for many buyers, particularly those looking for their first home, to afford a monthly payment.
What does this mean for homebuyers this year? Mortgage rates are likely to decrease slightly in 2023, although they’re highly unlikely to return to the rock-bottom levels of 2020 and 2021. However, rate volatility may continue for some time. “Expect mortgage rates to yo-yo up and down in the first half of the year, at least until there is a consensus about when the Fed will conclude raising interest rates,” says Greg McBride, CFA and chief financial analyst at Bankrate. (Like CNET Money, Bankrate is owned by Red Ventures.) McBride expects rates to fall more consistently as the year progresses. “Thirty-year fixed mortgage rates will end the year near 5.25%,” he predicts.
Rather than worrying about market mortgage rates, homebuyers should focus on what they can control: getting the best rate they can for their situation.
“The most important thing is that they find the right home. The second most important thing is obviously to find the most efficient way to finance it,” says Melissa Cohn, regional vice president of William Raveis Mortgage.
Take steps to improve your credit score and save for a down payment to increase your odds of qualifying for the lowest rate available. Also, be sure to compare the rates and fees from multiple lenders to get the best deal. Looking at the annual percentage rate, or APR, will show you the total cost of borrowing and help you compare apples to apples.
30-year fixed-rate mortgages
The average 30-year fixed mortgage interest rate is 6.96%, which is an increase of 7 basis points compared to one week ago. (A basis point is equivalent to 0.01%.) The most frequently used loan term is a 30-year fixed mortgage. A 30-year fixed rate mortgage will usually have a lower monthly payment than a 15-year one — but often a higher interest rate. Although you’ll pay more interest over time — you’re paying off your loan over a longer timeframe — if you’re looking for a lower monthly payment, a 30-year fixed mortgage may be a good option.
15-year fixed-rate mortgages
The average rate for a 15-year, fixed mortgage is 6.30%, which is an increase of 7 basis points from seven days ago. You’ll definitely have a bigger monthly payment with a 15-year fixed mortgage compared to a 30-year fixed mortgage, even if the interest rate and loan amount are the same. But a 15-year loan will usually be the better deal, if you can afford the monthly payments. These include typically being able to get a lower interest rate, paying off your mortgage sooner, and paying less total interest in the long run.
5/1 adjustable-rate mortgages
A 5/1 adjustable-rate mortgage has an average rate of 5.83%, an addition of 4 basis points compared to last week. With an adjustable-rate mortgage mortgage, you’ll typically get a lower interest rate than a 30-year fixed mortgage for the first five years. However, since the rate adjusts with the market rate, you could end up paying more after that time, as described in the terms of your loan. If you plan to sell or refinance your house before the rate changes, an adjustable-rate mortgage may make sense for you. If not, shifts in the market might significantly increase your interest rate.
Mortgage rate trends
Mortgage rates were historically low throughout most of 2020 and 2021 but increased steadily throughout 2022. Now, mortgage rates are roughly twice what they were a year ago, pushed up by persistently high inflation. That high inflation prompted the Fed to raise its target federal funds rate seven times in 2022. By raising rates, the Fed makes it more expensive to borrow money and more appealing to keep money in savings, suppressing demand for goods and services.
Mortgage interest rates don’t move in lockstep with the Fed’s actions in the same way that, say, rates for a home equity line of credit do. But they do respond to inflation. As a result, cooling inflation data and positive signals from the Fed will influence mortgage rate movement more than the most recent 25-basis-point rate hike.
We use data collected by Bankrate to track daily mortgage rate trends. This table summarizes the average rates offered by lenders across the country:
Today’s mortgage interest rates
Rates as of May 18, 2023.
How to find the best mortgage rates
You can get a personalized mortgage rate by connecting with your local mortgage broker or using an online calculator. Make sure to think about your current financial situation and your goals when trying to find a mortgage.
Specific mortgage rates will vary based on factors including credit score, down payment, debt-to-income ratio and loan-to-value ratio. Having a good credit score, a higher down payment, a low DTI, a low LTV or any combination of those factors can help you get a lower interest rate.
