From its historic neighborhoods to its parks and rivers, Fort Wayne is full of surprises. This Indiana town has one of the country’s best zoos and a number of popular museums. Considered one of the most affordable cities in Indiana, paying less for rent could mean you’ll have a slightly bigger budget to explore the city and find your favorite spots.
Here’s what some Fort Wayne locals are saying about the best places to check out in Summit City.
1. Five Lakes Coffee, The Perk and Mocha Lounge
Source: facebook.com/Five-Lakes-Coffee
Ask locals about their favorite hidden gem and many are quick to point to a coffee shop. In the Northwest area of town, you can stop in at Five Lakes Coffee for a cup of Joe as one option.
Christine Miller of Christine Danae Photography has trouble narrowing down her favorite coffee spots. Though, two notable frontrunners are The Perk Coffee House and Mocha Lounge. The Perk provides, “fantastic coffee and a fabulous environment to meet up with people and get work done,” says Miller. Mocha Lounge also has fantastic coffee and a “great atmosphere.”
2. Sassie Cakes
Source: facebook.com/SassieCakesFW
There’s nothing like a solid dessert place, and Hope Denton of Hope Denton Photography LLC recommends Sassie Cakes. Located right in Downtown Fort Wayne, this custom cake shop also features regular in-store treats like sandwich cookies, macarons and cookie dough shots.
“Sassie’s has the best cakes I have ever tasted, and is sure to wow you!” says Denton. Her favorite is red velvet.
3. Sweetwater
Source: facebook.com/sweetwater
For Paul Smith of Five Lakes Coffee, a favorite stop in the city is Sweetwater. This music megastore has its own hidden gem inside. It’s the acoustic guitar room, where Smith loves the sounds.
4. The Fort Wayne Children’s Zoo
Source: facebook.com/fwkidszoo
To make your exploration of Fort Wayne family-friendly, Amy DeLap of Kiss My Grass Soapery is quick to pick a trip to the Fort Wayne Children’s Zoo as a fun way to spend the day.
Also located in the northwest section of Fort Wayne, the Zoo features African, Australian and Indonesian sections in addition to the central zoo. There are also a few rides, animal keeper chats and special animal experiences, including the opportunity to feed a stingray.
5. Watch the Tin Caps
Source: facebook.com/tincaps
Mark Smith of The Light House Coffee Bar recommends catching a Tin Caps game to really experience the true heart of this city. This minor league baseball team plays in Parkview Field downtown.
6. Fort Wayne’s Famous Coney Island
Source: facebook.com/FortWayneConeyIsland
While Coney Island is known as a New York City amusement park, in Fort Wayne, it’s a locally -loved restaurant. More than that, Fort Wayne’s Famous Coney Island is the oldest coney stand in the country, opening its doors in 1914.
The menu hasn’t changed much in the last 100+ years either, and the restaurant sells hundreds of hot dogs each day along with burgers, chili and pie.
7. The Parks
Within the city limits, you’ll find the convergence of the St. Marys River, the St. Joseph River and the Maumee. Fort Wayne naturally lends itself to outdoor activity. Along the riverfront, you have access to boat tours and river excursions along with self-guided kayaking, canoeing and paddle boarding. There are also plenty of river-side hiking and bike trails.
Fort Wayne has no shortage of parks to enjoy as well. Some local favorites include:
The Foellinger-Freimann Botanical Conservatory is yet another spot in Fort Wayne to connect with nature. Located in the city’s Southwest area, the Conservatory features seasonal flowers and plants beside a tropical garden, desert garden and more.
Other hidden gems across Fort Wayne
Source: facebook.com/brassrailfw
Suggestions for other hidden gems in Fort Wayne can really help you find places that cater to your interests. The city’s diverse assortment of restaurants, music venues, bars and more allow anyone to enjoy their favorite pastime. Our local experts had a diverse assortment of recommendations to share.
For foodies:
Cebolla’s Mexican Grill — a recommendation from Lori Eddy of Coutour Cottage, has multiple locations around town. That gives you options when you’re craving burritos, enchiladas, quesadillas or any of the restaurant’s specialties.
Paula’s on Main — a casual restaurant and seafood market in the Nebraska neighborhood.
Nawa — a locally-owned Thai restaurant with signature dishes and drinks to excite the palate.
Asakusa — the first sushi bar in Fort Wayne, with sushi, teriyaki, tempura, katsu and many other Japanese specialties.
For entertainment seekers:
The Clyde — live music, comedy and performance venue
Brass Rail — a live music venue specializing in rock music
For beer drinkers
Henry’s – wood-adorned pub-style tavern that serves American food
Deer Park Pub — an Irish pub with a unique character entirely its own
Hop River Brewing Company — a brewery beside Lawton Park specializing in true-to-style beers
Where to next?
Find the Fort Wayne hidden gem for you
Not entirely convinced that a mid-size Midwestern city has enough to offer? Get out there and check it out yourself. The variety of activities and emerging small business scene make Fort Wayne a city that you need to experience for yourself. If you stop by one of the hidden gems on this list, tell them we sent you!
Lesly Gregory has over 15 years of marketing experience, ranging from community management to blogging to creating marketing collateral for a variety of industries. A graduate of Boston University, Lesly holds a B.S. in Journalism. She currently lives in Atlanta with her husband, two young children, three cats and assorted fish.
Some TV shows in the 90’s were so iconic, they’ve remained popular throughout the decades. These TV shows are all-time favorites. Some of us like them even better than modern shows. Do you have a favorite show from the 90’s that you just can’t let go of? See if it’s on our list!
1. The X-Files
The X-Files is a science fiction television series that originally aired from 1993 to 2002. The show revolves around two FBI agents, Fox Mulder and Dana Scully, who investigate cases involving paranormal phenomena, extraterrestrial life, and government conspiracies.
One person said, “First 3 seasons were godly.”
Another Redditor replied, “Changed TV forever.”
Another commented, “Came here to post this. Learned how to program my VCR just for this show. I’m only really familiar with the first 4 seasons. I’ve done a few ‘Best of’ watches on streaming, but I haven’t seen the later seasons in their entirety.”
2. Sabrina The Teenage Witch
Sabrina The Teenage Witch is a 1996 TV series that tells the story of, Sabrina, who comes from a long-line family of witches. The series has seven seasons and 163 episodes.
“I went absolutely crazy for the crossovers with the other TGIF shows and when popstars (Backstreet Boys, Britney Spears, Nsync, etc) did a guest shoot,” one person stated.
“Yeah those were fun to watch,” another commenter added.
One user replied, “My favorite episode was the one they revealed how they paid for everything. Since they were witches and immortal her aunts would just buy things and hold on to them until they were very old then sell them to collectors when they needed money.”
3. Freaks and Geeks
Freaks and Geeks is a television show that originally aired for one season in 1999-2000. The show is a coming-of-age comedy-drama that follows a group of high school students in the early 1980s.
“So good. Too bad it only lasted one season,” one person stated.
“Cult classic,” another added.
4. Beavis and Butt-Head
Beavis and Butt-Head is an animated television series that aired from 1993 to 1997 and was later revived briefly in 2011. The show follows the misadventures of two teenage boys, Beavis and Butt-Head, who are delinquents with a penchant for crude humor, heavy metal music, and mischief-making.
“Cornholio,” one person said esoterically.
“Agreed. The absurdity was hilarious and I found quite a few new bands that I ended up loving from the video segments,” another commenter replied.
5. Seinfeld
Seinfeld was dubbed “one of the best comedies in the history of television.” The show first premiered in 1989, aired for nine seasons, and ended in 1998. It is a sitcom that follows the life and misadventures of a fictionalized version of comedian Jerry Seinfeld and his friends and acquaintances in New York City.
One person stated, “Best sitcom ever produced.”
6. Boy Meets World
Boy Meets World is a famous American sitcom that aired in 1993 and ended in 2000. The show follows the life of Cory Matthews, played by Ben Savage, as he grows up from middle school to college. The popular sitcom was light, fun, and true-to-life challenges that many teenagers find relatable. Above all, it’s about navigating romance and the importance of family and friendship.
7. The Simpsons
The Simpsons is an American animated sitcom created by Matt Groening that first aired in 1989. The show follows the lives of the Simpson family, who live in the fictional town of Springfield. Homer and Marge are the parents, and their children are Bart, Lisa, and Maggie. The show has been renewed for many seasons because of its popularity with kids and adults. The Simpsons is one of the best-animated shows that can teach many lessons, such as family values, how to use humor to address serious issues, and many others. It’s fun to watch and keeps its audience entertained for hours.
