U.S. home equity declined for the first time in 11 years, but the downward trend could be short-lived, according to new data from CoreLogic.
The amount of equity among homeowners currently holding mortgages on their properties inched down 0.7% on an annual basis in the first quarter, resulting in an average loss of $5,400 per household and a collective total of $108.4 billion. It was the first case of negative annual growth since 2012, according to the property data and analytics provider’s quarterly homeowner equity report. Mortgaged homes comprise approximately 63% of all U.S. housing units.
The data marks a turnaround from three months earlier when homeowner equity increased by 7.3%, or $14,300, in equity year over year, representing nationwide growth in household wealth of $1 trillion. Meanwhile, 12 months earlier, in the first quarter of 2022, collective equity shot up by an even larger $3.8 trillion.
The first-quarter downturn largely reflects the deceleration and flattening of home values from month to month in the second half of 2022 after they surged to record highs less than a year earlier. But with recent data showing a small pick-up to start 2023, the current falloff may turn out to be a short-term blip rather than the beginning of a prolonged crisis, according to researchers.
“Home equity trends closely follow home price changes,” said CoreLogic Chief Economist Selma Hepp in a press release. “As a result, while the average amount of equity declined from a year ago, it increased from the fourth quarter of 2022, as monthly home prices growth accelerated in early 2023.”
Earlier in June, CoreLogic’s Home Price Index found housing costs had continued increasing between March and April by 1.2%, and were up 2% annually, running counter to earlier predictions.
Most of the 14 states posting annual drops in home equity levels were located in the West, where housing values previously soared thanks to elevated pandemic-fueled demand. Average equity fell the most in Washington State with a decrease of $74,300, followed by California and Utah, which saw home values depreciate by $59,600 and $37,400, respectively.
On the opposite end, homeowners in Hawaii, Florida and Rhode Island gained the most in equity with growth of $24,900, $24,500 and $23,700.
The lack of any significant rise from quarter to quarter in underwater mortgages — where the amount owed exceeds home equity available — also suggest early-year losses may turn out to be an anomaly, CoreLogic said. The number of underwater loans remained unchanged from the fourth quarter at 1.2 million, or 2.1% of all mortgaged properties. But compared to the first quarter last year, borrowers finding themselves in a negative-equity situation increased by 4% from 1.1 million homes.
Louisiana, Iowa and Oklahoma led all states in the share of underwater mortgages at 7%, 5.4% and 4.2%.
The rapid increase in home equity before last year’s dip began is protecting many homeowners, even when they find themselves struggling to keep up with payments. Housing researchers at both Black Knight and Attom similarly noted fewer borrowers falling into foreclosure this year, largely due to the amount of equity in hand.
“The average U.S. homeowner now has more than $274,000 in equity — up significantly from $182,000 before the pandemic, Hepp said. And future trends appear to indicate that some underwater homeowners who made their purchases when prices were at their highest should be able to see some return of value, according to CoreLogic.
“While homeowners in some areas of the country who bought a property last spring have no equity as a result of price losses, forecasted home price appreciation over the next year should help many borrowers regain some of that lost equity,” Hepp said.
After falling for three consecutive weeks, purchase mortgage rates jumped 14 basis points, reflecting the expectation that the Federal Reserve (The Fed) will maintain its tightening monetary policy to fight inflationary pressures.
According to the latest Freddie Mac PMMS, purchase mortgage rates this week averaged 5.23%, compared to 5.09% the week prior. A year ago at this time, 30-year fixed rate purchase rates were at 2.96%.
The government-sponsored enterprise index accounts solely for purchase mortgages reported by lenders during the past three days.
“After little movement the last few weeks, mortgage rates rose again on the back of increased economic activity and incoming inflation data,” said Sam Khater, Freddie Mac’s chief economist.
Another index also showed higher rates this week.
Black Knight’s Optimal Blue OBMMI pricing engine, which includes some refinancing data — but excludes cash-out refis to avoid skewing averages – measured the 30-year conforming mortgage rate at 5.5% Wednesday, up from 5.42% the previous week.
Creating a path to success in today’s purchase market
Meeting the needs of a new generation of homebuyers while managing the ebbs and flows of a volatile housing market is a major endeavor for any mortgage lender. So, what should lenders be doing to thrive in the face of a post-pandemic housing market rife with new hurdles?
Presented by: Calyx
The 30-year fixed-rate jumbo was at 5.05% Wednesday, also up from 4.97% the week prior, according to the Black Knight index.
Higher rates are reducing borrowers’ demand for mortgage loans. This week, mortgage application volume dropped 6.5% from the past week to the lowest level in 22 years: Refi applications declined 6% and purchase apps decreased 7%, according to the MBA.
The housing market is incredibly rate-sensitive, consequently, demand again is pulling back, according to Khater.
“The material decline in purchase activity, combined with the rising supply of homes for sale, will cause a deceleration in price growth to more normal levels, providing some relief for buyers still interested in purchasing a home,” he said.
Overall, mortgage rates are following the Fed’s inflation-fighting monetary policy. Minutes from the Fed’s meeting earlier this month showed policymakers emphasized the need to quickly raise interest rates to bring consumer prices closer to the Fed’s 2% goal.
The central bank raised the interest rate by a half percentage point on May 4 and unveiled a plan to reduce its $9 trillion asset portfolio. The Fed also has repeatedly signaled it will continue to raise rates in 2022 and into 2023.
According to Freddie Mac, the 15-year fixed-rate purchase mortgage averaged 4.38% with an average of 0.8 point, up from last week’s 4.32%. The 15-year fixed-rate mortgage averaged 2.23% a year ago.
