When it comes to college towns in New Jersey, the Garden State boasts a bountiful harvest.
From the ivy-covered halls of Princeton University to the bustling city streets of Newark, each of the college towns featured below provides a unique blend of culture, history and educational excellence. In this article, we’ll take a closer look at some of the best college towns in New Jersey and the attributes that set them apart from the rest. Pick your favorite spot and find your new apartment community in a New Jersey college town.
You can’t have a conversation about college towns in New Jersey without talking about Princeton. This picturesque town, home to the prestigious Princeton University, is the epitome of collegiate charm. Nestled in the heart of New Jersey, this historic town is steeped in tradition and teeming with intellectual energy.
From the moment you set foot in Princeton, you’ll be surrounded by a palpable sense of history and knowledge. The storied campus of Princeton University, with its Gothic architecture and sprawling greens, is a sight to behold in and of itself. However, the town has much more to offer than just its prestigious school. Princeton’s bustling downtown is lined with quaint shops, cozy cafes and a variety of eateries, perfect for students and longtime locals alike.
For those interested in the arts, Princeton’s McCarter Theatre Center and the Princeton University Art Museum are must-visits. Overall, Princeton is a charming and inspiring college town that will leave you with a newfound appreciation for higher education and American history.
Home to Rutgers University, Piscataway is another one of the many vibrant college towns in New Jersey. This town is brimming with energy and enthusiasm, thanks to its diverse population and the university’s dedication to research and innovation.
Located near the Raritan River, Piscataway offers a variety of recreational opportunities. Students can unwind by taking a walk along the scenic riverfront, or visit one of the town’s many parks for a day of picnicking and relaxation. The Rutgers Gardens, a sprawling 180-acre botanical garden, is a great place to escape the hustle and bustle of campus life and soak up some natural beauty.
Foodies will appreciate the diverse dining options in Piscataway, ranging from mouthwatering international cuisine to comfort food at local diners. The town also has a thriving arts scene, with the Zimmerli Art Museum and the Rutgers Geology Museum offering unique and engaging exhibits. Overall, Piscataway provides a dynamic and enriching environment for students and visitors alike.
Newark is home to several colleges and universities, including Rutgers University-Newark, the New Jersey Institute of Technology and Seton Hall University. With such an eclectic mix of educational institutions, it’s no surprise that this bustling metropolis is a hub of intellectual activity.
In Newark, you’ll find a vibrant arts scene, anchored by the New Jersey Performing Arts Center and the Newark Museum of Art. The city also boasts an impressive selection of dining options, from gourmet restaurants to casual eateries, where you can savor the flavors of cuisines from around the world. Don’t forget to stop by the historic Ironbound District, known for its rich Portuguese and Brazilian heritage, and sample some of the delicious fare at the area’s many restaurants and cafes.
Newark is not just a center for the arts and gastronomy; it’s also a great place for sports enthusiasts. The Prudential Center, home to the NHL’s New Jersey Devils and various concerts and events, is a popular destination for locals and visitors alike. For those who prefer the outdoors, the beautiful Branch Brook Park offers a stunning display of cherry blossoms in the spring, as well as plenty of space for jogging, biking and so much more.
Situated on the banks of the Delaware River, Camden is home to Rutgers University-Camden and the Cooper Medical School of Rowan University. Despite its reputation as a city facing various challenges, Camden is a college town on the rise with a rich history and a promising future.
One of the city’s most significant attractions is the Adventure Aquarium, where visitors can get up close and personal with aquatic life. The nearby Camden Waterfront, with its stunning views of the Philadelphia skyline, offers a picturesque setting for a leisurely stroll. Another notable destination is the Battleship New Jersey Museum and Memorial, a fascinating exhibit that pays homage to the state’s proud naval history.
Camden is also home to a burgeoning arts scene, as shown by the city’s many colorful murals and the thriving Rutgers-Camden Center for the Arts. With its combination of history, culture and scenic beauty, Camden is an underrated and unconventional college town in New Jersey.
Madison is a picturesque town that houses Drew University and the College of Saint Elizabeth. This charming, tree-lined town is known for its historic architecture, quaint downtown and strong sense of community.
Downtown Madison is filled with unique shops, cafes and restaurants, providing a welcoming atmosphere for students and locals alike. The town’s commitment to the arts is evident in the Shakespeare Theatre of New Jersey, located on the Drew University campus, which offers engaging productions for theater lovers of all ages.
Nature enthusiasts will be delighted by the nearby Great Swamp National Wildlife Refuge or the close proximity to picnicking in one of the town’s many parks. With its rich history, vibrant arts scene and beautiful surroundings, Madison is a hidden gem among college towns in New Jersey.
Located just across the Hudson River from Manhattan, Hoboken is home to Stevens Institute of Technology, a prestigious engineering school. This lively city offers a unique blend of urban excitement and small-town charm, making it one of the most distinctive college towns in New Jersey.
Hoboken’s waterfront boasts stunning views of the New York City skyline, as well as numerous parks that pepper the waterfront area. The city’s vibrant downtown is packed with trendy boutiques, delectable restaurants and lively bars, making it a popular destination for students and young professionals.
As the birthplace of Frank Sinatra, Hoboken has a strong musical heritage that is still evident today. The city hosts various live music events throughout the year, and local bars and clubs often feature up-and-coming musicians. With its close proximity to New York City and its own unique charm, Hoboken is an undeniably exciting and dynamic college town.
Nestled at the foot of the Watchung Mountains, Montclair is home to Montclair State University, one of New Jersey’s largest public universities. This picturesque town is known for its vibrant arts scene, diverse dining options and beautiful natural surroundings.
Art lovers will appreciate the Montclair Art Museum, which showcases an impressive collection of American and Native American art. The town is also home to numerous art galleries and performance spaces, including the Wellmont Theater and the Studio Playhouse, which host a variety of concerts, plays and other live events.
Montclair’s downtown is filled with eclectic shops, cafes and restaurants, offering a taste of cuisines from around the globe. For the outdoorsy types, the town’s many parks and nature reserves provide ample opportunities for hiking, biking and taking in the stunning vistas in peace.
There’s a new apartment in a New Jersey college town just for you
From the charming streets of Princeton to the lively waterfront of Hoboken, the best college towns in New Jersey perfectly cater to students, residents and visitors alike. Each of the towns mentioned above boasts its own unique blend of history, culture and natural beauty, making them perfect destinations for those seeking both intellectual stimulation and a taste of the quintessential college-town atmosphere.
