median

Apache is functioning normally

Apache is functioning normally

Rates moved only moderately higher on Wednesday after the Fed rocked the bond market with its updated rate forecasts.  To reiterate yesterday’s analysis, it’s not that the market is expecting the Fed to be accurate in those forecasts.  Rather, the forecasts help investors understand how the Fed’s approach will be calibrated going forward.

In simpler terms, the Fed doesn’t think rates are too high right now.  If anything, they might need to go higher.  Moreover, they won’t go lower until economic data really starts to deteriorate in a compelling way. 

Unfortunately, this morning’s most relevant economic report didn’t deteriorate at all (weekly jobless claims were 201k versus a median forecast of 225k).  Actually, it’s fortunate for the economy, but unfortunate for interest rates.  

Between the data and the overnight momentum in overseas markets, bonds are at their weakest levels in years.  Mortgage-backed securities (the bonds that dictate mortgage rates) didn’t swoon quite as much as Treasuries, but as of today, it was just enough to push the average mortgage lender almost perfectly back in line with the highest 30yr fixed rate of the past 23 years. 

Source: mortgagenewsdaily.com

Apache is functioning normally

Apache is functioning normally
  • Existing home sales fell 0.7% in August from the prior month as higher mortgage rates lead to limited supply of homes for sale.
  • Sales fell to an annualized rate of 4.04 million units, below the pandemic low of 4.09 million.
  • “Home prices continue to march higher despite lower home sales. Supply needs to essentially double to moderate home price gains,” NAR economist Lawrence Yun said.

Apache is functioning normally

Apache is functioning normally

The FOMC also said it would continue to reduce its holdings of Treasury securities and agency debt and agency mortgage-backed securities.

During a press conference with reporters on Wednesday, Fed Chair Jerome Powell said that the committee decided to leave their policy interest rate unchanged. However, looking ahead, he did not exclude the possibility of another hike.

In spite of a higher-than-expected CPI reading in August, core inflation readings have been falling every month in 2023. Meanwhile, the pace at which new jobs were added to the economy slowed. Other labor market indicators, such as job openings and the unemployment rate, also point to a cooling economy, Danielle Hale, chief economist at Realtor.com noted.

Today’s decision not to raise rates will likely influence credit markets.

“In the mortgage market, for instance, consumers who have been holding off may begin to be motivated by the announcement to consider making the home purchase they have been waiting on,” Michele Raneri, vice president and head of U.S. research and consulting at TransUnion, said. 

In fact, mortgage applications picked up in the week leading up to the Fed meeting, signaling a wave of optimism. 

The CME FedWatch Tool showed a 99% chance the Fed would halt its hikes to the 5.25 to 5.5% range on Wednesday morning, according to interest rate traders. However, only 70.9% of these investors bet officials will freeze the rate hike at the November 1st meeting. 

On Monday, mortgage rates for 30-year fixed-rate mortgages were at 7.21%, according to HousingWire‘s Mortgage Rates Center. However, at Mortgage News Daily, mortgage rates were higher on Tuesday, at 7.30%.

The effects of tighter policy have already reverberated across the economy. While mortgage rates have steadied just below recent highs, they remain more than 3 percentage points above their pandemic-era lows. In the housing sector, the combined impact of higher rates and higher home prices drove the cost of financing a home up more than $400, or 22.5%, from a year ago.

Overall, the market has been rather optimistic about the rate picture this year. However, a number of experts are concerned that lifting rates too high could send the economy into recession.

Inflation picked up to 3.7% in August, down significantly from where it was a year ago but still higher than the 2% threshold. Core inflation—which excludes food and energy costs—rose 4.3% in August. Raising interest rates is designed to tackle those still-high prices outside of the volatile food and energy sectors.

If shelter was excluded from the CPI calculation, inflation would be about 1% in August, said Bright MLS Chief Economist Lisa Sturtevant last week. In August, the rent index was up 7.2%, rising for the 40th consecutive month. Meanwhile, rent growth slowed considerably and median rents nationally fell year-over-year in August, according to Sturtevant. Additionally, apartment construction is strong, which puts an additional pressure on landlords to avoid vacancy. In the second quarter of 2023, the national vacancy rate was 6.3%, up from 5.6% a year earlier. However, it takes months for those aggregate rent trends to show up in the CPI measures.

What’s next?

Although the Fed decided to hold steady this time, it remains fixated on taming inflation and bringing it back to the 2% target. In light of this goal, Realtor.com’s Hale expects the Fed to keep the option for an additional future rate hike on the table. 

During the press conference, Powell remained  extremely cautious, insisting on the Fed’s data dependent approach. He reiterated that the decisions that will be made at the two remaining meetings in 2023 will depend on the totality of all the data gathered, including the inflation data, the labor market data, the growth data, the balance of risks, etc. As is custom now, he sidestepped questions from reporters about what would prompt the FOMC to raise rates again before the end of 2023 or hold them steady.

Powell also shared the committee’s economic projections, showing a longer period of elevated rates.

“FOMC participants expect the rebalancing in the labor market to continue, easing upward pressure on inflation,” Powell said. “The median unemployment rate projection in the summary economic projections rises from 3.8% at the end of this year to 4.1% over the next two years.”

Meanwhile, the median projection for total PCE inflation is 3.3% this year, 2.5% next year and to reach 2% in 2026, he added.

Even though inflation remains well above the Fed’s longrunning goal of 2%, he acknowledged that inflation has moderated since the middle of last year.

On the housing market, he noted that activity “picked up somewhat” although it remains well below the levels of a year ago, largely reflecting higher mortgage rates. 

Indeed, Sturtevant highlighted the resilience of the housing market in the face of rising interest rates. “Over the past year, buyer interest has remained high, home prices continued to rise in most markets, and homebuilding activity has surged,” she said.

However, she underlined that, even with today’s pause, the aggressive rate hikes have had major and somewhat deferred impacts on the housing market. 

As demand might decline in the fall, Sturtevant expects home prices to fall in some markets. However, price declines will remain modest as supply will remain low, she added. 

“The biggest downfall of the market cooling is that many individuals and families–particularly first-time homebuyers–have been priced out of the market as a result of the Fed’s aggressive rate increase,” she said.

This afternoon’s projections give valuable insight into the amount of improvement in inflation that the Fed would want to see before pausing or ending the current tightening. 

“The Federal Reserve is rightly on pause and is looking for more data before determining its next course on interest rates,” NAR Chief Economist Lawrence Yun said. “With fewer job openings, slowing job gains, and softening core consumer price inflation, the Fed must consider the potential economic damage arising from any future rate hikes.”

