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Apache is functioning normally

Apache is functioning normally

I can’t wait to curl up on the couch with a book and a cozy blanket once the weather cools down! I don’t do a lot of seasonal decorating, but I am looking forward to incorporating a few fall touches throughout our home. I love decorating our front porch with lots of mums and and adding a few things in each room to bring some autumn vibes inside! I rounded up some of the best Target fall home decor finds that are a simple and affordable way to refresh your home for fall.

Grid Knit Throw Blanket // Wreath // Woven Pumpkin // Stoneware Crock // Wicker Tray // Ceramic Table Lamp // Octagon Doormat // Herringbone Throw Blankets // Plaid Accent Rug // Ceramic Vase // Woven Storage Bench // Block Print Throw Pillow // Linen Throw Pillow

How cute are these $5 woven mini pumpkins?! They’re the perfect understated nod to the season. Arrange them on an entry console, coffee table, or dining table for a simple fall touch. They also make a great addition to any fall tablescape! Bringing in accents in warm earthy tones like burgundy, rustic orange, and soft browns is an easy way to make your home feel more autumnal. Elevate your favorite reading nook with a few textured pillows on your couch and a plush throw to create a cozy spot you’ll love to sit and wind down in with a good book or needlepoint project.

And of course you can’t forget the front porch. Like I mentioned earlier I love giving our front porch a fall refresh by adding mums along our front steps. You can also add a seasonal wreath like this one to your front door and a simple doormat to add that touch of warmth to your front porch without going too cheesy.

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Source: carlyriordan.com

Apache is functioning normally

Apache is functioning normally

Data Mining, Digital Lending, Real Estate Database, Servicing Products; Conventional Conforming Program Shifts

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Data Mining, Digital Lending, Real Estate Database, Servicing Products; Conventional Conforming Program Shifts

By:
Rob Chrisman

49 Min, 7 Secs ago

As if lenders and vendors don’t have enough other stuff to worry about, the budgetary standoff in the U.S. doesn’t look like it will abate soon, raising the likelihood of the first government shutdown since 2019. Current funding for federal operations will end on October 1 unless a deal is reached or the proverbial can kicked down the road. Thousands of federal workers might be furloughed without pay. Sure it will be temporary, and its wider impact will likely be limited, but still even talking about it is lousy. According to Morgan Stanley, the last 20 government shutdowns that occurred since 1976 “appear to have had limited impact on the economy.” As for bond prices, a shutdown may cause some “temporary instability”, but this is not a given. There is talk of a short-term Continuing Resolution (CR) providing funding until later this year, but federal agencies, including HUD and Treasury, will cease to function normally. The National Flood Insurance Program (NFIP) authorities also expire on October 1st. The Mortgage Bankers Association created a guide outlining how HUD (including FHA and Ginnie Mae), VA, and USDA would be directly affected by the furlough of government employees and the curtailment of agency operations. (Today’s podcast can be found here and this week’s is sponsored by Built. Built is powering smarter and faster money movement for the entire construction and real estate ecosystem, all while reducing risk. Hear an interview with Servbank’s Bryan Crofford on how companies can best invest in employees, promoting longevity and success.)

Lender and Broker Software, Programs, and Services

Life can change on a dime, and sometimes even the most prepared borrowers end up facing financial hardships they never would have imagined. Forward-thinking credit unions are preparing today, so they can be there for their members when they need help the most. It’s why Mission Federal Credit Union implemented the MSP® loan servicing system, to not only improve their own efficiencies, but better serve their members who are facing financial difficulty. Are you ready to join Mission Federal Credit Union by enhancing your technology to be there for homeowners in life’s most challenging moments? Learn more about MSP today.

One thing that you can always count on in the mortgage space, is that regulatory requirements are always changing. This is why it’s critical for Banks or Mortgage Servicers to stay vigilant with comprehensive Compliance Testing and Monitoring to mitigate exposure and minimize risk. At the MBA Annual in Philadelphia, PA, Servbank’s Shayna Arrington will be helping us all do exactly that. Watch her moderate the panel, “Today’s Top Regulatory Issues” on Tuesday, October 17 at 1:30 PM, on 200 Level, Exhibit Hall E. Want to dive deeper into how Servbank can partner with you? Servbank will have a meeting space at the W Philadelphia on 10/16 and 10/17. Schedule some time to meet with them here: [email protected] or learn more at www.servbank.com.