The 5-year ARM averaged 4.12%, with buyers on average paying for 0.3 point, up from 4.04% the week prior. The product averaged 2.55% a year ago.
Economists expect the tightening monetary policy to reduce origination volume significantly in 2022 and 2023. The Mortgage Bankers Association expects loan origination volume to drop more than 35% to about $2.5 trillion this year, from last year’s $4 trillion. Meanwhile, the MBA expects 5.93 million home sales in 2022, compared to 6.12 million in 2021.
Fitch Ratings, however, in a May 31 report said the pace of falling mortgage originations has surpassed its expectations and it is likely to fall short of the industry forecasts by MBA and Fannie Mae.
When it comes to investing, you have two big decisions to make: What to buy, and where to buy it. As for the former, you have all kinds of choices: cash, bonds, stocks, funds, real estate, and a piece of carpet from Elvis’ jungle room (yes, I have a piece — at least, that’s what the guy who sold it to me said it was). Regarding the latter, most people have just three general options: a traditional retirement account, a Roth retirement account, and a regular investment account. This article is about the second category — how to make the most of your investment accounts.
Stop the Sprawl
If you’re like many investors, you have accounts spread throughout the financial services industry: an IRA or two here, a brokerage account there, perhaps a 401(k) still with a former employer. If you’re married, your spouse probably has a lineup to match. By consolidating as many of those accounts as you can with a single provider, you’ll unclog your mailbox and make tax time easier — and you can even make your portfolio fatter, thanks to these advantages:
Find a better balance. Determining your asset allocation can be tough when you have to look at lots of statements. Rebalancing across several accounts gets tricky; for example, you can’t sell the bonds in your 401(k) to buy stocks in your IRA.
Move money out of mediocre (or worse) accounts. This is especially true of money left in retirement plans from former employers, which often have limited investment choices at high costs.
Get extra services and discounts. Financial companies lure big accounts with lower fees, plus planning services such as a portfolio analysis or access to a Certified Financial Planner.
Find the Best Provider
Choosing a company that deserves the honor of holding your nest egg depends on your style of investing. Here are guidelines based on your investments of choice:
Mutual funds: You can use a single fund family or go with a fund “supermarket” (such as Fidelity, Schwab, or TD Ameritrade) that offers access to thousands of funds from many families. The former is the simplest and possibly the cheapest. The latter offers far more selection.
Funds and individual stocks: Check out the big brokerages that allow you to buy stocks as well as choose form thousands of funds. Look for reasonable stock commissions and a lineup of no-load funds labeled “NTF,” for “no transaction fee.” The Fool’s Broker Center compares the options from several providers.
Stocks and ETFs: Look for the cheapest trades. Many brokerages, including Fidelity, Schwab, and Vanguard, offer free trades on some ETFs.
To Roth or Not to Roth?
By investing after-tax money in a Roth account, you trade a tax break today for one tomorrow, as your earnings and withdrawals will be tax-free. Here’s a rule of thumb: If you’ll be in the same or a higher tax bracket when you retire, go with the Roth.
There is no longer an income limit for converting traditional accounts to Roths. The converted amount gets added to your taxable income in the year you make the move, so if your traditional account is down significantly and you’re contemplating changing it to a Roth, you may want to convert some while the account is down. (Check out this article to hear from several financial planners about why a Roth conversion might make sense, though the option to spread the tax bill over two years was available only in 2010.)
The Right Investments in the Right Accounts
Don’t overlook the art of asset location — deciding which investments to put into which types of accounts. You want to put the most tax-inefficient investments in the accounts that have the most tax advantages. Here’s a summary of what should go where:
Roth accounts: Stocks with a higher potential return (such as small-cap stocks and emerging-marking stocks) and real estate investment trust (REITs).
Traditional tax-deferred accounts: Slower-growth stocks, commodities funds, Treasury inflation-protected securities (TIPS), and bonds (though, given historically low yields, the argument for keeping bonds in an IRA is not as compelling as it used to be).
Taxable, non-tax-advantaged accounts: Low-yield stocks you plan to hold for several years, low-turnover stock funds (such as many index funds and ETFs), municipal bonds, and savings bonds and I bonds.
Those are general guidelines, and can be affected by several factors, such as when you’ll need the money and your ability to pick the stocks that will have the higher return (a difficult task, indeed). For example, keep money that you need before age 59 ½ out of retirement accounts since early withdrawals from an IRA or 401(k) may result in a 10% penalty (though there are exceptions). But they’re a good starting point.
Have a Recommendation?
As for which brokerage, fund company, or online bank to choose, I’ll leave that to you readers. Have any particularly good or bad experiences? Are you happy with whomever’s holding your money? Let us know.
Final note: Don’t forget to get your free Slurpee today! You see, today is my birthday, and in honor of my Womb Liberation Day, 7-11 stores are giving away free 7.11-ounce Slurpees from 11 a.m. to 7 p.m.
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.
It is no secret that the internet is changing how money is made forever.
This has caused a boom in many businesses and people the ability to make money online, which is a huge benefit for you!
This trend will only continue as technology improves. If it feels daunting to jump onto this new bandwagon right now, don’t worry; we have some tips that can help you double your 10k in the next few weeks or years.
I am going to show you how to double your money so that you can retire early, pay off debt and invest in the stock market.
A lot of people would say this is impossible, but I’m not just showing it–I’m proving it!
We all have said it takes money to make money and while that is true. It is easy to start doubling your money with just $10K.