Whether you’re a prospective student, a curious visitor or a lifelong resident, we encourage you to explore these enchanting college towns in New Jersey and discover the boundless opportunities for growth, inspiration and fun that they each have to offer.
The Federal Housing Administration (FHA) submitted for public comment on Wednesday its proposal to create a new partial claim option, a result of its acknowledgment that its current loss mitigation toolkit isn’t enough to support struggling borrowers as rates surge.
The Payment Supplement Partial Claim will allow servicers to use the FHA partial claim to bring a borrower’s home loan current and temporarily reduce their monthly payments for a period of three to five years. Trade groups, servicers and industry experts support the initiative.
HousingWire reported in February that housing leaders were working on successors for Covid-19 partial claims. The deadline for feedback on the single-family policy drafting table is June 30, 2023.
A partial claim is an interest-free loan from the U.S. Department of Housing and Urban Development (HUD) that borrowers can use to make their mortgage current. The remainder of the late payments are then added to the principal balance and extended for 30 years at a fixed rate.
However, the FHA’s proposal allows borrowers to keep their existing interest rate and reduce their monthly payments temporarily by using funds from the partial claim, which comes from the FHA mortgage premium. Homeowners then pay the FHA back when they sell their homes or refinance their loans.
Just a few years after the start of the Covid-19 pandemic, borrowers are facing other hurdles, such as high inflation and increasing mortgage rates. Surging rates force borrowers in default to modify their loans at market rates that may be higher than their current rates, the FHA says.
“Many homeowners continue to experience hardships due to health or financial difficulties that occurred during the pandemic, and these challenges have been exacerbated for these and other borrowers by current economic uncertainties,” Julia Gordon, HUD’s assistant secretary for housing and the federal housing commissioner, said in a statement.
“When we saw that our existing loan modifications were no longer providing adequate payment relief, our team painstakingly explored every possible alternative to provide relief in the current rate environment, resulting in this innovative proposal,” Gordon added.
According to the draft proposal, mortgagees have provided over 1.3 million COVID-19 loss mitigation actions to borrowers since the start of the COVID-19 pandemic. On January 30, HUD extended and expanded its loss mitigation options.
In reaction to the new proposal, the Community Home Lenders of America (CHLA) explained that rising mortgage rates create problems for Ginnie Mae issuers carrying out loss mitigation for defaulted FHA borrowers.
Typically, issuers implement loss mitigation by buying an FHA loan out of a Ginnie Mae pool, modifying the loan, and then selling the loan back into a pool. However, Ginnie Mae issuers are facing an increase in mortgage rates that could make it challenging to carry out the loss mitigation or the re-sale of loans into Ginnie Mae pools at steep losses to the issuer.
“The skyrocketing of mortgage rates has undermined FHA’s main loss mitigation tool for helping distressed borrowers – and FHA’s nimbleness in finding a workaround for this will be greatly appreciated by distressed homeowners,” Scott Olson, CHLA’s executive director, said in a statement.
Are you considering embarking on a “do it yourself” project to remodel your home? While the idea of taking on a DIY project can be exciting and cost-effective, it’s important to be aware of common mistakes that homeowners often make during the remodeling process. Whether you recently purchased a home using Redfin in Irvine, CA, or are planning on upgrading your Albuquerque, NM, home, we have put together a list of common DIY remodeling mistakes to provide you with valuable tips on how to steer clear of them
1. Neglecting building codes and permits
One of the most critical mistakes homeowners make is failing to pay attention to building codes and permits. Even if you’re not required to obtain a permit for your project, it’s essential to adhere to building codes and best practices. Neglecting these guidelines can lead to issues when it’s time to sell your home, potentially derailing the sale or necessitating costly after-the-fact permits and demolitions. Remember, pulling a permit is crucial, even if you’re tackling the work yourself.
To ensure compliance with building codes, contact your local building department to determine whether you need a permit for your project. While obtaining a permit may be an inconvenience and incur expenses, it’s vital to prioritize safety, protect your investment, and maintain the well-being of your community. If your project involves specialized knowledge, such as building a deck, consult an expert who understands local codes, structural load requirements, and can provide the necessary expertise for a safe and sturdy structure.
2. Using cheap materials
Trying to cut costs by using cheap materials is a common pitfall during DIY projects. While it’s understandable to keep your budget in mind, compromising on material quality can lead to higher maintenance expenses in the long run. Prioritize quality when selecting materials to ensure your project withstands the test of time and avoids costly repairs or replacements down the road. Research different options, compare prices, and choose materials that strike a balance between affordability and quality. Investing in higher-quality materials upfront will save you money and headaches in the future.
3. Underestimating project time
Underestimating the time required to complete a project is another frequently encountered mistake. This oversight often results in rushed work, suboptimal outcomes, unexpected issues, and last-minute calls for professional help, leading to additional expenses. When estimating the duration of your DIY project, seek guidance from experienced professionals and allocate twice the allotted time. Take the time to create a detailed project plan. Break down the tasks involved, allocate realistic timeframes for each step, and add extra time as a buffer for unforeseen challenges. By setting realistic expectations and allowing ample time for each stage of the project, you can ensure a smoother and more successful remodeling experience.Doing so will alleviate stress and ensure that your project is completed to the best of your ability.
4. Taking on more than you can handle
Attempting tasks that require specialized skills without the necessary training can be detrimental to both your budget and personal safety. Professionals like design/build firms, plumbers, HVAC specialists, and electricians have honed their skills through years of education and training. If you’re unsure about your ability to handle a particular aspect of the project, it’s best to reach out to local home remodeling companies or maintenance specialists for assistance. While it may seem like a cost-saving measure initially, taking on more than you can handle can result in expensive remodeling mistakes and compromise the overall success of your project. It’s crucial to prioritize safety and the longevity of your investment by relying on professionals who can bring their expertise to the table. Remember, what makes a project truly complete lies in the attention to detail provided by experienced tradespeople.
5. Hiring unlicensed contractors
Opting to hire unlicensed contractors, often friends or acquaintances, in an attempt to save money can have serious repercussions. Homeowners frequently encounter incomplete projects or dissatisfaction with the final results when working with unlicensed contractors. This often necessitates hiring licensed professionals to fix or replace the work, resulting in additional costs. Understand the importance of hiring licensed contractors from the start to ensure the successful completion of your project. If you opt to hire a license contractor, here are 7 vital questions you should ask them before starting any home improvement project.