One-Time Close (OTC) Volume Soars to record highs at AFR Wholesale® (AFR)! While housing inventory is still at an all-time low, OTC loans have witnessed an unprecedented surge in volume! In August, AFR closed more One-Time Close loans in one month than at any other time in their long history of offering the product. Homebuyers are increasingly drawn to the convenience and cost-saving benefits of OTC loans, as they streamline the construction process, reduce paperwork, and offer more favorable terms. This surge in OTC loans at AFR is not just a testament to its effectiveness but also an indicator of the outstanding clients and partners of AFR. Breaking news: As a thank you to their clients, AFR has also brought back FHA OTC on site-built homes!! This long-awaited product is back for partners of AFR to utilize now. Partner Today or contact AFR, email or call 1-800-375-6071.

One of the biggest questions for LOs in a down market is “How do I find more agent partners?” The answer is MMI. To find the right agent partners, you need the right data. MMI has assembled the industry’s most comprehensive real estate and mortgage transaction database which is leveraged by thousands of mortgage professionals daily. Using MMI’s database, LOs can easily search & filter, find an agent and at the click of a button, push the info to a CRM like Bonzo. Sign up for a demo today to see why a majority of the top 25 lenders rely on MMI.

Free eBook: Market-Proof: How to Build a Flexible Lending Business Resilient in Upcycles & Downturns. The exaggerated upcycles and downturns of the past few years underscore just how crucial it is for lenders to build resilience and flexibility into their businesses. To overcome today’s challenges, lenders need to hone their lending process at each step. In this new eBook, Maxwell provides 12 tips from industry veterans to help you optimize your mortgage process from loan application to the secondary market. You’ll get insight from exclusive interviews with industry veterans on how to increase efficiency, access economic scale, and become resilient to market volatility like never before. Click here to download Maxwell’s new eBook “Market-Proof: How to Build a Flexible Lending Business Resilient in Upcycles & Downturns.”

The transformation from paper to digital processes offers substantial benefits, including cost reduction and improved borrower experiences. Most lenders are in a hybrid phase, blending paper and digital processes. To navigate this ongoing change and ongoing innovations in the digital lending space, lenders should consider embracing five best practices: create a successful strategy, prioritize borrower experience, ensure compliance, harness technology, and stay adaptable in the evolving digital landscape. Tackle the future of lending by staying informed and proactive. For deeper insights into this digital lending revolution and actionable steps, read the full article.

“Heading to Vegas? The Total Expert team is in full force at the Digital Mortgage conference in Las Vegas! There are three ways to interact with us. The first is to stop by booth #501 to get your Customer Intelligence ROI report and learn how you could increase funded loan volume by 20 percent. You can watch a LIVE demo of Total Expert on Tuesday 9/26. Lastly, catch our Founder & CEO Joe Welu for a panel discussion: The Customer Data Goldmine Goes Way Beyond Credit Triggers on Wednesday 9/27.Schedule time to meet with the Total Expert team in Vegas.”

Freddie Mac, Fannie Mae, Conventional Conforming News

The Federal Housing Finance Agency (FHFA) released its second quarter 2023 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 47,370 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,818,471 since the start of conservatorships in September 2008. View the News Release

FHFA-OIG released two reports: Within the Federal Housing Finance Agency (FHFA), the Division of Federal Home Loan Bank Regulation (DBR) is responsible for supervising the Federal Home Loan Bank (FHLBank) System to ensure the safe and sound operation of the FHLBanks. In response to market disruptions, DBR adapted the scope of its Federal Home Loan Bank Supervisory Activities in 2023.

Regulated entities have not been immune to the trends affecting the labor market over the past few years. Some of the regulated entities experienced higher attrition in 2021 and 2022, consistent with trends in the broader labor market, but one Enterprise reported that its turnover rate started declining in 2022. Read the full report, People Risk at FHFA’s Regulated Entities.

Freddie Mac will update Loan Product Advisor® (LPASM) in October to support multiple recent Single-Family Seller/Servicer Guide announcements, plus more enhancements, described in Freddie Mac October LPA Releases.

Freddie Mac Loan Selling Advisor September Updates includes the following information: Uniform Loan Delivery Dataset (ULDD) Phase 4a Updates and Phase 5 Specification, Auto Evaluate on Import Loan, New Loan Delivery Rules Supporting the Duty to Serve Credit Fee Cap, Initial Principal and Interest Payment Amount Conditionality update, Auto Re-evaluate: Improvements to Modify and Evaluate, and Enhancements to Mandatory Cash Contracting.

