hold Archives - Hanover Mortgages

Apache is functioning normally

June 8, 2023 by Brett Tams

If you have a mortgage, you may be unknowingly participating in a mortgage-backed security (MBS). That is, your humble home loan may be part of a pool of mortgages that has been packaged and sold to income-oriented investors on the secondary market.

Being part of an MBS won’t change much (if anything) about how you repay your home loan, but it’s helpful to understand how these investment products work and how they impact the mortgage and housing industries.

Key takeaways

A mortgage-backed security is an investment product that consists of thousands of individual mortgages.
Investors can purchase MBSs on the secondary market from the banks that issued the loans.
When MBS prices fall, residential mortgage rates tend to rise – and vice versa.

What is a mortgage-backed security?

A mortgage-backed security (MBS) is a type of financial asset, somewhat like a bond (or a bond fund). It’s created out of a portfolio, or collection, of residential mortgages.

When a company or government issues a traditional bond, they are essentially borrowing money from investors (the people buying the bond). As with any loan, interest payments are made and then principal is paid back at maturity. However, with a mortgage-backed security, interest payments to investors come from the thousands of mortgages that underlie the bond — specifically, the repayments in interest and principal the mortgage-holders make each month.

Mortgage-backed securities offer key benefits to the players in the mortgage market, including banks, investors and even mortgage borrowers themselves. However, investing in an MBS has pros and cons.

How do mortgage-backed securities work?

While we all grew up with the idea that banks make loans and then hold those loans until they mature, the reality is that there’s a high chance that your lender is selling the loan into what’s known as the secondary mortgage market. Here, aggregators buy and sell mortgages, finding the right kind of mortgages for the security they want to create and sell on to investors. This is the most common reason a borrower’s mortgage loan servicer changes after securing a mortgage loan.

Mortgage-backed securities consist of a group of mortgages that have been organized and securitized to pay out interest like a bond. MBSs are created by companies called aggregators, including government-sponsored entities such as Fannie Mae or Freddie Mac. They buy loans from lenders, including big banks, and structure them into a mortgage-backed security.

Think of a mortgage-backed security like a giant pie with thousands of mortgages thrown into it. The creators of the MBS may cut this pie into potentially millions of slices — each perhaps with a little piece of each mortgage — to give investors the kind of return and risk they demand. Mortgage-backed securities typically pay out to investors on a monthly basis, like the mortgages underlying them.

Types of mortgage-backed securities

Mortgage-backed securities may have many features depending on what the market demands. The creators of MBSs think of their pool of mortgages as streams of cash flow that might run for 10, 15 or 30 years — the typical length of mortgages. But the bond’s underlying loans may be refinanced, and investors are repaid their principal and lose the cash flow over time.

By thinking of the characteristics of the mortgage as a stream of risks and cash flows, the aggregators can create bonds that have certain levels of risks or other characteristics. These securities can be based on both home mortgages (residential mortgage-backed securities) or on loans to businesses on commercial property (commercial mortgage-backed securities).

There are different types of mortgage-backed securities based on their structure and complexity:

Pass-through securities: In this type of mortgage-backed security, a trust holds many mortgages and allocates mortgage payments to its various investors depending on what share of the securities they own. This structure is relatively straightforward.
Collateralized mortgage obligation (CMO): This type of MBS is a legal structure backed by the mortgages it owns, but it has a twist. From a given pool of mortgages, a CMO can create different classes of securities that have different risks and returns (like different size slices, if we use our pie metaphor again). For example, it can create a “safer” class of bonds that are paid before other classes of bonds. The last and riskiest class is paid out only if all the other classes receive their payments.
Stripped mortgage-backed securities (SMBS): This kind of security basically splits the mortgage payment into two parts, the principal repayment and the interest payment. Investors can then buy either the security paying the principal (which pays out less at the start but grows) or the one paying interest (which pays out more but declines over time). These structures allow investors to invest in mortgage-backed securities with certain risks and rewards. For example, an investor could buy a relatively safe slice of a CMO and have a high chance of being repaid, but at the cost of a lower overall return.

How do mortgage-backed securities affect mortgage rates?

The cost of mortgage-backed securities has a direct impact on residential mortgage rates. This is because mortgage companies lose money when they issue loans while the market is down.

When the prices of mortgage-backed securities drop, mortgage providers generally increase interest rates. Conversely, mortgage providers lower interest rates when the price of MBSs goes up.

So, what causes mortgage-backed securities to rise or fall? Everything from stock market gains to higher energy prices and even unemployment numbers have the ability to influence the prices. A variety of factors that affect the course of mortgage-backed securities, and lenders are constantly monitoring it.

Mortgage-backed securities and the housing market

Why do mortgage-backed securities make sense for the players in the mortgage industry? Mortgage-backed securities actually make the industry more efficient, meaning it’s cheaper for each party to access the market and get its benefits:

Lenders: By selling their mortgages, lenders save on maintenance costs, and receive money they can then loan out to other borrowers, allowing them to more efficiently use their capital. They often require borrowers to meet conforming loan standards so that they can sell mortgages to aggregators. They can also sell the loans they might not want to keep, while retaining those they prefer.
Aggregators: Aggregators package mortgages into MBSs and earn fees for doing so. They may give mortgage-backed securities features that appeal to certain investors. A steady supply of conforming loans allows aggregators to structure MBSs cheaply.
Borrowers: Because aggregators demand so many conforming loans, they increase the supply of these loans and push down mortgage rates. So, borrowers may be able to enjoy greater access to capital and lower mortgage rates than they otherwise would.

Of course, easier access to financing is beneficial for the housing construction industry: Developers can build and sell more houses to consumers who are able to borrow more cheaply.

Investors like mortgage-backed securities, too, because these bonds may offer certain kinds of risk exposure that the investors, mainly big institutional players, want to have. Even the banks themselves may invest in MBSs, diversifying their portfolios.

While the lender may sell the loan, it may also retain the right to service the mortgage, meaning it earns a small fee for collecting the monthly payment and generally managing the account. So, you may continue to pay your lender each month for your mortgage, but the real owner of your mortgage may be the investors who hold the mortgage-backed security containing your loan.

Pros and cons of investing in MBSs

No investment is without risk. MBS have their advantages and disadvantages.

For instance, mortgage-backed securities typically pay out to investors on a monthly basis, like the mortgages behind the securities. But, unlike a typical bond where you receive interest payments over the bond’s life and then receive your principal when it matures, an MBS may often pay both principal and interest over the life of the security, so there won’t be a lump-sum payment at the end of the MBS’ life.

Here are some of the other advantages and disadvantages of investing in MBSs.

Pros

Pay a fixed interest rate
Typically have higher yields than U.S. Treasuries
Less correlated to stocks than other higher-yielding fixed income securities, such as corporate bonds

Cons

If a borrower defaults on their mortgage, the investor will ultimately lose money
The borrower may refinance or pay down their loan faster than expected, which can have a negative impact on returns
Higher interest rate risk because the cost of MBSs can drop as soon as interest rates increase

History of mortgage-backed securities

The first modern-day mortgage-backed security was issued in 1970 by the Government National Mortgage Association, better known as Ginnie Mae. These mortgage-backed securities were actually backed by the U.S. government and were enticing because of their guaranteed income stream.

Ginnie Mae began providing mortgage-backed securities in an effort to bring in extra funds, which were then used to purchase more home loans and expand affordable housing. Shortly after, government-sponsored enterprises Fannie Mae and Freddie Mac also began offering their version of MBSs.

The first private MBS was not issued until 1977, when Lew Ranieri of the now-defunct investment group Salomon Brothers developed the first residential MBS that was backed by mortgage providers, rather than a federal agency. Ranieri’s MBSs were offered in 5- and 10-year bonds, which was attractive to investors who could see returns more quickly.

Over the years, mortgage-backed securities have evolved and grown significantly. As of May 2023, financial institutions have issued $493.9 billion in mortgage-backed securities.

Mortgage-backed securities today

While mortgage-backed securities were notoriously at the center of the global financial crisis in 2008 and 2009, they continue to be an important part of the economy today because they serve real needs and provide tangible benefits to players across the mortgage and housing industries.

Not only does securitization of mortgages provide increased liquidity for investors, lenders and borrowers, it also offers a way to support the housing market, which is one of the largest engines of economic growth in the U.S. A strong housing market often bolsters a strong economy and helps employ many workers.

Mortgage Market

Bankrate insights

As of 2021, 65% of total home mortgage debt was securitized into mortgage-backed securities.

Bottom line on mortgage backed securities

While you might not deal with a mortgage-backed security in your daily life, your mortgage may be part of one. And if so, it’s a cog in the machinery that keeps the financial system running and helps borrowers access capital more cheaply. It can be useful to understand that the MBS market ultimately has a powerful influence over qualifications for mortgages, resulting in who gets a loan — and for how much.

Source: finance.yahoo.com

Apache is functioning normally

June 8, 2023 by Brett Tams

Editor’s Note: Since the writing of this article, President Biden signed the debt ceiling bill on June 4, canceling the federal student loan payment pause as of Aug 30, or “60 days after June 30.” Later this month, the Supreme Court will decide whether the Biden-Harris Administration’s Student Debt Relief Program can proceed. Loan payments are expected to resume in October.

Student loans are a significant issue in the United States, where consumers have more than $1.7 trillion in total student loan debt. In 2021, the average federal student loan debt per borrower was just over $37,000. And 20 years after students enter college, half of borrowers still owe $20,000 in student loans.

Broken down by degree levels, the debt increases. Graduate students who receive a degree leave school with an average of nearly $70,000 in debt. Law students are saddled with an average of $180,000; and medical students owe $250,000 on average for total student loan debt.

With so many borrowers and so much debt, it begs the question, “Should all student loan debt be forgiven?”

Who’s in Favor?

By a 2-to-1 margin, voters do support at least some student loans being forgiven, according to a poll from Politico and Morning Consult. And 53% of voters from the same poll support Biden’s extension of student loan payments through August.

Proponents of canceling student loan debt point out that the government is partially responsible for this debt crisis. Because many states slashed higher education funding after the 2008 recession, tuition at both public and private colleges has gone up steeply, and many students have been forced to take out even more in loans.

Unfortunately, the increase in student loan balances hasn’t gone hand in hand with a bump in post-college salary. The result is a national situation where borrowers owe increasingly more in student loans but don’t have the paycheck to aggressively tackle their balances.