6. Failure to plan in advance
To avoid unexpected expenses and change orders during construction, it’s essential to plan ahead and select your finish materials before requesting bids from contractors. Costs for items like cabinets, flooring, and tile can vary significantly, and failing to specify these materials can lead to underbidding or overbidding by contractors, making it difficult for homeowners to compare bids or financially prepare for the project. Plan your project meticulously, double-checking all materials and products for size, style, and content before commencing construction. By doing so, you can minimize time, frustration, and waste while ensuring you have sufficient supplies throughout the project.
7. Inadequate space planning
Poor space planning can lead to various issues, such as clashing doors, uneven floor transitions, or inadequate clearances in kitchens and bathrooms. Take the time to create accurate scale drawings, models, or full-size mock-ups of your project. This proactive approach allows you to identify and address potential problems before construction begins, as rectifying these issues afterward can be challenging or sometimes impossible.
8. Relying on TV portrayals
TV shows often portray DIY projects as smooth and effortless, downplaying the challenges and difficulties involved. Homeowners who underestimate the complexities of these projects may find themselves overwhelmed and ultimately seek professional help after encountering setbacks. Keep in mind that real-life projects rarely unfold as seamlessly as they do on television. Be prepared to invest time, effort, and research to achieve the desired outcomes and avoid any remodeling mistakes.
9. Inaccurate measurements
Accurate measurements are essential for the smooth progress of any remodeling project. Inaccurate measurements can lead to significant delays, complications, and even costly mistakes. Whether you’re replacing windows, installing plumbing fixtures, or working on other aspects of your project, taking the time to measure carefully and accurately is crucial. Take the time to measure carefully and seek guidance from professionals or experts, they can provide you with valuable advice, tips, and techniques to obtain precise measurements, mitigating the risk of errors and ensuring a smooth progression of your project. Remember, accuracy in measurements is a fundamental aspect of successful remodeling, and investing time and effort into this task will save you time, money, and frustration in the long run.
10. Insufficient bathroom waterproofing
Properly waterproofing your bathroom is of utmost importance before embarking on a DIY remodel. Neglecting this critical step can lead to significant and costly water damage in the long run. Bathrooms are exposed to high levels of moisture, and without effective waterproofing, water can seep into the walls, floors, and substructures, causing mold growth, rot, and structural issues. Additionally, water damage can extend beyond the bathroom itself, affecting adjacent rooms and compromising the integrity of your home. By ensuring thorough waterproofing, you not only protect your investment but also create a safe and healthy environment in your home. It is worth investing the time and effort to get it right, either by hiring a professional or conducting extensive research to ensure proper installation of waterproofing materials and techniques.
By familiarizing yourself with these common DIY remodeling mistakes and the corresponding preventative measures, you can approach your home improvement project with confidence. Remember, it’s essential to prioritize safety, follow building codes, allocate sufficient time, and seek professional help when needed. With proper planning, attention to detail, and the right approach, you can achieve a successful DIY remodel that enhances your home while avoiding costly mistakes.
How would you describe your interior design style? Are you more drawn to the clean lines and neutral color palette of a modern home, or does your space have the personality of a rom-com main character? Perhaps you prefer to keep things cozy all year long, or maybe you’ve designed your space to look like a palace with luxurious decor and vintage Victorian pieces. Whatever your vibe may be, your aesthetic is an extension of who you are. But interior design isn’t just a form of expression — according to an expert, your decor style may be tied to the stars. So if there’s an interior design style you’ve always felt spiritually connected to, this may be why.
If you have an outgoing, energetic disposition, you’ll probably be drawn to the eye-catching, over-the-top appeal of a maximalist home. If you’re more reserved, then you’ll likely feel at home in a comfy, cozy apartment that feels straight out of a movie. HomeGoods Style Expert Stephanie Watkins shares which home decor aesthetics best represent each sign based on their characteristics and preferences, so the next time you’re in the mood to give your home a total makeover, you can model your new design style around this list.
Taurus (April 20 – May 20)
Gladiathor/E+/Getty Images
Taureans aspire to live in the lap of luxury, and having a house that looks like a mansion is one of the ways they’re able to make their dreams come true. “[Taureans’] homes are relaxation havens for the mind and body, often featuring comfortable seating in lush fabrics, classic wingback chairs, luxurious decor, and spa-like touches,” says Watkins.
Gemini (May 21 – June 20)
gremlin/E+/Getty Images
Watkins describes Geminis as “maximalists,” and shares the sign is always “trying new trends and creating an eclectic home” with bright colors and bold patterns.
Cancer (June 21 – July 22)
Goodboy Picture Company/E+/Getty Images
Cancers are homebodies to their core, and because they spend so much time at home, they want their space to be cozy yet nostalgic with plenty of photos, memorabilia, and family heirlooms.
Leo (July 23 – Aug. 22)
Vostok/Moment/Getty Images
Leos live a glamour-filled life, and their homes are no exception, per Watkins. “Leo’s homes are glamorous, bold, and filled with impactful furniture and art,” says the expert. “They love to use lavish and ornate furniture and decor, with elaborate color and patterns that show off their unique style.”
Virgo (Aug. 23 – Sept. 22)
onurdongel/E+/Getty Images
If you know anything about Virgos, you know they’re all about organization. As a result, Watkins explains the earth sign gravitates towards “pieces that have both function and style,” like benches with storage or aesthetically pleasing bins.
Libra (Sept. 23 – Oct. 22)
onurdongel/E+/Getty Images
As the sign of the scales, Libras strive for harmony and balance not just in their personal lives, but in their home decor, too. Per Watkins, the air sign is able to create a “symmetrical yet welcoming home environment that focuses on others and their needs.” This is accomplished with modern and neutral decor “to enhance the zen of their space.”
Scorpio (Oct. 23 – Nov. 22)
Vostok/Moment/Getty Images
“Scorpios thrive on the unexpected,” says Watkins. “This translates to a home that feels refined but rooted in a warm, modern, yet classic, style. They are drawn to sensuous, tactile elements of the home. They’re often attracted to velvet chairs and sofas, soft and plush wool pillows, silk decor, and high thread-count bedsheets.”