8. The Fresh Prince of Bel-Air
Starring Will Smith, the American NBC sitcom is one of those 90s shows that people couldn’t get enough of. The show aired from 1990 until 1996, with six seasons and 148 episodes. It follows the misadventures of Will as he adjusts to his new life and clashes with his prim and proper relatives, including his Uncle Phil (James Avery) and Aunt Vivian (Janet Hubert/Daphne Maxwell Reid). Will’s cousins, Carlton (Alfonso Ribeiro), Hilary (Karyn Parsons), and Ashley (Tatyana M. Ali), also feature prominently in the series.
One person said, “Fresh prince was great.”
The second person replied, “Yes, instantly thought of Fresh Prince too.”
9. Married… With Children
Married with Children is an American television sitcom that aired from 1987 to 1997. The show was created by Michael G. Moye and Ron Leavitt and starred Ed O’Neill as Al Bundy, a disgruntled shoe salesman, and Katey Sagal as Peggy Bundy, a lazy housewife.
One Redditor said, “Up there with the all-time greats. Bundy was the best insult comic.”
Another commenter replied, “I watched all the episodes.”
10. Frasier
Frasier is an American television sitcom that aired from 1993 to 2004. It was a spin-off of the popular 1980s sitcom “Cheers,” and it starred Kelsey Grammer as the titular character, Dr. Frasier Crane, a psychiatrist and radio show host. The show has a total of 11 seasons and 264 episodes.
One person shared, “I just finished re-watching the entire series and noticed 2 remarkable things: First, there was not one single episode that I didn’t remember from watching it in the 90’s. Second, it was a lot more risque than I remembered! Some of those jokes, man, wow! It had me in stitches all over again!”
11. The Red Green Show
The show was known for its offbeat humor, low-budget production values, and the character’s signature use of duct tape for all his DIY projects. Red Green was often joined by his nephew Harold (Patrick McKenna), and the two would engage in comedic banter and skits that parodied the worlds of home repair and the outdoors.
One person quoted, “‘If women can’t find you handsome, they should at least find you handy!’”
Another person replied, “I can hear this comment. XD.”
One commenter added, “Man—core memory unlocked. Watched this every week with my dad. Good memories. Thanks for that.”
View the original Reddit thread here.
Who is one actress you can never stand watching, no matter their role? After polling the internet, these were the top-voted actresses that people couldn’t stand watching.
10 Actresses People Despise Watching Regardless of Their Role
These 7 Celebrities are Genuinely Good People
We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble?
These 7 Celebrities are Genuinely Good People
Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.
These 10 Activities Are an Immediate Red Flag
Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.
10 Celebrities That Made the Big Times Then Disappeared Off The Face of the Earth
We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.
These 10 Terrible Movies Are Still People’s Favorites
A bill was passed in the state of New York yesterday requiring that a 90-day pre-foreclosure notice currently sent out to homeowners holding subprime loans be expanded to all types of home loans.
The measure, Bill No. 46, introduced by Governor David A. Patterson, seeks to provide additional time for struggling homeowners facing foreclosure to find viable alternatives.
Lenders that serve a 90-day notice on a homeowner will also need to make a regulatory filing with the Banking Department within three days so that agency and the Division of Housing and Community Renewal can provide targeted assistance to those in need.
The bill also expands the scope of the early mandatory settlement conference to include borrowers with all types of home loans, not just subprime.
And establishes protections for tenants in foreclosed properties, by requiring that they receive written notification of change in ownership and be permitted to remain in the home for the remainder of the lease term or 90 days, whichever is longer.
Plaintiffs in foreclosure actions who obtain a judgment of foreclosure and sale will also need to maintain the properties, and brokers who perform distressed property consulting services will no longer be able to accept upfront fees.
“While the foreclosure crisis began with borrowers in inappropriate subprime or exotic mortgages, the recession has expanded the impact of this crisis to homeowners with loans that were originally affordable,” said Superintendent of Banks Richard H. Neiman, in a statement.
“This makes the expanded scope of this legislation so timely. In addition, with commercial and multifamily mortgages potentially at risk, the added protections for renters are critical to assist displaced families and to stabilize New York neighborhoods.”
There were 39,923 foreclosure filings in New York State during the first three quarters of 2009, an 11 percent decrease from the same period a year earlier; that compares to a 22 percent year-over-year increase nationally.
Last Thursday, Ron Lieber (who writes the “Your Money” column for The New York Times) posted an innocuous little tweet:
This person will have book deal & Today show slot in 5 minutes. RT @marypilon Personal finance blogger eats on $1/day. http://www.grocerycouponguide.com/articles/eating-well-on-1-a-day/
To translate into plain English, Jeffrey from the Grocery Coupon Guide blog undertook a little experiment last month. In response to a challenge from his sister he “ate well” on just a buck a day, thanks largely to his awesome shopping skills and couponing prowess.
Because I love stories of extreme personal finance, and because I haven’t highlighted one in a long time, I decided to take a closer look; I spent an hour reading about his project. Holy cats! This fellow’s shopping abilities are insane.
If you don’t have time to read the entire series, at least check out day one, in which Jeffrey documents the things he bought to get the project started. He photographed everything he purchased and every receipt, and describes exactly how you might be able to find similar discounts. It’s great stuff. (Near the end of his introductory post, he gives a sort of table of contents for the project so that you can jump to the day you want.)
On that first day, he picks up two boxes of instant oatmeal, some cream cheese and some sour cream, ten apples, four boxes of wheat thins, a jar of peanut butter, two cans of pork and beans, a bag of rice, and two packages of tortillas. And he spent just $4.49 for all of this.
Here’s Jeffrey’s list of the ten things he learned while eating on $1 a day for a month:
Grocery shopping is a game. If you’re willing to learn the rules of the game, you can save big bucks.
You can eat more than junk food on a dollar a day. Yes, more money lets you make healthier choices, but you can still make good choices on a tight budget.
Drugstores can be a great place to get free food. Because it’s so easy to save money playing the drugstore game, you can often score food for free.
If you don’t know what a catalina coupon is, you don’t know about the most powerful discounts available. These coupons, which print at the cash register, can offer tremendous savings.
Generic and store-brand items aren’t as cheap as you’d think. Their regular price may be less, but you’re not going to find coupons and discounts on them like you will on big national brands.
Most people don’t know how to shop to save. They decide what they want and then go to the grocery store to buy those things. To truly save, you need to build your meals around what’s on sale (and what you have coupons for).
It’s possible to donate a lot of food while only eating on a buck a day.
It doesn’t take nearly as much time as you’d imagine. Yes, there’s a learning curve, but once you know what to do, it’s easy.
Finding coupons is the key. The Sunday newspaper inserts are great, but Jeffrey says that the coupons you find in the stores themselves are often even better.
Anyone can do it. And once you learn, you’ll save big bucks every time you shop.
On the final day of his project, Jeffrey summarized his purchases. During the month of May, he spent $27.08 to purchase $597.96 worth of food. And because of the goofy rules he agreed to with his sister, he ended up donating a bunch of stuff to his local food bank. (The last post is entertaining because of the mistake he makes and then corrects; it had me laughing out loud.)
I like that Jeffrey has a realistic attitude about this project. While he thinks that anyone can do the same thing he’s doing, he also recognizes that living on a tight food budget puts you in a precarious position: “The problem with eating on a limited budget, when the unexpected happens…is that you can’t just stop into a fast food joint and grab a bite.”
Jeffrey was so pleased with the challenge that he decided to continue it. For the past week, he’s been chronicling his continued efforts to eat well for less. (Though he’s loosened some of the arbitrary restrictions he agreed to when he was trying to prove a point to his sister.) I think it’s fun that his readers have started to give him tips and suggestions for finding other great bargains, which helps him keep his costs even lower!
Note: Here are some past GRS stories about extreme personal finance: One month as a freegan, How to pay off your mortgage in three years, The man without money, and the king of extremism, Don Schrader, who lives on $10 a day. Also welcome Lifehacker readers!
Aspiring home owners are finding the housing market to be pretty grim lately. With record-high mortgage rates, expensive insurance, and a limited selection of pricey homes, many are staying put — whether they want to or not.
But the bleakoutlook could be a boon for Ikea, a budget furniture seller that appeals to people who need to furnish small spaces, can’t spend much and don’t expect products to last very long.
With “people maybe not being able to get into that dream house right now, whether for affordability or availability … they’re looking for solutions that might not be as permanent,” said Michael Brown, partner in the consulting firm Kearney’s consumer products and retail practice. He added that unlike its competitors, Ikea’s offerings work well insmallerspaces.“I actually think the environment is ripe for them to go and expand at this point in time,” he said.
In fact, the chain announced a $2.2 billion investment in the US market in April, its largest-ever investment in the country. Over the next three years, it plans to open eight large stores and nine smaller “plan and order points,” where customers can chat with design consultants and order products. It also wants to improve delivery and to open 900 new order pick-up locations.