The interest rate isn’t the only factor that affects the cost of your home. Be sure to also consider other factors such as fees, closing costs, taxes and discount points. You should comparison shop with multiple lenders — like credit unions and online lenders in addition to local and national banks — in order to get a loan that’s best for you.
How does the loan term impact my mortgage?
One important factor to consider when choosing a mortgage is the loan term, or payment schedule. The loan terms most commonly offered are 15 years and 30 years, although you can also find 10-, 20- and 40-year mortgages. Mortgages are further divided into fixed-rate and adjustable-rate mortgages. For fixed-rate mortgages, interest rates are stable for the life of the loan. Unlike a fixed-rate mortgage, the interest rates for an adjustable-rate mortgage are only the same for a certain amount of time (commonly five, seven or 10 years). After that, the rate fluctuates annually based on the market interest rate.
One factor to take into consideration when deciding between a fixed-rate and adjustable-rate mortgage is the length of time you plan on staying in your home. For people who plan on staying long-term in a new house, fixed-rate mortgages may be the better option. While adjustable-rate mortgages might offer lower interest rates upfront, fixed-rate mortgages are more stable over time. However, you may get a better deal with an adjustable-rate mortgage if you only intend to keep your home for a few years. The best loan term is entirely dependent on your specific situation and goals, so make sure to think about what’s important to you when choosing a mortgage.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Do you know how much a freight broker makes?
Shipping is one of the most common forms of international trade that takes place on our planet. There are many different types to choose from, like air freight, sea transport, and trucking.
Freight brokers are in high demand.
The daily tasks of a freight broker require plenty of planning, organization, and skill.
In this post, we will explore how much a freight broker makes on average each year as well as the types of employment that pay them the best salaries.
Let’s take a look at what these jobs entail:
What is a Freight Broker?
A freight broker negotiates with carriers for shipping opportunities by representing buyers and sellers interested in transportation services offered through qualified carriers or companies which may include ships as well as land-based modes such as trucks and trains.
It can be a lucrative profession if you’re skilled at it, but how much do freight brokers earn?
What is the average freight broker salary?
The average freight broker salary is $45,000. This number can vary depending on a number of factors, including the region of the country in which they work and their level of experience.
Also, as Freight 360 points out, the commission is the lucrative part of the job, and most W-2 employees make over $80K per year.
Freight brokers in the Midwest typically earn more than those in other regions. This is due to the fact that there is more business activity in this part of the country.
Those who are just starting out in this career field may not earn quite as much as those who have been working as freight brokers for several years. However, with time and experience, most people will see a gradual increase in their income.
How much does a freight broker make per year?
According to the US Bureau of Labor Statistics, the median salary for a freight broker is $46,910 or $22 an hour.
On a higher pay scale, Indeed.com lists the national average salary at $62,105 per year.
This means that 50% of all workers make more than this amount and 50% make less.
The freight broker salary is often impacted by a number of factors. One of the most important factors is whether or not the freight broker is a W-2 employee or an owner/operator of their own company.
W-2 Freight Brokers
W-2 employees are more common and make less than owners/operators. They work under a licensed freight broker and receive a base salary plus commission on each shipment they book.
Licensed Freight Brokers
Licensed freight brokers who own their own company often employ other freight brokers and may have higher earnings potential.
A freight broker is an independent business person or a broker who works with the transportation companies, agents, or brokers to renegotiate freight contracts on behalf of the shipper.
Becoming a freight broker requires a significant investment and takes a higher than average risk but it could prove to be well worth it in the long-term.
1099 Freight Broker
As 1099 independent contractors, a freight broker works under a licensed broker. But, they do not have the benefits of being a W-2 employee.
Freight broker Salaries by state
Freight broker salaries hover near the average $60000 salary. However, this salary varies widely based on location.
These statistics below are from Indeed.com.
Highest paying states
Kansas: $75,686 per year
Arkansas: $71,220 per year
Illinois: $66,448 per year
Utah: $65,250 per year
Georgia: $63,896 per year
Florida: $62,515 per year
Ohio: $62,268 per year
Texas: $61,921 per year
Iowa: $60,744 per year
Lowest paying states
West Virginia: $37,750 per year
Vermont: $38,040 per year
Alaska: $39,620 per year
Wisconsin: $39,710 per year
Hawaii: $39,920 per year
Interestingly enough, many of the low cost of living areas have the highest salaries. Whereas the lowest paying states have a higher cost of living. So, when factoring this into the HCOL vs LCOL debate, this is a highly lucrative career in those mid0west states.