Sagittarius (Nov. 22 – Dec. 21)
Hugo Goudswaard/Photodisc/Getty Images
Sagittarians are known as the adventurer of the zodiac, so you can expect their homes to be filled with unique decor pieces from their travels, as well as natural elements such as planets to bring the outside world to them. Watkins recommends using accents like printed rugs, dip-dyed vases, and bright patterns to introduce a “worldly influence to the home.”
Capricorn (Dec. 22 – Jan. 19)
Boris SV/Moment/Getty Images
The pragmatic sign of Capricorn prefers to “decorate with items that have value and function, with a heavy emphasis on reliability and practicality,” Watkins tells Bustle. Because they like their space to feel “organized and minimally styled,” the earth sign is typically drawn to sleek minimal furniture and Scandinavian styling and decorating, per the expert.
Aquarius (Jan. 20 – Feb. 18)
AJ_Watt/E+/Getty Images
Natural elements like plants and wood-based decor are a must for Aquarians, and designing their space in a way that’ll make others feel at home is a given for the community-centric air sign, too. Watkins explains that Aquarius achieves their “thoughtful” guest room setups by providing an extra pair of bedsheets or even a carafe for water on the nightstand.
Pisces (Feb. 19 – March 20)
stevecoleimages/E+/Getty Images
Pisces value their serenity and downtime, which is why their homes are covered in calm, cozy decor pieces like “candles, plush, velvet blankets, and chenille textured pillows,” per Watkins. The water sign within them also feels a connection to the Coastal aesthetic, so if you’re crashing at your Pisces bestie’s apartment, be prepared for plenty of beachy colors and peaceful decor.
Another week, another record low for mortgage rates. It’s all becoming rather humdrum at this point.
Really, how excited can you get about a record that repeatedly gets broken with relative ease in a short span of time?
The other side of the coin is mortgage lenders are busier than they’ve ever been, prompting a possible Quicken Loans IPO, and scores of homeowners are taking advantage of the lowest mortgage rates on record.
It’s a win-win for these two groups, but how do you approach this interest rate environment as a borrower? Let’s discuss.
Fresh Record Low for the 30-Year Fixed
The popular 30-year fixed fell to 3.13% this week per Freddie Mac
This is a new record low that stretches back nearly 50 years to 1971
It was 3.21% last week, so while lower, it’s not a major improvement
The big question now is how low will mortgage rates go?
This week, interest rates on the 30-year fixed mortgage hit a new low, falling to 3.13% from 3.21%, per the survey released this morning by mortgage financier Freddie Mac.
Their records date back to 1971, so we’re talking the lowest mortgage rates in nearly 50 years, which is certainly a big deal.
Of course, the previous record low for the 30-year fixed was 3.15% during the week ending May 28th, so it’s not like we had to wait long.
And the difference in rate is literally negligible, meaning it really wouldn’t affect a borrower’s pocket in one way or the other.
However, the Freddie Mac survey is just a survey, a composite of lender rates from a variety of companies collected throughout the week.
The important thing here is that mortgage rates are trending lower, and are expected to stay low for some time, likely throughout 2021.
That brings up an important question – if you’re an existing homeowner, do you refinance your mortgage today, or do you wait for a new record low, which is sure to come along?
Yes, There Will Be Another Record Low for Mortgage Rates Soon
Mortgage rates are clearly trending downward as they have been for some time
They will probably hit additional record lows in coming weeks and months
This includes the 15-year fixed mortgage, which is also very close to breaking a new record
That means you have to give a refinance some real thought to ensure it’s the right move
Here’s the deal – we know mortgage rates are at record lows, but that doesn’t mean they’ve hit their bottom.
As such, you’ve got to determine if now is the right time to refinance, or if it could pay to wait.
There are basically two schools of thought here. One could argue that rates are already rock-bottom, and likely won’t move much lower.
Even if they do get better, we might be talking about marginal improvements. Just look at the new record low achieved today, 3.13%, a paltry two basis points below the old record low.
Again, that would basically do nothing to change your mortgage rate or even your closing costs.
The other perspective is this mortgage rate rally could have a lot more in it, and the 30-year fixed could well be in the mid-2% range or even lower at some point in the next few months.
Assuming that’s the case, waiting to refinance could be quite beneficial, as a move from 3% to 2.5% is a lot more significant, especially if you’ve got a sizable loan amount.
If you don’t think such a low rate is in the cards, consider the fact that one lender already started offering a 2.5% 30-year fixed last month.
Those who aren’t sure could just refinance today and then keep their eye on rates for a second refinance in the near future (how soon can I refinance my mortgage?).
Just be conservative when it comes to paying mortgage points because you won’t want to sink a bunch of money into a mortgage that only lasts months as opposed to years or decades.
That would probably be my hedge at the moment – take the lower mortgage rate today, but don’t pay for that rate, or pay extra to buy it down even lower.
One last thing – the 15-year fixed mortgage is also rapidly approaching a new record low itself, having fallen to 2.58% this week, per Freddie.
It reached 2.56% at its lowest point in history on May 2nd, 2013, so chances are we’ll be talking about a new record in coming days or weeks.
Those who are interested in paying down their mortgage fast might want to also consider the 15-year fixed as an alternative to the 30-year fixed to avoid resetting the clock.
Of course, with interest rates so low and the dollar expected to suffer from some serious inflation, you might say what’s the rush?
Read more: Use These Mortgage Charts to Easily Compare Rates
When it comes to college towns in Wyoming, the state has a lot more to offer than just beautiful landscapes and natural wonders.
Wyoming boasts several bustling cities that are home to thriving academic institutions. In this article, we will explore the best college towns in Wyoming, where you will find the perfect blend of educational opportunities, recreational activities and engaging local culture. Buckle up, tie your hiking boots tight and join us on this journey to discover the hidden gems of Wyoming’s academic landscape.
Nestled between the Snowy Range and the Laramie Range, Laramie is often considered the crown jewel among college towns in Wyoming. Home to the University of Wyoming, the city has a thriving student community. As the state’s flagship university, UW provides high-quality education and a myriad of research opportunities. The University of Wyoming Art Museum and the American Heritage Center contribute to the enriching cultural experience students can expect while pursuing their studies here.
Beyond academics, Laramie offers a ton of recreational resources that cater to a wide range of interests. The city is a haven for outdoorsy types, boasting easy access to hiking, biking and skiing trails. During the warmer months, students can take a break from their studies and embark on scenic excursions along the Medicine Bow-Routt National Forest or the Vedauwoo Recreation Area. Meanwhile, downtown Laramie offers an eclectic mix of local shops, eateries and entertainment venues, where students can unwind and socialize after a long day of classes.