What if, right now, you decided to double your 10K by the end of the year? Maybe, you want to hit a major goal and make a huge change in only 8 short weeks?
Making money is not a difficult task. Too often, people become impatient and think that they can simply make money without putting in the effort. This is not true.
Cash is a tool and nothing more. Once you understand this concept, you can begin to figure out how to make more money. Additionally, it’s important to appreciate that it takes time to make money – don’t expect to become a millionaire overnight.
Here is a realistic guide to help you work towards that goal.
Be sure to decide which strategic way to double $10k quickly works best for your personality.
The 10K of your dreams seems impossible.
How can I double $10000 fast?
There is no one-size-fits-all answer to this question, as the best way to double your money will vary depending on your individual circumstances and goals. However, some general tips include developing a growth mindset around money, finding ways to make more money, and investing in yourself and your skills.
Keep in mind that $10,000 is not a lot of money to double in a short period of time.
How long does it take to double 10k?
The answer to this question is dependent on a number of factors.
The most important factor is the amount of time it takes for your investments to double.
If you are investing in stocks, you can quickly double 10K with an options contract within 2-3 days. If you are looking at other avenues, it will depend on how you choose to double your money.
Typically, people start seeing results in approximately 4 to 6 months to double 10k.
If your eyes are set on this, then make sure to write down one of the millionaire quotes for motivation.
What to do with 10k?
Now that you’ve earned an extra 10k, you may be wondering what to do with it.
You could save it, spend it, or invest it, but there are a few other things you could do as well.
Here are some ideas on how to make the most of your money and grow it even more.
How can I Double my Money?
There are many ways you can double your money in a short amount of time.
I am passionate about exploring the best ways to make money online. In this article, I will share some tips on how you can double your money relatively quickly. However, please keep in mind that these are general ideas to get you started.
Specifically How to Double 10k Quickly?
If you are serious about how to double your 10k fast, you will need to dedicate time on a regular basis to the tasks needed to reach your ambition. The key is to do it daily in order to keep the momentum of your progress going.
Earning money is a mindset.
To double 10k quickly, learn how to change your mindset about money.
Although doubling $10,000 may seem difficult, it can be done with the right approach.
If you have $10,000 and want to double it within a month or a few months, here are a few realistic strategies to help you reach your goal.
Idea #1 – Swing Trading with Stocks
Swing trading is a technique that allows investors to hold onto stocks for a period of time, typically two to four days. During this time, the trader watches for specific price patterns and buys or sells shares based on their analysis.
One former assistant principal, Teri Ijeoma, changed her life when she left her job as an educator and become an active trader.
Check out: My Personal Trade and Travel Review
This type of trading can be very profitable if done correctly, as it allows the trader to make twice their investment in a short amount of time.
The key is you must learn how to invest in stocks for beginners. This is one step many people overlook when they are focused on doubling their money. Either you will get lucky or you will have a huge loss. Take time and become educated on swing trading stocks.
Related Reading: How Fast Can You Make Money in Stocks?
Idea # 2- Cryptocurrencies
Cryptocurrency is a digital or virtual asset that uses cryptography for secure transactions. Cryptocurrencies are growing in popularity and may become a major part of society. Bitcoin, the first and most well-known cryptocurrency, has seen its value skyrocket in recent years.
Cryptocurrencies are often unstable because they are not regulated by any government or financial institution, and thus their value can change rapidly. However, the potential for reward is high, making cryptocurrency an attractive investment option. Because of this, cryptocurrency investments are often seen as riskier than traditional investments, but also have the potential for greater returns.
Before investing in cryptocurrency, do your research and be sure you understand the risks involved. There are many educational resources available to help you get started.
Idea # 3 – Flip Items for a Profit
Retail arbitrage is a practice where an individual or company purchases a popular product at a discounted price and then resells it for profit at another online retailer. This can be done on marketplaces like Craigslist, eBay, and Facebook Marketplace.
This is a great way to make some extra money on the side. You need some time and a willingness to invest, but if you find the right deals, you can make a good return on your investment.
Many people have great success by flipping items from auctions, free groups, or local goodwill store.
Check Out: Flea Market Flipping
Idea #4 –Resell Products on Amazon FBA
Amazon FBA is a service for independent entrepreneurs who want to start their own e-commerce business. They can offer products on Amazon and work with Amazon directly to fulfill orders, collect payments, and provide customer service. By doing this, they don’t have to worry about the inventory and can focus on other aspects of their business.
This is another avenue for selling your flipping treasures.
There are a few ways to make money through reselling products. You can either find products to sell on Amazon or Ebay, or you can dropship products from a supplier. If you want to find your own products to sell, you’ll need to do some research on what is selling well and what prices are competitive. If you want to dropship, you’ll need to find a supplier and create an account with them.
Idea #5 – Start a Business or Invest in a Franchise Company
Starting a business is not easy. It requires a lot of work and effort, but if you’re willing to put in the time and effort it can be very rewarding.
Starting your own business is one of the most difficult things you can do, but it’s also one of the most rewarding. There are many different businesses you can start that have low overhead costs, so it’s a great way to get started.
Think of the things you enjoy doing or any hobbies you have. Look for business opportunities that line up with your interests. Then, it makes working much easier.
Here are great ways to make money on the side:
It is possible to make more money on your business than you make more money in your current job or career.
Idea # 6 – Real Estate Portfolio
Real estate is a recession-proof business.
There will always be people who need to rent or buy dwellings in boom or bust economic times.
Real estate can be a lucrative investment, but it is not without risk. A lot of people have invested in real estate and lost money, but an investor who does their research and finds a good deal can make a lot of money.