Leverage Fannie Mae’s new edition of Beyond the Guide to help your organization build a best-in-class quality control (QC) program. Specific examples and scenarios provided can help teams understand and apply Selling Guide concepts in a way that is most impactful to their organization. A robust QC program helps strengthen loan quality ensuring a safe, sound, and resilient mortgage industry.

Fannie Mae Appraiser Update September 2023 edition focuses on dual themes of delivering high quality appraisals and understanding recent policy changes. Topics include updates to the Appraiser Independence Requirements (AIR), new options for 1004D completion, our stance on 3D printed homes, and more.

Fannie Mae posted the September Appraiser Quality Monitoring (AQM) list. Read the AQM FAQs.

Chris Whalen writes, “Our short take on the future of the GSEs (Government Sponsored Enterprises) looks a lot like the character played by Bruce Willis in the 1995 Terry Gilliam film, ‘Twelve Monkeys.’ Imagine if the GSEs were released from conservatorship, but then were immediately designated as a ‘systemically important financial institution’ (SIFI) by the FSOC. How do you think that would work for private investors? What would happen to the guarantee fees?”

Pennymac Conventional LLPAs updates effective for Best Efforts Commitments: Pennymac Announcement 23-58 replacement of ‘Purchase Special’ LLPA Grid with new ‘Area Median Income Adjustments’ LLPA Grid. Pennymac Announcement 23-59 introduces new ‘Investment Property’ LLPA to the ‘LLPAs by Product Feature for All Eligible Loans’ LLPA Grid. Pennymac Announcement 23-60 updates values for the ‘2nd Home Additional’ LLPA on the ‘LLPAs by Product Feature for All Eligible Loans’ LLPA Grid.

Pennymac is aligning with the FHFA based updated project review and eligibility requirements announced in Fannie Mae SEL 2023-06 and Freddie Mac Bulletin 2023-15, with the exception of any reference to co-op projects. View Announcement 23-61: GSE Updated Condo Project Review Requirements

Citizens Correspondent National Bulletin 2023-16 provides updates on the following topics: Conventional Conforming Products, Review requirements for condominium eligibility – DU and LPA, Gifts and Gifts of Equity – DU, 3D printed homes, Trust Income – DU, USDA-RD Product, Fiscal Year 2024 Conditional Commitment Notice, All Products, Disaster Tax Filing Relief.

PHH Mortgage Corporation updated Conforming Product listings for both Delegated and Non-Delegated loans.

Pennymac announcement 23-62: Fannie Mae SEL 2023-06 Condo Project Manager Updates

Citi Correspondent Lending Bulletin 2023-08 provides Credit policy updates regarding Non-Agency Depreciating Markets list updated, Condo & Co-Op Critical Repairs, Shared Equity and Shared Appreciation, LPA Asset, and Income Modeler (AIM), Continuity of Obligation: Limited Cash-Out, Hazard Insurance Update: Effective Date, and Taxpayer First Act.

On September 6, 2023, Fannie Mae and Freddie Mac announced Selling Guide policy changes addressing multiple topics in Fannie Mae SEL-2023-08 and Freddie Mac Bulletin 2023-18.

AmeriHome Mortgage accepts all revisions, view Product Announcement 20230910-CL for details.

Capital Markets

Ahead of today’s $48 billion 2-year Treasury auction, headlines to open the week revolved around increases in oil prices that’s evidence of inflation’s stickiness, Chinese developer Evergrande calling off talks with creditors as it appears headed for bankruptcy, and reaction to hawkish Fed remarks which is forcing yet another reprice from markets. There is growing sentiment that central banks across the globe aren’t done hiking rates, and Treasury yields trended higher to open the week as a result. With the calendar turning to fall, the economy is facing a few headwinds such as the run up in oil prices, student loan payment resumption, an expanding auto workers strike, and a partial shutdown of the U.S. government.

Every lender knows that mortgage rates remain above 7 percent, and housing data released over the last week highlighted another decline in builder sentiment. Housing starts fell 11.3 percent to a 1.25-million-unit pace in August. Existing home sales were down 0.7 percent in August as low inventory, high prices, and high mortgage rates continue to weigh on sales. Hoping for lower interest rates? A recession would likely mean lower interest rates, but workers with stable jobs (most individuals) would want to take advantage of low interest rates, causing home prices to rise faster. Initial jobless claims fell to 201k for the week ending September 16, which was the lowest weekly reading since January. The JOLTS report indicated that the demand for new workers is moderating somewhat however, significant layoffs are not on the horizon.