“We see endless opportunities to grow” in the US, Tolga Öncü, head of Ikea Retail for the Ingka Group,Ikea’s Dutch holding company, said in a statement at the time.
Trading down
By charging ahead now, while home-ownership and renovations are out of reach forbudget-consciousAmericans, Ikea can reach more people who may be in the market for their products, and possibly hold onto those customers in the future.Plus, some of the things that people consider negative about Ikea could turn into positives.
At “low-cost discretionary retailers… products often feel very temporary and almost disposable for people,” said Karl Zimmermann, a partner at the consulting firm Bain with expertise in retail. But for some customers, a temporary option could be just the thing. A retailer like Ikea “could absolutely benefit from a period like this, where people are pulling back from bigger expenditures and doing smaller, more incremental moves to solve their needs,” he said.
“I don’t think that this is what [Ikea] would have picked in an ideal state,” said Sucharita Kodali, principal analyst at Forrester, a research and consulting firm, referring to the difficult housing market and consumers slashing spending in the space.But, “they’re at the low end, and they may be able to pick up some share from people who are trading down.”
At a place like Ikea, people may now be willing to trade their time and their energy for the lower price, noted Zimmermann.
That’s similar to the trade people are willing to make to shop at Aldi, a no-frills budget supermarket which is largely stocked with store brands and where items are stacked in cartons. When food inflation soared, so did Aldi’s sales. At this economic moment, “I can see concepts that are pointed … towards a lower-income consumer having tons of runway,” he said.
Those new plan and order locations could also be a draw.
“In the past, design services were mostly accessible to those that could afford them,” said Marisa Ortega, retail analyst at the research firm Mintel. “Now we are seeing more retailers offering this perk.”
Meanwhile, once-mighty retailers are feeling the pain.
After splurging on home improvement projects during the pandemic, consumers are pulling back. And those that invested in new decor a few years ago might not buy anything new for a while.
Home improvement retailer Lowe’s lowered its profit and sales outlook for the year in May, saying consumers were spending less on home improvement. Home Depot also posted disappointing sales for its first quarter and lowered its outlook for the year. Furniture retailerEthan Allen reported that in the three months ending on March 31, its net sales in retail fell 9.5% year-over-year.
Ikea, which is not publicly traded, reported that its retail sales rose by 6.5% in fiscal year 2022, but didn’t post quarterly results. Its competitors also saw sales rise last year.
A budget store can scoop up customers who are looking for cheaper alternatives, rather than abstaining from buying altogether. And with more locations and options, it can reach more people.
“Many companies hold back on spending during economic downturns,” Ortega said. “So this expansion can give Ikea a leg up to build stronger relationships with consumers and position itself for long-term growth.”
— CNN’s Anna Cooban, David Goldman, Nathaniel Meyersohn and Parija Kavilanz contributed to this report.
One of the fastest growing and largest mortgage lenders in the country goes by the name PennyMac, not to be confused with Freddie Mac.
If you’re wondering what the rather odd name means, it stands for Private National Mortgage Acceptance Co.
While the company started as a buyer of distressed mortgage assets after the mortgage crisis in the early 2000s, it wasn’t long before they were originating their own home loans.
Today, they refer to themselves as a “top 3 lender in the U.S.,” which is likely driven by their strong correspondent lending business.
They purchase home loans from small and mid-sized banks, along with credit unions and other smaller mortgage lenders.
But they’re also becoming a major retail mortgage lender as well, serving consumers directly and beginning to make a household name for themselves.
In fact, in October 2019 they broke their one-month record by lending more than $1 billion directly to consumers.
If you’re looking to purchase a home or refinance an existing mortgage, PennyMac might be a lender worth looking into.
PennyMac Mortgage Quick Facts
Publicly-traded mortgage company launched in 2008
Former Countrywide Financial CFO is their founder
A top-3 mortgage lender licensed everywhere but NY
Nearly 4,000 employees, headquartered in Westlake Village, CA
Funded $125B in home loans during 2021 (6th largest lender nationally)
Services more than $368B in home loans for its customers
First a little history on PennyMac, which only stretches back to 2008. But they’ve been busy since.
Back then, they had only 72 employees, however, that total included some major mortgage players, namely former Countrywide Financial CFO and COO Stanford L. Kurland.
This might explain their explosive growth from startup to now one of the largest (if not largest) correspondent mortgage lenders in the country.
They also launched a wholesale mortgage division in 2018 to serve mortgage brokers known as “PennyMac Broker Direct.” It is now known as PennyMac TPO.
So they offer mortgages via the three major channels, including retail, correspondent, and wholesale.
They are also a top-10 residential mortgage servicer with over $368 billion in portfolio, and a publicly-traded company, with two stocks on the NYSE.
How to Apply for a Mortgage with PennyMac
Can apply online or by phone or visit a local sales office
Loan application powered by Mortgage Access Center (m.a.c)
Allows you to check loan status 24/7 and upload key documents
Can view your credit scores and access W-2s from your employer via The Work Number verification
I always give props to lenders that let you apply for a mortgage directly on their website. It’s 2020, so if this isn’t an option, and you’re a lender, you better make it one.
With PennyMac, you can apply right away or get pre-approved online by creating an account and filling out a digital loan application.
If you’re old school, or simply need some guidance, you can also enter your contact information on their website and a loan officer will reach out to you to answer questions and get the loan process started.
It’s also possible to simply call them up to get connected with a loan officer to go over mortgage rates and available loan programs.
Those who are just sniffing around can take advantage of PennyMac’s Home Value Estimator tool, which provides its own home price estimate along with Zillow’s Zestimate and price per square foot.
So if you want to more details on what a potential home purchase will cost, or want to know what your current property is valued at, you can do so for free on their website.
Anyway, once you do apply, you can take advantage of their digital loan experience known as m.a.c., short for Mortgage Access Center.
To make the experience quicker and easier, they allow you to import bank statements from your online banking account(s) and verify W-2s via The Work Number.
You’re also able to securely upload documents, access your credit scores, and check loan status 24/7.
As your loan progresses, you’ll receive status notifications and update calls from your dedicated m.a.c team.
Types of Loans Offered by PennyMac
Conventional loans: conforming and jumbo loan amounts
Government-backed loans: FHA, USDA, and VA loans
Home purchase and refinance loans (cash-out is an option)
Variety of fixed-rate and adjustable-rate mortgages
Like most lenders, they offer both home purchase loans and refinance loans, in both fixed-rate and adjustable-rate options.
You can get both a conventional loan backed by Fannie Mae or Freddie Mac, or a government-backed loan via the FHA, USDA, or VA.
They offer conforming loans and jumbo loans, so those with expensive properties are good to go.
With regard to loan type, you can get a fixed-rate mortgage with various terms, such as 30-year, 20-year, and 15-year.
Or an adjustable-rate mortgage with an initial fixed-rate period, such as a 3/1, 5/1, 7/1, or 10/1 ARM.
PennyMac also recently rolled out a home equity line of credit (HELOC) product to customers in select states, claiming to be the only major nonbank lender to directly offer one.
They lend on primary residences, second homes, and investment properties, so you’re covered regardless of occupancy type.
PennyMac Mortgage Rates
One plus to using PennyMac is that they’re fairly transparent about mortgage rates.
If you go to one of their loan product pages, you’ll see today’s mortgage rates listed. Be sure to view the assumptions and recognize that they’re just sample rates that meet certain criteria.
You can also get a customized quote on their website in about 30 seconds by answering a series of simple borrower- and property-related questions.
While the interest rate may not be set in stone, you can at least get a good idea of how competitive they are relative to other lenders.
Once you get your rate quote, you’ll see several loan options such as the 30-year fixed and 15-year, and possibly some ARMs as well.
They list the interest rate, APR, and mortgage points required for the rate in question.
You can also view additional rates to see what the rate would be with fewer or more discount points.
Assuming you like what you see, you can apply right then and there, which is nice. Or you can call them or have them call you.
All in all, their mortgage rates seem to be competitive from what I saw relative to other lenders, but always take the time to shop around.
PennyMac Better Rate Promise and Close On-Time Promise
PennyMac also makes a lot of promises that they back with real money if they don’t live up to them.
Their “Better Rate Promise” is their promise to beat any competitor’s mortgage rate and/or lender fees.
If they’re unable to do so, and you take your loan elsewhere, they’ll give you a $250 Visa gift card.
Their Close On-Time Promise is their promise to close your home loan on time. If there’s a delay that is their fault and not the borrower’s or a third party, you’ll be sent a $500 Visa gift card.
Both these promises, collectively known as “The PennyMac Promise,” only apply to home purchase loans, not refinances, and there are other various restrictions in the fine print.