Can you make good money as a freight broker?
Since you make money as a freight broker through commissions, there is no limit to what you can earn. You can make good money if you are driven to succeed and hit your sales quota each month.
Is becoming a freight broker worth it?
Being a freight broker training can be lucrative, with many freight brokers making six figures.
This business is ideal for talented salespeople who know how to cultivate long-lasting customer relationships. Freedom is one of the biggest factors for many people and it’s hard to find a job that offers this amount of freedom.
What are the most common freight broker job responsibilities?
Freight brokers are responsible for a variety of tasks, including finding shipments for their clients, negotiating rates, and arranging transportation. They must have strong analytical thinking and problem-solving skills in order to be successful in this career.
Freight brokers are responsible for a wide range of tasks, from communicating with clients and carriers to preparing and issuing invoices.
The most common freight broker job responsibilities are maintaining strong communication, collaborating with other departments, and retaining customers. Freight brokers are also responsible for ensuring that shipments arrive on time and under budget.
In addition, they also need to be familiar with the laws and regulations governing freight transportation.
Additionally, freight brokers should have a deep understanding of the transportation industry so they can provide the best possible service to their clients.
What skills are required to be a successful freight broker?
There are a number of skills that are important for freight brokers. These include, but are not limited to, customer service skills, problem solving skills, communication skills, and organization skills. Additionally, it is important to have a passion for the job in order to maximize income potential.
In order to succeed in this career, you’ll need strong computer skills. This includes being able to use Excel spreadsheets and other software programs that are commonly used in the freight industry.
What education is necessary to become a freight broker?
There are many ways to become a freight broker, but the best way to start is by taking a course from a private company. This will give you the essential knowledge and training you need to start working in this field.
DAT, one of the best companies, that provides the best load boards for truckers recommended this course.
In order to become a freight broker, you will need both experience and education. Depending on the state in which you reside, you may be required to have a certification in order to work as a freight broker.
In fact, it is one of the few well-paying careers that does not require secondary education. Most employers only need a high school diploma or GED.
What are the career prospects for freight brokers?
The freight broker job market is always on the move. The industry is constantly growing and changing, so it’s important to stay up-to-date on the latest trends.
As will all know, supply chain issues will continue and freight brokers will help eliminate the problems with logistics.
One of the best ways to get started is by working for someone else as a freight broker before moving on to become running your own business.
Unfortunately, the turnover rate for new brokerage authorities is high. Only one-third keep their designations. However, if you have the right skills and are willing to put in the work, then your career prospects are excellent.
In fact, if you keep using these good excuses to miss work, then a job change is probably needed.
How can you earn more as a freight broker?
There are many ways to increase your income as a freight broker. As a business owner or someone working on commissions, you want to do everything you can to increase your profit margin.
Use Load Boards
Freight brokers can maximize their income potential by using load boards.
Load boards are a valuable resource for freight brokers, as they provide access to a large number of shippers and carriers. When freight brokers have access to a large number of shippers and carriers, they are able to find the best matches for their clients’ shipments.
Grow with DAT load boards.
Generate More Business
If you want to increase your income, the first thing to do is to get more clients.
This can be done by either marketing yourself or networking with other businesses.
By working, harder and smarter, you will find more and retain more clients. This means taking on more jobs, learning new skills, and being efficient with your time.
Increase your Margin
Another way to increase your income is to bill more for your services. You can do this by becoming an expert in a certain area of freight shipping or by charging higher rates.
Additionally, you can work on becoming more efficient so that you can take on more clients and earn more commissions. Finally, try to focus on developing long-term relationships with clients so that you can continue to receive repeat business.
Ask for A Raise
There are a few ways to make more money as a freight broker. You can increase your base salary or commission rate.
Generally speaking, the more business a freight broker can bring in, the higher their commission rate will be. Then, asking for a raise will be easy.