Idea # 7 – Increase Your Income
If you’re not happy with your current income, don’t worry! You can increase it this year.
This is the year that many experts are predicting will see the biggest wage growth in years. So start planning now and you could see a significant increase in your take-home pay.
More than likely, this could be your seed money of $10k to fund the start to doubling your money and making $20k.
Related Reading: How Much Do I Make Per Year?
Idea #8 – Advertise and Gain Clients
If you are a small business owner, then this one is for you. Start advertising as a way to gain more customers.
There are a number of ways to make your services more accessible and appealing to potential clients. One way is to spend money on promotions and advertising. Advertising can be effective in reaching your goals, surpassing your double your money goal of $20,000 in revenue.
There is no doubt that advertising your services will increase the number of customers you have. The more people who know about your business, the more likely they are to use it. And as we all know, the more customers you have, the quicker you earn more money.
It’s a simple equation: More customers equals more money.
Idea # 9 – Invest in Stock Market – ETFs & Index Funds
Investing in the stock market is a process that requires careful consideration and research. Index funds have become an increasingly popular investment option for many investors. ETFs are known as Exchange Traded Funds, which are also a popular investment option.
Both index funds and ETFs provide investors with the ability to invest in a diverse range of stocks, making them ideal for any investor who is looking to diversify their portfolio.
Investing in an index fund is one of the best ways to build wealth over time.
This is probably the slowest way to make money quickly in the stock market, but it comes with less risk.
With a mutual fund, you are essentially investing in many different stocks, which means that you get to choose how much your investments grow each day. This can be a great way to ensure that your money is working for you – and growing – even when you’re not able to actively monitor it yourself.
Just to know, investing in bonds will eventually double your money, but it will take more time as the rate of return is less.
Idea #10 – Start a Mining Farm
Cryptocurrency mining is a process by which new coins are introduced into the market. In order to do this, miners use computers to solve complex mathematical problems in order to receive rewards in the form of new coins. A cryptocurrency mining farm is a way to pool together multiple computers in order to increase the chances of solving these problems and receiving rewards.
Starting a mining farm is a process of investing in cryptocurrency or blockchain technology.
Mining farms can be started with as little as $500, and they are commonly used to mine cryptocurrencies like Bitcoin, Ethereum, and ZCash. Although the process of mining cryptocurrency is not always easy, it can be lucrative for those who invest in the process.
Starting a cryptocurrency mining farm can be lucrative, but it’s important to do your research first. The farm will require a lot of power and will have a rate of return of around 18% (source).
Idea #11 – Share Cash with P2P Loans
Peer-to-peer lending is the act of lending money to borrowers through a P2P lending website. These websites act as an intermediary between lenders and borrowers, and most sites allow you to lend money to a dozen or two applicants. The interest rate you earn on your loan depends on the P2P website you register with, but it typically falls between 3% and 36%.
When considering a P2P loan, it is important to remember that you are entrusting your money to a stranger. Because of this, it is crucial to take the time to review and assess as many applicants as possible in order to find someone who you feel is most likely to pay back their loan.
P2P loans can be arranged without any collateral or credit check.
Idea #12 – Buy Initial Public Offerings
When a company decides to go public, it sells shares of its stock to the public. This is a way for the company to get more money, and it also allows people who invest in the company early on to make a lot of money if the stock prices rise.
The share price of a company can be very volatile when it first goes public. This can lead to significant growth for the company as investors buy and sell shares rapidly. However, this volatility can also lead to losses if the share price falls abruptly.
You must know the underlying stock value before looking at IPOs as a way to double your money. Many current stockholders are required to hold their stocks for a certain number of days after the IPO. Typically, the stock price falls after the hold period expires.
Idea #13 – Make Money with Airbnb
There are a number of ways to make extra money, and renting out a room at Airbnb is one of them. You can also learn how to make money from home by becoming an Airbnb host.
By doing this, you can provide a valuable service to people who are looking for a place to stay, and you can also make some extra money on the side.
Learn how to start hosting with Airbnb today.
Idea #14 – Flip Some Furniture
Flip furniture is very trendy right now. There has been a recent resurgence in popularity for antique and vintage furniture, and people are buying pieces and restoring them themselves. This can be a great way to make additional money without spending a lot of money.
There are a number of ways to quickly turn a profit by flipping furniture.
Spend some time researching the best methods and finding a niche in the market that you can exploit. With a bit of hard work, you can easily double your investment in no time.
When you are looking for furniture to flip, it is important to do your research and become familiar with the different places you can find quality pieces at a low cost. Local antique stores will often have hidden treasures, so be sure to check them out. Additionally, watch for yard sale notices in your area; people are often willing to sell high-quality furniture at a fraction of the price. Finally, estate sales can be a great place to find unique furniture pieces that you can resell for a profit.
There are many ways to sell furniture, but when you are starting out, it is best to use popular platforms like Facebook Marketplace, NextDoor, Craigslist, and others. Once you have more experience, you may want to create a website and online storefront.
This can be a fun and lucrative way to grow your money.
Idea #15 – Pay Off Debt Strategy
This idea of getting out of debt may seem backward, but this is one of the fastest ways to find extra money in your budget.
There is no doubt that paying off your debt is one of the smartest things you can do for your financial future.
Not only does it reduce the amount of interest you are paying each month, but it also frees up more money to save and invest. Additionally, by paying off high-interest debt first, you are essentially making an investment with a very high return rate.
Once your debt is paid off, you can save your first $10000 which you can now use to quickly double to $20000. This will help you achieve your financial goals faster.