As the second-largest city in the state, Casper is a thriving college town in Wyoming and home to Casper College. This college offers a range of degree programs, making it an ideal choice for students looking to pursue higher education in a smaller city setting. Casper College prides itself on its strong ties to the community, and the campus provides a close-knit, nurturing environment for students to grow both academically and personally.
Casper boasts a lively atmosphere with numerous attractions to keep students entertained during their downtime. The city is home to the National Historic Trails Interpretive Center, which offers a fascinating glimpse into the region’s rich history. For art enthusiasts, the Nicolaysen Art Museum features contemporary and modern art from local and national artists alike. With the North Platte River running through the heart of the city, students can also enjoy a variety of outdoor activities, like fishing, kayaking and hiking along the river’s picturesque banks.
Located near the Bighorn Mountains, Sheridan is another noteworthy college town in Wyoming. This charming city is home to Sheridan College, a part of the Northern Wyoming Community College District. Sheridan College offers a broad range of academic programs and is known for its strong commitment to workforce development, preparing students for careers in various industries. The college’s beautiful campus, nestled in the picturesque landscape, provides a serene environment for students to focus on their studies.
Sheridan has a rich history, which is reflected in its vibrant downtown area. The Historic Main Street District offers an enticing mix of shops, galleries and restaurants, perfect for students looking to unwind and explore local culture. Outdoor enthusiasts will also find plenty to do in Sheridan, as the city is surrounded by breathtaking natural scenery. Students can take advantage of the nearby Bighorn National Forest for hiking, camping and fishing or head to the Antelope Butte Mountain Recreation Area for skiing and snowboarding during the winter months.
Situated in the heart of Wyoming, Riverton is yet another flourishing college town that offers a unique blend of cultural and educational experiences. Central Wyoming College, provides various academic programs and an emphasis on workforce training. With its commitment to student success, Central Wyoming College offers a supportive and stimulating learning environment for students from all walks of life.
Riverton’s culture is greatly influenced by its proximity to the Wind River Indian Reservation, which is home to the Eastern Shoshone and Northern Arapaho tribes. This cultural diversity enriches the city and presents students with the opportunity to learn about and engage with the region’s indigenous heritage. Riverton’s vibrant downtown area offers a lively array of shops, restaurants and galleries, while the annual Riverton Rendezvous festival brings the community together for a celebration of the city’s unique history and heritage. With its picturesque location near the Little Wind River, students can enjoy various outdoor pursuits, including fishing, hiking and wildlife watching.
Located in the northwest corner of Wyoming, Powell stands out among college towns in Wyoming for its strong focus on agriculture and natural resources. Northwest College offers a diverse range of academic programs, with particular emphasis on agricultural and environmental studies. The college’s commitment to hands-on learning and research ensures that students receive a well-rounded education that prepares them for success in their chosen fields immediately after graduation.
Powell’s close-knit community and small-town charm create a welcoming atmosphere for students. The city’s historic downtown area features a delightful assortment of shops, cafes and restaurants that cater to a variety of tastes. Outdoor enthusiasts will appreciate the city’s proximity to the Shoshone National Forest and Yellowstone National Park, which offer a wide range of recreational activities, from hiking and camping to wildlife watching and photography.
Why not settle down in a Wyoming college town?
Wyoming’s top college towns offer students a diverse array of academic, cultural and recreational experiences. From the bustling city of Laramie to the charming and historic town of Sheridan, each college town above has its own unique character and appeal. These cities provide the perfect backdrop for students to pursue their academic goals while also enjoying an engaging and fulfilling college experience. Pick your favorite city and find your new Wyoming apartment today.
Inside: The summer months are a great time to cash in while teachers get paid. Here are some tips to maximize your income as a teacher.
The school year is almost over, and soon students will be heading off to summer vacation. But how about teachers?
Teachers are expected to start getting paid in the summer too- or at least that’s what we’ve been told. However, some believe there may not be enough money for this extra pay out of pocket if all schools do it by themselves.
So now I want you to think back on your child’s teacher from last school year – did they get paid in the summer?
Summer is here, and it’s time for teachers to ask “do I get paid in the summer?”
The answer depends on your state. The following are guidelines for what teachers should expect from their employer during the summer break as well as tips to maximize their paychecks.
What is the average salary for a teacher?
The average salary for a teacher varies depending on the country, level of education, and years of experience. However, a teacher’s salary is typically lower than other professions with similar levels of education and experience.
This is the unfortunate truth for the teaching profession. Truly I believe teachers deserve to be paid higher as they are guiding our future generations.
On average, the national classroom teacher salary was $65,090 for the 2021-21 school year, according to the National Education Association.
This varies depending on the factors mentioned above, such as degree attained and experience level.
average salary for a teacher Examples
Using the same data from NEA, let’s look at some examples.
For example, the average teacher salary in California is $84,531 per year, which California ranks 2nd highest for average teacher pay among 50 states. Illinois starting salary is $68,083 and ranks #12 in the nation.
Whereas, Arizona’s teachers survive on a starting salary of $50,782 ranking #26 in the nation. In Colorado, the average starting salary for teachers is a pitiful $35,292 ranking #48 in the nation.
Do teachers get paid in the summer?
There is no one answer to this question because teacher salaries can vary depending on the state or country in which they work. In some cases, teachers may get paid during the summer months, while in other cases they may not.
Most teachers in the United States are paid over a 12-month period.
During that time, they work 10 months and receive a paycheck for those 10 months. For the other two months, they do not get paid since they’re on summer vacation. However, there is an option to have a 12-month pay cycle where teachers are paid all year long.
Alternatively, some teachers choose to have a 10-month pay cycle where they only receive paychecks during school hours. This can be difficult because budgeting is hard when you’re only getting paid during certain times of the year. You’ll likely spend more money than you make during those eight weeks of summer vacation!
The 12-month pay structure is an option for any teacher that wants to collect their salary all year long. It is important to note that this alternative might come with less money per month, but it spreads out the income evenly throughout the year. Teachers should schedule their pay dates around the year so they make a consistent amount of money throughout – more on that shortly.
Teachers need to be careful when structuring their pay dates during the summer because they’ll likely spend more in that time period. It is important to understand how your pay is structured so you can plan accordingly.