Although the government has created income-driven repayment options that seek to keep monthly student loan payments affordable, signing up isn’t without its downsides.

Since these income-driven plans often lengthen loan terms, borrowers may pay significantly more interest on their loans over time. Also, any forgiven balance at the end of their loan term is typically treated as taxable income.

Why Forgiving Student Loan Debt a Isn’t a Slam-Dunk

There are several reasons why forgiving student loan debt may not be a straightforward positive. The first is that, according to U.S. tax laws, debt that’s forgiven is a taxable event. Under income-driven student loan repayment plans, for instance, if you make consistent, on-time payments for the life of the loan (20 or 25 years, depending on when you borrowed), any balance remaining at the end of your loan term is forgiven — but whatever’s forgiven is considered taxable income.

The second issue pundits raise with this plan is that it’s being sold as a stimulus: If the government forgives people’s student loan debt, they’ll put money back into the economy, the thinking goes. But forgiving debt isn’t the same as handing people a check.

And finally, the federal government so far isn’t planning to forgive student loans that borrowers hold with private lenders, which average over $54,000 per borrower.

Alternative Options to Canceling Student Loan Debt

Instead of targeting only student loan borrowers who qualify for relief, the government could provide a stimulus check to all Americans, and Americans could decide for themselves how to use it.

If someone has $10,000 in outstanding student loans, for example, they might prefer to use a check to put a down payment on a house or pay off high-interest credit card debt.

Then there’s the higher education system itself. Canceling or forgiving student loan debt may provide only temporary relief as long as tuition levels continue to rise. As it stands, future generations will be saddled with just as much, if not more, student debt than Americans currently have today.

Tackling Your Student Loan Debt

There’s no telling when or if some form of more long-term relief might appear for student loan borrowers. If you’re struggling under the weight of your student debt, there are strategies that might help:

• Alternative payment plans: Federal student loans come with a variety of repayment options, one of which might suit your situation.

• Direction of overpayments: If you make extra payments on your student loans, you may instruct your servicer to apply them to your principal, rather than the next month’s payment plus interest. This will help pay off your loans faster.

• “Found” money: If you receive a work bonus or tax refund, applying it to your student loans can help reduce your balance faster.

• Refinancing: Refinancing student loans (private and/or federal) into one new loan with a private lender could lower your monthly payment and interest rate, and make it easier to manage payments. Just know that refinancing federal student loans with a private lender means losing access to federal repayment and forgiveness programs.

Recommended: Can Refinanced Student Loans Still Be Forgiven?

The Takeaway

There is no quick fix for student loan debt, which will take further discussion from stakeholders on all sides.

If you are struggling with your own student loan debt, there are options to consider. You can apply for an income-driven repayment plan, apply for student loan deferment or forbearance on your federal student loans, or refinance your loans with a private lender. Keep in mind, though, that refinancing disqualifies you from federal benefits you may otherwise be eligible for.

If you do decide to refinance, consider SoFi. SoFi has a quick online application process, competitive rates, and no origination fees or prepayment penalties.

See if you prequalify with SoFi in just two minutes.

SoFi Student Loan Refinance
If you are looking to refinance federal student loans, please be aware that the White House has announced up to $20,000 of student loan forgiveness for Pell Grant recipients and $10,000 for qualifying borrowers whose student loans are federally held. Additionally, the federal student loan payment pause and interest holiday has been extended beyond December 31, 2022. Please carefully consider these changes before refinancing federally held loans with SoFi, since the amount or portion of your federal student debt that you refinance will no longer qualify for the federal loan payment suspension, interest waiver, or any other current or future benefits applicable to federal loans. If you qualify for federal student loan forgiveness and still wish to refinance, leave unrefinanced the amount you expect to be forgiven to receive your federal benefit.

CLICK HERE for more information.

Notice: SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income-Driven Repayment plans, including Income-Contingent Repayment or PAYE. SoFi always recommends that you consult a qualified financial advisor to discuss what is best for your unique situation.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
SOSL0523028

Source: sofi.com

Apache is functioning normally

June 7, 2023 by Brett Tams

The real estate market carnage continues with all the major iBuyers pausing home purchases thanks to the coronavirus.

Zillow Offers Pauses Purchases

This morning, Zillow announced that it had stopped home buying via Zillow Offers amid the “market uncertainty” related to COVID-19.

While it’s unclear if it was mandated, they did note that the move was “in response to local public health orders related to COVID-19,”and also to ensure the protection and safety of its staff, customers, and partners.

Specifically, some states like California have implemented emergency orders requiring individuals to stay at home and cease all non-essential business, which includes some real estate activities.

The company said it would continue to market and sell homes through Zillow Offers, despite halting open houses for its homes last week.

Zillow said it ended 2019 with 2,707 homes in its inventory, and as of March 19th, had reduced it to approximately 1,860 homes.

All 24 markets where Zillow Offers currently operates are affected by the move.

Opendoor Cash Offers Suspended

Meanwhile, Opendoor is putting cash offers on hold as a result of COVID-19.

In a statement posted on their website, the iBuyer said, “If you’re currently in our offer process, be on the lookout for communication from us. If you’re not, here’s how we can still help with your home sale.”

In terms of that help, they are still allowing third parties to make a cash offer for your property, as opposed to Opendoor itself.

If you take them up on that option, you can still skip the showings, prep work, and choose you own close date.

They said they’ll get back to customers via email within 2-3 days if eligible.

You can also use one of their partner real estate agents to list your home in traditional fashion, though I think we all know selling right now probably doesn’t make a ton of sense unless absolutely necessary.

Offerpad Might Be on Hold Right Now

I visited Offerpad’s website to see how they were being impacted, but couldn’t get a totally clear answer.

However, they do have an “important notice” posted at the top of their website that reads:

“To ensure that our customers, employees, and third parties are safe to the best of our ability, our processes have been subject to temporary changes.”

“We need to ensure that all services, including third parties, associated with a customer’s purchase or sale will be available. We appreciate your flexibility during this time.:

So there’s a good chance they are following suit and putting new purchases on hold as well.

As reported last week, RedfinNow was the first to temporarily halt home purchases, as indicated in an 8-K filing.

Two Takeaways to Consider

One issue, as mentioned by Zillow, is that real estate isn’t necessarily an essential business activity.

At least when it involves investors trying to make money by buying and selling real estate.

For everyday Joes looking to buy or sell a home, I assume it’s still okay to do so. It certainly can be argued as essential in certain situations.

However, a bigger concern is if this is the canary in the coal mine.

If billion-dollar companies like Redfin and Zillow aren’t interested in buying our homes, what does that say about the health of the real estate market?

I think the worry is if this situation doesn’t improve in the next several months, we might see scores of foreclosures flood the market, which could lead to lower home prices.

Conversely, if the government and loan servicers get ahead of it and work hard to help unemployed homeowners, things might turn out okay.

And really, with all the spending going on, there’s bound to be inflation, which could benefit homeowners as the world recovers.

Source: thetruthaboutmortgage.com

Apache is functioning normally

June 7, 2023 by Brett Tams

This guest post from Shelley Turner is part of the “reader stories” feature at Get Rich Slowly. Some stories contain general advice; others are examples of how a GRS reader achieved financial success — or failure. These stories feature folks from all levels of financial maturity and with all sorts of incomes.

They’re coming! Like it or not, the holidays — and all the stress of buying the Perfect Gift — are just around the corner. I actually like brainstorming gift ideas, and have been told I’m pretty good at it. Today I’ll share my secrets with you.

The best gifts are appropriate for the recipient, yet don’t cost a small fortune. You want your gift to say “I know what you like”, not “I didn’t have a clue of what to get you for a gift for but here it is anyway”. I once received a leopard-hair belt. Anybody who knows me, or has seen how I dress, understands that there’s never been (nor ever will be) a time that I’d wear a leopard-hair belt. A gift like that screams “I just bought you something because I had to”.

Me and my friend Ron at a white elephant exchange.

Gift-giving ground rules
Before you buy, take a few minutes to think about what your recipient has in her house or on her desk, what she spends her time doing, what she likes to talk about, where she likes to eat, and even what she keeps in her refrigerator. Even if you don’t know her that well, this exercise will help you get some ideas of what the recipient likes.

I’m not a collector, so I prefer practical and useful gifts. However, if your gift recipient is a collector, that’s a perfect opportunity. Even if his collection is filled with expensive items, you can often find a small token within that collection that you could give him. The trick to buying a great gift for somebody, no matter what the occasion, is to buy what your recipient would enjoy — not what you’d enjoy.

Often, a consumable gift that provides momentary pleasure and then disappears is best, especially around the holidays when people usually get many gifts. Consumables can be given, enjoyed, and remembered without becoming Stuff.

My husband’s 90-year-old grandmother is a perfect example. What can you give a 90-year-old woman who already has everything she wants and needs? Not much. However, I know she really enjoys a good cup of coffee. And I found some European butter cookies and a some jars of preserves made in her native Denmark. I give her this same gift every year. She tells me she waits eagerly for our gift because not only does she enjoy consuming it during the winter, but because it’s a small reminder of her home country.

Inexpensive gift ideas
No matter which gift you choose, if it’s something your recipient uses over and over, you can give a great gift without spending too much. Here are some of my favorite inexpensive gift ideas. These have all been well-received and cost less than $20. You can tailor the gift idea to fit your budget. Some of these can be used as hostess gifts for holiday parties you may be attending.