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

The capital of Ohio, Columbus, is famous for being home to the first Wendy’s — yes, that fast-food chain — but it offers much more than that along the banks of the Scioto River.

The city underwent many name changes during its first days in the 1800s, later nicknamed “Arch City” after builders put arches over city streets. You can also experience the deep Native American and Appalachian roots and history in the area.

Established historic neighborhoods like German Village offer some of the city’s oldest buildings as housing options, as well as beautiful, quiet tree-lined streets. Elsewhere, up-and-coming spots like Short North, the Brewery District and Downtown Columbus offer walkability, short commutes and fun arts and nightlife amenities.

Ready to explore Columbus? Here are the 15 best neighborhoods in Columbus.

  • Median 1-BR rent: $1,212
  • Median 2-BR rent: $1,485
  • Walk Score: 88/100

South of the German Village, the Brewery District is as hip as it gets. Music venues and brewery bars line the streets of this neighborhood. Plus, a high walkability factor makes it even more alluring. Watch your favorite comic at Shadowbox Live on weekends. You can also head to the nearby trails at Scioto Audubon Metro Park, bordering the Scioto River.

You can find a one-bedroom apartment for $1,212 per month on average in the Brewery District. Head to pup-friendly Gresso’s for a slice before heading on a brewery hop.

  • Median 1-BR rent: $819
  • Median 2-BR rent: $1,049
  • Walk Score: 68/100

Only six miles from downtown and convenient to Ohio State University, Clintonville has a mix of young professionals and college students. The beautiful Rose Gardens at Whetstone Park will captivate you with their scent, trailing above arches and along walkways. You can also explore the six glacial ravines that cut through the neighborhood, like Glen Echo.

On the weekends, enjoy that high walkability score by heading to High Street for a bite at the many establishments like Lineage Brewing or enjoy a vegan sweet treat at Pattycake Bakery. You can find a one-bedroom apartment in the area for $819 per month on average.

  • Median 1-BR rent: $1,462
  • Median 2-BR rent: $1,987
  • Walk Score: 78/100

The heart of Columbus, Downtown, has as much life as you expect. An outdoor amphitheater, the Columbus Museum of Art, a river walk along the Scioto River, National Veterans Memorial and Museum are just some of the things that make downtown shine. The Scioto Mile connects more than 175 acres of green spaces through the area.

Public transit abounds in the area, making it easy to ditch your car in favor of walking to enjoy the nightlife. You can find a one-bedroom for $1,462 per month on average.

  • Median 1-BR rent: $739
  • Median 2-BR rent: $1,200
  • Walk Score: 61/100

Franklin Park is the most gorgeous when in bloom. Visit the Franklin Park Conservatory and Botanical Gardens to enjoy the warm months and picnic in any corner of the 88-acre park. Just east of downtown, the historic neighborhood offers a farmers market in the summer or grab some tacos nearby at Alebrijes.

You can enjoy this quiet neighborhood by renting a one-bedroom for an affordable $739 per month on average, only two miles from downtown Columbus.

  • Median 1-BR rent: $625
  • Median 2-BR rent: $725
  • Walk Score: 58/100

An up-and-coming artists’ hub, the neighborhood of Franklinton has started creating its own personality in recent years. Right to the west of downtown Columbus, Franklinton is home to breweries, artists’ studios and newer co-working spaces — all on the background of the neighborhood’s history and industrial past.

The Land-Grant Brewing Company and Taft’s Brewpourium anchor Franklinton’s beer scene and mural art adorn several buildings in Columbus’ oldest neighborhood. The neighborhood is quickly changing, but you can still find affordable rents at $625 per month on average for a one-bedroom.

Franklinton residents have an average commute of 20 minutes, thanks to its proximity to Downtown.

  • Median 1-BR rent: $1,295
  • Median 2-BR rent: $1,850
  • Walk Score: 90/100

It’s no surprise that the German Village neighborhood attracts young families and business professionals. With a nearly perfect walk score and high bike score, it’s easy to get around sans car and easily commute downtown. A one-bedroom apartment remains relatively affordable at $1,295 per month on average.

Elder trees and historic red buildings line the streets of this neighborhood. Frank Fetch Park is an excellent weekday spot to enjoy your morning coffee and Schiller Park features trails, a playground and even an amphitheater.

Nearby, the Schmidt Sausage Haus & Restaurant has been a local treasure since 1886, one of many German-inspired restaurants. The Book Loft is a bookworm’s dream with 32 rooms filled with books.

  • Median 1-BR rent: $1,701
  • Median 2-BR rent: $1,988
  • Walk Score: 66/100

Harrison West has seen a slight increase in rents since Summer 2021, but you can currently get a one-bedroom for $1,701 per month on average. The Columbus neighborhood is only 2.5 miles from downtown and a hop and a skip from the beautiful Goodale Park.

The Arena District offers access to a movie theatre, several restaurants and bars and a skating rink only a mile away. Huntington Park is home to the Columbus Clippers baseball team.

  • Median 1-BR rent: $800
  • Median 2-BR rent: $1,100
  • Walk Score: 77/100

Indianola Terrace is a good option if you’re looking for an apartment convenient to Ohio State University and still walkable to everything. The neighborhood offers not only apartments but also multi-family units. You can find a one-bedroom in either option for $800 per month on average. Graduate students mainly reside in this neighborhood.

The Ohio History and Research Center are nearby, offering a detailed look into the state’s history along with seasonal exhibitions. Glen Echo Park is only a couple of miles away in Clintonville, offering a playground, dog park and easy hiking trails.

Source: Rent./Jeffrey Park Apartments
  • Median 1-BR rent: $1,38
  • Median 2-BR rent: $1,910
  • Walk Score: 87/100

Just north of downtown Columbus, every corner of the Italian Village has a restaurant filled with regulars. Not to worry, while parking is hard to come by, walking is the preferred way to see the neighborhood. You can quickly see why the neighborhood, filled with young families and millennials, remains tight-knit.

Try out two local breweries, Seventh Son Brewing and Hoof Hearted Brewery, or visit the local dive bar, St. James Tavern. Snag a one-bedroom apartment for $1,384 per month on average and grab your coffee at Fox in the Snow in the mornings.

  • Median 1-BR rent: $1,145
  • Median 2-BR rent: $1,995
  • Walk Score: 76/100

King-Lincoln Bronzeville has a rich history as a historically African-American neighborhood. The neighborhood is home to the Lincoln Theatre and the King Arts Complex. Recently, more Columbus residents have been discovering the charm of the neighborhood.