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.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
Find out TODAY if this is THE business you’ve been looking for.
How many weeks do teachers get off?
Teachers in the United States typically get a total of around 13 weeks off over the course of the entire school year. The summer break is typically six to eight weeks long, and most teachers use their winter break and spring break to take some time off as well.
What do teachers do during the summer?
During the summer, teachers have a lot of time on their hands compared to the school year. They can take up new hobbies or just relax and enjoy the break!
Teachers often take a summer break to do things they enjoy. They might go traveling, spend time with their family and friends, or just relax by the pool.
Find 17 more ideas on what teachers do in the summer.
What do teachers do in the summer for money?
Teachers typically either work in the summer or take a break without working.
Depending on their profession and geographical location, some teachers will find jobs during the summer while others will not. Some may also teach for a summer school or choose from one of the ideas below.
What are some ways to maximize income during the summer months?
There are a few different ways to make the most of your income during the summer months.
First of all, many teachers find that this is the best time to enjoy a getaway from the school system. They want to have their downtime, decompress, and relax.
Financially speaking, you must be prepared with your budget to make the most of your paychecks.
Plan ahead
Depending on how you opt to get paid during the summers is important. If you choose the larger paychecks over 10 months, then you need a plan for money when your checks stop for the break. If you keep your pay consistent throughout the year, then you may want to work on cutting back on certain expenses since you have more time over the summer.
Teachers can have the same schedule as their children. This gives them a chance to spend more time with them and see them in a different environment than at school.
Many times, teachers are not going to complain about a summer schedule that has flexibility and is similar to those of their kids. They know that they need to arrange ahead and structure their schedule correctly in order to take advantage of the time they have outside of work.
Most teachers put in a lot of hours, but it’s worth what they get out of it because they enjoy teaching and being with children.
Have a money saving goal in place
This is especially true if you do not receive paychecks during the summer. You need to have money saved up to cover any summer expenses.
A great idea is to create a summer savings account to accrue funds for when school breaks for the session. This choice allows teachers to save money that will be automatically deducted from their checks throughout the year and deposited into a different account, which will earn interest.
In order to make this work, it is important that teachers choose banks that are not convenient and do not offer online access as the temptation may be too great and cause unwanted withdrawals from the fund.
Understand your work life balance
Teachers work long hours throughout the week. The statistics vary on exactly how many hours. However, there is a consensus the number of hours has increased since 2020 (source).
For a teacher, their working hours include school-related activities like conferences and staff meetings, which can include teaching extracurricular programs like club soccer or lesson planning for new teachers. Oh, and don’t forget their main focus is to teach our children.
While it is important to maximize income during the summer months, it is also important to find a job that does not require so much time and energy. A summer job can be more of a lifestyle choice than just an employment opportunity. A summer job can be physically draining and require you to work long hours and to live with the same mindset year-round. Some jobs are easier during the school year due to shorter days, fewer students, or less paperwork.
For others, their time freedom is more important than living on a tight budget.
How can teachers make extra money during the summer?
Teaching jobs are plentiful during the summer months when kids are home from school.
Also, this may be a great time to invest in furthering your education, garner new skills to change industries, or start a side hustle.
Many teachers take on a side job during the summer to make some extra money. This is especially true for newer teachers looking to pay off student loan debt. The most common option is to become a private tutor, but there are plenty of other ideas.
There are many different ways for teachers to make extra cash during the summer. So, let’s get you some extra cash ideas!
Idea #1 – Get paid to tutor students over the summer
Private tutors are the most common side job for teachers. If you’re already a great teacher, you’ll have no trouble getting referrals and growing those classes.
You can also look into online tutoring, which has exploded in popularity recently. Tutoring is a flexible summer job for teachers who want to keep their skills sharp.
Here are some places you can find work as a teacher: Skooli, TutorMe, Aim-for-A Tutoring, and more.
You could make up to $50 an hour tutoring students. There are also plenty of summer job opportunities for teachers who want to stay connected with their students during the summer.
Tutoring is a great way to make extra money for teachers year-round.
Idea #2 – Take on a part-time job
If you’re looking for ways to make extra cash during the summer, consider taking on a part-time job. There are many opportunities available, and the pay is usually good.
As an example, a teacher who has been teaching for 14 years, every summer he takes on an additional job to make up for the low pay he receives during the school year. He has money taken out of his summer pay every week to supplement it during the school year months.
There are many opportunities in retail, restaurants, construction, and other fields. There is a great need for part-time people making wages over $17 an hour.
Idea #3 – Teach summer classes
Another popular option for teachers who want to make extra money is teaching summer classes.
Many parents are worried about their kids losing previously learned information and practice the entire summer to improve retention rates. In addition, many school districts offer summer classes to help students retain information.
Check with your local school district to see options.
Idea #4 – Search for seasonal work
As the school year comes to a close, many teachers are looking for ways to make money during the summer. Fortunately, there are a number of options available with seasonal jobs starting to come available. In addition, many are outdoors and you can enjoy the sun and some fresh air!
Teachers can also look into manual labor-type jobs or summer camps for income in the summertime.
Most of these types of jobs start hiring during the slow winter months. So, make sure to apply early and have something set up before the school term ends.
This is great for someone who wants an early morning job!
Idea # 5 – Professional Development
The concept of being willing to learn is important for teachers. It’s one reason why taking on professional development courses during the summer can be so valuable. Working through professional development courses during the summer can also give you an edge when it comes time to look for a new teaching job.
However, this is how you earn a higher salary year-round.
Teachers can increase their earnings by holding a master’s or doctoral degree. Some states pay teachers with master’s and doctoral degrees higher wages than others. This is how you increase your hourly wage.
Idea #6 – Sell Lesson Plans
Yep, this one is becoming even more and more popular!
Why should you let all of your great lesson plans just sit aside during the summer? Start hustling and sell your lesson plans for the cash.
Etsy is a great place to start.
Idea #7 – Start a Side Hustle
What is a side hustle? It’s something that you can do to supplement or replace the income from your main job, like running an eBay shop during the summer when you’re not teaching. Or even your own blog?
Think about the hobbies you enjoy and see if you can make money by doing something you enjoy. That is a great place to start!
Here are great ways to make money on the side:
It is possible to make more money on your business than you make more money in your current job or career.
Idea # 8 – Learn to Make Money From Stocks
If you’re interested in learning how to trade stocks, this is the perfect place to start.