Personalized note cards
A book by her favorite author
Monogrammed wine stoppers
Travel journal
Engraved metal bookmark
Monogrammed soap bars
Bread basket with quick bread or muffin mix inside
Dog or cat breed-specific items — calendars, notepads, keychains, etc. of their pet
Cookbook (specific subjects like fondue, vegetarian, appetizers, etc or you could get a book representing their hometown like the Chesapeake Bay, etc.)
Personalized insulated tote-style lunch bag (put his favorite snack inside)
Sports team items — pick her favorite team mug, hat, t-shirt, scarf, etc. (fill a mug with her favorite hard candy)
Gourmet chocolate bars tied with ribbon or raffia
Favorite bubble bath & bath pillow
Wallet with gift cards or cash inside
Amaryllis or Paperwhite bulb package
Old-fashioned jar filled with favorite candy or snack
Hand-made soap with an interesting soap dish
Handmade crocheted or knitted scarf or hat
BBQ sauces, hot sauces, grilling rubs, etc (some have funny labels)
Ice cream dish with favorite topping
Decorative candy bowl with favorite candy
Ornament representing current hobby
Charm to add to an existing charm bracelet
T-shirt from favorite restaurant
Crabtree & Evelyn hand therapy (super-rich hand cream)
Nice colored pencils and/or sketch notebook for artists
Small decorative bowl and package of dip mix
Hand towels with initials embroidered (especially if newly married)

Here are a few more ideas with a bit of explanation:

Magazine subscription (hundreds of subjects to choose from — and you can give crossword puzzle and comic book subscriptions too). Buy the current issue and put a note on it that you got him a one-year subscription.
Lolita glasses are painted wine, beer, or margarita glass that have themes painted on them based on hobbies. There’s a recipe painted on the bottom of each glass too.
Year of Napkins! This requires advance planning, but makes a unique gift for a very reasonable price. For each holiday throughout the year (plus Happy Birthday), pick up one pack of luncheon-sized napkins. When you’ve collected all the holidays, package them in order of the holidays in small CD crates, baskets, etc. Usually you can find the napkins in the clearance section right after the holiday. Decide how many of these you want to put together in advance so you can buy as many as you need during each holiday.

Remember that you can also go in with others to purchase bigger gifts, such as theater tickets, cooking classes, and other “experiences”. If you’re very organized, you can shop all year and pick up interesting gifts along the way. My sister-in-law has a birthday in January, but I often find stuff she’ll love in the summer, so I buy it and keep it until her birthday.

Check the clearance racks all year to get even better deals. Unless you really enjoy going shopping the week before Christmas, you may find that buying gifts ahead of time will not only save you money, but also make the holiday season a little more relaxing, as well.

Reminder: Another way to save money on gifts is to make them yourself. Here’s a list of 34 great homemade Christmas gifts almost anyone can put together. And over at The Simple Dollar, Trent has been documenting his own quest for family-produced Christmas presents.

A note on packaging
When packaging your gifts, you’re not stuck using a gift bag or plain wrapping paper unless you want to. Tulle (that material used to tie up rice/birdseed to throw at weddings) is great for wrapping unusually-shaped items, such as the bowls & dip mixes, candy bowls & jars, ice cream dishes, bottles of hot sauces, soap, etc. It’s really inexpensive to purchase by the yard, comes in many colors, and your recipient can see what you gave her without unwrapping it. Tulle is especially good for hostess gifts so they don’t have to open them upon receipt.

Some other tips:

Magazines roll up perfectly in those tall wine bottle bags.
Chinese-food boxes and small tin buckets are inexpensive and fun to use.
Bread baskets work nicely to hold all kinds of items and they can reuse the basket later.

When packaging your gifts, use your imagination!

Gift giving can be fun — if you allow yourself to be creative and take a few minutes to think about your recipient. The bottom line: If he’ll enjoy it, it’s a great gift for him!

Happy gift-giving!

Source: getrichslowly.org

Apache is functioning normally

June 7, 2023 by Brett Tams

All 12 Federal Reserve districts have seen issues with a lack of housing inventory, which is largely due to existing homeowners holding back on listing their homes after previously locking in low mortgage rates.

Demand from the buyer side has remained steady or increased, however, and new home builders have responded to inventory shortages by increasing speculative inventory production, according to the Federal Reserve Beige Book, released Wednesday.

The Beige Book is a compilation of data and interviews with bank and branch directors, community organizations and economists from on or before May 22.

“Residential real estate activity picked up in most Districts despite continued low inventories of homes for sale,” the report states.

The Beige Book also notes that “home prices and rents rose slightly on balance in most Districts, after little growth in the prior period.”

In return, the lack of inventory of homes for sale pushed demand for rental properties in some areas — including New York, Chicago, St. Louis, Kansas City Federal Reserve districts.

Following are excerpts of statements on housing conditions from each of the 12 Federal Reserve districts.

***

Boston – Contacts around the District attribute the still-low sales numbers to low inventories more than to weak demand, as slightly lower mortgage rates have helped bring more buyers to the market.

House price appreciation has slowed on average but remains slightly positive, with the exception that home prices in Massachusetts (not including Boston) have experienced modest declines from a year earlier. The modest price growth in the Boston area marks a trend reversal from the preceding few months.

Contacts anticipate that, despite healthy buyer demand, home sales are likely to experience only a modest seasonal increase moving forward, owing to extremely low inventory levels.

New York – The residential sales market has been strong across the District. A New York City-area contact reports that the sales market in and around New York City has picked up strongly in recent weeks after a brief pause in early April, which was due to uncertainty in the banking sector.

After a slow start to the year, housing markets in upstate New York have also started to pick up, with bidding wars and multiple offers becoming more common. Inventory remains exceptionally low and is restraining sales activity in much of the District. A key factor suppressing new listings is the prevalence of homeowners with historically low interest rates on their existing mortgages, reducing the incentive to sell and move.

A strong economy and relatively high mortgage rates have pushed some movers to the rental market, boosting demand.

Philadelphia – High interest rates have continued to dissuade existing homeowners from listing their house and losing their low interest rate. Existing home sales have fallen moderately in this district, and prices have continued to rise as the market heats up again. New home builders have benefited from the unseasonably modest sales of existing homes as the resale market has slowed.

Cleveland – Demand for residential construction and real estate has stabilized in this District, and contacts attribute this stabilization to the arrival of spring and flattening interest rates.

Homebuilders have reported an increase in speculative construction projects in this District, as many buyers want to purchase and move into homes immediately, in part to avoid further rises in interest rates.

Richmond – Residential real estate respondents indicate in the report that the spring market is off to a good start, with sales prices continuing to appreciate, but not at the same pace as last year. For-sale inventory remains constrained due to fewer people putting their homes on the market, but buyer traffic has been steady while the days on market has increased slightly in the last month.

However, fluctuations in mortgage rates have caused buyers to pull back, with pending sales and closed sales both down in this District. Builders have been offering strong incentives to close deals.

Atlanta – Housing demand throughout the District has remained strong despite interest rate and home price volatility. Though home sales are down compared to a year ago, sales in many markets in this District have increased on a monthly basis, as buyer sentiment has modestly improved.

The supply of existing homes for sale has remained low as homeowners have showed increased hesitancy to list homes for sale, especially if they financed at a low interest rate. Home prices remain down from peak levels but have recently shown month-to-month improvement.

New home builders have responded to inventory shortages by increasing speculative inventory production, and some have begun to reduce buyer incentives.

Chicago – Residential construction activity has been down modestly in this District. Contacts report that high-interest rates have led some projects to be postponed or canceled and that while construction costs had fallen, the decline isn’t enough to offset higher financing costs.

Residential real estate activity has decreased modestly as well. Prices and rents have declined, and the low inventory of homes for sale has helped to prevent larger declines.

However, there have been reports of rising retail rents in some areas because of a lack of high-quality new construction.

St. Louis – Rental rates for residential real estate have increased slightly in this District. The number of new listings in residential real estate have dropped sharply in Louisville since our previous report, while new listings in the Memphis and Little Rock regions have remained unchanged. Seasonally adjusted home sales have remained unchanged since the previous report.

Minneapolis – Residential construction has remained subdued. Single-family permitting in April was more than 40 percent lower year over year in the Minneapolis-St. Paul region; most other large markets in the District saw even bigger declines. Discounts have started to appear for some speculative developments.

Closed (residential real estate) sales in April fell notably year over year across the District, with many larger markets seeing declines of 30 to 50 percent. Median sale prices have declined in western and central Montana and have been flat in several other markets.

Kansas City – Housing rental rate growth has remained elevated in several western District states, but the pace of increases has declined broadly and swiftly from the growth rate experienced during the past year.

Dallas – Housing demand broadly has held up in the Dallas District, though sales have continued to be weaker than a year ago. Contacts have noted a decent spring selling season, with prices largely stable, and builders have been able to raise prices slightly in selected areas.

Outlooks have been cautious, however, with some voicing concern about whether demand would hold up beyond the spring selling season.

San Francisco – Activity in residential real estate has slowed further in this District. Contacts across the District have reported stable demand for single-family homes, although high mortgage rates have restrained prices. Existing single-family inventory has been low, and owners appeared hesitant to forego their existing low-rate mortgages by listing their homes.

Despite reported improvement in the availability and cost of materials, construction of new homes has been flat-to-down as developers responded to higher financing costs.

Source: housingwire.com

Apache is functioning normally

June 7, 2023 by Brett Tams

From assistance with daily activities to medical support, long-term care insurance is designed to provide financial protection when you face chronic illness, disability or cognitive impairment. However, pre-existing conditions, advanced age, health issues and disabilities can disqualify you from getting coverage. Here are the ins and outs of long-term care insurance, a list of health conditions that insurance companies deem uninsurable and alternative solutions to help you get the care you need on a modest budget. You may want to talk to a financial advisor to get specific advice for your situation.

What Is Long-Term Care Coverage?

Long-term care insurance provides coverage for the costs associated with long-term care services. Specifically, it helps individuals pay for assistance with activities of daily living (ADLs) or medical services needed due to a chronic illness, disability or cognitive impairment.

Long-term care services support various activities, such as bathing, dressing, eating, toileting and movement. It can also cover services nurses, therapists and home health aides provide. Some policies may even cover care in nursing homes, assisted living facilities or adult day care centers.

In addition, this insurance aims to help individuals protect their assets and savings from being depleted by the high costs of long-term care. These costs can be substantial and standard health insurance doesn’t cover them. Likewise, Medicare and Medicaid don’t cover these expenses except under specific circumstances and eligibility criteria.

When an individual has long-term care insurance, they pay regular premiums to the insurance company. If they require long-term care services in the future, the insurance policy can provide benefits to cover a portion of the costs up to the policy’s coverage limits. The specific benefits and coverage provided by long-term care insurance policies can vary, so reviewing and understanding the terms and conditions before purchasing a policy is essential.

It’s worth noting that long-term care insurance is generally more expensive and harder to obtain as you get older or have pre-existing health conditions. Therefore, it’s advisable to consider purchasing long-term care insurance earlier in life when premiums are more affordable and eligibility requirements are more flexible.

What Disqualifies You From Long-Term Care Insurance?