Idea #16 – Online Courses & Coaching Programs
Coaching is a huge business – reaching $11 billion in 2022 (source). People are actively searching for coaching and online courses for personal development.
Coaching programs are designed to provide guidance and support for individuals in order to improve their skills, knowledge, or habits. Coaching programs can take the form of one-on-one sessions or group sessions. Some coaching programs are designed for specific topics like career development, personal growth, or relationship issues.
If you don’t want to work one-on-one as a coach, you can create an online course that can be viewed at any time.
If you have passion, you can likely find people that want coaching.
Idea #17 – Buy a Fancy Car and Uber
You could buy a new, luxury car and become an Uber driver. This would allow you to make money while driving people around in your fancy car.
If you’re looking to make some extra money, driving a luxury car for Uber could be a great way to do it. Not only will you make more per trip, but you’ll also get to drive a nicer car. Keep in mind that if you drive full-time, you could easily double your $10,000 investment.
Driving a luxury car for Uber can get you up to 50% more fares. The extra money can be great for those looking to upgrade their lifestyle or simply want to make some extra cash on the side.
If you want to buy a fancy car and use it for Uber, make sure you have the appropriate insurance. This will protect you in case anything happens while driving.
Idea #18 – Learn a New Skill
A new skill can help to increase your income by allowing you to do things that you couldn’t do before. For example, learning how to code can allow you to start a new career in tech or programming.
Additionally, many skills have the potential to double your income quickly if you are able to find a way to use them in high-demand areas.
It is always a good idea to invest in learning new skills.
There are many places where you can learn, including online and in-person courses. The key to success is jumping in with both feet and really dedicating yourself to learning the skill set. Once you have it down, new opportunities for income will be available.
Idea #19 – Work More Overtime
Working overtime is a great way to earn extra money. You can earn up to double-time pay for working more than 8 hours in a day or 40 hours in a week.
Overtime is becoming more common, so be sure to ask your employer if you can work some extra hours.
In order to make $10,000 in one month from overtime, you would need to figure out how many extra hours per work you need to work.
Idea #20 – Some Gambling?
This is the RISKIEST option of all of them. And highly not recommended as a strategic way to double $10k quickly.
Gambling is a way to risk cash in the hopes of making more cash.
While it can be thrilling and exciting, it’s important to remember that gambling is also a form of entertainment that comes with risk. If you’re able to afford it, gambling can be a way to double your money- but be aware that you could also lose everything you put in.
What is the quickest way to double your money?
How to double your money quick is simple. You need to side hustle and start a business.
Also, the stock market is a simple way to double your money with the rule of 72.
Following billionaire morning routines can be helpful in setting up solid habits for success.
How can I double my money in 24 hours?
The answer to this question is simple… Doubling the money in 24 hours is not practical or doable. You might be able to double your money in 24 hours, but it’s also possible that you could lose everything in one day.
Pay attention to scams if you think you can double your money in 24 hours.
You are better off learning how to make 10k a month.
Which investments are the safest and which are the riskiest?
First of all, it depends on your education, experience, and background.
The best way for someone to double their income is by leveraging their time with the right strategies.
Investments that are considered safe are investments that have an average return on investment of about 8-12% per year. Investing in index funds and ETFs typically have a lower risk. Investing in individual stocks is riskier, but they have an average return on investment of about 10-75% per year.
The riskiest option is the idea that you don’t understand how to double your money and you could end up losing more money.
Best Way to Invest 10K
The best way to invest 10,000 is through stocks. Investing in stocks can be risky and make you lose money, but it also has a high potential for gaining value.
As such, this topic needs to be done in more depth to understand how investments in the stock market work. For now, here are some articles to start to understand the returns of stock investing.
Learn all of the ways you can learn how to invest 10k.
You must do your research on companies, know your risk tolerance, understand the volatility of the markets, and be wary of the news.
Which Strategic Ways on How to Double my Money Quickly will you Pick?
You can choose from many classic way and options, but here are a few that we think would be the most effective.
Thankfully, there are many ways to make money online. But when it comes to making a quick buck, which approach should you take?
In this post, we have outlined the 20 popular routes to double your $10k fast. Your retirement plan relies on your investment of 10k.
However, any of these options is a time-consuming process that takes a lot of hard work and dedication. So, you cannot quit halfway through when things get tough.
This is what you want to do in order to be financially secure and take care of all your needs.
Be successful in doubling your 10k by setting a deadline to make it happen.
Then, your next goal will be how to turn 10k into 100k.
Know someone else that needs this, too? Then, please share!!
Purchase mortgage rates this week averaged 5.81%, compared to 5.78% the week prior, when rates rose 55 basis points, the largest 1-week increase since 1987, according to the latest Freddie Mac PMMS index.
A year ago at this time, 30-year fixed rate purchase rates were at 3.02%. The PMMS, a government-sponsored enterprise index, accounts solely for purchase mortgages reported by lenders during the past three days.
“Fixed mortgage rates have increased by more than two full percentage points since the beginning of the year,” said Sam Khater, Freddie Mac’s chief economist, according to a statement.
However, another index showed mortgage rates declining this week.
Black Knight’s Optimal Blue OBMMI pricing engine, which includes some refinancing data — but excludes cash-out refis to avoid skewing averages – measured the 30-year conforming rate at 5.9% Wednesday, down from 6.03% the previous week. The 30-year fixed-rate jumbo was at 5.33% Wednesday, a decline from 5.46% the week prior, according to the Black Knight index.