Today’s calendar includes the Philadelphia Fed non-manufacturing surveys for September, Redbook same store sales, July house price indexes from S&P Case-Shiller and FHFA, September consumer confidence, August new home sales, Richmond Fed manufacturing for September, Dallas Fed Texas services for September, the aforementioned Treasury auction of $48 billion 2-year notes, and remarks from Fed Governor Bowman. We begin Tuesday with Agency MBS prices a few ticks (32nds) better and the 10-year yielding 4.50 after closing yesterday at 4.54 percent. The 2-year is up at 5.12.

Employment

“At Fairway Independent Mortgage Corporation, customer service is a way of life. #FairwayNation mortgage loan officers are dedicated to finding great rates and loan options for our customers while offering some of the fastest turn times in the industry. Our goal is to act as a trusted mortgage advisor, providing highly personalized service and helping you through every step of the loan process, from application to closing and beyond.”

Logan Finance Corporation, a national Non-QM mortgage lender, is excited to welcome Aaron Samples to Logan’s Executive Leadership Team as Chief Revenue Officer. To learn more about why Aaron joined one of the fastest Non-QM lenders in the nation, contact Randy Viars.

The FHA has a job opening for a Senior Underwriter: Job Announcement Number 23-HUD-2915-P. Job duties include assisting the Branch Chief in monitoring the status of goal accomplishment. Advise the Chief of potential problems in attainment of goals and objectives. Research required underwriting procedures and techniques. Serve as an expert-level resource within his/her Office on matters relating to Underwriting and other Direct Endorsement issues.

Don’t forget that private mortgage insurance companies are hiring: MGIC, National MI, Arch MI, Radian, Essent, and Enact (in no particular order). And while’s we’re at it, Fannie Mae and Freddie Mac. And my cat Myrtle’s friend the CFPB.

Dovenmuehle Mortgage, Inc. announced that Robert Howerton has joined the organization as Chief Information Officer where he will be maintaining and expanding Dovenmuehle’s current information technology (IT) infrastructure.

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

Apache is functioning normally

Apache is functioning normally

Ready to buy a home? Whether you’ve already found your dream home or you’re just starting the process, one thing’s for sure—you’ll probably need a home loan. But before you start looking into mortgages, you might need to give your credit score a little evaluation. You need a decent score to get a decent mortgage, but what’s the minimum credit score for a home loan?

The short answer? It depends on a lot of things. If you’re ready to start looking for home loans, but aren’t sure if your score is up to par, we’re to help. Keep reading to learn if your credit score is mortgage-ready.

A Quick Look at Minimum Credit Scores for Mortgages

Mortgages are complex forms of financing, so a lot of factors come into play when you’re applying. Find out more about the minimum credit requirements for these types of loans—and why your credit score even matters—below.

Why Does Your Credit Score Matter for a Mortgage Loan?

Your credit history tells a financial story about you. It lets mortgage lenders better understand whether you’re reliable, how likely you are to pay off your debt and whether your debt-to-income ratio is low enough to allow you to cover your current debt obligations in addition to a new mortgage payment.

If you have bad credit, you may look like a risky investment to potential lenders and you’ll be less likely to get the approval. Or, if you do get approved, you may be required to pay higher interest rates than individuals with a better credit score might pay.

Luckily, you can still get approved for a home loan even with a lower-than-average score. That’s because your credit score is critical, but it’s not the only factor lenders consider. Plus, different types of loans come with different requirements, so you don’t always need a good credit score to qualify.

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What Credit Score Do You Need to Get a Mortgage?

As stated above, the required credit score really depends on what type of loan you’re looking at. Let’s break it down a bit, defining these types of loans, so you can understand more about mortgages and some of your options.

Credit Requirements for Conventional Mortgage Loans

Conventional mortgage loans are not backed by a government entity. They’re offered via private lenders, including banks and mortgage companies. Typically, you need good credit to qualify for a conventional mortgage. For this purpose, that’s considered to be 640 or higher.

However, if you fall slightly short of that mark, you might still be able to find a lender if your payment history, debt-to-income ratio and other factors are positive. Ultimately, lenders need to know that you’re likely to pay your mortgage as agreed and that you also have the resources to do so.