You can see beautiful murals throughout the King-Lincoln and visit the Bronzeville Bird and Butterfly Sanctuary. The Columbus Museum of Art is nearby, as well. You can find a one-bedroom apartment for $1,145 per month on average.

  • Median 1-BR rent: $1,087
  • Walk Score: 83/100

Olentangy Trail, a gem in the North Campus neighborhood, connects the Ohio State University with other city parks and Olentangy River. It’s the perfect escape, not too far from the city. You can rent a one-bedroom for $1,087 per month on average.

Nearby, you can find hot donuts at Buckeye Donuts, head to games at Ohio Stadium and stop by the Wexner Center for the Arts for the latest exhibitions.

  • Median 1-BR rent: $1,495
  • Median 2-BR rent: $2,325
  • Walk Score: 94/100

Right in the heart of Columbus, Short North attracts renters keen on art gallery openings, city festivals and easy biking, thanks to the neighborhood’s grid pattern. The Short North comes alive with art walks and outdoor concerts at Goodale Park every summer. The 33-acre park is the oldest city and provides ample greenspace to city dwellers for picnics and more.

The neighborhood’s arches on High Street light up the way for visitors to explore high fashion boutiques, a thriving dining scene and, of course, the many galleries. Stop by the North Market for an outdoor dining experience with various food hall vendors if you can’t choose where to eat.

You can enjoy that walkability and gallery hop on the weekends for $1,495 per month on average for a one-bedroom apartment.

  • Median 1-BR rent: $1,548
  • Median 2-BR rent: $2,215
  • Walk Score: 61/100

The best way to know if you’re in the Uptown District is by finding the Ohio Statehouse, a Greek Revival-style building in Colonial Square. The neighborhood has all the charm you want from a suburb while being near Columbus. Uptown District features many upscale restaurants like Veritas and Jeff Ruby’s Steakhouse. Breweries and cocktail bars also dot the area.

You can find a one-bedroom apartment in this neighborhood for $1,548 per month on average, with easy access to the Ohio Theatre for a night out.

  • Median 1-BR rent: $1,250
  • Median 2-BR rent: $2,425
  • Walk Score: 87/100

Can you picture going on an early morning walk surrounded by Victorian architecture? That’s what Victorian Village offers to its residents. Don’t miss the Gothic-style mansions and Queen Anne houses. Small shops and restaurants line the streets of this Columbus neighborhood. Goodale Park is within walkable distance to take your family for a picnic.

The neighborhood is on the more expensive side if you want to rent a two-bedroom, but still affordable for those in need of a one-bedroom, available for $1,250 per month on average. Stop by for a pint at Cavan Irish Pub to explore the neighborhood’s Irish-American roots.

Source: Rent./Grant Park Apartments
  • Median 1-BR rent: $1,481
  • Median 2-BR rent: $1,882
  • Walk Score: 87/100

If you’re looking for public transportation and walkability, Weinland Park is the neighborhood for you. The bus system services the area heavily thanks to its grid system and proximity to old streetcar rails.

Convenient to downtown, developers are revitalizing the industrial neighborhood with already slated multi-use developments. Weinland Park was home to several factories, many now converted into apartments and office space. The namesake park offers a picnic space and a playground. Grab a beer at Zaftig Brew Pub after.

Find the best Columbus neighborhood for you

Did you fall in love with this midwestern city? No surprise there! Columbus has historic neighborhoods, beautiful architecture, parks and walkable street grids. Whether you’re grabbing a beer in the Brewery District or strolling on your way to class at Ohio State, there’s a neighborhood for you. Ready to move on? Find apartments for rent in Columbus.

The rent information included in this article is based on a median calculation of multifamily rental property inventory on Apartment Guide and Rent. as of November 2021 and is for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Source: rent.com

Apache is functioning normally

Apache is functioning normally

U.S. home values fell a staggering 9.9 percent year-over-year in the second quarter, the largest drop in the past 12 years, according to Zillow.

The median home value is now at its lowest point since the fourth quarter of 2004, leaving nearly 30 percent of borrowers who purchased a home during the past five years underwater.

The highest rate of negative equity is among buyers who purchased a home in 2006, with nearly half (45 percent) upside down, largely because the median down payment was only 10 percent and prices were peaking.

Over the past year, roughly 25 percent of homes sold nationwide were at a loss and 15 percent of sales were foreclosures.

In some regions of hard-hit California, more than 60 percent of home sales were at a loss and foreclosures sales exceeded 50 percent.

The New York- Northern New Jersey-Long Island MSA had the lowest rate of foreclosure, with just 8.8 percent of home sold at a loss over the past year, and only three percent foreclosure sales.

“The second quarter is the sixth consecutive quarter of home value declines and we see little promise of turnaround in the short-term as the rates of decline have yet to slow and, in fact, actually accelerated in many markets,” said Dr. Stan Humphries, Zillow’s vice president of data and analytics.

“The high rates of negative equity are having a direct effect on home sales figures as we’ve seen considerable growth in foreclosure transactions and homes selling for a loss.”

While it may seem as if the sky is falling, 90 percent of markets covered by Zillow returned positive annualized appreciation over the past five years, and all markets improved over the past decade.

Source: thetruthaboutmortgage.com

Apache is functioning normally

Apache is functioning normally

Located in “The Volunteer State,” Memphis is a city in Tennessee with approximately 633,000 residents. It’s is on the Mississippi River and is the second-largest city in the state, next to the capital city of Nashville.

Memphis is full of musical history. Influential soul, blues and rock-n-roll legends like B.B. King, Elvis Presley and Johnny Cash recorded at the famous Sun Studio, commonly called the “birthplace of rock and roll.” You can stroll Beale Street and take in the rich history of Memphis.

In addition to its musical history, Memphis has world-renowned barbecue. In fact, the annual World Championship Barbecue Cooking Contest draws 100,000 visitors alone.

If you’re considering a move to Memphis and want to know a bit more about each of its neighborhoods, we’ve got you covered! We’ve done the research and highlighted the best neighborhoods in Memphis.

15 best neighborhoods in Memphis

Named after its Egyptian sister city on the Nile, Memphis means “established and beautiful” and it’s just that. Here are 15 of the best neighborhoods in Memphis. As you consider each one, keep in mind that all are within the city limits of Memphis, so you’ll get to experience all the culture that this great city has to offer.