Insurance companies consider certain factors disqualifying or exclusionary when you apply for long-term care insurance. These factors can vary between providers, but here are common reasons that may result in disqualification from long-term care insurance:

Pre-existing conditions: Insurance companies often review an applicant’s medical history to assess their risk. For example, if you have certain pre-existing conditions, such as Alzheimer’s disease, Parkinson’s disease or certain forms of cancer, the insurer may decline or exclude coverage for those conditions.
Age: Some insurance companies have age restrictions and may not offer coverage to individuals beyond a certain age, typically around 80 or 85. The cost of premiums also tends to increase as you get older. Conversely, you can’t be younger than 18 when purchasing coverage.
Existing disabilities or impairments: If you already have a disability or impairment that requires long-term care, insurance companies may consider it a high-risk factor and decline coverage.
Cognitive impairments: Severe conditions like dementia may disqualify an individual from obtaining long-term care insurance. Insurers assess the risk associated with cognitive decline and may exclude coverage for related care needs.
Terminal illness: Individuals with a terminal illness may not be eligible for long-term care insurance, as the policy aims to cover long-term care needs rather than end-of-life care.
Recent hospitalizations or surgeries: Insurance companies may impose waiting periods or exclude coverage for pre-existing conditions if an applicant has recently been hospitalized or undergone a significant surgery.
Substance abuse or mental health disorders: Some insurers may decline coverage or exclude certain conditions related to substance abuse or specific mental health disorders.
Declining health: If an applicant’s health is already in decline, insurance companies may deny coverage or charge higher premiums to account for the increased risk.
Criminal history: If crimes appear on your personal record, insurance companies might refuse to provide coverage, particularly if you have any felonies in your past.

Remember, not all insurance providers have the same criteria and the availability of long-term care insurance and the specific conditions they cover can vary. Therefore, when considering long-term care insurance, it’s recommended to consult with multiple insurance companies, carefully review the policy terms and conditions and seek advice from an insurance professional or financial planner specializing in long-term care planning.

Examples of Uninsurable Health Conditions

Because each insurance company has underwriting guidelines and practices, the specific list of uninsurable conditions can vary between providers. That said, here are some health conditions that insurance providers typically perceive as high-risk:

AIDS/HIV
Alzheimer’s Disease, dementia and other forms of cognitive issues
Ankylosing spondylitis
Amyotrophic Lateral Sclerosis
Bipolar Disorder or other depression with the use of antipsychotic medications
Cardiomyopathy
Cerebral Atrophy (Paralysis)
Cerebral Palsy
Cirrhosis of the Liver
Confusion
Current Cancer and Metastatic Cancer
Cushing’s Syndrome
Cystic Fibrosis
Huntington’s Disease
Kidney Disease requiring dialysis
Multiple Sclerosis
Muscular Dystrophy
Myasthenia Gravis
Parkinson’s Disease
Schizophrenia
Scleroderma
Spinal Cord Injury
Significant Stroke/Cerebral Vascular Accident (CVA)
Systemic Lupus

In addition, if you require help with activities of daily living or live in a care facility, companies will likely consider your conditions uninsurable. Likewise, if you use a wheelchair, walker, cane, stairlift or hospital bed, you may be ineligible. Furthermore, oxygen therapy also disqualifies you from coverage in most situations, as do disability benefits, with the possible exception of military benefits.

Remember, this list is not exhaustive and the availability of coverage for these conditions can vary between insurance providers. Insurance companies may also consider factors such as the severity and stability of the condition, the age of the applicant and other individual circumstances when assessing insurability.

Long-Term Care Health Qualifications

Typically, individuals aged 65 and above are eligible for long-term care insurance, even if they have a notable health condition. Nonetheless, eligibility depends on specific criteria each insurance company sets. For instance, certain companies may mandate a specific level of net worth or income to qualify, while others focus on your medical conditions and history.

In other words, your eligibility for long-term care insurance rests with the insurance company. Therefore, it’s crucial to research the criteria of long-term insurance providers to identify the one that aligns with your circumstances.

How to Pay For Long-Term Care without Long-Term Care Coverage

When shopping around for long-term care coverage, you might have disqualifying health conditions or discover that the insurance premiums aren’t realistic for your budget. If so, you can pay for long-term care through other means, such as:

Self-Funding: If long-term care insurance is not feasible, you can adopt a simple approach of living on a reduced budget to save and invest more. It’s an excellent idea to set aside money regularly for investment purposes, whether through a 401(k), an IRA or a non-retirement investment account.
Group Plan Coverage: If your employer offers long-term care insurance as a benefit, you may be eligible for enrollment regardless of your health history. Taking advantage of such coverage is advisable if you have a chronic condition, as it may allow you to continue it even after leaving the employer.
Long-Term Care Annuity: Consider investing in a long-term care annuity, where you make a lump sum payment and receive a consistent, specified income for the rest of your life. Long-term care annuities often include provisions to assist with long-term care expenses.
Hybrid Life Insurance/Long-term Care Policy: Some life insurance policies come with a long-term care rider, making it easier for individuals with chronic conditions to qualify for coverage. These policies combine life insurance benefits with the option for long-term care coverage.
Short-Term Care Policy: Instead of a long-term care policy that provides coverage for multiple years, you can choose among short-term care policies offering coverage for a year or less. While the benefits may not be as extensive as traditional long-term care insurance, having some coverage is better than none.
Medicaid: Individuals with limited income and countable assets below certain thresholds may be eligible for long-term care services covered by Medicaid, a government program.
Life Insurance Policy Settlement: If you currently hold a life insurance policy, pursuing a long-term care life settlement is possible. To do so, you can sell the policy and use the proceeds to cover long-term care expenses.

The Bottom Line

Long-term care insurance covers the costs associated with long-term care services, assisting individuals with activities of daily living (ADLs) and medical services related to chronic illness, disability or cognitive impairment. It aims to protect assets and savings from the high expenses of long-term care, which are often not covered by standard health insurance, Medicare or Medicaid. Therefore, researching and evaluating options is essential to find the most suitable approach for individual circumstances.

Tips for Qualifying for Long-term Care Insurance

Long-term care looks different for everyone because of the endless combinations of health conditions and financial circumstances. As a result, there’s no simple answer for how to navigate long-term care and financial management in retirement. Fortunately, an experienced financial advisor can help establish a sustainable plan for your golden years. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
As with many aspects of retirement, timing is crucial for long-term care insurance. If you’re unsure how your timeline matches your long-term care situation, here’s how to know when to apply for long-term care insurance.

Photo credit: ©iStock.com/gustavofrazao, ©iStock.com/kazuma seki, ©iStock.com/yellowpicturestudio

Ashley Kilroy
Ashley Chorpenning is an experienced financial writer currently serving as an investment and insurance expert at SmartAsset. In addition to being a contributing writer at SmartAsset, she writes for solo entrepreneurs as well as for Fortune 500 companies. Ashley is a finance graduate of the University of Cincinnati. When she isn’t helping people understand their finances, you may find Ashley cage diving with great whites or on safari in South Africa.

Source: smartasset.com

Apache is functioning normally

June 7, 2023 by Brett Tams

$43,000 a year is how much an hour? Learn how much your 43k salary is hourly. Plus find a 43000 salary budget to live the lifestyle you want.

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.

43k salary is a solid hourly wage when you think about it.

When you get your first job and you are making just above minimum wage making over $43,000 a year seems like it would provide amazing opportunities for you. Right?

The median household income is $68,703 in 2019 and increased by 6.8% from the previous year (source). Think of it as a bell curve with $68K at the top; the median means half of the population makes less than that and half makes more money.

The average income in the U.S. is $48,672 for a 40-hour workweek; that is an increase of 4% from the previous year (source). That means if you take everyone’s income and divided the money out evenly between all of the people.

But, the question remains can you truly live off 43,000 per year in today’s society since it is below both the average and median household incomes. The question you want to ask all of your friends is $43000 per year a good salary.

In this post, we are going to dive into everything that you need to know about a $43000 salary including hourly pay and a sample budget on how to spend and save your money.

These key facts will help you with money management and learn how much per hour $43k is as well as what you make per month, weekly, and biweekly.

Just like with any paycheck, it seems like money quickly goes out of your account to cover all of your bills and expenses, and you are left with a very small amount remaining. You may be disappointed that you were not able to reach your financial goals and you are left wondering…

Can I make a living on this salary?

$43000 a year is How Much an Hour?

When jumping from an hourly job to a salary for the first time, it is helpful to know how much is 43k a year hourly. That way you can decide whether or not the job is worthwhile for you.

$43000 a year is $20.67 per hour

Breakdown Of How Much Is 43k A Year Hourly

Let’s breakdown, how that 43000 salary to hourly number is calculated.

For our calculations to figure out how much is 43K salary hourly, we used the average five working days of 40 hours a week.

Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, divide the yearly salary of $43000 by 2,080 working hours and the result is $20.67 per hour.

43000 salary / 2080 hours = $20.67 per hour

Just above $20 an hour.

Key Points….

That number is the gross hourly income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
You must check with your employer on how they plan to pay you. For those on salary, typically companies pay on a monthly, semi-monthly, biweekly, or weekly basis.

Just an interesting note… if you were to increase your annual salary by $5K to $48k per year, it would increase your hourly wage to over $23 an hour – a difference of $2.41 per hour.

To break it down – 48000 salary / 2080 hours = $23.08 per hour

That difference will help you fund your savings account; just remember every dollar adds up.

How Much is $43K salary Per Month?

On average, the monthly amount would be $3,583.

Annual Salary of $43,000 ÷ 12 months = $3,583 per month

This is how much you make a month if you get paid 43000 a year.

$43k a year is how much a week?

This is a great number to know! How much do I make each week? When I roll out of bed and do my job of $43k salary a year, how much can I expect to make at the end of the week for my effort?

Once again, the assumption is 40 hours worked.

Annual Salary of $43000/52 weeks = $827 per week.

$43000 a year is how much biweekly?

For this calculation, take the average weekly pay of $827 and double it.

$827 per week x 2 = $1,654

Also, the other way to calculate this is:

Annual Salary of $43000 / 26 weeks = $1654 biweekly.

How Much Is $43K Salary Per Day

This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.

8 hours x 52 weeks = 260 working days

Annual Salary of $43000 / 260 working days = $165 per day

If you work a 10 hour day on 208 days throughout the year, you make $206 per day.