Credit Requirements for Government-Backed Mortgage Loans

Credit requirements for government-backed loans get a bit more complex. Since these loans are all or partially backed by federal government agencies, lenders may approve you even if you don’t have good credit. However, that doesn’t mean everyone gets approved. Here are some basics about eligibility and minimum credit score requirements for various government-backed mortgage types.

Credit Score Requirements for USDA Loans

These loans are partially backed by the federal government and are available to individuals buying qualifying suburban or rural homes. USDA loan lenders must conduct a thorough review of an applicant’s credit profile. Here are just some of the rules they must apply:

  • If three credit scores are present, they take the middle one. If two credit scores are present, they take the lowest one. If only one or no credit score is present, the lender must do a credit analysis and obtain alternate credit verification.
  • The credit score must be based on at least two trade lines (open accounts) that were active at least 12 of the past 24 months. In short, if you don’t have much credit or you haven’t dealt in credit for years, you may have a challenge getting approved.
  • There must be no significant delinquencies or collection accounts.

Credit Score Requirements for VA Loans

VA loans are available to eligible veterans and their families and are backed by the Department of Veterans Affairs. They don’t require a down payment or private mortgage insurance. The VA does not establish minimum credit score requirements and requires lenders to conduct a comprehensive credit analysis.

VA loans don’t have maximum debt ratios, but the lender has to provide compensating factors that prove they can pay the mortgage if their debt-to-income ratio is more than 41%. Veterans who borrow without a down payment may be limited to mortgages of $453,100 or less.

Credit Score Requirements for FHA Loans

FHA loans are backed by the Federal Housing Administration and are seen as a lower risk by lenders because they’re government-backed loans. This option is a common choice for anyone who qualifies as a first-time home buyer because of its relatively low minimum credit score requirements.

Credit score requirements for FHA loans are:

  • 580 or higher for maximum financing—this means you wouldn’t need a down payment or could have a very small down payment, depending on other factors.
  • 500 or higher for partial financing—this means you’d need at least some down payment orwould need to buy a house for less than it was worth.

You can’t get approved for an FHA loan with a credit score less than 500. Other factors do impact approval, such as your payment history, income and debt level.

Do You Need Good Credit to Refinance Your Mortgage?

A refinance is still a mortgage, so yes, you typically need good credit to get approved for one. Many of the minimum credit scores for home loans above apply to refi loans too. One benefit you get when refinancing is that you may owe less than your house is worth. That could reduce the need for down payments and even help you access better interest rates because the lender has less risk in making the loan.

Has COVID-19 Impacted Mortgage Credit Requirements?

Yes, COVID-19 has impacted minimum credit scores for mortgages. These changes are typically made by each bank. In the early months of the pandemic, uncertainty led many banks to drastically reduce home loans or even put them on hold. For example, in April 2020, JPMorgan Chase changed credit requirements to at least a 700 credit score with a 20% down payment.

However, falling interest rates and improved economic factors caused many banks to loosen requirements in the later months of the pandemic and into 2021. Ultimately, you’ll need to do your research when you’re ready to apply for a mortgage loan to find out what options you might qualify for.

What You Can Do Now

First, check your credit score. You might consider signing up for ExtraCredit. You’ll get access to 28 of your FICO scores—and you’ll see the credit scores that mortgage lenders see. ExtraCredit also has features such as Build It to help you positively impact your credit score if you need to boost it before applying for a mortgage.

Once you have a credit score that’s above 640—or, even more optimally, above 700—you can start shopping for mortgage loans and good rates. And remember that if you do get approved, your credit score also impacts your interest rates. Always ensure you know what your mortgage is going to cost you each month and over the life of the loan.

Source: credit.com

Apache is functioning normally

Apache is functioning normally

A hard credit inquiry is when a credit card issuer or another lender reviews a credit report as part of your credit application. Their request to review your credit will be shown as a hard inquiry on your credit report and will affect your credit score.

Let’s say you’re looking to apply for a new credit card. Whether you want to expand your available credit, create a credit mix, or simply apply for a credit card online with your desired rewards, you’ll often encounter a hard inquiry.

A hard credit inquiry—or a hard credit check—is a natural part of the credit card application process. It happens when the lender or bank associated with your credit card company checks your credit report to see if you are eligible for acceptance.

What Are Hard Inquiries?