Delegate Tasks
As a freight broker, you may be tempted to do everything yourself in order to save money. However, this can actually limit your earning potential.
By delegating administrative or back-office tasks to others (especially if you are a 1099 or licensed broker), you can free up more time to focus on sales and generate more revenue.
Location. Location. Location.
Location is key when it comes to freight broker salaries. The closer you are to a transportation hub, the more you can expect to make. Additionally, freight brokers in some states earn more than those in others due to differing registration fees, varying licensing and insurance requirements, and different local and state taxes.
Be Your Own Boss
In addition, by owning your own freight brokerage, you keep all of the profits. You will also have more control over the work that you do and who you work with.
This can lead to a more successful business and a higher earning potential.
Now, You Know How Much Freight Brokers Make
Is this the right career path for you?
There are many factors to consider. Many people love that these types of jobs can be done remotely and give you flexibility.
Freight brokers are in high demand due to the increasing popularity of freight shipping.
Freight broker salaries vary depending on a variety of factors, including experience, skills, and location. However, most freight brokers make a comfortable living.
Know someone else that needs this, too? Then, please share!!
How will artificial intelligence — Chat GPT and image-generating programs such as DALL-E — change the way the home furnishings industry does business? A handful of home décor executives, some of whom are experimenting with the technology and others who are still in watch-and-see mode, shared their thinking with Home Accents Today:
Jamie Merida
Bountiful Home
As far as it being an AI tool for writing and language, I don’t see it being an asset to us, but I am intrigued by AI photo generators as a brainstorming tool. Typing in a few prompts, like “pinecone toile” or “modern red living room” creates dozens of interesting results that could help sync a client’s vision with my design.
Maura Dineen
Creative director, Moe’s Home Collection
Moe’s is an innovative and forward-thinking company, always searching for new ways to approach our work. We’ve been utilizing AI across multiple teams, and Chat GPT has become another tool in our tool kit. Like any tool, it’s excellent for some things but not everything. Without giving anything away, we strive to provide a seamless experience using the most cutting-edge technologies, and Chat GPT is no exception. We’re excited to see how AI evolves in supporting our business.
Brian Berk
President, Howard Elliott Collection
I am not super familiar with the capabilities or limitations of Chat GPT. I think that it might be helpful for writing product content.
Brownlee Currey
President Currey & Company
It already has! Chat GPT can’t duplicate a specific written voice, but it is a whiz for keywording, formatting and laying out written documents. Personally, I’ve been using it since early this year to ease the writing process and get words on paper quickly. In the not-so-distant future, we will all be integrating software such as Chat GPT into our workflows, for a variety of purposes.
Alyssa Abrams
Marketing director, U.S., Eichholtz
At this time, no. We have an incredible team of customer service reps that are knowledgeable and friendly, but furthermore, are an extension of our brand experience. There is no replacement for human interaction when it comes to building relationships with customers!
Emma Lowry
Vice president of product development, Elk Home
Yes. Absolutely, there are a myriad of ways ChatGPT is going to change our business. I have been using it for marketplace analysis, meeting agendas and product descriptions. We are looking into how it could be used for digital marketing strategies, data analysis and the list goes on. We have also been playing around with DALL-E which generates AI images for new design concepts.
Pam Cain
President, Chelsea House
Chat GPT is one of the most mind-blowing technology releases I’ve seen, which is backed by both the number of users it’s generated quickly and the number of use cases it supports. Running a brand in the design industry requires a delicate balance of business savvy and design-eye, and there’s no doubt Chat GPT can make companies in any field more efficient and process-oriented. For every task it can easily handle, we free up more time to discover trends, design thoughtful and beautiful furnishings, and connect with our audience in meaningful ways. We’ve already begun using it!
Giovanni Marra
Director of marketing and digital strategy, Nourison
We’ve experimented with Chat GPT. It might help with research and some simpler tasks, but it can’t really write for you in your brand’s voice. It is interesting to test but we’ll keep focusing on our talented writers for our main content creation.
Shari Kline
Owner and creative director, TL at Home
If I’m being perfectly honest, I think I’d probably enjoy using it to help jumpstart the process of writing product descriptions. But I think overall it’s probably more insidious than helpful in the long run.