$43000 Salary is…

$43000 – Full Time	Total Income
Yearly Salary (52 weeks)	$43,000
Monthly Wage	$3,583
Weekly Pay (40 Hours)	$827
Bi-Weekly Pay (80 Hours)	$1,654
Daily Wage (8 Hours)	$165
Daily Wage (10 Hours)	$206
Hourly Wage	$20.67
Net Estimated Monthly Income	$2,735
Net Estimated Hourly Income	$15.78

^{**These are assumptions based on simple scenarios.}

43k a year is how much an hour after taxes

Income taxes is one of the biggest culprits of reducing your take-home pay as well as FICA and Social Security. This is a true fact across the board with an all salary range up to $142,800.

When you make below the average household income, the amount of taxes taken out hurts your hourly wage.

Every single tax situation is different.

On the basic level, let’s assume a 12% federal tax rate and 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.

So, how much an hour is 43000 a year after taxes?

Gross Annual Salary: $43,000

Federal Taxes of 12%: $5,160
State Taxes of 4%: $1,720
Social Security and Medicare of 7.65%: $3,290

$43k Per Year After Taxes is $32,830

This would be your net annual salary after taxes.

To turn that back into an hourly wage, the assumption is working 2,080 hours.

$32830 ÷ 2,080 hours = $15.78 per hour

After estimated taxes and FICA, you are netting $32,830 per year, which is $10,170 per year less than what you expect.

***This is a very high-level example and can vary greatly depending on your personal situation and potential deductions. Therefore, here is a great tool to help you figure out how much your net paycheck would be.***

In addition, if you live in a heavily taxed state like California or New York, then you have to pay way more money than somebody that lives in a no tax state like Texas or Florida. This is the debate of HCOL vs LCOL.

Thus, your yearly gross $43000 income can range from $29390 to $34550 depending on your state income taxes.

That is why it is important to realize the impact income taxes can have on your take home pay. It is one of those things that you should acknowledge and obviously you need to pay taxes. But, it can also put a huge dent in your ability to live the lifestyle you want on a $43,000 income.

43k salary lifestyle

Every person reading this post has a different upbringing and a different belief system about money. Therefore, what would be a lavish lifestyle to one person, maybe a frugal lifestyle to another person. And there’s no wrong or right, it is what works best for you.

One of the biggest factors to consider is your cost of living.

In another post, we detailed the differences of living in an HCOL vs LCOL vs MCOL area. When you live in big cities, trying to maintain your lifestyle of $43,000 a year is going to be much more difficult because your basic expenses, housing, transportation, food, and clothing are going to be much more expensive than you would find in a lower cost area.

To stretch your dollar further in the high cost of living area, you would have to probably live cheap and prioritize where you want to spend money and where you do not. Whereas, if you live in a low cost of living area, you can live a much more lavish lifestyle because the cost of living is less. Thus, you have more fun spending left in your account each month.

As we noted earlier in the post, $43,000 a year is below the average income that you would find in the United States. Thus, you have to be wise with how you spend your money.

What a $43,000 lifestyle will buy you:

If you are debt free and utilize smart money management skills, then you are able to enjoy the lifestyle you want.

You are able to rent in a decent neighborhood in LCOL and maybe a MCOL city.
You should be able to meet your expenses each and every month.
Participate in the 200 envelope challenge.
Ability to make sure that saving money is a priority, and very possibly save $3000 in 52 weeks.

When A $43,000 Salary Will Hold you Back:

However, if you are riddled with debt or unable to break the paycheck to paycheck cycle, then living off of 40k a year is going to be pretty darn difficult.

There are two factors that will keep holding you back:

You must pay off debt and cut all fun spending and extra expenses.
Break the paycheck to paycheck cycle.

It is possible to get ahead with money!

It just comes with proper money management skills and a desire to have less stress around money. That is a winning combination regardless of your income level.

$43k Salary to Hourly

We calculated how much $43,000 a year is how much an hour with 40 hours a week. But, more than likely, you work more or fewer hours per week.

So, here is a handy calculator to figure out your exact hourly salary wage.

$43K a year Budget – Example

Picture of planing how to make a budget with $43000 a year in income.

As always, here at Money Bliss, we focus on covering our basic expenses plus saving and giving first, and then our goal is to eliminate debt. The rest of the money leftover is left for fun spending.

If you want to know how to manage 40k salary the best, then this is a prime example for you to compare your spending.

You can compare your budget to the ideal household budget percentages.

recommended budget percentages based on $43000 a year salary:

Category	Ideal Percentages	Sample Monthly Budget
Giving	10%	$251
Savings	15-25%	$645
Housing	20-30%	$932
Utilities	4-7%	$143
Groceries	5-12%	$287
Clothing	1-4%	$22
Transportation	4-10%	$143
Medical	5-12%	$179
Life Insurance	1%	$11
Education	1-4%	$11
Personal	2-7%	$32
Recreation / Entertainment	3-8%	$81
Debts	0% – Goal	$0
Government Tax (including Income Tatumx, Social Security & Medicare)	15-25%	$847
Total Gross Monthly Income		$3583

^**^{In this budget, prioritization was given to basic expenses and no debt.}

Is $43,000 a year a Good Salary?

Picture debating whether or not $43000 a year a good salary.

As we stated earlier if you are able to make $43,000 a year, that is a decent salary. You are making more money than the minimum wage and close to double in many cities.

While 43000 is a good salary starting out in your working years. It is a salary that you want to increase before your expenses go up or the people you provide for increase.

However, too many times people get stuck in the lifestyle trap of trying to keep up with the Joneses, and their lifestyle desires get out of hand compared to their salary. It is okay to be driving around a beater car while you work on increasing your salary.

This $43k salary would be considered a lower middle class salary. This salary is something that you can live on if you are wise with money.

Check: Are you in the middle class?

In fact, this income level in the United States has enough buying power to put you in the top 95 percentile globally for per person income (source).

The question you need to ask yourself with your 43k salary is:

Am I maxed at the top of my career?
Is there more income potential?
What obstacles do I face if I want to try to increase my income?

In the future years and with possible inflation, many modest cities a 43,000 a year will not a good salary because the cost of living is so high, whereas these are some of the cities that you can make a comfortable living at 43,000 per year.

If you are looking for a career change, you want to find jobs paying at least $65000 a year.

Is 43k a good salary for a Single Person?

Simply put, yes.

You can stretch your salary much further because you are only worried about your own expenses. A single person will spend much less than if you need to provide for someone else.

Learn exactly what is a good salary for a single person today.

Your living expenses and ideal budget are much less. Thus, you can live extremely comfortably on $43000 per year.

And… most of us probably regret how much money wasted when we were single. Oh well, lesson learned.

Is 43k a good salary for a family?

Many of the same principles apply above on whether $43000 is a good salary. The main difference with a family, you have more people to provide for than when you are single or have just one other person in your household.

The costs of raising children are high and will steeply cut into your income. As you can tell this is a huge dent in your income, specifically $12,980 annually per child.

That means that amount of money is coming out of the income that you earned.

So, the question really remains is can you provide a good life for your family making $43,000 a year? This is the hardest part because each family has different choices, priorities, and values.

More or less, it comes down to two things:

The location where you live in.
Your lifestyle choices.

You can live comfortably as a family on this salary, but you will not be able to afford everything.

Many times when raising a family, it is helpful to have a dual-income household. That way you are able to provide the necessary expenses if both parties were making 43000 per year, then the combined income for the household would be $86,000. Thus making your combined salary a very good income.

Learn how much money a family of 4 needs in each state.

Can you Live on $43000 Per Year?

As we outlined earlier in the post, $43,000 a year:

$20.67 Per Hour
$165-206 Per Day (depending on length of day worked)
$827 Per Week
$1654 Per Biweekly
$3583 Per Month

Next up is making $45000 a year.

Like anything else in life, you get to decide how to spend, save and give your money.

That is the difference for each person on whether or not you can live a middle-class lifestyle depends on many potential factors. If you live in California or New Jersey you are gonna have a tougher time than Oklahoma or even Texas.

In addition, if you are early in your career, starting out around 34,000 a year, that is a great place to be getting your career. However, if you have been in your career for over 20 years and still making $43k, then you probably need to look at asking for pay increases, pick up a second job, or find a different career path.

Regardless of the wage that you make, if you are not able to live the lifestyle that you want, then you have to find ways to make it work for you. Everybody has choices to make.

But one of the things that can help you the most is to stick to our ideal household budget percentages to make sure you stay on track.

Learn exactly how much do I make per year…

One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.

As an Amazon Associate and member of other affiliate programs, I earn from qualifying purchases.

Learn how to supplement your daily, weekly, or monthly income with trading so that you can live your best life! This is a lifestyle trading style you need to learn.

Honestly, this course is a must for anyone who invests. You will lose more in the market than you will spend this quality education – guaranteed.

Read my Invest with Teri Review.

If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!

This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.

Learn how to buy and resell items from flea markets, thrift stores and yard sales. They will teach you how to create a profitable reselling business quickly

…no matter how much or how little experience you have.

Our friends Cody & Julie of Gold City Ventures are experts at creating five figures of passive income selling printables. Learn how to create your online printables business from scratch with our programs and templates.

Are you passionate about words and reading? If so, proofreading could be a perfect fit for you, just like it’s been for me! I’m excited to share how you can create a freelance business as a proofreader, just like I did.

The ultimate discounted bundle of my 4 best-selling courses and WordPress theme on how to build and grow a profitable blog.

Learn the best SEO practices and how to monetize your blog quickly!

Designed as a 101-level course on freight brokerage, you’ll learn the basics of freight brokering in this online course.

This course is designed for freight brokers in any setting, regardless of their employment status.

If you want to start your brokerage, we’ll show you exactly how to do it. If you are an agent or employee of a brokerage, we’ll take you through sales and operations modules designed to help you source more leads and move more freight.

You can make money as a freelance writer. Learn techniques to find those jobs and earn the kind of money you deserve!

Plus get tips to land your first freelance writing gig!

This is the perfect side hustle if you don’t have much time, experience, or money.

Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.

The Empowered Business Lab teaches you how to sell your digital products naturally with strategies that just make sense.

Monica helped me find my momentum and my want to pursue my business again.

After taking a second job as a driver for Amazon to make ends meet, this former teacher pivoted to be a successful stock trader.

Leaving behind the stress of teaching, now he sets his own schedule and makes more money than he ever imagined. He grew his account from $500 to $38000 in 8 months.

Check out this interview.

Source: moneybliss.org

Apache is functioning normally

June 7, 2023 by Brett Tams

If endless live music, mouthwatering tacos, natural pools and beautiful parks are your idea of a perfect trip, it might just be time to visit Austin, the bohemian capital of the Lone Star State.