Mortgage rates tend to move in concert with the 10-year Treasury yield, which reached 3.16% Wednesday, down from 3.33% a week before.
According to Khater, the combination of rising rates and high home prices likely is the driver behind recent declines in existing home sales.
“However, in reality, many potential homebuyers are still interested in purchasing a home, keeping the market competitive but leveling off the last two years of red-hot activity.”
Mortgage application volumes rose 4.2% from the past week, propelled by borrowers’ demand for purchase loans. Refi applications decreased 3% from the prior week, and purchase apps ticked up 8%, according to the Mortgage Bankers Association (MBA).
According to Freddie Mac, the 15-year fixed-rate purchase mortgage averaged 4.92% with an average of 0.9 point, up from last week’s 4.81%. The 15-year fixed-rate mortgage averaged 2.34% a year ago.
The 5-year ARM averaged 4.41%, with buyers on average paying for 0.3 point, up from 4.33% the week prior. The product averaged 2.53% a year ago.
Purchase mortgage rates this week averaged 5.81%, compared to 5.78% the week prior, when rates rose 55 basis points, the largest 1-week increase since 1987, according to the latest Freddie Mac PMMS index.
A year ago at this time, 30-year fixed rate purchase rates were at 3.02%. The PMMS, a government-sponsored enterprise index, accounts solely for purchase mortgages reported by lenders during the past three days.
“Fixed mortgage rates have increased by more than two full percentage points since the beginning of the year,” said Sam Khater, Freddie Mac’s chief economist, according to a statement.
However, another index showed mortgage rates declining this week.
Black Knight’s Optimal Blue OBMMI pricing engine, which includes some refinancing data — but excludes cash-out refis to avoid skewing averages – measured the 30-year conforming rate at 5.9% Wednesday, down from 6.03% the previous week. The 30-year fixed-rate jumbo was at 5.33% Wednesday, a decline from 5.46% the week prior, according to the Black Knight index.
Mortgage rates tend to move in concert with the 10-year Treasury yield, which reached 3.16% Wednesday, down from 3.33% a week before.
According to Khater, the combination of rising rates and high home prices likely is the driver behind recent declines in existing home sales.
“However, in reality, many potential homebuyers are still interested in purchasing a home, keeping the market competitive but leveling off the last two years of red-hot activity.”
Mortgage application volumes rose 4.2% from the past week, propelled by borrowers’ demand for purchase loans. Refi applications decreased 3% from the prior week, and purchase apps ticked up 8%, according to the Mortgage Bankers Association (MBA).
According to Freddie Mac, the 15-year fixed-rate purchase mortgage averaged 4.92% with an average of 0.9 point, up from last week’s 4.81%. The 15-year fixed-rate mortgage averaged 2.34% a year ago.
The 5-year ARM averaged 4.41%, with buyers on average paying for 0.3 point, up from 4.33% the week prior. The product averaged 2.53% a year ago.
The internet is a great source of information about personal finance.
But if you want to dig deeper into a money mindset or financial philosophy, there’s still no substitute for a good old-fashioned book. That’s why even successful bloggers and TV personalities also publish books — it gives them an opportunity to flesh out their worldview in a comprehensive, detailed way.
I’ve had something of an obsession with finance books for most of my adult life, and I’ve waded through my share of mediocre writing. Unfortunately, being a finance expert doesn’t make you a good writer, and being a good writer doesn’t mean you know jack about finance.
But when you find a book with a well-articulated and thought-provoking perspective, it can change your life forever. Here are some of my favorite personal finance reads.
What’s Ahead:
Overview: best finance books
Best book for beginners: Get Good with Money by Tiffany Aliche
Tiffany Aliche doesn’t assume any level of financial savvy in this book. It starts at the beginning and goes from there. Get Good with Money teaches simple techniques for getting control of your finances in a way that works for you.
This book lays out the author’s 10-step guide to “financial wholeness.” She describes financial wholeness as all aspects of your life working together for the greatest good.
Grab Get Good with Money here.
Dave Ramsey has been a personal finance legend for decades, starting with the 1997 publication of his book, “Financial Peace.”
If becoming debt-free is your number one goal, then The Total Money Makeover is where you should start. It gives solid step-by-step directions to pay off your debt. Dave Ramsey coined the term “debt snowball” and this method is widely regarded as the most effective way to pay debt off.
Grab The Total Money Makeover.
“The Simple Path to Wealth” is a book about the incredible power of index funds. That sounds about as boring a topic as you could imagine, but it’s surprisingly easy to read.
JL Collins explains how index funds work and why they are a great place to get started when investing in the stock market.
If you are nervous about investing in the stock market this book will soothe your fears. You’ll walk away from this quick and easy read with a solid understanding of how index funds work.
Grab The Simple Path to Wealth.
Author John Bogle is the founder of The Vanguard Group, an investment firm famous for its index funds.
He believed that index funds, which track a specific index like the S&P 500, provide a better return than individual stocks.
This book will give you an in-depth education on stock investing, but be warned that it is not an easy read. However, it’s pretty much required reading for anyone who is serious about investing.
Plus, who better to learn from than the founder of one of the largest investment firms in the world?
Grab The Little Book of Common Sense Investing
Best book for easy money management: The Automatic Millionaire by David Bach
This book takes the adage “pay yourself first” to a whole new level. David encourages you to put your money on autopilot so you can be sure you are saving what you need to save without having to rely on willpower or complicated budgeting systems.
If you are looking for a plan to manage your money with as little effort as possible, while still meeting your goals, this is worth the read.
Grab The Automatic Millionaire.