PennyMac Mortgage Reviews
PennyMac has more than 19,000 customer reviews on SocialSurvey with a 4.57 out of 5-star rating.
They’ve also got a 4.25 rating out of 5 stars at Zillow based on 173 customer reviews. Many of those reviews indicate the interest rate and closing costs were lower than expected.
Additionally, they are an accredited business with the Better Business Bureau and have an A+ BBB rating.
They’ve got a near-4 star rating based on 421 customer reviews. But they’ve also got a healthy number of customer complaints, with more than 500 at last glance.
So you may want to dig through those if you’re concerned about their customer service.
PennyMac Pros and Cons
The Good Stuff
They openly display their mortgage rates
You can get a no-obligation quote on their website in seconds
Can apply online via digital loan process
Offer lots of different loan options for all types of borrowers
They service the home loans they originate
Free mortgage calculators and home estimate tool
Good customer reviews overall
Close On-Time Promise
Better Rate Promise
The Maybe Bad Stuff
Mortgage rates might not be the lowest
Lender fees are not listed on their website
Be sure to shop around the invoke the Better Rate Promise if necessary
One of the fastest growing and largest mortgage lenders in the country goes by the name PennyMac, not to be confused with Freddie Mac.
If you’re wondering what the rather odd name means, it stands for Private National Mortgage Acceptance Co.
While the company started as a buyer of distressed mortgage assets after the mortgage crisis in the early 2000s, it wasn’t long before they were originating their own home loans.
Today, they refer to themselves as a “top 3 lender in the U.S.,” which is likely driven by their strong correspondent lending business.
They purchase home loans from small and mid-sized banks, along with credit unions and other smaller mortgage lenders.
But they’re also becoming a major retail mortgage lender as well, serving consumers directly and beginning to make a household name for themselves.
In fact, in October 2019 they broke their one-month record by lending more than $1 billion directly to consumers.
If you’re looking to purchase a home or refinance an existing mortgage, PennyMac might be a lender worth looking into.
PennyMac Mortgage Quick Facts
Publicly-traded mortgage company launched in 2008
Former Countrywide Financial CFO is their founder
A top-3 mortgage lender licensed everywhere but NY
Nearly 4,000 employees, headquartered in Westlake Village, CA
Funded $125B in home loans during 2021 (6th largest lender nationally)
Services more than $368B in home loans for its customers
First a little history on PennyMac, which only stretches back to 2008. But they’ve been busy since.
Back then, they had only 72 employees, however, that total included some major mortgage players, namely former Countrywide Financial CFO and COO Stanford L. Kurland.
This might explain their explosive growth from startup to now one of the largest (if not largest) correspondent mortgage lenders in the country.
They also launched a wholesale mortgage division in 2018 to serve mortgage brokers known as “PennyMac Broker Direct.” It is now known as PennyMac TPO.
So they offer mortgages via the three major channels, including retail, correspondent, and wholesale.
They are also a top-10 residential mortgage servicer with over $368 billion in portfolio, and a publicly-traded company, with two stocks on the NYSE.
How to Apply for a Mortgage with PennyMac
Can apply online or by phone or visit a local sales office
Loan application powered by Mortgage Access Center (m.a.c)
Allows you to check loan status 24/7 and upload key documents
Can view your credit scores and access W-2s from your employer via The Work Number verification
I always give props to lenders that let you apply for a mortgage directly on their website. It’s 2020, so if this isn’t an option, and you’re a lender, you better make it one.
With PennyMac, you can apply right away or get pre-approved online by creating an account and filling out a digital loan application.
If you’re old school, or simply need some guidance, you can also enter your contact information on their website and a loan officer will reach out to you to answer questions and get the loan process started.
It’s also possible to simply call them up to get connected with a loan officer to go over mortgage rates and available loan programs.
Those who are just sniffing around can take advantage of PennyMac’s Home Value Estimator tool, which provides its own home price estimate along with Zillow’s Zestimate and price per square foot.
So if you want to more details on what a potential home purchase will cost, or want to know what your current property is valued at, you can do so for free on their website.
Anyway, once you do apply, you can take advantage of their digital loan experience known as m.a.c., short for Mortgage Access Center.
To make the experience quicker and easier, they allow you to import bank statements from your online banking account(s) and verify W-2s via The Work Number.
You’re also able to securely upload documents, access your credit scores, and check loan status 24/7.
As your loan progresses, you’ll receive status notifications and update calls from your dedicated m.a.c team.
Types of Loans Offered by PennyMac
Conventional loans: conforming and jumbo loan amounts
Government-backed loans: FHA, USDA, and VA loans
Home purchase and refinance loans (cash-out is an option)
Variety of fixed-rate and adjustable-rate mortgages
Like most lenders, they offer both home purchase loans and refinance loans, in both fixed-rate and adjustable-rate options.
You can get both a conventional loan backed by Fannie Mae or Freddie Mac, or a government-backed loan via the FHA, USDA, or VA.
They offer conforming loans and jumbo loans, so those with expensive properties are good to go.
With regard to loan type, you can get a fixed-rate mortgage with various terms, such as 30-year, 20-year, and 15-year.
Or an adjustable-rate mortgage with an initial fixed-rate period, such as a 3/1, 5/1, 7/1, or 10/1 ARM.
PennyMac also recently rolled out a home equity line of credit (HELOC) product to customers in select states, claiming to be the only major nonbank lender to directly offer one.
They lend on primary residences, second homes, and investment properties, so you’re covered regardless of occupancy type.
PennyMac Mortgage Rates
One plus to using PennyMac is that they’re fairly transparent about mortgage rates.
If you go to one of their loan product pages, you’ll see today’s mortgage rates listed. Be sure to view the assumptions and recognize that they’re just sample rates that meet certain criteria.
You can also get a customized quote on their website in about 30 seconds by answering a series of simple borrower- and property-related questions.
While the interest rate may not be set in stone, you can at least get a good idea of how competitive they are relative to other lenders.
Once you get your rate quote, you’ll see several loan options such as the 30-year fixed and 15-year, and possibly some ARMs as well.
They list the interest rate, APR, and mortgage points required for the rate in question.
You can also view additional rates to see what the rate would be with fewer or more discount points.
Assuming you like what you see, you can apply right then and there, which is nice. Or you can call them or have them call you.
All in all, their mortgage rates seem to be competitive from what I saw relative to other lenders, but always take the time to shop around.
PennyMac Better Rate Promise and Close On-Time Promise
PennyMac also makes a lot of promises that they back with real money if they don’t live up to them.
Their “Better Rate Promise” is their promise to beat any competitor’s mortgage rate and/or lender fees.
If they’re unable to do so, and you take your loan elsewhere, they’ll give you a $250 Visa gift card.
Their Close On-Time Promise is their promise to close your home loan on time. If there’s a delay that is their fault and not the borrower’s or a third party, you’ll be sent a $500 Visa gift card.
Both these promises, collectively known as “The PennyMac Promise,” only apply to home purchase loans, not refinances, and there are other various restrictions in the fine print.
PennyMac Mortgage Reviews
PennyMac has more than 19,000 customer reviews on SocialSurvey with a 4.57 out of 5-star rating.
They’ve also got a 4.25 rating out of 5 stars at Zillow based on 173 customer reviews. Many of those reviews indicate the interest rate and closing costs were lower than expected.
Additionally, they are an accredited business with the Better Business Bureau and have an A+ BBB rating.
They’ve got a near-4 star rating based on 421 customer reviews. But they’ve also got a healthy number of customer complaints, with more than 500 at last glance.
So you may want to dig through those if you’re concerned about their customer service.
PennyMac Pros and Cons
The Good Stuff
They openly display their mortgage rates
You can get a no-obligation quote on their website in seconds
Can apply online via digital loan process
Offer lots of different loan options for all types of borrowers
They service the home loans they originate
Free mortgage calculators and home estimate tool
Good customer reviews overall
Close On-Time Promise
Better Rate Promise
The Maybe Bad Stuff
Mortgage rates might not be the lowest
Lender fees are not listed on their website
Be sure to shop around the invoke the Better Rate Promise if necessary
The largest institutional single-family rental (SFR) operator in the country, Invitation Homes, is in the hot seat over its alleged failure to comply with building-permit requirements for rental properties it owns in California.
Another larger player in the space, Progress Residential, recently postponed a securitization transaction due to difficult market conditions. And yet another big force in the market, FirstKey Homes, is pulling collateral out of a 2021 securitization deal.
These developments—and more—can be seen as cracks in the armor of a housing-industry sector that rose out of the ashes of the Great Recession and grew to become a thriving alternative for individuals locked out the home-purchase market by rapidly rising prices.