Hard inquiries—or hard credit checks—occur whenever a lender or bank accesses your credit account. The credit bureaus log the activity, recording the date and the name of the company or entity that accesses it.

Hard inquiries refer to when a lender accesses your credit report to evaluate your merit as a borrower. In other words, hard inquiries happen when lenders look at the information in your report to decide whether to approve or deny your credit card application.

How Do Hard Inquiries Impact Your Credit?

Hard inquiries aren’t the most impactful thing that affects your credit score, but they are one of the five major factors that make up your credit score. That’s because having many hard inquiries on your account looks like you’re chasing credit. Lenders don’t want to see that behavior from potential borrowers as it reduces their credibility.

Here are the five factors that impact your credit score:

  • Payment history accounts for around 35% of your credit score. This factor is whether you pay your bills on time and as agreed upon.
  • Credit utilization accounts for around 30%. This reports how much of your available revolving credit limit you’re actively using.
  • Credit age accounts for around 15% of your score. This is how long you’ve had credit and the age of your oldest accounts.
  • Credit mix makes up around 10% of your credit score. Creditors want to see that you can manage different types of accounts, such as revolving and installment accounts.
  • Hard inquiries affect around 10% of your score. This is the number of recent hard inquiries on your report.

Hard Inquiries vs. Soft Inquiries

Not all inquiries that show up on your credit report impact your score. Only those that evaluate your financial creditworthiness do—these are hard credit checks.

Soft inquiries, which are purely informational, have little to do with credit and don’t have the same impact. They’re also not usually visible to lenders or banks—only you.

Hard inquiries

Soft Inquiries

Affect your credit score

Don’t affect your credit score

Count against your credit score for 1 year

Appear only to you on your credit report

Occur during the approval process

Occur during pre-approval processes

Happen when you’re actively searching for credit

Happen during noncredit screenings and background checks

Require your authorization

Do not require authorization

Examples of Hard Inquiries

Hard inquiries happen when you apply for a line of credit that will impact your financial health. Hard credit checks will affect your credit score and stay on your credit report for a year or two, so having too many of them in a short period may hurt you in the long run.

Credit card companies, car dealerships, banks, lenders, and others may perform a hard credit check only after your written approval—you will always know when a hard credit check will happen.

Examples of things that will require hard inquiries include:

Examples of Soft Inquiries

Soft inquiries typically happen for nonfinancial inquiries and don’t affect your credit score. Typically, only you can see the soft credit checks on your report.  Soft credit checks also don’t need your permission to happen. Though employers will request permission for background checks, creditors can run a soft credit pull to prequalify you for marketing purposes. Note that you do have the opportunity to opt out of those soft checks, though.

Soft inquiries happen when:

  • Employers run background checks
  • Credit card companies do a pre-approval process
  • Utility companies screen you
  • You check your credit report

Disputing Hard Credit Inquiries

You should always review the hard inquiries on your credit report to ensure that you authorized them. If you see something on your credit report that you didn’t authorize or approve, you can dispute your hard inquiry by following these steps:

  1. Reach out to your current lenders and confirm that they didn’t create a hard credit inquiry for your credit.
  2. Research the creditor that authorized the hard inquiry. Sometimes, they will remove the inquiry from your report.
  3. Open a formal dispute with the credit bureaus. You will normally do this by filing a dispute on an online platform.

You will generally need to wait around 30 days (give or take) before receiving a reply about your hard inquiry dispute. When the credit bureaus reach a conclusion, they will remove the hard inquiry from your credit report.

Frequently Asked Questions

How Long Do Hard Inquiries Last?

According to Experian®, hard inquiries remain on your credit report for 25 months. However, they only tend to impact your credit score in the first 12 months.

How much a hard inquiry affects your credit depends on various factors, including what your credit score was to begin with. Experian notes that a hard inquiry can bring your score down 5-10 points on average. The drop might be even less if you have excellent credit and no other issues.

How Many Hard Credit Inquiries Is Too Many?

There’s no set number of inquiries that are too many. If you suddenly have a lot of inquiries, it can look bad to potential creditors. And if you’re losing up to 10 points for each one, you could drop from excellent or good credit to fair or poor credit with just five or more inquiries.

Spacing out the inquiries and ensuring that your credit report doesn’t take a hit can help minimize these issues. It also gives your score time to recover before another inquiry.

Are Hard Inquiries Bad?