  • Walk Score: 41/100

Looking for a slice of Hollywood but without the traffic? Welcome to Belle Meade, home to part of the set of the Hollywood hit “The Firm.” But don’t worry, the lawyers in this town will let you move if you want to. Only Tom Cruise was unlucky on that front.

This quiet suburban area is a great place for people looking to settle down near the downtown area. With many hiking trails and delicious restaurants, anyone would be happy living in Belle Meade. The neighborhood is very walkable and has an average commute time of 30 minutes to downtown Memphis.

  • Median 1-BR rent: $795
  • Median 2-BR rent: $950
  • Walk Score: 50/100

Founded in 1893 by an Irish immigrant named W.H. Bingham, the neighborhood of Binghampton has evolved immensely through the years. The city and residents of Binghamton have made a dedicated effort to grow the city, as it once was a more isolated part of Memphis.

Nowadays, the city has tree-lined streets, flower beds and art murals on prominent buildings and streets — like Broad Avenue —throughout to make it more appealing. The neighborhood has an annual art walk where street vendors and artists converge to play music, sell artisan crafts and food and mingle with the community. If you live in Binghampton, you definitely don’t want to miss this festive gathering. And if you’re a cyclist, the new two-way bike lane is underway! The neighborhood boasts of a walking score of 50 and an even better biking score of 63.

Source: Rent./Kimbrough Towers
  • Median 1-BR rent: $930
  • Median 2-BR rent: $1,210
  • Walk Score: 69/100

Another historic neighborhood in Memphis is Central Gardens, which was once home to upper-class families who moved during the cotton boom. Due to the historic nature and relevance of the homes in Central Gardens, the area is a historic conservation zone.

While Central Gardens is densely populated, it’s a great option for singles as most of the households in the neighborhood are without children. The commute is nothing to complain about either with commute times averaging about 25 minutes. This area is home to several dining options, too. Residents of this area look forward to the Garden and Home Show every September.

  • Median 1-BR rent: $695
  • Median 2-BR rent: $725
  • Walk Score: 33/100

Nestled on the north side of Memphis, Frayser is by the Wolf River, the Mississippi River and the Lossahatchie River. In the neighborhood alone, there are 10 parks you can frequent. Try Davy Crockett Park State Park, where you can camp, explore or visit a historic museum. This is a great neighborhood for those looking to bike, hike, dog walk and generally enjoy the outdoors.

Frayser gets its name from a prominent Memphis physician named Dr. J Frayser who summered at a home near the railroad, which is to the east of the neighborhood. While Dr. Frayser could afford a summer home here, don’t let that fool you on the cost of the rent.

  • Walk Score: 41/100

Harbor Town is known to its residents as a little oasis located just outside of downtown Memphis. This premiere neighborhood and urbanist town sits atop a large 132-acre sand bar known as Mud Island.

While Harbor Town is known as a more upscale area, it’s also very affordable for young professionals looking to settle down near the city center. The town itself is very walkable and easy to navigate as it feels more like a mini-city. Take a walk down the main strip and you’ll pass by everything you need from a quaint grocery store to unique boutiques.

Harbor Town is home to the iconic Paulette’s where you can stop in for a one-of-a-kind Sunday brunch.

  • Median 1-BR rent: $1,200
  • Walk Score: 48/100

The High Point Terrace neighborhood is in the eastern part of Memphis. It’s close to Downtown so residents can enjoy the perks of Memphis but it also has a suburban feel. High Point Terrace is on the federal government’s list — the National Register of Historic Places. The architecture, buildings and overall neighborhood were deemed important to preserve due to its history in greater Memphis. One memorable claim-to-fame is the famous playwright, Tennessee Williams, who wrote his infamous play-turned-movie “Period of Adjustment” in the neighborhood of High Point Terrace itself.

This neighborhood tends to have younger residents, with 40 percent of residents under the age of 45. If you’re looking to plant roots and start a family, this is a great neighborhood to consider. Full of shops, grocery stores, coffee shops and bars, High Point Terrace is a small community where you’ll be surrounded by kind, hard-working Tennesseeans.

Source: Rent./Love Tunica
  • Walk Score: 37/100

Another great area to live in on the north side of Memphis is Hyde Park. The main focal point of this neighborhood is Hollywood and Chelsea Streets. Here, you’ll find unique shops and yummy restaurants. Some of the top-rated restaurants are The Second Line and The Hollywood Fish Market. If you live in the south, you need to try their famous catfish and you can do just that at these two high-rated restaurants.

This community is highly engaged and you’ll find your neighbors strolling the local parks or meeting at the Shasta Central community center. If you’re looking for a neighborhood near Memphis itself but with a close-knit neighborhood feel, give Hyde Park a try.

  • Median 1-BR rent: $660
  • Median 2-BR rent: $795
  • Walk Score: 58/100

Known as a college neighborhood, Normal Station is home to part of the University of Memphis. Due to its close proximity to the university, this neighborhood is mainly composed of young college students. As you would find in any college town, Normal Station has several student rental homes, fraternities and small rental homes at affordable rates for students.

The neighborhood itself isn’t very walkable, so a lot of the residents bike or drive to get around. If you’re a student looking for a great place to live out your college years check out Normal Station as your next home.

  • Walk Score: 41/100

Pinch District is a historic area of Memphis located close to the Wolf River. Originally home to Irish, Russian and Jewish immigrants, Pinch District was the first commercial city in Memphis.

During the 1990s, the famous Pyramid Arena was built in hopes of bringing new life into the neighborhood. However, things took a turn when several of its large commercial sites moved locations. Pinch District is currently undergoing a billion-dollar expansion that will surely bring new, exciting business to the neighborhood.

While Pinch District is a quieter neighborhood in Memphis, it still has a lot of charm. There are some great coffee shops that recently opened such as Comeback Coffee or Alcenia’s. The commute from Pinch District to downtown Memphis is on average 15-30 minutes, so residents will likely need a car as the walk score is only 41.

Source: Rent./The Meadows
  • Median 1-BR rent: $731
  • Median 2-BR rent: $803
  • Walk Score: 26/100

Raleigh is a neighborhood in Memphis located on the northeast side of the city. It’s near the Wolf River and Frayser, another one of the best neighborhoods in Memphis.

Raleigh is a neighborhood full of hard-working, kind people. The main economy is retail, however, Nike has a distribution center in this area, too. Stage Road is a popular area in the neighborhood where you can go for a walk, window shop and grab a bite to eat. Locals enjoy good food and shops in this town and a crowd favorite is Moma’s Bar-B-Q or Dindie’s Soul Food.