Monty Rathi
Chief operating officer, Kaleen
It’s an innovative idea and it definitely would help out our business as we continue growing. We haven’t experimented with it yet but we will soon, and we hope to find ways we could use it in the future.
Austin Craley
Vice president of sales, Loloi
I don’t know if it will be an asset, but it will change a lot in our industry, and quickly. Many jobs will become simpler and easier to do. The long-term implications are still to be determined.
Emily May
Director of advertising and public relations, Feizy
Yes, when you have a very small team, even having a rough draft of content created can be incredibly helpful. Some projects, like collection copy or brochure language for a specific program still require a lot of human oversight, but templated communications are a great way to embrace this new technology. I could really see this being helpful to distribute companywide communications, re-weather-related closures, changes in personnel and company policies.
Greg Jordt
Executive vice president Sales and marketing, Harounian Rugs International
The fact that I had to Google ‘ChatGPT’ probably tells you and me, that we will not be offering it any time soon. ChatGPT is a natural language processing tool driven by AI technology that allows you to have human-like conversations and much more with the chatbot. The language model can answer questions and assist you with tasks. At this time and in the foreseeable future, I don’t see how this technology will enhance the capabilities and the service of our current customer service department.
Ned Baker
Key account manager, Tamarian Rugs
I suppose it could be a tool for dealing with some of the “hard facts” of the rug industry; history, production info, sales/trend gathering, etc. But it seems to me there would be a limit in the creative aspects of the work and would remove the human interaction that is the “secret sauce” to the high-end rug market. I also feel something is lost in the “authenticity”, again, because the human element is removed. There is little left of a “journey” to achieve something, therefore less is learned, less is gained.
Save more, spend smarter, and make your money go further
Last month’s average temperatures nationwide were the second highest ever recorded, and July is showing no signs of relief. The hot weather paired with many large utilities already raising customer rates means that Minters could see their highest utility bills ever this year.
Luckily, there are steps you can take now to reduce the cost of cooling your home. So sit back, pour yourself a cold drink and take advantage of these tips to keep your utility bill from heating up.
Replace Your Air Filters
You should be replacing your air filters once a month, especially during the summer. Dirty filters restrict airflow, which means the air conditioner runs longer and uses more energy. Replacing a clogged filter will reduce your energy consumption by up to 15%! Buy several filters at once and create a recurring calendar reminder on your phone.
Cool Down Your Bed, Not The Room
Feeling hot when you try to fall asleep is uncomfortable at best, but running the air conditioning all night is the quickest way to a steep energy bill. Instead of turning down the temperature on your thermostat, consider purchasing a bed fan or cooling mat. Bed fans are special bed-height units that send cool air between your bed sheets, using much less energy than central air or a wall unit. Cooling mats use no energy at all! Just pop it in the refrigerator during the day, and place in your bed when you’re ready to turn in for the night.
Consider a Smart Thermostat
Your thermostat controls half of your energy bill, so any cost savings strategy deserves a long look at that tiny box on your wall. Thermostat innovator Nest reports that a correctly programmed thermostat – ones that make adjustments based on your activity – can save about 20% on your heating and cooling bill. In fact, average annual savings with the Nest Learning Thermostat is $173/year – with units costing around $250, you’ll see a return on your investment in your second year.
You can use Nest’s online tool to calculate how much money you can save based on your location, home size and system specifications. Even if you don’t have a smart thermostat, don’t forget: adjusting your temperature just one degree can cut your energy use up to 5%.
Get an Estimate for Radiant Barriers
If you live in a region with prolonged hot temperatures, updating your home’s insulation is a great option for reducing cooling costs for good. Radiant barriers – also known as reflective insulation – reflect heat away from the home.
Heat travels in three ways: conduction, convection, and radiation. Traditional insulation materials slow conductive and convective heat flow, but do not account for radiant heat that travels through your roof and into your house. Radiant barriers are easiest to install in new construction, but can be installed in your existing house, especially if it has an open attic. Studies show that radiant barriers can reduce cooling costs 5% to 10% when used in a warm, sunny climate.
What are some tips and tricks you use to keep things cool around your house? Share with us in the Comments or on Twitter with #MyMintTips.
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