Not necessarily. They’re simply an aspect of how credit reporting works—it’s actually good that this information gets recorded. Knowing who accessed your personal credit information and why can help keep you informed on your credit application history.

That said, hard inquiries aren’t neutral. They can impact your credit, so you want to keep them to a minimal number when possible.

What Triggers a Hard Inquiry?

Any time you apply for credit-related accounts with a lender, you will trigger a hard inquiry that will appear on your credit report. It’s important to remember that you will always authorize hard credit checks, so be mindful of how you space them out and what loans you need at what times.

Minimize Your Hard Inquiries

So, how do you reduce the impact of hard inquiries on your credit score? Nowadays, it can be challenging to go through life without ever applying for credit. But you can follow the steps below to reduce how hard inquiries impact your score:

  • Don’t spread out loan shopping: Credit scoring models know that you’ll want to shop around for the best rates. Because of that, multiple applications for credit during short periods can appear as a single inquiry on your credit report.
  • Don’t apply without confidence: Understand your credit score and what type of credit you are likely to qualify for, and only apply when you need the credit. Otherwise, you’ll rack up hard inquiries for no reason.
  • Manage other aspects of your score responsibly: Make payments on time, keep your credit utilization low, and manage multiple types of accounts well. These all have more impact on your credit score than hard inquiries.
  • Keep tabs on your credit report: The last step in minimizing hard inquiries is tracking your report and score. Check your credit regularly to see where you stand and whether potential mistakes could bring down your score.

You can check your Vantage 3.0 score with Credit.com’s free Credit Report Card or get many versions of your FICO® Score with ExtraCredit®. Neither of these options constitutes a hard inquiry, so using them won’t hurt your credit.

Source: credit.com

Apache is functioning normally

Apache is functioning normally

So, you’re considering purchasing a home? There’s a lot to think about—there’s lots of mortgage buzzwords and industry lingo to decipher. It can all be very overwhelming, especially for first-time home buyers.

One of the main decisions you need to make regarding your mortgage is selecting a fixed-rate or an adjustable-rate mortgage. Fixed-rate mortgages charge the same fixed interest rate for the duration of the loan. Adjustable-rate mortgages, on the other hand, have rates that fluctuate over time.

It’s important to understand how each type of mortgage works and how interest rates can impact your mortgage payments. Keep reading to learn more.

Key Takeaways

  • Interest rates for fixed-rate mortgages remain constant over the life of the loan.
  • ARM mortgages start with a lower fixed-rate period before switching to variable rates that are assessed regularly.
  • Deciding if an ARM or fixed-rate mortgage is right for you depends on your specific situation.

In This Piece

How Adjustable-Rate Mortgages (ARM) Work

Interest rates with an adjustable-rate mortgage, also referred to as an ARM, are variable—meaning they can change over time. Typically, ARMs start with a fixed-rate period, such as one, three, five, seven, or 10 years. After this initial period, interest rates adjust annually based on the current index. Your mortgage agreement details these terms.

When shopping for an ARM, you’ll notice that many types are listed as a ratio, such as 1/1, 3/1, 5/1, 7/1, 10/1 and more. The first number represents the number of years the mortgage will remain at the fixed-rate amount. In the example above, this would be one, three, five, seven, or 10 years.

The second number indicates how often the rates are adjusted after the initial fixed-rate phase is over. In most cases, this number is one, to represent one year. This means that rates are adjusted annually for most adjustable-rate loans.

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Fortunately, many ARM agreements also include a cap for interest rates. For instance, one of the most common types of ARM is 5/1 with a 2/6 cap. This notation means the mortgage has a five-year fixed-rate period, after which the rates will reset every year. Interest rates, however, can’t increase more than 2% in any given year and not more than 6% in total over the life of the mortgage.

During the initial fixed-rate period of your mortgage, your monthly payments remain exactly the same. However, once this period is over, your monthly mortgage payments are likely to change from year to year depending on interest rates.

How Fixed-Rate Mortgages Work

Unlike an adjustable-rate mortgage, interest rates with a fixed-rate mortgage remain constant throughout the life of the mortgage. One of the best benefits of a fixed-rate mortgage is that your monthly payments remain exactly the same until the loan is paid in full. However, the amount of principal paid each month may fluctuate.

A disadvantage of fixed-rate mortgages is the potential for interest rates to decrease dramatically over the course of the loan. However, you can choose to refinance your mortgage, if you qualify, to take advantage of these lower rates.