  • Walk Score: 58/100

Steeped in folklore, Sherwood Forest is a neighborhood in east Memphis that has roots in the story of Robin Hood. While you probably won’t see Robin Hood’s merry men roaming around, you will see several streets named after the story like Robin Hood Lane, Maid Marion Lane and Little John Road.

Sherwood Forest neighborhood is known as a family-friendly suburb with good schools for children to attend. The neighborhood is about a mile away from the University of Memphis, so you’ll have a good blend of college-aged students and recent grads living here. The area has a nice blend of shops and bars plus a wonderful park to get in touch with nature. Sherwood Forest Park has trails, tennis courts, a golf course and even a botanical garden.

  • Median 1-BR rent: $1,579
  • Median 2-BR rent: $1,679
  • Walk Score: 19/100

Southwind is a neighborhood in Memphis on the southeast side of the city. This is an affluent neighborhood with several residents having bachelor’s degrees. The schools are highly recommended and it’s a good place for families.

If you like golf, this is a great neighborhood because the Southwind Golf Course is on the PGA tour and is a World Championship Golf Course. Other outdoor activities include walks, hikes and strolling around local parks.

Source: Rent./The Helix at the District
  • Median 1-BR rent: $880
  • Median 2-BR rent: $1,021
  • Walk Score: 72/100

Feel like stepping back in time? The Victorian Village neighborhood is the place for you. Once known as Millionaires Row, Victorian Village is a town rich with history due to its many homes built in the late 1800s. While the neighborhood is still home to these impressive homes, the suburban area is a great place for all types of people.

Victorian Village is home to many must-see museums such as the Woodruff-Fountaine House Museum. If you’re looking for a historic and walkable neighborhood in Memphis, then renting an apartment in Victorian Village is a great choice.

  • Median 1-BR rent: $904
  • Median 2-BR rent: $1,012
  • Walk Score: 41

Voillintine-Evergreen is close to downtown Memphis. One of the prominent features of this neighborhood is the layout of ranch-style 78 buildings surrounding the old synagogue. It’s part of the National Register of Historic Places, in fact.

People living in Voillintine-Evergreen like their history and fight to preserve it and its aesthetic. The residents are usually retired or empty-nesters, so it’s a great place for people looking for a more quiet lifestyle. That being said, you’ll still find plenty to do whether that’s eating at local eateries, sipping freshly brewed coffee or walking throughout one of the neighborhood parks.

  • Median 1-BR rent: $599
  • Median 2-BR rent: $835
  • Walk Score: 30/100

You can’t help falling in love with this neighborhood. Whitehaven is most famous for “Graceland.” More than a half-million people come to visit Elvis Presley’s home-turned-museum each year and pay their respects to the rock-n-roll legend.

While this landmark is cool for music lovers, residents of Whitehaven enjoy the suburban feel and parks like T.O. Suburban State Park. This neighborhood tends to attract empty-nesters, so it’s quieter compared to neighborhoods full of families.

Find the best Memphis neighborhood for you

Whether you choose a neighborhood in the heart of Memphis or elsewhere you can rest assured that you’ll find great people and apartments in any of the best neighborhoods in Memphis. Memphis is a city full of apartments for pet lovers, park lovers, nightlife lovers or even coffee lovers.

The rent information included in this article is based on a median calculation of multifamily rental property inventory on Apartment Guide and Rent. as of November 2021 and is for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Source: rent.com

Apache is functioning normally

Apache is functioning normally

If you decide to file for bankruptcy, you must next decide which type of bankruptcy is right for you. Most individuals have three options, and understanding Chapter 11 vs. Chapter 13 vs. Chapter 7 is important in making the right decision. 

Bankruptcy can be complex, and even a small mistake in how you file can substantially change the outcome of your case. It’s typically a good idea to consult an experienced bankruptcy lawyer before you file a bankruptcy petition. However, we’ve provided some basic answers below to the question, “What is the difference between Chapter 7, 11, and 13 when it comes to bankruptcy?”

In This Piece

Understand the Types of Bankruptcy

Bankruptcy is a way to reorganize your debts or get your debts dismissed because you’re insolvent. “Insolvent” is simply a financial state where you can’t pay your bills—usually because your debts outpace your income. 

People can end up in this situation for a number of reasons. It may be that you lost your job or had reduced income—job losses due to the COVID-19 pandemic are just one example of when this can happen. In other cases, people have unplanned expenses such as medical bills that can put them over the edge financially. Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures. 

Regardless of how you ended up in this position, it’s important not to jump immediately to bankruptcy. Consider all of your options and speak with an experienced bankruptcy attorney to understand whether bankruptcy will help you.

How Do You Know Which Bankruptcy Type is Right for You?

This is a complex personal or business finance question. Consider talking to an attorney to understand your financial and legal situation. An experienced attorney can quickly apply means tests and other information to your case to help you understand what your options are.

What Is Chapter 11 Bankruptcy?

According to the United States Courts, individuals and business entities can enter into Chapter 11 bankruptcy. Typically, this type of bankruptcy is a reorganization of a business. Through the bankruptcy, the debtor restructures and then creates and implements a plan to pay back creditors.

The plan must be approved by a Trustee appointed by the court. The Trustee is typically in charge of implementing and overseeing the plan, ensuring that the business has the income and resources to follow through with it. Once the plan is completed and confirmed, any remaining debts under the bankruptcy are discharged.

This is an extremely simple summary of how a Chapter 11 bankruptcy works. In reality, they can take years and involve numerous legal proceedings on behalf of the person or business filing as well as the Trustee and creditors. 

What Is Chapter 7 Bankruptcy?

The main difference when it comes to Chapter 7 vs. Chapter 11 bankruptcy is that Chapter 7 is a liquidation plan. That means there’s no repayment plan associated with a Chapter 7 bankruptcy.

When you file Chapter 7, you typically agree to liquidate your assets to pay off as much of your debt as you can. The remaining debts that are part of your bankruptcy are dismissed. 

Whether or not you can file for this type of bankruptcy is determined by income. If your income is below the median for the state you’re filing in, you can probably choose Chapter 7 bankruptcy. If your income is above the state minimum, you must pass a “means test.” A bankruptcy attorney can quickly apply these tests to help you understand whether you meet eligibility for Chapter 7. 