Best book for spenders: I Will Teach You to be Rich by Ramit Sethi
Along the same lines as David Bach, Ramit is a proponent of setting up automatic systems for your money so you don’t get caught up in the small details.
He also encourages the idea of earning more money rather than paring down spending as a way to build wealth. He despises extreme frugalism and instead encourages you to spend lavishly on the things in life that are important to you while cutting back ruthlessly on the things that are not.
Grab I Will Teach You to be Rich.
Best book for early retirement: Your Money or Your Life by Vicki Robin
Your Money or Your Life is a rallying point for the FIRE (financial independence, retire early) community.
This book will challenge your relationship with money and encourage you to look again at your current lifestyle.
Some critics disagree with the investment advice in the book, so read this book if you are looking to change your relationship with money and consumer culture — and consider getting your investment advice from another book on this list.
Grab Your Money or Your Life.
Best book for simple finances: The One-Page Financial Plan by Carl Richards
Famous for his financial doodles in The New York Times, columnist and financial planner Carl Richards demystifies the financial planning process in his second book.
He says that a great financial plan has nothing to do with what the markets are doing and everything to do with what is most important to you. Pick up this book if you are looking to create a simple, values-based financial plan.
Grab The One Page Financial Plan here.
Best book for 20-somethings: The Millionaire Next Door by Thomas Stanley and William D. Danko
Stanley and Danko analyzed the behavior and habits of millionaires to show how they save, spend, and invest money.
The findings were surprising.
It turns out that people with a net worth of $1 million or more tend to live in middle-class neighborhoods, not in gated communities. It’s a fascinating look at how real people create and keep wealth.
Grab The Millionaire Next Door.
Best book for motivation: Think and Grow Rich by Napoleon Hill
One of the original personal finance books, Think and Grow Rich was published in 1937, in the aftermath of the Great Depression. The book’s lessons are distilled from interviews with the most successful people of the day, including Henry Ford, John D. Rockefeller, and Charles M. Schwab.
Hill takes their lessons and reworks them into bite-size formulas that the everyday layperson can follow. It’s not necessarily solely geared toward making someone financially successful, but successful in all aspects of life. He wants you to chase after your wildest dreams, no matter how crazy they might sound.
Grab Think and Grow Rich.
Summary
Nothing beats an old-fashioned book when it comes to learning about a specific topic, and these 10 books can help you get started on your journey into personal finance.
In response to increased anti-LGBTQ+ legislation efforts in the U.S. in 2023, the Human Rights Campaign has declared what it calls a state of emergency for members of the LGBTQ+ community. It also released new state-by-state guidance on issues for the community in various states.
On June 6, the LGBTQ+ lobbying group released a guidebook aimed at the 75-plus bills that have been implemented in 2023 to restrict LGBTQ+ persons. They include more than 200 proposed bills targeting transgender youth.
The warning from the HRC comes at the beginning of Pride Month when hundreds of thousands of people will travel across the country to attend Pride parades.
It also follows a slate of anti-gay laws signed into law in places like Florida, where some Pride events have been canceled due to fears over safety. The NAACP issued a travel warning for Florida, saying the state has become hostile ” … toward African Americans, people of color and LGBTQ+ individuals.”
We asked the HRC for a statement on potential travel warnings but did not receive a response in time for publication. However, the HRC report offers insights into the group’s decision to issue the warning and guidance.
“In 2023, we entered a new phase of legislative attacks, with bills passing in many states designed to erase entire communities of people under the law,” the HRC report says. “These new laws create dangerous situations and keep people from being able to participate in public life. More than 525 anti-LGBTQ+ bills have been introduced in 41 states in 2023 alone, with 220+ specifically targeting transgender youth.”
The report considers actions taken by states, such as banning drag shows, promoting conversion therapy and opposing gender-affirming care. It also includes states’ stance on bathrooms based on transgender identification and participation in school sports by transgender students. Additionally, the HRC outlines states with legislation like the LGBTQ+ Erasure Act, the “Don’t Say Gay” bill, pronoun refusal laws and forced student outing laws.
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HUMAN RIGHTS CAMPAIGN
The HRC says its guide is “designed to support all individuals and families regardless of their choices or options” and also provides resources for those in affected states.
For example, the HRC suggests visitors and locals review its State Equality Index, a comprehensive report of statewide laws and policies affecting members of the LGBTQ+ community and their families. The HRC also encourages people to examine its Municipality Equality Index for a more in-depth look at laws in specific cities. For more resources, the HRC provides an interactive State Maps feature outlining relevant laws and policies related to non-discrimination, healthcare and youth, among other issues that affect members of the LGBTQ+ community.
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This year so far, the HRC notes that 41 states have introduced more than 500 anti-LGBTQ+ bills, including 22 states that now restrict participation in school sports by transgender students and 10 states that restrict restroom access for transgender students. It also notes that 19 states have bans on gender-affirming healthcare for transgender and nonbinary minors, with one additional bill on a governor’s desk as of the report’s publication.
Nationally, much attention has focused on recent Florida legislation signed by Gov. Ron DeSantis impacting schools, including legislation restricting educational materials, such as books and teacher instruction related to gender and sexuality, along with legislation that prohibits transgender people from using restrooms in publicly owned spaces like airports.
“In 11 states, school personnel can either misgender transgender students, be forced to “out” them to their parents — even if that puts the student in danger at home — or be bound by ‘Don’t Say LGBTQ+’ laws that restrict their ability even to acknowledge the existence of LGBTQ+ people,” the HRC report says.