The market stresses facing the SFR sector now include decelerating rents, a rising cost of capital and a shortage of homes available to purchase — which has slowed property acquisitions and related securitization deals that help market players regenerate capital.
David Petrosinelli, a New York-based senior trader with InspereX, a tech-driven underwriter and distributor of securities that operates multiple trading desks around the country, said he expects the securitization market for institutional SFR players to “approximate a more normal market by summertime.”
“But the caveat, of course, is that all bets are off if there’s a more meaningful contraction in lending [in the wake of recent bank failures and other economic factors] because then you’re in serious trouble,” Petrosinelli added.
Inviting an SFR lawsuit
Invitation Homes earlier this year failed to convince a judge to dismiss a pending whistleblower lawsuit filed against the company in federal court in San Diego that alleges it made improvements at scores of properties in California without first securing required building permits.
The lawsuit claims further that the company “ignored permitting laws to avoid fees and increased taxes as well as to get renovated homes on the rental market as soon as possible.” The whistleblower litigation, known as a qui tam action — which allows private parties to sue on behalf of the United States — was filed under seal in state court in California in 2020 and moved last year to federal court — where the judge’s ruling denying dismissal of the case was handed down in January of this year.
The lawsuit is filed as a false-claims action on behalf of some 18 California cities by an entity called Blackbird Special Projects LLC, which discovered the alleged violations based on its examination of public records using artificial intelligence software. If successful in the litigation, Blackbird stands to get a cut of any recoveries for the local governments.
“To support these assertions, [Blackbird] used proprietary software to scour different rental listing websites such as Zillow.com and [Invitation Home’s] website to identify homes owned by defendant,” pleadings in federal court state. “[Blackbird] then used its proprietary ‘lookback’ technology to access pre-renovation images of the homes from a multiple listing service and compare them with post-renovation images from the rental advertisements.”
Invitation Homes declined to comment on specific allegations raised in the lawsuit, but a company spokesman did say the “allegations are without merit, and we intend to vigorously defend the company.”
“Invitation Homes is currently the largest owner of single-family, rental homes in the United States, with most of its homes located in California, Florida, Georgia, Texas and other Sun Belt states,” the federal lawsuit states. “In California, as of December 31, 2019, defendant [Invitation Homes] owned 12,461 single-family homes in over 100 cities.
“… By its failure to pay or remit inspection, permit fees, penalties and interest, Invitation Homes has defrauded cities and counties in California millions of dollars.”
By “renovating thousands of homes” absent obtaining building permits, pleadings in the case allege, Invitation Homes was able to “avoid revaluations that would have happened if permits were obtained, thus evading increased property taxes on improved properties.”
The Invitation Homes’ case is being watched closely by some players in the secondary market, where large SFR operators like Invitation Homes raise funds through securitization deals backed by their rental properties.
“The reason this matters is they [Invitation Homes] make representations and warranties into their securitization trusts that all work improvements are permitted,” explained Ben Hunsaker, a portfolio manager focused on securitized credit for California-based Beach Point Capital Management. “So, there are points where they may have to refinance securitization debt if this [litigation] goes sideways for them with unsecured corporate debt, and they go from 1% or 2% cost of capital to 7% or 8% cost of capital, and they also have to worry about their ratings then.”
Invitation Homes (IH) spent about $25,000 on renovations per home for its California SFR portfolio, pleadings in the lawsuit state.
“The vast majority of IH’s renovations required permits — including for demolishing and constructing sections of single-family homes, installing and demolishing pools, and significantly altering the electrical work— but permits were not obtained,” court pleadings allege. “Once the single-family homes were renovated without the required permits, IH rented them to tenants who were unaware of the unpermitted and potentially unsafe renovations.”
The federal judge now overseeing the case earlier this year denied a motion lodged by Invitation Homes seeking to have the case dismissed. As part of that ruling, the judge made clear that he wasn’t going to entertain any arguments by the defendant seeking to shift blame to contractors for failing to secure the building permits.
The judge states in his ruling, essentially, that even if independent contractors are responsible for the alleged failure to obtain building permits, that fact alone doesn’t absolve Invitation Homes of the responsibility to “do the investigating itself” to ensure permits were issued.
Industrywide turbulence
The lawsuit against Invitation Homes is not the only dark cloud hanging over the institutional SFR sector.
The securitization market for institutional SFR companies, which collectively represent some 5% of an SFR market composed of some 17 million properties, is currently in the doldrums. That’s largely due to a lack of housing available to purchase, and consequently a lack of new assets to securitize, according to market expert L.D. Salmanson.
Salmanson is CEO of Cherre, a data-integration and insights platform that works with major players in the real estate market, including insurers, asset managers, lenders and SFR operators. The company serves as a data warehouse and deep analytics platform that integrates client data with other public and private data sources to create powerful market assessment and forecasting tools.
“First of all, there’s been a massive slowdown in the purchase rate for the large [SFR] players,” Salmanson said. “What’s been causing the slowdown is not the [flat to decelerating] rental prices, although that is affecting it.
“Rather, it’s that there are a lot less people selling because they’re not getting the [higher] prices that they’re looking for [as home prices decelerate]. But that’s temporary. That’s not going to last.”
Last year, there were a total of 15 securitization deals involving large institutional SFR players valued in total at $10.3 billion, according to data tracked by Kroll Bond Rating Agency (KBRA). This year, so far, there has been one offering, a $343 million securitization deal by Progress Residential (Progress 2023-SFR1) that closed in late February, KBRA data show.
Yet even Progress, which has a portfolio of some 83,000 SFR properties, appears to be caught up in the SFR securitization stagnation. Hunsaker said one major SFR player a few weeks ago postponed a securitization deal, pulling it off the market prior to pricing due to market conditions.
That player, according to industry sources, was Pretium Partners-backed Progress Residential, and the deal was Progress 2023-SFR2.
Hunsaker added that another potential drag on the institutional SFR market is the fact that some single-family rental (SFR) operators are backed by investment firms that also invest in the commercial real estate market, which he said also is facing stiff headwinds now — particularly in the office and multifamily sectors.
For example, Bridge Investment Group Holdings early last year acquired Gorelick Brothers Capital’s estimated 2,700 SFR-property portfolio spread across 14 markets concentrated in the Sunbelt and Midwest. Bridge’s portfolio also includes investments in office and multifamily properties.
Likewise, SFR operator FirstKey Homes, with a portfolio of some 45,000 SFR properties under management, is an affiliate of Cerberus Capital Management, a global investment firm with approximately $60 billion in assets across credit, private equity as well as residential and commercial real estate interests.
KBRA reported last month that FirstKey Homes exercised a so-called “excess collateral release” [ECR] feature for a securitization deal dubbed FirstKey Homes 2021-SFR1. It was the first such ECR exercised across the 12 KBRA-rated securitization deals to date that have included such a provision.
“In connection with the subject transaction … the issuer requested release [via the ECR] of 729 properties from the collateral pool of 9,218 properties,” KBRA’s report notes. “Post release, the remaining 8,489 properties will collateralize the same debt of $2.06 billion [due to increased home values].
“…The analysis indicated that the [exercise of the] ECR, in and of itself, would not result in a downgrade.”
Hunsaker said for many SFR operators facing uncertainty now, the solution is to stop buying new properties if they believe their cost of capital is rising too much — absent home prices dropping enough in the future to make the numbers work.
“I think most of these [SFR operators] are capitalized for longer-term [property] holding incentives [and] … I don’t think these structures are set up to be forced sellers,” Hunsaker said.
He added that healthy home-price appreciation to date made it possible for FirstKey Homes to release the excess collateral from the 2021 securitization deal.
“But they weren’t releasing that excess collateral to sell the houses,” he stressed. “They’re releasing that excess collateral to put it on their balance sheet and reduce the amount of encumbered debt they have.”
FirstKey Homes does not share financial details about its operations for competitive reasons, a company spokesman said when asked to comment on the ECR transaction.
“What’s vital to remember is that across the SFR sector, investors are still active, albeit a bit more selective, with the belief SFR provides durable cash flows and stable occupancies,” the FirstKey spokesman added. “Additionally, with household formations significantly outpacing the decades-long low housing supply, it bodes well for continued strong demand for the high-quality single-family rental homes we provide our family of residents.”
“Where are you from?” It’s a common question when you meet someone new while traveling. And it’s an easy question for most people. But for me, it’s complicated if I want to give more details than “the United States.”
After all, my husband and I gave up our Austin, Texas, apartment in June 2017, sold or donated most of our belongings and then set out as digital nomads on July 2, 2017. So, excluding some extended time living with family early in the coronavirus pandemic, we’ve traveled full time while working remotely for the last six years.
In 2020, I wrote about my first three years as a digital nomad. But in this story, I’ll look back at the past six years. In doing so, I’ll discuss how I became a digital nomad, some of my travel statistics and how travel has changed for me during the past six years.