You don’t have to give up everything you own in a Chapter 7 bankruptcy, though. You may be able to keep exempt assets, which can include certain personal belongings. You may also be able to keep your home, a car, and other items, even if you owe money on them, if you can continue to make timely payments on those debts. 

Again, bankruptcy is a complex process and what you can keep and how your proceeding goes is based on a variety of factors. Consult an experienced bankruptcy attorney to find out more about your individual situation.

What Is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy may sound similar to Chapter 11 because these both involve repayment plans. But when it comes to Chapter 11 vs. Chapter 13, the biggest difference is that Chapter 13 allows someone with regular income to make an adjustment to how they pay back some debts.

Chapter 13 may be an option for individuals who fail the means test for Chapter 7. Typically, Chapter 13 bankruptcy works for people who have stable income to make some payments on debts but they don’t have enough income to pay all the debts as currently structured.

The individual submits a repayment plan to the court. This plan must be approved by a bankruptcy court Trustee. The Trustee is also typically tasked with making payments under the plan, so the individual pays the Trustee. The Trustee’s office then pays various creditors.

Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. But unsecured, nonpriority debts, such as medical bills and credit card debt, are only partially paid. If you work through your Chapter 13 repayment plan successfully, the remaining debts are dismissed at the end of the repayment plan. That can take three to five years. 

Should You File for Bankruptcy?

Only you can decide if bankruptcy is the right choice for you. In most cases, you should consider all your other options and ensure there really is no way to feasibly pay your debts as you agreed. Consider the factors below to determine which type of bankruptcy might be right for you. Then, talk to an attorney to find out more about each option.

Should You File for Chapter 7 Bankruptcy?

  • What is your income? Not everyone qualifies for Chapter 7 bankruptcy. You have to pass what’s called a “means” test, and you usually don’t pass it if you make more than the median income of same-size households in your state. 
  • Have you filed for bankruptcy before? If it hasn’t been long enough since the last time, you may not be able to file.
  • What type of debt are you dealing with? Most, but not all, debt can be discharged in a Chapter 7 bankruptcy. If you’re trying to deal with debt that isn’t dischargeable, it may not be worth filing Chapter 7.
  • Do you want to keep your property? Some property may be exempt, such as your home or a car you need, but you may not be able to keep the same property in a Chapter 7 that you could keep in a Chapter 13, for example. Definitely talk to your bankruptcy lawyer about which property you want to keep and whether it’s possible.

Should You File for Chapter 13 Bankruptcy?

You’ll need to ask all the same questions you’d ask when considering Chapter 7 bankruptcy to find out if Chapter 13 is right for you. You also need to consider whether you have enough income to make some repayment toward your debt. In a Chapter 13 bankruptcy, you restructure your debts and pay some of them over 3 to 5 years before the rest are discharged.

You should also ask yourself if you have the discipline to make the monthly payments to the trustee and follow other rules set by the court. You typically can’t apply for most types of credit, including a mortgage, auto loan or significant personal loan, without getting the court’s approval if you’re in the middle of a Chapter 13 bankruptcy, for example.

Should You File for Chapter 11 Bankruptcy?

Do you have your own business and need to include business debts in your bankruptcy? You might want to consider a Chapter 11 over a Chapter 13. Chapter 11 may also be an option for individuals or couples who have too much debt to qualify for a Chapter 13. Otherwise, all the other questions above apply here, too.

The Main Differences Between the Types of Bankruptcy

To better understand the main differences between Chapter 7, 11, and 13 bankruptcy, consider the table below.

Chapter 7 Chapter 13 Chapter 11
Type of bankruptcy Liquidation Reorganization Reorganization
Income requirements Yes — can’t make above the median for same-size households within the state Yes — must have enough income to make the repayment plan viable Yes — must have enough income to make the repayment plan viable
Can individuals file? Yes Yes Yes
Can businesses file? No Only sole proprietors Yes
How long does it take? A few months 3 to 5 years 1.5 to 5 years
Debt limitations n/a Combined secured and unsecured debts must be less than $2,750,000 n/a

Who Can File for Each Type of Bankruptcy?

In addition to income and debt requirements, each type of bankruptcy has limitations on which individuals or entities can file. 

Chapter 7 Chapter 13 Chapter 11
– Individuals
– Married couples		 – Individuals
– Married couples
– Sole proprietors		 – Individuals
– Married couples
– Sole proprietors
– LLCs
– Partnerships
– Corporations

What Happens After You File for Bankruptcy

The first thing that happens when you file for bankruptcy is that the automatic stay goes into place. This is a protection that requires creditors to cease all collection efforts until the bankruptcy process can be completed. It’s a powerful protection. For example, even if you’re in the middle of a home foreclosure, the automatic stay can stop that process so you can work through bankruptcy to keep your home.

Once the petition is filed with the court, hearings are set and all creditors included in the bankruptcy are notified. They do have the option of responding to the bankruptcy if desired. You’ll also need to attend the first hearing in your case to testify, under oath, to the truth of everything documented in your petition.

If you’re filing a Chapter 11 or Chapter 13 bankruptcy, you’ll need to file a repayment plan, get approval for it and follow through on it. Once the bankruptcy process is completed successfully, your remaining debts can be discharged. 

How Does Bankruptcy Impact Your Credit?

Any type of bankruptcy can impact your credit. It’s a negative item that stays on your credit report and drop your credit score for up to 10 years, depending on which type of bankruptcy you file.

But the truth is that by the time most people get to bankruptcy, they’ve already missed numerous payments and may be in collections with one or more accounts. If this is the case, bankruptcy doesn’t usually drive your credit score much lower than it already is. And there’s a chance that you may see your credit score begin to climb again after bankruptcy as you make timely payments on debts and are better able to manage your finances.

Chapter 11, Chapter 7, or Chapter 13—these are all huge financial and legal decisions. Each comes with its own pros and cons, and it’s important to handle a bankruptcy correctly if you do decide this is the way you want to go. So, talk to a lawyer and get the information you need to make the best decision in your case.

  • Chapter 7 is removed 10 years after the date the petition was filed.
  • Chapter 13 is removed 7 years after the date the petition was filed.
  • Chapter 11 is removed 10 years after the date the petition was filed.

Want to keep an eye on your credit report to understand when negative items fall off it as you’re working to rebuild? Consider signing up for ExtraCredit.