“Several states have combined administrative attacks on transgender youth and their families with legislative attacks, including Florida, Missouri and Texas,” the HRC report continues. “Several of these laws have been enjoined by federal courts, and dozens of additional lawsuits have been filed in recent months.”
Purchase mortgage rates climbed 55 basis points, reflecting surging inflation and the Federal Reserve‘s (The Fed) tightening monetary policy.
According to the latest Freddie Mac PMMS, purchase mortgage rates this week averaged 5.78%, compared to 5.23% the week prior. A year ago at this time, 30-year fixed rate purchase rates were at 2.93%.
“Mortgage rates surged as the 30-year fixed-rate mortgage moved up more than half a percentage point, marking the largest one-week increase in our survey since 1987,” said Sam Khater, Freddie Mac’s chief economist, according to a statement.
The government-sponsored enterprise index accounts solely for purchase mortgages reported by lenders during the past three days. Another index showed rates greater than 6% this week.
Black Knight’s Optimal Blue OBMMI pricing engine, which includes some refinancing data — but excludes cash-out refis to avoid skewing averages – measured the 30-year conforming mortgage rate at 6.03% Wednesday, up from 5.5% the previous week.
The 30-year fixed-rate jumbo was at 5.46% Wednesday, up from 4.99% the week prior, according to the Black Knight index.
Creating a path to success in today’s purchase market
Meeting the needs of a new generation of homebuyers while managing the ebbs and flows of a volatile housing market is a major endeavor for any mortgage lender. So, what should lenders be doing to thrive in the face of a post-pandemic housing market rife with new hurdles?
Presented by: Calyx
Higher rates usually reduce borrowers’ demand for mortgage loans. But, this week, mortgage application volume rose 6.6% from the past week as potential borrowers wanted to guarantee a lower rate: Refi applications increased 4% and purchase apps ticked up 8%, according to the Mortgage Bankers Association.
Overall, mortgage rates are following the Fed’s inflation-fighting monetary policy. Wednesday, the Fed raised the federal funds rate by 75 basis points, to 1.50-1.75%, a hike not seen since 1994. Friday, the inflation price index showed 8.6% increase in May.
And more rates hikes are expected to come out of the Fed meeting in July. During a news conference following the Fed’s committee meeting, Chairman Jerome Powell said: “Either a 50 bps or a 75 bps increase seems most likely at our next meeting.”
However, Powell said the central bank will react to incoming data.
“Any guidance that we give is always going to be subject to things working out about as we expect,” he said. “I like to think though that our guidance is still credible, but it’s always going to be conditional on what happens.”
The Fed’s actions are intended to restore greater balance to supply and demand in the housing market, which now faces inventory problems and rising housing prices.
“Higher mortgage rates will lead to moderation from the blistering pace of housing activity that we have experienced coming out of the pandemic, ultimately resulting in a more balanced housing market,” Khater said.
According to Freddie Mac, the 15-year fixed-rate purchase mortgage averaged 4.81% with an average of 0.9 point, up from last week’s 4.38%. The 15-year fixed-rate mortgage averaged 2.24% a year ago.
The 5-year ARM averaged 4.33%, with buyers on average paying for 0.3 point, up from 4.12% the week prior. The product averaged 2.52% a year ago.
Homebuyer affordability decreased slightly in May, as new mortgages took up a larger share of a the average person’s income while rates trended higher. High inflation and rising mortgage rates won’t lessen the burden on new home buyers in the coming months.
The national median payment applied for by applicants rose to $1,897 last month from April’s $1,889, according to the Mortgage Bankers Association (MBA). The national median mortgage payment for conventional loans was $1,960, down slightly from April’s $1,967, but significantly higher than a year ago, when it was $1,394 in May 2021. Federal Housing Administration (FHA) loan payments rose to $1,430 in May from the previous month’s $1,374.
“The ongoing affordability hit of higher home prices and fast-rising mortgage rates led to a slowdown in purchase applications in May,” said Edward Seiler, MBA’s associate vice president for housing economics and executive director at the Research Institute for Housing America, according to a statement.
“While the median principal and interest payment only increased $8 from April, a typical borrower is paying $514 more through the first five months of 2022 – a jump of 37.1%,” he said.
The average purchase mortgage rate rose to 5.27% in early May, according to Freddie Mac PMMS, a 13-year high until it surpassed the 6% level in June.
Citing inflationary pressures and mortgage rates above 5%, Seiler said the MBA expects sales of new and existing homes to fall below 2021 levels. The agency expects some 5.76 million existing homes to sell in 2022, well below the previous year’s sale of 6.13 million existing homes. New home sales are forecast to remain slightly more stable, with the sale of 769,000 new houses projected, down from 771,000 new houses sold last year.
The purchase applications payment index (PAPI), which measures how new monthly mortgage payments vary relative to income, rose 0.4% to 163.4 in May from 162.8 in April. An increase in MBA’s PAPI, indicative of worsening borrower affordability conditions, means the mortgage payment to income ratio is higher due to increasing application loan amounts, rising mortgage rates, or a decrease in earnings.
Black and white households’ homebuyer affordability dropped at the steepest rate at 0.7 points. The index for Black households rose to 166.6 and climbed to 164.3 for white households in May from April.
Borrowers in Idaho are facing the greatest affordability challenges with a PAPI index coming in at 253, followed by Nevada (249.7), Arizona (233.5) and Utah (210.9).
Meanwhile, borrower affordability conditions were best in Washington D.C. (99.7), with Alaska (102.6), Connecticut (111.2) and West Virginia (113) trailing behind.