Home to events like South by Southwest, Austin City Limits festival and bachelorette parties galore (not to mention barbecue and the University of Texas at Austin), ATX truly has something for everyone.

There’s also a place to stay for every type of traveler, from historic motor lodges converted into chic motels to luxury names we all know. There’s even a lakeside spa resort designed to help guests recharge and relax in the stunning beauty of Central Texas.

Whether you’re a city slicker in town for business, a foodie lookin’ to taste the best Texas has to offer, or you are embarking on a western road trip, here are some of Austin’s best hotels (including some excellent points options), where you can settle in and make a temporary home.

Just don’t forget: Keep it weird.

Related: Why Austin Airport keeps its vendors local to create an airport for foodies

The Line Austin

Austin, Texas, USA

THE LINE HOTEL/FACEBOOK

Best for: Folks looking for a stay that matches Austin’s effortless cool vibes.

Why stay here: The year-round heated pool overlooks the Congress Avenue Bridge, making it the perfect spot to watch the city’s famed bats take flight.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

This Line Austin is one of this hotel reporter’s favorite hotels in the world — and I’ve stayed at some pretty incredible places.

For starters, the location in Downtown Austin, butting up to the Colorado River, is perfect for exploring the eclectic shops and restaurants of South Congress and the lively (though touristy) bars and nightlife on 6th Street. It also sits right along Lady Bird Lake and the Congress Avenue bridge, so you can watch the largest colony of bats in North America put on their natural show as you take a dip in the hotel’s heated pool. (Sounds scary, but it’s one of Austin’s main attractions!)

Inside the hotel, rooms are simple but chic, with a modern, industrial aesthetic made comfortable with Bellino linens, a curated assortment of local snacks and drinks, and floor-to-ceiling windows that fill the space with light radiating from that big Texas sky. Request a lake view room so you can spend a lazy morning watching locals and tourists take advantage of the water.

At Arlo Grey, “Top Chef” winner Kristen Kish serves up an inspired menu rooted in local fare (think: crispy rice with saffron aioli and cilantro and a Texas-raised Wagyu ribeye with spring onion fritter) alongside cocktails and an international wine list. Wet your whistle at P6, a lovely lounge atop the parking garage serving creative cocktails, elevated bar food and dramatic sunset views over Lady Bird Lake.

Rates at Line Austin start at $225 per night.

Austin Proper Hotel

Austin, Texas, USA

AUSTIN PROPER HOTEL/FACEBOOK

Best for: Design lovers looking for an Instagram-worthy moment.

Why stay here: The Austin Proper Hotel is one of the most visually appealing hotels in town — if not the entire state.

Best way to book: Book through our partner Skylark to earn Marriott points while enjoying elite-like benefits and on-property credits, or redeem your points by booking through Marriott directly.

In a place as trendy as Austin, it’s only right to stay in a hotel with just as much texture and style as the city itself. That’s why Austin Proper (part of Marriott’s Design Hotels), located Downtown on 2nd Street, should be a top contender.

Designed by the influential creative Kelly Wearstler, the hotel exudes a sort of unbridled confidence that will have you posing in plush armchairs and planning outfits to match all that over-the-top wallpaper just to make your followers jealous.

Rooms at this Proper outpost (the others are in California with more East Coast properties coming soon) are grounded in natural hues and elements, such as local stones and woods, and complemented by giant windows with motorized shades, Simmons Providence mattresses and comfortable robes from Parachute. Even better are two amenities every single hotel in the world should include: Apple TV and a fabric steamer.

If you don’t fill up on local art, stop by The Peacock for Mediterranean food, followed by a nightcap at Quill Room, a clubby lounge with live music. During the day, beat the Texas heat with a spicy marg from the rooftop pool restaurant, La Piscina, or borrow a bike and cruise along the river. To really relax, hit up the Verbena Spa for an agave- and tequila-infused treatment ($338 for 90 minutes).

Rates at Austin Proper Hotel start at $350 or 42,000 Marriott Bonvoy points per night.

Miraval Austin

Austin, Texas, USA

SUMMER HULL/THE POINTS GUY

Best for: An ultraluxurious tune-up for the mind, body and soul in the heart of Texas.

Why stay here: When you want to do a little self-care, it’s always best to let the pampering Miraval team take care of everything else for the duration of your stay.

Best way to book: Book through our partner Skylark to enjoy elitelike benefits and on-property credits; or reserve through American Express Fine Hotels + Resorts for value-added benefits like upgrades and late checkout based on availability, plus on-property statement credits.

One of the crowning brands in Hyatt’s robust portfolio, Miraval Resorts offers tranquil retreats that help guests center themselves in the day-to-day hustle we call life, as well as give them a chance to disconnect from technology thanks to its mostly unplugged cellphone policy.

The adults-only Miraval Austin is tucked away in a sprawling complex in the hills. Guests have plenty of wellness-focused activities to choose from, including sound healing sessions, yoga and meditation classes. There are also experiences with horses, farming activities like chicken keeping, and even more physical activities like a ropes course challenge and climbing walls (note that some activities are not included in the mostly all-inclusive pricing structure of Miraval Austin.)

Food is served at The Hilltop Crossings Kitchen, which is designed to be as calming, healthy and nourishing as the rest of any stay. Beyond the standard three meals daily, a rotating menu of food-focused activities, like “Conscious Mixology” and lessons on gut health, are on offer.

Related: A review of Miraval Austin Resort and Spa

Then, of course, there’s the Life in Balance Spa. Experiences here range from a deep tissue massage ($235 for 50 min) to Eastern-inspired experiences like the “Crystal Energy Balancing” session ($195 for 50 min) that uses Reiki and crystals to help cleanse the soul.

Rates at Miraval Austin start around $1,200 or 57,500 or 72,000 World of Hyatt points per night, both based on double occupancy. Note that every award booking includes a $175 resort credit per person.

Fairmont Austin

Austin, Texas, USA

FAIRMONT AUSTIN/FACEBOOK

Best for: Austin visitors who want a stylish stay close to all the action.

Why stay here: A resort-style, year-round rooftop pool is the perfect place to escape the downtown crowds.

Best way to book: Book through our partner Skylark to enjoy elite-like benefits and on-property credits.

For those looking for a more refined stay in Austin, high above the boozy bars of Downtown, the Fairmont is a top-notch choice with an array of superb amenities that make it difficult to decide how to spend your time.

You could reserve a cabana for privacy or snag a pool lounger to soak up the sun beside the Texas-size, resort-style rooftop pool. Or, pamper yourself at the Fairmont Austin Spa for a Himalayan Hot Salt Stones Massage ($195 for 50 minutes) or take a soothing dip in the indoor, infinity-like soaking pool.

Rooms at this Fairmont radiate classic luxury, with plush beds, floor-to-ceiling windows, comfortable lounge chairs and a neutral colorway with pops of blue and green. In the bathroom, who could ask for anything better than Le Labo Rose 31 toiletries?

While Austin boasts some of the best dining in the state, the Fairmont has plenty of its own restaurants to wade through. There’s the Texas-style, open-flame steakhouse Garrison; the Room 725 Champaign and Caviar Bar; seasonal bites and drinks at Fulton; and more.

Rates at Fairmont Austin start around $207 per night.

The Driskill

Austin, Texas, USA

THE DRISKILL/FACEBOOK

Best for: Refined travelers who clean up for the day but want to let loose on buzzy 6th Street at night.

Why stay here: This hotel perfectly marries its storied place in Texas history with its convenient physical location to Austin’s main nightlife corridor.

Best way to book: Book through our partner Skylark to earn World of Hyatt points while enjoying elite-like benefits and on-property credits, or redeem your points by booking through Hyatt directly.

Though Austin’s skyline is full of glitzy new highrises, the city also has a handful of hotels loaded with history — none more than the Driskill, part of Hyatt’s Unbound Collection, which dates back over 100 years to 1886. Here you’ll find a mix of old and new glamour, but all with a Texas twist. Rooms feature wrought-iron beds with cowhide benches at the foot, trunk-style nightstands, wooden writing desks and large drapes with valances depicting the exterior of the hotel.

Right near the action of 6th Street (which, be warned, can get rowdy) and not too far from the state Capitol, this hotel is a great place to steep yourself in Texas traditions — especially when it comes to food. Stop by the leather- and cowhide-clad Driskill Bar, and you might find yourself sippin’ on a local draft beer with a helping of pimento cheese. Next, head to dinner at The Grill, where former President and Lady Bird Johnson had their first date, for a biscuit board (it’s exactly what it sounds like!) and filet mignon.

Rates at The Driskill start at $204 or 21,000 World of Hyatt points per night.

Four Seasons Austin

Austin, Texas, USA

FOUR SEASONS HOTEL AUSTIN/FACEBOOK

Best for: The luxury-obsessed and people who want quick access to the water.

Why stay here: The on-demand margarita cart will have a bartender mixing margs in the comfort of your room.

Best way to book: Book through our partner Skylark to enjoy elite-like benefits and on-property credits.

The Four Seasons is known for giving its guests the most in unbridled luxury — and in Austin, that comes in the shape of an on-demand margarita cart because what’s more luxe than a Clase Azul Añejo marg at just a phone call away?

Actually, there are plenty of things equally as luxe at the Four Seasons Austin, like rooms featuring the Canadian brand’s signature beds, views of Lady Bird Lake, Byredo bath products in a travertine shower and twice-daily housekeeping. For a little more, opt for a Lake View Balcony Room so you can take that aforementioned margarita (say that five times fast!) right out into the fresh air.

If you’d rather enjoy your drink at the bar, stop at Live Oak, where you can sample a chili-infused mezcal cocktail served in a glass boot by an oversized fire pit. At Cicilo, Texas and Latin flavors merge to create a menu featuring fare like enchiladas rojas, sea scallops and pork belly, grilled steaks and smoked Texas quail.

However, there’s more to do than eat and drink. Relax by the pool or grab a hiking trail guide and explore the paths right outside the hotel, which is along the river in downtown Austin. Head to the fitness center for a yoga class, or book a treatment of your choice at the luxurious spa.

Rates at the Four Seasons Austin start at $640 per night.

Thompson Austin

Austin, Texas

THOMPSON AUSTIN/FACEBOOK

Best for: Hyatt loyalists wanting a taste of Austin’s eclectic style.