Options Other Than Bankruptcy

Before considering bankruptcy, research other options to help manage your debt. You might find other avenues that are less complex and not as impactful to your credit reports. They can include:

  • Debt consolidation that reduces how many bills you deal with each month and may create a monthly payment situation that works better for your budget
  • Debt counseling that brings in professionals who can help you negotiate with your creditors for better terms and manage your money better to make ends meet
  • Selling property so you can pay off debts that are beyond your current budget
  • Increasing your income with a second job or side hustles so you have more money to pay your debts

Ultimately, whether bankruptcy is right for you is a decision you must make yourself. Start with the information above to gain a brief understanding of your options, and reach out to an attorney to help you understand how these details might apply to your case.

The Impact of COVID-19 on Bankruptcies

Bankruptcies are still proceeding in the wake of the coronavirus pandemic. You may find that hearings related to cases are being handled via phone or web conferencing and not in person.

If you’re making payments on a Chapter 11 or Chapter 13 case and have been impacted financially by the pandemic, you should contact your attorney as soon as possible. They can help you understand the best next steps, which might include filing motions in your case to alter your payments temporarily.

The CARES Act also provides some modifications to how certain elements of bankruptcies are handled. It ensures federal stimulus payments aren’t considered disposable income, for example, and provides Chapter 13 debtors a path to seek modified payment plans if their income is impacted. 

Source: credit.com

Apache is functioning normally

Apache is functioning normally

The housing market will remain subdued until the Federal Reserve starts cutting rates next year, according to economists and housing pros following the central bank’s Wednesday announcement to leave the benchmark rate unchanged in the target range of 5.25%-5.5%.

Until interest rates come down, affordability challenges will continue to put first-time buyers on the sidelines, housing industry observers said. Real estate experts reiterated caution against further rate increases. 

While Fed Chair Jerome Powell emphasized incoming data will determine whether the central bank will raise its federal funds rate at its next FOMC meeting in November, the “dot-plot” of rate projections showed policymakers foresee one more hike by the year-end. The bulk of central bank officials expect to have interest rates finishing the year at around 5.6%.

In an elevated rate environment, the lack of inventory continues to be the biggest challenge for many potential buyers, the Mortgage Bankers Association said. 

“While homebuilder sentiment is clearly impacted by the recent surge in mortgage rates, permits for single-family homes provide a positive outlook for the pace of construction in the year ahead. If mortgage rates trend down in 2024 as we anticipate, the combination of more homes for sale and somewhat lower rates should support stronger purchase volume,” Mike Fratantoni, SVP and chief economist at the MBA.

The MBA expects mortgage rates should begin to reflect that the Fed’s moves in 2024 will be cuts – not further increases. MBA’s mortgage finance forecast projected the 30-year fixed mortgage rate to decline to 5.4% in 2024 and 5.1% in 2025.

Powell also noted in a press conference that because people locked in “very low rate mortgages, even if they want to move now, that would be hard because the new mortgage would be so expensive.”

Rates are most likely to stay elevated until 2024, said Danielle Hale, chief economist at Realtor.com, thus putting a damper on the number of home sales transactions.

“Higher mortgage rates have radically altered homebuyer purchasing power and have been a key factor in existing home sales dropping from a more than 6.5 million unit pace in early 2022  to the roughly 4 million unit pace in recent months,” Hale said. 

More importantly, higher mortgage rates continue to keep existing homeowners sidelined, with as many as one in seven buyers out of the market because they don’t want to borrow at today’s much higher rates, Hale noted. 

Short-term mortgage rate movement

In the short-term, mortgage rates are likely to bounce around a bit as the markets digest upcoming economic data, Melissa Cohn, regional vice president of William Raveis Mortgage, said. 

Incoming data of job and CPI reports next month will provide more clarity on how strong the economy is. Reports on jobs and inflation will be released on October 6 and October 12, respectively. 

“If the data reveals that inflation remains elevated and employment is still growing, then mortgage rates are likely to move up and we can look for what we hope to be the last rate hike of this cycle,” Cohn said.

The rapid ascent is mostly behind us but it will be a while before the economy sees any sign of a gradual descent, Marty Green, principal at mortgage law firm Polunsky Beitel Green, added.

“In my view, this means the mortgage interest rate environment will continue to bounce sideways through the next several months,” Green said.

Mortgage rates have been on an upward trend this year with rates in August surging to 7.23%—the highest since 2001.

Fed officials expect interest rates to be at 5.1% in 2024, up from the 4.6% projected in June. Officials expect fewer cuts in 2025 with the median estimate for the benchmark rate to be at 3.9%, up from 3.4%. 

The committee raised its projections for growth, and is looking for a better-than-expected labor market as well, with the jobless rate peaking at 4.1%, rather than 4.5%.

Pushback against further rate increases

With two more scheduled FOMC meetings in November and December, housing experts cautioned against further rate increases.

The Fed must consider the potential economic damage arising from any future rate hikes, Lawrence Yun, chief economist at National Association of Realtors, reiterated his position. 

“Commercial real estate has come under stress from higher interest rates, which will further negatively impact community banks due to their large exposure to the sector. Therefore, the Fed needs to wait and not raise rates. Possible interest rate cuts then need to be considered once inflation is fully under control,” Yun said.

Overall data point to an accelerating slowdown but continues to be mixed because of some lagging indicators, Green noted.

Unemployment rates and the CPI component lags measures of market rents by around a year.

“With rates elevated into restrictive territory, I expect the Fed to be patient and hold off on any additional increases until it becomes clearer that an additional rate hike is warranted,” Green said. 

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

Higher For Longer

By:
Matthew Graham

Wed, Sep 20 2023, 4:43 PM

Higher For Longer

Today’s Fed announcement was largely as expected: no rate hike, “data dependent,” and “higher for longer” communicated via the dots.  The direction of the change in the dot plot is no surprise, but the magnitude was.  The median Fed member moved their forecast up by 0.50% through both 2024 and 2025.  Granted, those forecasts have a poor track record of predicting the future, but they speak to the Fed’s will to continue hiking if the data remains resilient. Bonds held their ground reasonably well at first, but late day position squaring resulted in a break to new long term yield highs. 

  • Fed Dot Plot Changes

    •  2023
      • 5.625% (range 5.375% to 5.625%); prior 5.625%
    • 2024 
      • 5.125% (range 4.375% to 6.125%); prior 4.625
    • 2025 
      • 3.875% (range 2.625% to 5.625%); prior 3.375%
    • 2026 
      • 2.875% (range 2.375% to 4.875%)

09:24 AM

gradually but modestly stronger throughout the overnight session.  MBS up 6 ticks (.19). 10yr down 3.4bps at 4.329.