How I became a digital nomad
On a bus from Aguas Calientes to Machu Picchu in Peru in 2013, I first heard of a gap year or sabbatical year. I hadn’t gotten into points and miles yet, but my husband and I loved the idea of taking a year off to travel after I finished graduate school. Well, fast forward four years to 2017, when it was time to leave on our “gap year.” By this time, we were already working as writers in the award travel space.
So, we hit the road as digital nomads instead of taking a gap year. And we quickly fell in love with the freedom and flexibility of the lifestyle. I appreciate experiencing different cultures, landscapes, experiences and cuisines daily. And I’ve found that frequently visiting new destinations inspires me.
I also enjoy using the topics I write about — points, miles, credit cards and elite status — on a daily basis. We make award redemptions most weeks (and often multiple times a week), and we’re constantly traveling. So, I know many of the airline, hotel and credit card programs I write about from personal experience. And I’m personally invested when these programs change or devalue their rewards.
Points and miles certainly fuel some of our travel. But we also book paid flights and nights when it makes sense. After all, we only have a finite amount of points and miles, and we’ve found that paid partner-operated premium-cabin flights are often the best way to earn airline elite status.
Related: 6 ways award travel and elite status pair well with my digital nomad life
1,121,959 miles on 575 flights
Over the last six years, I’ve taken 575 flights on 62 airlines to 180 airports in 58 countries. I’ve taken so many flights in the last six years that my flight map is difficult to read.
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I flew 1,121,959 direct flight miles in the last six years, with an average flight distance of 1,951 miles (about the distance from Atlanta to Los Angeles). My longest flight was 9,532 miles, from New York to Singapore. And my shortest flight was just 11 miles from Tahiti to Moorea in French Polynesia.
But my most memorable flight was on Sri Lanka’s Cinnamon Air from Polgolla Reservoir Aerodrome (KDZ) to Koggala Airport (KCT) on a Cessna 208 amphibious caravan.
I frequently fly American Airlines and often use Hartsfield-Jackson Atlanta International Airport (ATL) when visiting family. So, it’s not surprising that my three most frequent routes by flight segments are between American Airlines’ hubs and Atlanta. Here’s a look at my top 10 most frequent flight segments over the last six years:
New York’s LaGuardia Airport (LGA) to/from ATL: 15 flights
Dallas Fort Worth International Airport (DFW) to/from ATL: 11 flights
Charlotte Douglas International Airport (CLT) to/from ATL: 10 flights
Kuala Lumpur International Airport (KUL) to/from Kualanamu International Airport (KNO): 10 flights while I earned Malaysia Airlines Enrich Gold status in 2019
Los Angeles International Airport (LAX) to/from ATL: Nine flights
Las Vegas’ Harry Reid International Airport (LAS) to/from LAX: Eight flights
DFW to/from LGA: Six flights
London’s Heathrow Airport (LHR) to/from LAX: Six flights
Hong Kong International Airport (HKG) to/from Da Nang International Airport (DAD): Six flights booked during Cathay Pacific’s New Year’s deal in 2019
DFW to/from LAS: Five flights
And my loyalty to American Airlines AAdvantage and its Oneworld partners shows when you look at the airlines I flew most by flight segments:
American Airlines: 224 flights, including reviews of American’s A321T business class, 787-9 business class, 777-200 business class with B/E Aerospace Super Diamond seats, 787-8 Main Cabin Extra, 757-200 Main Cabin Extra and 757-200 business class
United Airlines: 31 flights, including reviews of United’s 787-8 economy class and 757-200 economy class
Southwest Airlines: 29 flights, including a review of Southwest’s 737-800 from Oakland, California, to Newark
Malaysia Airlines: 26 flights
Qatar Airways: 23 flights, including reviews of Qatar Qsuite on a 777-300ER and Qatar Qsuite on an A350-1000
Delta Air Lines: 22 flights, including when I was one of the first American tourists to fly to Italy on a COVID-19-tested flight
British Airways: 20 flights, including a review of British Airways’ A380 economy class
Cathay Pacific: 17 flights
Japan Airlines: 14 flights, including a review of Japan Airlines’ 777-300ER premium economy
Qantas: 12 flights
However, if you look at the airlines on which I flew the most mileage, the ranking is a bit different due to some mileage runs:
American Airlines: 404,296 miles
Cathay Pacific: 104,481 miles
Qatar Airways: 89,630 miles
British Airways: 53,357 miles
Delta Air Lines: 49,603 miles
United Airlines: 42,237 miles
Singapore Airlines: 36,176 miles, including a review of Singapore Airlines’ A350-900ULR premium economy
Japan Airlines: 33,756 miles
Air Canada: 30,792 miles
All Nippon Airways: 28,938 miles
I track all my flights in OpenFlights. So, although it’s relatively easy for me to gather statistics on my flights, I don’t have a simple way to determine the amount I paid in points and cash for my 575 flights during the last six years.
Related: The best credit cards for booking flights
1,103 nights in hotels
I’ve spent over half of the last six years living out of hotel rooms. In particular, I’ve spent 894 nights at 75 major hotel brands within the last six years. And I’ve spent 209 nights at other brands and independent hotels.
Here’s the breakdown of my stays by loyalty program and brand over the last six years, including notes about my favorite programs.
390 nights at 15 IHG brands
Holiday Inn Express: 120 nights
Holiday Inn: 66 nights
InterContinental Hotels & Resorts: 51 nights, including five nights at the InterContinental Hayman Island Resort in Australia, four nights at the InterContinental Phuket Resort in Thailand, four nights at the InterContinental Phu Quoc Long Beach Resort in Vietnam, three nights at the InterContinental Danang Sun Peninsula Resort in Vietnam, three nights at the InterContinental New York Times Square in New York and two nights at the InterContinental Fiji Golf Resort & Spa in Fiji
Candlewood Suites: 28 nights
Hotel Indigo: 26 nights, including five nights at the Hotel Indigo Austin Downtown-University in Texas and four nights at the Hotel Indigo Birmingham Five Points South – UAB in Alabama
Staybridge Suites: 22 nights
Crowne Plaza Hotels & Resorts: 19 nights, including three nights at the Crowne Plaza Beijing Wangfujing in China and three nights at the Crowne Plaza Times Square in New York
Holiday Inn Resort: 19 nights, including 10 nights at the Holiday Inn Resort Kandooma Maldives in the Maldives
Voco: 11 nights, including six nights at Voco Gold Coast in Australia
Regent: Nine nights
Kimpton Hotels & Restaurants: Eight nights
Six Senses: Six nights, including four nights at Six Senses Laamu in the Maldives and two nights at Six Senses Yao Noi in Thailand
Atwell Suites: Two nights at Atwell Suites Miami Brickell in Florida
Avid: Two nights at Avid hotel Oklahoma City — Quail Springs in Oklahoma
Even: One night
Over the last six years, I’ve stayed 161 paid nights at IHG properties for an average of $152 per night. The least I paid was $48 per night at the Holiday Inn Express Berlin — Alexanderplatz in Germany. And the most I paid was $1,564 per night during a review of the InterContinental Maldives Maamunagau Resort in the Maldives.
Meanwhile, we redeemed IHG points for 209 nights over the last six years, including 36 fourth-night-free rewards. On average, we redeemed 15,591 IHG points per night. We also redeemed 20 anniversary nights over the last six years, including at the InterContinental Bora Bora Resort & Thalasso Spa in French Polynesia and the Kimpton De Witt Amsterdam in the Netherlands.
You might wonder how we earned so many IHG points and anniversary nights. We maximize IHG promotions to earn points on stays. And we often buy points during IHG points sales with a 100% bonus when we can do so for 0.5 cents per point. As for the anniversary night certificates, we both have multiple IHG credit cards, so we’ve each earned two anniversary nights for most of the last six years.
We frequently stay at IHG One Rewards hotels and resorts due to the high value we often get when redeeming IHG points. But, with the launch of the new IHG One Rewards program last year, we are also getting good value from the annual lounge membership you can select through IHG’s Milestone Rewards program after staying 40 nights in a year.
Related: 9 budget strategies for getting the most out of your points and miles
209 nights at other brands and independent hotels
These days, we usually stay at major hotel brands to earn and use elite status perks and benefit from the consistency provided by these brands. But we often stayed at independent hotels when we first hit the road as digital nomads in 2017. And even now, we sometimes find ourselves in a destination without major hotel brands or where staying at a property outside our brand loyalties makes the most sense.
For example, we couldn’t pass up staying in a twin cell at YHA Fremantle Prison in Australia and a robot hotel in Japan. Likewise, staying within Addo Elephant and Kruger national parks in South Africa let us maximize our time seeing wildlife in these parks.