Why stay here: Celebrated culinary duo Mashama Bailey and Johno Morisano (behind Savannah’s famed restaurant The Grey) lead the food and beverage programming.

Best way to book: Book directly through Hyatt to earn or redeem World of Hyatt points and enjoy any elite benefits.

One of the most exciting new hotels in town (included in TPG’s list of most anticipated hotel openings of 2022), the Thompson Austin is a sleek, moody new World of Hyatt property right at the heart of all the action.

Here, guests can expect stylish rooms designed by Chicago-based Simeone Deary Design Group, with terrazzo floors, green leather headboards, big TVs to catch up on Netflix, rainfall showers with D.S. & Durga bath amenities and fabric steamers to easily work out the wrinkles in your garments without wrestling with an iron and ironing board.

The real star of this property is The Diner Bar, where James Beard Award-winning chef Mashama Bailey and restaurant partner John O. Marisano (the forces behind Savannah’s hit restaurant, The Gray) serve seasonal southern food with a Texas flare. (There’s also a grab-and-go counter from the duo if you’re short on time.)

On the fourth floor, a pool deck offers lounge chairs and cabanas to relax in while grazing on snacks from Wax Myrtles, a Texas-meets-California Mexican restaurant serving bites like fish tacos and shrimp tostadas alongside heat-beating frozen drinks, fun cocktails and local beer on tap.

Rates at Thompson Austin start around $300 or 21,000 World of Hyatt points per night.

Lake Austin Spa Resort

Austin, Texas, USA

LAKE AUSTIN SPA RESORT AND SPA/FACEBOOK

Best for: People who want a wellness experience combined with all the fun of a beautiful lake.

Why stay here: Located near one of the country’s most booming cities, this spa resort is equal parts fun, relaxation and style.

Best way to book: Book through our partner Skylark for elitelike benefits and on-property credits.

The all-inclusive Lake Austin Spa Resort is the place to leave the “weird” of Austin behind, set your intentions on rest and relaxation and enjoy the better parts of life on 19 acres of lakefront property.

Half an hour from downtown Austin, this dreamy resort is accessible by car — but the more fun way to get there is by water taxi. As the water taxi is less crowded than the highway, so is the resort itself, with just 40 sun-filled rooms with porches, relaxing soaking tubs, tall ceilings and even cottages that have their own hot tubs.

The pricing structure here gets guests three hearty meals a day (room service counts), plus healthy smoothies, juices and snacks. Also included is a 24-hour fitness area, lake activities like kayaks and paddleboards, a lakeside beach, outdoor pools, swings and hammocks (to finally read that book you’ve been carrying around), a heated indoor pool and tons of activities ranging from belly dancing classes to hiking in the hills.

Just don’t forget, it is a spa resort — and this one has a whopping 25,000-square-foot facility that offers whirlpools, saunas, steam rooms and more. Treatments range from the ultra-luxe (we’re talking a caviar-infused facial that’s a little north of $1,000) to more standard options (like a deep-tissue massage, starting at $225).

Rates at Austin Spa Resort start at $1,550 per night, based on double occupancy.

Hotel Van Zandt

Austin, Texas, USA

HOTEL VAN ZANDT/FACEBOOK

Best for: Travelers who want a boutique stay on an Austin-centric street full of popping bars, live music and local food trucks.

Why stay here: Located in the Rainey Street District, this hotel is steps from where locals and tourists both come to play.

Best way to book: Book directly through Marriott to earn or redeem Marriott Bonvoy points and enjoy any elite benefits.

Formerly a Kimpton hotel, the now-independent Hotel Van Zandt towers over the Rainey Street District, a strip of houses-turned-bars, parking lots filled with food trucks and a generally younger crowd looking to live it up on one of Austin’s main party drags.

Though Rainey Street might seem a little college-like, the hotel feels all grown up, with rooms featuring a color palette of deep blues and airy beiges, large wooden desks, plush linens and a table with leather chairs. Non-standard rooms include a spa suite with a soaking tub; 900-square-foot Presidential Suites, complete with kitchenettes and vinyl record players; and pool view rooms.

Speaking of the pool, the rooftop pool deck has plush cabanas and a poolside bar serving snacks and drinks, and there’s a massive fireplace where guests gather on crisp evenings. If you’re hungry, stop by Geraldine’s, offering Texas-inspired brunch and dinner, plus daily live music. You might think Texas is all country, but make a reservation for Jazz Brunch, and you’ll leave realizing why Austin is called the “Live Music Capital of the World.”

Rates at the Hotel Van Zandt start at $206 per night.

W Austin

Austin, Texas, USA

W AUSTIN/MARRIOTT.COM

Best for: Marriott loyalists who want a points property in the heart of Austin’s downtown action.

Why stay here: With four distinct areas, including a room filled with hundreds of records and a bar designed for tasting legendary tequilas, the hotel lobby is a destination in itself.

Best way to book: Book through our partner Skylark to earn Marriott points while enjoying elite-like benefits and on-property credits, or redeem your points by booking through Marriott directly.

At W Austin, located downtown, Marriott loyalists can find a funky slice of home that’s fitting for a trip to one of America’s funkiest cities.

Rooms that would otherwise be considered bland or stale are brightened with whimsical pops of color. Also, staying true to the W brand aesthetic, there are fun red couches and armless chairs to lounge in. Other elements include images from local photographer Scott Newton, Bricor Venturi shower heads and 300-thread-count bedding because every visitor to Austin knows a good day requires a good night’s sleep.

Know, though, that Austin isn’t the kind of place you spend too much time in your room. Instead, the home base at this hotel is the immaculate lobby, split into various sections. They include the Tequila Bar, with a vast assortment of spirits and games to play; the Record Room, where guests can pursue over 8,000 different vinyl records; and the Living Room, which offers a club-like atmosphere with a live DJ some nights.

The hotel also has a restaurant, Trace, serving breakfast, brunch, lunch and dinner with a menu of locally sourced foods ranging from pasta dishes to brisket sandwiches. There’s also a fourth-floor pool deck with lounge chairs and cabanas, a spa and a 3,600-square-foot gym.

Rates at W Austin start at $257 or 44,000 Marriott Bonvoy points per night.

Commodore Perry Estate

Austin, Texas, USA

COMMODORE PERRY ESTATE, AUBERGE RESORTS COLLECTION/FACEBOOK

Best for: Jetsetters or city folk looking for an urban escape.

Why stay here: Set in a palatial estate, rooms trade in Austin’s contemporary vibes for European panache fitting of Lone Star royalty.

Best way to book: Book through our partner Skylark to enjoy elite-like benefits and on-property credits.

Auberge Resorts knows luxury well — and that’s exemplified at its Austin property, Commodore Perry Estate, which is set in a European-meets-Texan walled estate sprawling over 10 acres. An iconic landmark given a new life, this retreat offers stunning, Renaissance-inspired suites in the historic mansion and a series of rooms and suites in the Inn, all filled with various accents like four-poster beds, leather couches, ornately-framed artworks and local goods to take home from the room in an area cleverly called “The Estate Sell.”

Guests can relax by the cooling pool waters but don’t miss out on the many events scheduled throughout a stay, including tequila tastings, custom boot experiences, hiking and live music. For the wellness-minded, there are HITT and yoga classes, meditation sessions and personal training instructors. Across the street, a nine-hole public golf course invites folks to practice their swing.

Meals are savored at Lutie’s Garden Restaurant, named after the estate’s original matriarch and designed by the eclectic visionary Ken Fulk. Meals consist of fresh, seasonal produce with an underlying focus on incorporating ingredients and meats from local farmers and ranchers. Guests can also eat poolside from a menu of select pool snacks.

Rates at Commodore Perry Estate start at $520 per night.

Austin Motel

Austin, Texas, USA

AUSTIN MOTEL/FACEBOOK

Best for: A trip with friends or bachelor or bachelorette parties.

Why stay here: With retro design, a buzzy outdoor space perfect for sipping a craft margarita and an ideal location on South Congress, the Austin Motel is the epitome of what makes Austin so fun.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

If you’re a fan of retro vibes, ’70s decor and Wes Anderson films, you’ll be right at home at the Austin Motel, a staple of South Congress and the Austin hotel scene.

At this vintage motel, guests sleep in rooms with quirky wallpaper, brightly colored headboards, Sferra sheets — and peace of mind from knowing that you’re in one of the coolest places in town.

Spicy margaritas are best had beside the kidney-shaped pool, where red-and-white plastic fold-up pool chairs invite guests to relax in the sun (or pose for a very likable photo). Next door, in a space shared with the hotel, Joann’s Fine Foods serves tacos throughout the day (breakfast tacos are life in Austin) alongside enchiladas, sizzling fajitas and lots and lots of queso.

Just don’t forget to stop at the hotel’s bodega, or general store, for some Austin-centric goods to take home, like fun T-shirts, funky swim trunks and other goods worthy of a splurge.

Rates at the Austin Motel start at $149 per night.

Hotel Saint Cecilia

Austin, Texas, USA

HOTEL SAINT CECILIA/FACEBOOK

Best for: People who know that a hotel can be so much more than a place to rest your weary head.

Why stay here: Built around a Victorian-era home, the Hotel Saint Cecilia is playful, chic and one of the trendiest places to stay in one of the country’s trendiest cities.

Best way to book: Book through our partner Skylark to enjoy elite-like benefits and on-property credits.

Found in South Austin, Hotel Saint Cecilia (named after the patron saint of music and poetry) is an intimate abode that oozes charm and Austin’s fresh sense of cool. Rooms include minimalist studios, ornate suites and poolside bungalows with record players, king-size Hästens beds and outdoor seating where you can sit back and relax.

At the 50-foot heated lap pool, children are allowed until 2 p.m. Then, the area turns into an adults-only space where drinks, like a chili-infused reposado tequila, and snacks (try the charcuterie board) are on offer from the Lounge. Guests can also enjoy a full bar and food menu away from the pool in a charming seating and bar area that’s generally not open to the public.

Rates at Hotel Saint Cecilia start at $449 per night.

The Loren at Lady Bird Lake

Austin, Texas, USA

THE LOREN AT LADY BIRD LAKE/FACEBOOK

Best for: Travelers to Austin who want to feel part of the scene without being directly in the middle of it.