01:24 PM

10yr down 4.6bps, near best levels at 4.317.  MBS up 6 ticks (.19) again after some AM volatility.

02:05 PM

Sharply weaker after Fed announcement.  MBS down 3 ticks (.09) and 10yr up to 4.359

03:22 PM

Volatile 2-way trading since Fed.  Powell press conference is over.  MBS down 7 ticks during moments of illiquidity (-0.22) but only 1-2 ticks otherwise (0.03-0.06).  10yr down 1bp on the day at 4.353.

04:41 PM

Weakest levels of the day.  MBS down 9 ticks (.28) and 10yr up 3.4bps at 4.397.

 Download our mobile app to get alerts for MBS Commentary and streaming MBS and Treasury prices.

Source: mortgagenewsdaily.com

Apache is functioning normally

Apache is functioning normally

Once you decide where you want to go to college and what you want to major in, you may still have another decision to make — whether to pursue a Bachelor or Arts (B.A.) or a Bachelor of Science (B.S.) degree. Depending on the school and program, you may be limited to getting either a B.S. or a B.A. With some majors, however, you may have a choice. Whether you should go with a B.A. or B.S. will depend on both your educational and career goals.

Generally, a B.A. is more focused on the arts and humanities, while a B.S. is more centered around science and math. Read on for a closer look at a B.A. vs. a B.S., including how it can affect your coursework and future job options.

What’s the Difference Between a B.A. and a B.S.?

A Bachelor of Arts and a Bachelor of Science are both four-year undergraduate degree programs. Students completing either of these degrees will typically need to take similar general education requirements, such as courses in English, mathematics, natural science, writing, history, and social science.

A B.A. focuses on traditional liberal arts subjects like history, literature, art, philosophy, the social sciences, and other topics in humanities. It will provide a student with a more diverse course of study and may require fewer credits than a B.S. degree.

On the other hand, a B.S. program emphasizes science, engineering, technology, and math, and is more focused on one subject. When looking into a B.A. vs. B.S., you’ll want to decide what kind of job or graduate school program you want to pursue after graduation.

For instance, if you have a choice of earning either a B.A. or a B.S. in psychology and know you eventually want to go into one-on-one counseling with patients, you may want to choose a B.A. degree.

If, on the other hand, your plan is to earn a Ph.D. and pursue a career in research, then a B.S. may be a better choice. Keep in mind that some colleges offer students the opportunity to earn a B.A. or a B.S. in the same major, while other colleges don’t offer that choice.
💡 Quick Tip: SoFi offers low fixed- or variable-interest rates. So you can get a private student loan that fits your budget.

Which Degree Is Better?

When looking at a B.A. vs. a B.S., you may be wondering which one is better and more attractive to employers. In reality, it may not make much of a difference which one a student earns, as long as they have a bachelor’s degree in general.

Some employers may want graduates with a broader view of liberal arts topics, while others might prefer candidates who honed in on a particular subject. However, a candidate would probably not lose a job opportunity just because they had the “wrong” type of bachelor’s degree.

When prospective employers and graduate school admissions officers are looking at candidates, they generally care much more about factors like a student’s grades, the courses they took, the major they enrolled in, and which school they went to.

They may also care about whether or not a student completed internships and work-study programs related to their major.

Recommended: Return on Education for Bachelor’s Degrees

Finding a Good B.A. or B.S. Program

Instead of getting hung up on the difference between a Bachelor of Arts and a Bachelor of Science, you may want to instead dive into the content and quality of the curriculum you could be studying for the next four years. You can see if the curriculum sounds interesting to you and if it would be applicable to your future career.

You may also want to evaluate all the schools you want to apply to or have gotten into before making a decision.

It’s a good idea to research a school’s reputation through a site like College Board® or Niche to determine how hard it is to get into, who the alumni are, what kinds of opportunities their graduates have pursued, and the strength of their programs.

Of course, it’s critical to investigate the location, enrollment size, and cost of attendance as well. You may find it helpful to create a shortlist of potential colleges/bachelor’s programs and then rank what’s most important to you.

For example, if you want to go to a competitive grad school, you may want to emphasize selectivity for your undergraduate program.

If you’re concerned about how you’re going to pay for college, you may also want to look into programs that are less expensive or that tend to offer scholarships to students. You can also research your options for private and federal student loans to pay for school.

If it’s feasible, it can also be helpful to visit and tour potential schools. This gives you a chance to get a feel for the school and student body, and get all your questions answered. For example, you may want to ask about job and career support, including job fairs and on-campus interview opportunities, so you know you will have support and be set up for success after you graduate.

Recommended: How to Pay for College

Why Get a Bachelor’s Degree?

B.A. and B.S. degrees can be very similar. What matters in most cases is simply getting a bachelor’s degree. This can open you up to a broader range of professional opportunities, allowing you to fulfill your career goals as well as earn more money.

You can choose to go directly into the workforce following graduation and have an advantage over candidates who only have a high school diploma (or less), or you could choose to go to graduate school to earn an advanced degree.

According to the National Center for Education Statistics, the employment rate for 25- to 34-year-olds with a bachelor’s or higher degree was 87% in 2022, compared to 61% for those who had not completed high school.

Those with bachelor’s degrees also tend to earn more. In 2021, the median earnings of those with a bachelor’s degree were 55% higher than the earnings of those who only completed high school.

There are a number of personal benefits as well. Many students find college to be very fulfilling because they gain valuable skills like teamwork and time management.

They also learn how to take on challenges, which can improve their self-esteem. Research suggests that people with college degrees are more likely to volunteer, donate to charitable organizations, vote, and contribute to their communities than those without college degrees. They also tend to report higher levels of happiness.
💡 Quick Tip: Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too. You can submit it as early as Oct. 1.

The Takeaway

A B.A. and a B.S. are both four-year undergraduate degrees that often require similar general education requirements, like math, English, and history. Broadly, B.A. degrees are more focused on liberal arts subjects, while B.S. degrees usually emphasize subjects like math and science.

Some schools may offer a B.A. and B.S. in the same subject, but with slightly different degree requirements, such as a B.A. or a B.S. in chemistry or computer science. The B.S. program typically has more required courses than the B.A. program.

Once you determine what degree you want to get and where you want to get it, you’ll likely also need to figure out how you’re going to pay for it. Fortunately, you have options, including financial aid (which may include grants, scholarships, work-study, and subsidized federal loans), as well as unsubsidized federal loans and private student loans.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

Photo credit: iStock/mangpor_2004

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Source: sofi.com