We often book these stays through online travel agencies since we don’t have to worry about missing out on elite status benefits and earnings while staying at properties outside our primary brands. For example, we’ll sometimes book through credit card portals to use credits, like the $50 hotel credit each account anniversary year on the Chase Sapphire Preferred Card. And we’ll occasionally book through American Express Fine Hotels + Resorts to snag extra perks and use the prepaid hotel credit we get each calendar year as a perk of The Platinum Card® from American Express. We’ll also sometimes use Rocketmiles to earn American Airlines miles and Loyalty Points on our stays.
On average, I paid $83 per night on these stays. But, my least expensive night was $18 per night for a private room with a shared bathroom at Stella Di Notte in Belgrade, Serbia. And my most expensive night was $235 per night at the RLJ Kendeja Resort & Villas in Liberia during PeaceJam.
203 nights at 21 Marriott brands
Over the last six years, I’ve stayed 140 paid nights at Marriott properties for an average of $121 per night. The least I paid was $44 per night at the Four Points by Sheraton Bogota in Colombia. And the most I paid was $350 per night during a review of the Waikoloa Beach Marriott Resort & Spa in Hawaii.
Meanwhile, we redeemed Marriott points for 49 nights over the last six years, including six fifth-night-free benefits. On average, we redeemed 16,167 points per night on Marriott award stays. We also redeemed 14 free night awards we earned through Marriott credit cards and promotions over the last six years.
Related: Here’s why you need both a personal and business Marriott Bonvoy credit card
115 nights at 6 Choice brands
Ascend Hotel Collection: 54 nights, including 28 nights at Emotions All Inclusive Puerto Plata in the Dominican Republic, nine nights at Gowanus Inn & Yard in New York (no longer bookable through Choice Hotels) and three nights at Bluegreen Vacations Fountains in Florida
Comfort: 37 nights, including 19 nights in Japan
Quality Inn: 13 nights
Cambria Hotels: Four nights
Rodeway Inn: Four nights
Clarion: Three nights
Over the last six years, I’ve stayed 34 paid nights at Choice Privileges properties for an average of $93 per night. The least I paid was $54 per night at the Comfort Hotel Airport CDG in France. And the most I paid was $239 per night at Cambria Hotel New York — Times Square in New York.
Meanwhile, we redeemed Choice points for 81 nights over the last six years. On average, we redeemed 9,531 Choice points per night. I’ve found I can get excellent value when redeeming Choice points for unique redemptions and for stays in Japan, Europe and destinations that typically feature high paid hotel rates. So, as with IHG, we often buy Choice points during sales or through Daily Getaways promotions.
87 nights at 11 Hyatt brands and partners
I didn’t stay much with World of Hyatt until the program offered reduced qualification requirements and double elite night credits in early 2021. I earned Globalist status in 2021 for far fewer nights than is usually required, but I’ve prioritized maintaining it due to the on-site perks it provides.
I’ve stayed 53 paid nights at Hyatt properties for an average of $139 per night over the last six years. The least I paid was $24 per night at the Excalibur Hotel & Casino in Las Vegas. And the most I paid was $353 per night at Hyatt House New York/Chelsea in New York.
Meanwhile, I redeemed Hyatt points for 27 free nights over the last six years. I’ve found some excellent Category 1 Hyatt hotels that provide wonderful value on award stays. So, it isn’t surprising that I’ve redeemed 5,563 points per night on average and just 3,500 points per night for nine nights. Additionally, I redeemed seven free night certificates that I earned through Hyatt credit cards, Hyatt Milestone Rewards and the Hyatt Brand Explorer promotion over the last six years.
40 nights at 10 Wyndham brands
Days Inn: 10 nights
Ramada: Nine nights
Ramada Encore: Five nights
Microtel: Five nights
Club Wyndham: Three nights
Super 8: Three nights
Viva Wyndham: Two nights at Viva Wyndham Azteca — All-Inclusive Resort in Mexico
Baymont: One night
Howard Johnson: One night
Travelodge: One night
Over the last six years, I’ve stayed 29 paid nights at Wyndham properties for an average of $103 per night. The least I paid was $48 per night at the Days Inn Guam-Tamuning in Guam. And the most I paid was $200 per night during a review of the Viva Wyndham Azteca — All-Inclusive Resort in Mexico.
Meanwhile, we redeemed Wyndham points for 11 nights over the last six years. On average, we redeemed 9,068 points per night on Wyndham award stays. And we love getting a 10% redemption discount when we redeem Wyndham points as a benefit of our Wyndham Rewards credit card, as this brings an award night that would typically cost 7,500 points down to just 6,750 points.
32 nights at 6 Hilton brands
Over the last six years, I’ve stayed 18 paid nights at Hilton properties for an average of $130 per night. The least I’ve paid was $58 per night at the Hilton Jaipur in India. And the most I paid was $168 per night at the Hilton Niseko Village in Japan.
Meanwhile, we redeemed Hilton points for eight nights over the last six years, including one fifth-night-free benefit. On average, we redeemed 46,250 points per night on Hilton award stays. We also redeemed six Hilton free night certificates that we earned through Hilton credit cards over the last six years for excellent value at the Conrad New York Midtown, the Conrad Maldives Rangali Island and the Hilton Maldives Amingiri Resort & Spa.
The average amount we redeemed per night with Hilton Honors is significantly higher than with other hotel loyalty programs. This, combined with my struggle to get more than TPG’s valuation (0.6 cents per point) when redeeming Hilton points, is why I don’t frequently stay at Hilton brands despite having Hilton Diamond status through a Hilton credit card.
19 nights at 4 Accor brands
Ibis: 12 nights
Mercure: Four nights
Grand Mercure: Two nights
Ibis Budget: One night
Over the last six years, I’ve stayed 19 nights at Accor properties for an average of $56 per night. The least I paid was $36 per night at the Ibis Muenchen City Nord in Germany. And the most I paid was $84 per night at the Ibis Madrid Alcobendas in Spain.
8 nights at 2 Best Western brands
Best Western: Six nights
Best Western Plus: Two nights
Over the last six years, I’ve stayed eight nights at Best Western properties for an average of $78 per night. The least I paid was $57 per night at the Best Western Amsterdam Airport Hotel in the Netherlands. And the most I paid was $147 per night at the Best Western Plus Mountain View Auburn Inn in Washington.
452 nights camping
When I became a digital nomad in 2017, I didn’t think there was any chance I’d camp 452 nights in the next six years. And even three years ago, I’d only spent three nights tent camping for a concert at The Gorge in Washington state and three nights in a rental RV doing a relocation from Las Vegas to Denver.
But, as it became apparent the coronavirus pandemic would affect international travel for more than just a few months, my husband and I tried out a six-night RV relocation rental in July 2020. Then in August 2020, we decided to buy the same RV model we’d relocated.
When we bought our Class C RV, we expected we’d sell it as soon as international travel to most destinations became relatively simple again. But, we discovered we enjoy working remotely from our RV while in the U.S. We’ve now spent 440 nights camping in our RV since buying it — 97 nights in 2020, 234 nights in 2021, 80 nights in 2022 and 29 nights so far in 2023.
Nineteen nights in our RV have been free at locations (like select Walmarts, select Cracker Barrels and businesses that participate in Harvest Hosts) that allow RVers to stay overnight upon asking permission. We’ve also spent 37 nights sleeping in the driveways of friends and family while visiting them.
But we usually find paid RV campsites with power and water. We’ve paid for campsites on 393 nights as follows:
171 nights at city and county campgrounds ($32 per night on average)
133 nights at U.S. Army Corps of Engineers campgrounds ($27 per night on average)
66 nights at state park campgrounds ($34 per night on average)
37 nights at private campgrounds ($52 per night on average)
Four nights at national park campgrounds ($48 per night on average)
On average, we’ve paid $33 per night for our RV campsites. The highest we paid was $104 per night at Orlando / Kissimmee KOA Holiday in Florida. And the least we paid was $17 per night at Shady Grove Campground in Cumming, Georgia, during a half-off promotion.
Related: The cheapest place to stay at Disney World is a tent — so I tried it
443 nights with family and friends
One aspect my husband and I appreciate about being digital nomads is seeing our family more than when we lived in one place. Here’s a breakdown of our nights with friends and family over the last six years:
July 2 to the end of 2017: 32 nights
2018: 90 nights
2019: 83 nights
2020: 167 nights
2021: 29 nights
2022: 27 nights
So far in 2023: 15 nights
We spent significant time with each of our parents in March through August of 2020 as much of the world locked down. However, the nights since August 2020 are lower than pre-pandemic since we now stay in our RV (either in the driveway or a nearby campground) while visiting most friends and family members.