Why stay here: This new hotel is perfectly located near Austin’s legendary green spaces but still close enough to walk to its bustling entertainment districts.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

Another hotel new on the scene, the Loren at Lady Bird Lake, has all the character you’d expect from such a vibrant city but is slightly removed, geographically speaking, from the true hustle and bustle of downtown.

The public areas are industrial chic, with concrete walls adorned with beautiful plants everywhere you look, soft wood tones and cozy couches on which to relax. Throughout the hotel, an impressive collection of art themed around science and architecture also commands attention.

In the rooms, floor-to-ceiling windows provide views of the best parts of Austin, vibrant green carpet brings the outdoors inside, and a charming mix of leather furniture, patterned headboards and sleek white Sferra linens effortlessly ties it all together. Bathrooms feature beautiful stone countertops, walk-in showers (some rooms have free-standing tubs) and Malin+Goetz products to wash away the day.

Inside the hotel, the rooftop restaurant Nido features a menu of seasonal offerings throughout the day, from a blue crab omelet for breakfast to pasta dishes, meat and seafood dishes for dinner. Room service is also available, and a coffee shop in the lobby can help jumpstart your day with a caffeine fix.

There’s also a gorgeous 8th-floor pool deck with lounge chairs for catching some sun, a spa and a fitness center. With its waterfront location, you can borrow kayaks and hit the lake for a true taste of what Austin’s all about.

Rates at The Loren at Lady Bird Lake start at $380 per night.

Hotel Zaza

Austin, Texas, USA

HOTEL ZAZA/FACEBOOK

Best for: Those looking for a boutique stay near the neon lights of downtown.

Why stay here: Just steps away from the city’s storied nightlife, this Austin hotel is the perfect home base.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

Hotel ZaZa is a Texas-based boutique chain with four eclectic properties in Dallas, Houston and Austin. In the state’s capital city, ZaZa offers a little something for everyone, from a great 7th-floor pool deck to the ZaSpa, which offers massages, facials and couple’s experiences.

Throughout the hotel, the design offers a little of this and a little of that — in the best way, with bold patterns, vibrant textiles and a philosophy contradicting the age-old saying “less is more.”

In standard guest rooms, expect refined style, plush couches, leather armchairs, a stocked mini-bar and robes. But, for a quirky upgrade, book one of the “Magnificent Seven Suites.” Rooms include the campy Bungalow 6, which feels like a set from “Golden Girls,” and the 880-square-foot “Orient Express,” which serves Agatha Christie novel vibes.

With two great on-site restaurants, it’s easy to eat well at Hotel ZaZa. Meals at Group Therapy start with dishes like crispy calamari and jalapenos or a trio of deviled eggs (hello, caviar) before moving into a sprawling selection of mains like a chicken-fried Wagyu steak po’boy with poblano gravy dip, slow-braised short ribs or pork belly tacos. At Cabana Bar, the poolside bar and eatery, seared ahi tuna tostadas pair perfectly with a frozen pina colada.

Rates at Hotel ZaZa start at $240 per night.

Hotel Magdalena

Austin, Texas, USA

HOTEL MAGDALENA/FACEBOOK

Best for: People who want a boutique taste of Austin’s distinct style, music and culinary offerings.

Why stay here: A converted motor hotel, the Hotel Magdalena is fun, friendly and within walking distance to some of the best shopping in town.

Best way to book: Book direct for the best rates and packages, or through your favorite credit card travel portal.

Bunkhouse really does have a hold on Austin, and Hotel Magdalena is another of the company’s great hotels to consider. At this particular hotel, right off South Congress, guests can enjoy an intimate experience that’s full of fun and culture but without too many other guests considering there are only 89 rooms.

Though the rooms are few, they’re certainly big on character and feature monochromatic bathrooms with bright blue, green or yellow tiles; vintage music photography from Austin’s own Scott Newton; Sferra linens; Sangre de Fruta bath products; and a laid-back but homey aesthetic.

This hotel has many of the staple Bunkhouse amenities, including a killer pool and a fun gift shop with curated products to take home. It’s also pet friendly. There’s a full-service, all-day restaurant, Summer House on Music Lane, plus the Magdalena Bar for drinks and poolside cocktails. But the real star is Equipment Room, a tech-savvy, speak-easy-like basement bar with a focus on good sound, craft cocktails and elevated bar food and a world-class record collection.

Rates at Hotel Magdalena start at $237 per night.

JW Marriott Austin

Austin, Texas, USA

JW MARROTT AUSTIN/FACEBOOK

Best for: Business travelers and Marriott loyalists.

Why stay here: Though Austin is full of quirky boutique hotels, the JW Marriott Austin is a more buttoned-up affair for people in town for business.

Best way to book: Book directly through Marriott to earn or redeem Marriott Bonvoy points and enjoy any elite benefits.

For Marriott Bonvoy loyalists, business travelers or people who want a classy, resort-like property in the heart of downtown, the JW Marriott Austin checks all the boxes. The hotel is the perfect mix of work and play, with well-appointed rooms that feature plush beds, padded armchairs, a desk space to get some work done and then a smart TV to unwind with your favorite shows after.

That’s not all, though. There’s a spa offering curated treatments, massages or facials; an upscale fitness center with tons of workout equipment; and a big pool with chairs and cabanas to lounge on.

If you get hungry, head to one of the hotel’s many bars or restaurants to quell your appetite. There’s the upscale Dean’s Italian Steakhouse, serving Wagyu from Texas and Japan; a popular walk-up burger spot called Burger Bar; a casual Texas-themed restaurant named Corner Restaurant; and a rooftop restaurant.

Rates at JW Marriott Austin start at $237 or 41,000 Marriott Bonvoy points per night.

Source: thepointsguy.com

Apache is functioning normally

June 7, 2023 by Brett Tams

By Friday, there’s a distinct possibility that you’ll be tired of hearing different versions of the same story. The plot: last Friday’s jobs report prevented rates from falling back into the mid-6% range, but wasn’t enough to propel rates well into the 7% range. Without much by way of highly consequential data on the calendar, it makes sense that bigger movements might be on hold until next week’s dynamic duo (Consumer Price Index and the Fed) takes the stage.

True to the plot, today saw very little change in the average 30yr fixed rate. That absence of change mirrors unchanged levels in the underlying bond market.

Source: mortgagenewsdaily.com

Apache is functioning normally

June 7, 2023 by Brett Tams

Imagine for a moment that it’s morning and you’re about to wake up: Your alarm rings and you grab your smartphone from the bedside table. You’re still disoriented, but you decide to check your emails and something you see on the screen jolts you wide awake.

It’s a cheap flight alert to Japan from a subscription service you’d signed up for ages ago.

The deal looks too good to pass up, but there’s one problem: You don’t have a passport. So you wonder, “Can I book an international flight without a passport?”

Whether someone has never held a passport or they’re still waiting on a passport renewal, not everyone has a passport on them at all times.

So, can you book an international flight without a passport? Let’s take a closer look.

Do you need a passport to book an international flight?

Thankfully for daydreaming travelers, the answer is no.

In most cases, U.S. citizens don’t need a passport to book an international flight. However, you do need one to check in for your flight and get on a plane, and the document has to be valid. For instance, European countries that are in the Schengen area require at least six months of passport validity. Otherwise, you won’t be able to board a plane to countries in the region.

Other countries have different rules. For example, Mexico only requires your passport to be valid at the time of travel, so make sure to check the U.S. Department of State website for your destination’s requirements before traveling abroad.

Domestic trips within the United States don’t require a passport as long as you have a state ID or are enrolled in Clear.

How much does a U.S. passport cost?

The cost of a U.S. passport depends on whether you’re applying for the first time or renewing an expired passport.

First-time adult applicants will pay the following to get a new U.S. passport:

Passport book: $130.
Passport card: $30.
Passport book and card: $160.
Execution (acceptance) fee: $35.

The execution/acceptance fee must be paid for first-time applications, so all in: First-time passport book applicants can expect to pay around $165 total.

Applicants requesting to renew their passport will pay less because the acceptance fee doesn’t apply, so they’ll just pay the passport book or passport card cost listed above.

If you need a fast turnaround, expedited service costs an additional $60, and two-day delivery is listed for another $19.53.

How to apply for a U.S. passport

If you’re applying for a passport as a first-time applicant, follow the steps for an in-person application at a passport acceptance facility.

Fill out a form (new passport, renewal, data corrections, name changes).
Provide evidence of U.S. citizenship (with a photocopy).
Present ID (with a photocopy).
Provide a photo.
Calculate fees and provide a check or a money order payable to the U.S. Department of State (debit or credit cards aren’t accepted).
Submit all the documents to a passport acceptance facility.
Track your application status online.

Note that the acceptance fee will be charged separately. To locate a passport acceptance facility in your area, enter your ZIP code on this page.

In most cases, it’ll be a public library, a post office or a local government office.

Some states have passport agencies that can process your passport application within 14 days of international travel or within 28 days if you need to apply for a visa, but they’re open by appointment only.

How to renew a U.S. passport

Renewing a U.S. passport requires sending an application by mail. In fact, it’s not possible to renew a U.S. passport at a passport acceptance facility unless you don’t qualify for a mail-in renewal.

To be eligible for a renewal by mail, the following must be true:

You can submit your old passport with your application.
The passport isn’t damaged.
It’s never been reported lost or stolen.
It was issued in the last 15 years.
It was issued when you were 16 or older.
It was issued in your current name (unless you have a marriage certificate or a divorce decree to support a name change).
It wasn’t limited to fewer than 10 years because of multiple issues with passport theft, loss or damage.

Note that once you renew your passport, you’ll get a new passport number, so if you saved your passport number in a frequent flyer account, you’ll have to update the number and the expiration date before you can check in for an international flight.

The U.S. Department of State also has tested online renewals, but the service has been put on hold for now.

How long will you wait for a U.S. passport?

In 2023, the U.S. Department of State is on track to set the record for the number of passports processed. The department estimates 10 to 13 weeks for routine passport service and seven to nine weeks for expedited service.

It’s worth noting that mailing times aren’t included in the estimate, so you’ll have to account for that as well.

In short, you will need plenty of lead time to receive it before the travel date.

The bottom line

You don’t need a passport number to book an international flight. However, make sure to leave enough time for a passport renewal or a new application because it can take a while to process.

If you think you’re going to travel internationally, we recommend applying as soon as possible to have a passport ready. You don’t want to miss out on a great flight deal to Japan — or anywhere else — simply because you don’t have the required documents for international travel.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:

Source: nerdwallet.com