One former assistant principal, Teri Ijeoma, changed her life when she left her job as an educator and become an active trader.
What is a day trader or swing trader? It’s someone who trades stocks on the stock market but knows when to get out.
You can also make money as a swing trader by taking advantage of fluctuations in stocks. For example, you can make money as a swing trader by buying stocks at the low point and selling them at the high point.
If you are interested in swing trading stocks, you must get an investing education. Most of my fellow traders are former teachers after taking the Trade and Travel investing course.
Idea #9 – Work at a Summer Camp or other Child Care Jobs
There are many ways for teachers to make extra money during the summer and have fun by working as camp counselors.
There are also many child-related jobs that need great employees when kids are home from school due to summer break. Some parents will keep their children busy throughout the summer, but others are worried about what they have learned in school and may soon forget.
Also, many families are looking for nannies while their children are out of school. Parents want teachers to play a role in helping them with school retention throughout the summer, and not be behind in August or September.
Most of these jobs will pay higher because they prefer a licensed teacher.
Idea #10 – Offer to give people rides or any personal assistant help
You can make money by giving people rides in your car. For example, you could offer to pick up strangers at the airport and take them to their hotel or host a taxi service.
You could be a personal assistant and help with chores or errands around the house.
People are always looking to outsource things and you could easily make some extra side money.
This is a good list of ideas for teachers to make money during the summer.
What are some tips for budgeting during the summer months?
Summertime is a great opportunity to relax and take a break from work, but it can also be a time to save money and prepare for the next school year. Many educators receive a paycheck during the school year but don’t have regular income over the summer. This makes it important to budget throughout the year, so you can have enough money saved up when school starts again.
Budgeting can be a stressful process.
However, budgeting should not be about cutting corners or reducing spending, but rather about creating financial freedom for the long term. The tips in this article are actionable and will help attain financial independence for the future.
Some tips for budgeting during the summer months include setting a budget for the summer months, creating a savings goal, and cutting back on expenses.
It is important to remember that many people are traveling and spending money during the summer months, so it’s important to be smart with your budgeting decisions. By following these tips, you can make sure that you have enough money saved up when school starts again!
Tip #1 – Create a budget for the summer months
Budgeting during the summer months can be difficult for those without consistent pay. However, it is possible to do with some creativity and planning. Here are a few tips:
Create a budget for $500 less a month than your paycheck. This may seem challenging, but it is possible if you make cuts in specific areas.
Save that $500 for your current saving goals.
Look at expenses that you don’t care to spend money on and cut them out.
House hack your vacation spots by house-sitting for someone else!
Be more realistic about how much you spend during the summer.
Make sure you are reaching your long-term goals.
Budgeting can be made easier with the help of planning ahead and keeping a buffer of money available.
Tip #2 – Save money during your summer break
There are many ways to save money during your summer break.
Saving money can be difficult, especially during the summer when you may have more free time.
It is important to organize your finances and set a budget before spending so that you are not surprised.
It is important to allocate the money saved into long-term goals or savings accounts so that you can reach them one day!
You can start by taking advantage of many of our popular money saving challenges:
Tip #3 – Find Ways to Make Extra Cash
There are many different ways to make extra cash during the summer months. In fact, we detailed many options above.
This is the perfect time to make extra money. As we outlined already, many teachers are severely underpaid for the work and dedication they put in. So, you might as well find a way to make extra money now and then get back to what you love during the winter months.
Many teachers find other ways to make extra money during the summer. Some work in summer school, while others take on private students. Still, others find work in professional development courses. Whatever route you decide to take, be sure to keep learning and growing as a teacher. That’s the best way to maintain your edge in the competitive job market.
Tip #4 – Find free fun!
Another tip is to make a list of summer activities that are affordable and fun.
Here is a little secret… you do not need to spend a fortune in order to have fun. In fact, there are plenty of things to do with no money!
Stretch your budget by picking a few higher ticket items and supplement the rest with free fun!
How do you spend summer break?
Most teachers would agree that the summer break is necessary to avoid burnout during the first six weeks of school. The summer break also gives students and teachers a chance to recharge their batteries and start the new school year fresh.
The teachers I know usually spend their summer break going on trips with my family and friends or relaxing at home. As well as catching up on home projects or reading books and watching movies during free time.
With Your Teacher Pay Structure, What are Your Next Steps?
There are a lot of different ways to spend summer break! Some people choose to travel, others stay home and relax. Still, others take on summer jobs for teachers or side hustles to make some extra money.
And then there are the teachers – they often use their summer break to catch up on work or prepare for the upcoming school year.
No matter how you choose to spend your summer break, it’s important to enjoy it! Take some time to relax and recharge, but also make sure to stay productive and get things done.
That way, you’ll be ready for whatever comes your way when fall arrives.
Know someone else that needs this, too? Then, please share!!
“The current mortgage rate environment has made it more challenging for some people, particularly would-be first-time-homebuyers, to purchase a home,” said Stephen Cannon, mortgage co-president at SouthState Bank. “Homeownership is a foundational component to building wealth and ultimately creating a prosperous financial existence, and the Opportunity Advantage Loan Fund could make a significant impact for … [Read more…]
Boasting a magical blend of culture, history and academia, Wisconsin is home to some of the finest college towns in the country.
From bustling city centers to quaint rural communities, these towns brim with youthful energy and a passion for learning. Let’s embark on a journey to explore some of the best college towns in Wisconsin, where we’ll discover Madison, Appleton, De Pere, Milwaukee and Eau Claire.
As Wisconsin’s capital city, Madison is also home to the University of Wisconsin-Madison, making it the epicenter of collegiate life in the state. This picturesque city benefits from a stunning location nestled between two sparkling lakes and is home to a diverse community teeming with creativity and innovation. As one of the best college towns in Wisconsin, Madison caters to the needs of students, residents and visitors alike, with an abundance of restaurants, shops and entertainment options. From biking and kayaking along the miles of shoreline to perusing the eclectic shops and eateries on State Street, there’s always something to do in this bustling city.
The heart and soul of Madison’s college scene is the iconic Memorial Union Terrace (pictured above), a lakeside gathering spot where students and locals alike can enjoy live music, outdoor movies and delicious local fare. If art and culture are more your speed, don’t miss the Chazen Museum of Art or the Wisconsin Historical Museum. Madison’s rich history and progressive atmosphere make it one of the top college towns in Wisconsin and is perfect for students seeking a well-rounded college experience.