Related: 43 real-world family travel tips that actually work
104 nights in transit
Over the past six years, I’ve spent 101 nights in flight or sleeping in airports. I typically avoid overnight flights, but sometimes overnight flights are unavoidable (and they’re enjoyable if I book a lie-flat seat or luck into a row to myself in economy).
If I have an overnight layover at an airport, I’ll book a hotel if the layover is long enough and I can find a modestly priced hotel on-site or with a free shuttle. But sometimes the layover is too short, or it just doesn’t make sense to get a hotel. In these cases, I’ll usually sleep in a lounge — ideally one with a sleeping area or at least lounge chairs — or in a Minute Suites (or a similar type of space) that participates in Priority Pass.
I’ve also spent three nights on trains, including two on the Amtrak Empire Builder from Portland, Oregon, to Chicago and one on a Trans-Mongolian train from Ulaanbaatar, Mongolia, to Hohhot, China. I thoroughly enjoyed both experiences, so it’s surprising that I haven’t taken any other overnight trains in the last six years. However, low-cost flights on many routes served by overnight trains often make flying a more convenient and less expensive alternative.
Related: 11 of the most scenic train rides on Earth
90 nights in vacation rentals
Vacation rentals are the accommodation of choice for many digital nomads, especially those who stay in each location for at least a month and appreciate having their own kitchen. And I spent 39 nights in vacation rentals in 2017 after becoming nomadic July 2.
However, one particularly bad Airbnb experience in 2018 and an increasing interest in hotel elite status caused me to switch most of my nights to hotels instead of vacation rentals. I stayed in vacation rentals for 17 nights in 2018 and 20 nights in 2019. I only stayed in one vacation rental each in 2020 (for three nights), 2021 (for two nights) and 2022 (for two nights). And so far, I’ve only stayed in one vacation rental (for seven nights) in 2023.
On average, I paid $53 per night for vacation rentals across my six years as a digital nomad. My least expensive vacation rental was $17 per night for a private studio apartment in Da Nang, Vietnam, that I booked through Airbnb. And my most expensive vacation rental was $129 per night for a waterfront apartment in Auckland, New Zealand, through Hotels.com.
I’ll still stay in vacation rentals when they’re my best option. But I generally prefer to stay at hotels for consistency and to earn and use my elite status perks.
Related: When a vacation rental makes more sense than a hotel
259 cities in 52 countries and territories
Finally, let’s talk about destinations. Over the last six years, I’ve visited 259 cities in 52 countries and territories. Here’s a look at the number of nights I stayed in each:
1,253 nights: United States of America (including 318 nights in hotels or vacation rentals)
88 nights: Germany
69 nights: Japan
56 nights: Australia
54 nights: South Africa (including 32 nights in or near South African national parks)
36 nights: Dominican Republic
27 nights: Maldives, Thailand
24 nights: Spain
22 nights: Hong Kong, Malaysia
21 nights: New Zealand, Serbia, Vietnam
20 nights: Canada, Colombia, Italy
19 nights: India
18 nights: Netherlands, United Arab Emirates
16 nights: Singapore
14 nights: Bahamas, French Polynesia, Indonesia
13 nights: Fiji, South Korea
11 nights: Brazil, Mongolia
10 nights: China
Nine nights: Bulgaria, England, France, Pakistan
Eight nights: Bosnia and Herzegovina, Latvia, Liberia, Mexico, Sri Lanka
Seven nights: Greece, Guam
Six nights: Turkey
Five nights: Belgium, Marshall Islands
Four nights: Sweden
Three nights: Argentina, Chile
Two nights: Panama
One night: Ethiopia, Finland, Ireland, Northern Mariana Islands, Taiwan
As you can see, I would have spent the most time in the U.S. even if the coronavirus pandemic hadn’t kept me in the country for much of 2020 and 2021. And interestingly, even my most visited country outside the U.S. (Germany) accounted for just 88 nights across the last six years.
I also visited 14 other countries and territories before becoming a digital nomad. So, although I’m not striving to visit every country in the world, I’ve visited 66 different countries and territories so far. My husband and I are trying to visit a few new-to-us countries each year while also returning to some of our favorite destinations like Germany, Japan, South Africa, Australia and Hong Kong.
Related: The 18 best places to travel in 2023
Bottom line
I feel incredibly thankful for the last six years I’ve spent as a digital nomad. I’ve grown significantly as a person and content creator while traveling full-time.
And I’ve had some amazing experiences, including swimming with manta rays in French Polynesia and the Maldives, watching a sea turtle dig a nest and lay her eggs on a Florida beach, staying at some awesome resorts (Six Senses Laamu, Six Senses Yao Noi and Alila Fort Bishangarh immediately come to mind), and overnighting in second-class hard bunks on a Trans-Mongolian train.
But it’s not these epic experiences that keep me on the road. After all, I could enjoy many of these experiences on vacation. Instead, the daily things like being surrounded by languages I don’t know, enjoying delicious local foods and exploring new cities and neighborhoods on foot keep me attached to the digital nomad lifestyle.
Financial markets are still grappling with the resignation of the White House’s top economic adviser, Gary Cohn. A strong reading in the ADP employment report is also making the rounds. Right now, though, mortgage rates are down a little as we approach the halfway point of the week. Read on for more details.
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Market Outlook 3.5.18 from Total Mortgage on Vimeo.
Where are mortgage rates going?
Mortgage rates move lower
We’re hunkering down here in CT as another snow storm takes hold, but there’s still a lot of news out today that could impact the direction of current mortgage rates.
Gary Cohn Resigns from White House
The rumors were true, as President Trump’s top economic adviser, Gary Cohn, resigned yesterday after losing the battle on aluminum and steel tariffs.
The departure for Cohn has left many financial market participants concerned that the likelihood of a trade war has now jumped. Cohn, who was a former Goldman Sachs executive, was fairly well liked by investors and gave them a certain amount of confidence with the positions he would take on taxes and regulations.
With him gone, the markets are now left to deal with the possibility of more protectionist policies from President Trump.
Labor Market Heating Up?
The ADP employment report for February is showing a very strong headline reading of 235,000. That’s 30,000 above the consensus reading that analysts came up with.
Investors always keep their eye on the ADP employment report as it’s kind of the appetizer to the main course meal of the Labor Department’s Employment Situation report on Friday morning.
You can never really have to much confidence that the ADP and Labor Department’s readings will match up, though, as they often come in with fairly disparate readings. Still, today’s report has bolstered investor interest in Friday’s report.
Treasury Yields Down
The yield on the 10-year Treasury note (which is the best market indicator of where mortgage rates are going) is down almost four basis points today.
Mortgage rates typically move in the same direction as the 10-year yield, so rates are on the decline today. For the majority of 2018, we’ve seen the 10-year yield steadily rise, but it’s been holding between a fairly tight range of 2.85%-2.90% for the past couple of weeks.
The average rate on the 30-year fixed rate mortgage (according to the Freddie Mac Primary Mortgage Market Survey), has continued to rise every week this year. The pace has slowed in recent weeks, but it has risen. This week’s report will get released tomorrow at 10:00am sharp.
Rate/Float Recommendation
Take action soon to try and get the best rate
Mortgage rates are on the rise–it’s no secret. If we get a strong headline reading in the monthly jobs report on Friday, that would almost certainly cause rates to jump. Even if we don’t, the long-term projection remains for mortgage rates to move significantly higher.
Learn what you can do to get the best interest rate possible.
We’re talking about potentially another fifty basis points by the time 2018 is all said and done. If you want to reduce your risk of paying more with a higher interest rate, then you should try to lock in a mortgage rate sooner rather than later. At the very least, you should contact a mortgage professional and figure out how your personal factors impact what you should do.
Today’s economic data:
Fedspeak
New York Fed President William Dudley at 7:30am and 8:20am
Atlanta Fed President Raphael Bostic at 8:00am
ADP Employment Report
The ADP employment report showed that 235,000 jobs were added to the U.S. economy in February.
International Trade
The nation’s trade deficit widened to $56.6 billion in January.
Productivity and Costs
Productivity got bumped up slightly in the fourth quarter from a tenth of a point decline to no change. Unit labor costs are now at 2.5%.
EIA Petroleum Status Report
Beige Book
The Federal Reserve’s Beige Book, which gives anecdotal evidence about the state of the economy in the various Fed regions, will get released today at 2:00pm.
Notable events this week:
Monday:
PMI Services Index
ISM Non-Mfg Index
Fedspeak
Tuesday:
Fedspeak
Factory Orders
Wednesday:
Fedspeak
ADP Employment Report
International Trade
Productivity and Costs
EIA Petroleum Status Report
Beige Book
Thursday:
Jobless Claims
Friday:
Employment Situation for February
Fedspeak
*Terms and conditions apply.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.