Home to Lawrence University, Appleton is a charming city that harmoniously blends its history with a modern atmosphere. This college town is nestled along the Fox River, where the abundant natural beauty provides a serene backdrop for the city’s bustling downtown area. Appleton’s arts scene, supplemented by the Fox Cities Performing Arts Center and Trout Museum of Art, makes it one of the best college towns in Wisconsin for students with an appreciation for culture and creativity.
Appleton’s picturesque downtown is lined with unique shops, delicious dining options and lively entertainment venues, ensuring there’s never a dull moment. In addition to its thriving downtown, the city’s historic sites, such as the Hearthstone Historic House Museum and the Atlas Science Center, offer a fascinating glimpse into the area’s past. Appleton’s commitment to preserving its heritage while embracing the future makes it a standout among college towns in Wisconsin, perfect for students seeking a blend of old-world charm and contemporary activity.
Located just south of Green Bay, De Pere is a quaint and idyllic college town that’s home to St. Norbert College, a private liberal arts institution. The Fox River meanders through the heart of this cozy community, providing a picturesque setting for students and locals to enjoy outdoor activities like walking, biking and fishing. De Pere’s small-town charm and friendly atmosphere undoubtedly make it one of the most inviting college towns in Wisconsin.
De Pere’s historic downtown district is a treasure trove of boutique shops, cozy cafes and unique eateries, where seasonal students and year-round locals alike can indulge in unique flavors and discover one-of-a-kind finds. The De Pere Riverwalk and Wildlife Viewing Area offers a peaceful retreat from the hustle and bustle and the community’s commitment to the arts is evident in the events and performances hosted at the charming St. Norbert College. If you’re looking for a college town in Wisconsin that offers a tight-knit community and a serene environment, De Pere is the perfect fit.
Affectionately known as ‘Brew City,’ Milwaukee is Wisconsin’s largest city and home to several higher education institutions, including the University of Wisconsin-Milwaukee, Marquette University and Milwaukee School of Engineering. This bustling metropolis is a diverse environment that caters to students seeking an exciting, city-based college experience. Milwaukee’s lively arts and culture, combined with its beautiful lakefront location, make it one of the best college towns in Wisconsin for students craving a dynamic atmosphere while they pursue their degrees.
Milwaukee has a plethora of entertainment options, from the iconic Harley-Davidson Museum to the historic Pabst Theater and so much more. Foodies will find no shortage of delectable dining options, as the city boasts a wide variety of restaurants, breweries and food trucks, serving up everything from traditional Wisconsin fare to global cuisines. Milwaukee’s unique blend of urban excitement and Midwestern charm makes it a standout among college towns in Wisconsin, perfect for students eager to experience city life during their college years.
As a bonus, we’ll introduce you to Eau Claire, a vibrant city that’s home to the University of Wisconsin-Eau Claire. Known for its strong arts and music scene, Eau Claire boasts a rich cultural heritage that permeates the entire community. From the stunning Pablo Center at the Confluence to the numerous music festivals held throughout the year, Eau Claire’s creative spirit makes it a standout among Wisconsin college towns.
The city’s lively downtown area offers a wide variety of shopping, dining and entertainment options for students and locals alike. Outdoor enthusiasts will appreciate the city’s extensive network of parks and trails, including the beautiful Chippewa River State Trail and Putnam Park. Eau Claire’s thriving arts scene, coupled with its commitment to sustainability and community engagement, make it a top choice for students seeking a well-rounded college experience in Wisconsin.
Welcome to your Wisconsin college town
With their rich histories, youthful communities and top-notch educational institutions, these college towns in Wisconsin offer an unforgettable college experience. From bustling cities like Milwaukee to charming small towns like De Pere, there’s a perfect fit for every student in the Badger State.
Weakening economic outlook, high inflation and affordability challenges took a toll on buyer demand, leading to a drop in both purchase and refi applications last week, according to the Mortgage Bankers Association (MBA).
The market composite index, a measure of mortgage loan application volume, declined 6.3% for the week ending July 15, the MBAsaid. The refinance index dipped 4% from the previous week, falling to a 22-year low, and the purchase index decreased 7%.
“Mortgage applications declined for the third week in a row, reaching the lowest level since 2000,” Joel Kan, associate vice president of economic and industry forecasting at MBA. “The decline in recent purchase applications aligns with slower homebuilding activity due to reduced buyer traffic and ongoing building material shortages and higher costs.”
New U.S. home building activity fell 2% to a seasonally adjusted annual rate of 1.56 million units in June, marking a nine-month low since September 2021, according to the U.S. Department of Commerce. Permits for future homebuilding fell 0.6%, to a rate of 1.69 million units, also the lowest since September.
While the refinance share of all mortgage activity slightly increased from 30.8% the previous week to 31.4% of total applications, the refi index was 80% lower than the same week a year ago.
“With most mortgage rates more than two percentage points higher than a year ago, demand for refinances continues to plummet,” Kan said.
What lenders should know about today’s economic climate
Between navigating a post-pandemic world, rate hikes and the threat of a recession, mortgage lenders across the country are managing a volatile housing market. Learn how updating your mortgage technology stack can help you get ahead in today’s unpredictable lending environment.
Presented by: Polly
Mortgage rates have been volatile in recent weeks, following the Federal Reserve‘s interest rate hike of 75 basis points last month. After falling 40 bps two weeks ago to 5.30%, purchase mortgage rates climbed back last week to 5.5%, according to the latest Freddie Mac PMMS. A year ago at this time, 30-year fixed-rate purchase rates were at 2.88%.
The trade group estimates the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) rose to 5.82%, from the previous week’s 5.74%. Jumbo mortgage loans (greater than $647,200) also increased to 5.31% from 5.25%.
The Federal Housing Administration‘s(FHA) share of total applications rose to 12.4% from the previous week’s 11.7%. The United States Department of Agriculture‘s(USDA) share also increased to 0.6% from the week prior’s 0.5%. Meanwhile, the Veterans Affairs‘ (VA) share of total applications fell to 10.6% from 11.2%.
The share of adjustable-rate mortgages (ARM) applications also declined, accounting for 9.5%. According to the MBA, the average interest rate for a 5/1 ARM decreased to 4.6% from 4.71% a week prior.
The survey, conducted weekly since 1990, covers 75% of all U.S. retail residential mortgage applications.