ARM vs. Fixed-Rate Mortgage: Example Mortgage Payments

The table below can help you better understand the difference between mortgage payments for ARMs and fixed-rate loans.

 Type of loan 5/1 ARM 30-year Fixed-Rate Loan
Mortgage amount $400,000 $400,000
Interest rates 6.86% 7.66%
Monthly payments $2,623.71 per month during the initial five-year fixed-rate period (payments will adjust annually thereafter) $2,840.81

As you can see, initial interest rates are typically much lower for ARMs than for fixed-rate loans. However, after this initial phase, these rates can increase, which will also increase monthly payments. Use our convenient mortgage calculator to determine how much you can expect your monthly payments to be per month for an ARM and a fixed-rate mortgage.  

Is an ARM or Fixed-Rate Mortgage Better?

There are advantages and disadvantages to both adjustable-rate and fixed-rate mortgages. For example, fixed-rate mortgages are easier to budget because monthly payments remain the same throughout the life of the mortgage. This can be a huge advantage for homeowners who are concerned about increasing rates.

However, if interest rates decline over the course of your loan, you’ll be stuck paying a higher amount. It may be possible to refinance your mortgage to take advantage of these lower rates. However, you must still have the right credit score to buy a home.

On the other hand, a great advantage of ARMs is that they typically offer lower initial interest rates. Oftentimes, homeowners have lower monthly payments during this initial phase vs. those opting for fixed-rate loans. The disadvantage is that interest rates could spike during the fixed-rate phase. If this happens, homeowners could face significantly higher mortgage payments at the end of the initial fixed-rate period.

Why Would You Choose an Adjustable Rate Over a Fixed Rate?

Adjustable-rate mortgages are an attractive offer for many first-time home buyers. First, they offer lower interest rates for the first several years, which results in lower monthly payments. Secondly, many first-time home buyers only plan to stay in their homes for several years before upgrading to larger houses.

In these cases, an ARM loan can be an ideal option because they’re likely to move before the end of the fixed-rate phase or soon after. This option allows them to enjoy lower interest rates until they’re ready to upgrade.

Tips for Choosing

Ultimately, selecting an ARM or a fixed-rate mortgage is a personal decision that depends on your specific situation. However, if you’re trying to choose between these two options, here are some factors to consider.

How Long Will You Be in the Home?

The first thing you want to consider is how long you plan to stay in your new home. If your plans are to remain in the home for only several years, an ARM may be the best option. For instance, if you plan to stay in your home for less than seven years, a 7/1 ARM will allow you to take advantage of lower interest rates until you sell the home.

If, on the other hand, this is your forever home, and you have no plans on moving in the near future, a fixed-rate mortgage that offers consistent monthly payments may be the better option.

How Frequently Does the ARM Adjust?

You also want to check the details of the loan and determine how often ARM rates will adjust. For example, a 7/1 ARM offers 7 years of ARM rates at the fixed rate, then the interest rates readjust every year afterward. Rates on a 7/6 ARM will readjust every six months. If this is too much fluctuation for your budget, you may want to consider a fixed-rate mortgage.

What Are Interest Rates Like?

Another thing you want to consider is the current state of interest rates and predictions for future increases or decreases. When interest rates are low, investing in a fixed-rate mortgage can help you lock in these lower rates. Alternatively, when interest rates are high or rising, it may make more sense to select an ARM, with hopes that these rates will come back down before the initial fixed-rate period ends.

How Much Can You Afford Now?

ARMs typically offer lower monthly payments during the first few years. This can be an attractive option for those just beginning their careers and planning to increase their earnings in the future. An adjustable-rate mortgage allows you to take advantage of lower monthly payments now and risk possible higher payments when you have more wealth.

Can You Afford a Payment Increase?

It’s important to recognize that as interest rates with an ARM adjust, so will your monthly payments. Make sure you can budget these shifts. Even if ARM caps are in place, monthly payments can increase quickly, especially with a six-month adjustment frequency. If you’re uncertain of your ability to maintain higher monthly payments, you may want to choose a fixed-rate mortgage.

Understand Your Options

Fixed-rate and adjustable-rate mortgages are both good options for home buyers. The important thing is to understand the difference between these two choices and to evaluate your specific situation. When you factor in these issues, you can better determine which option is right for you.

Source: credit.com

Apache is functioning normally

Apache is functioning normally

Mortgage rates actually recovered a bit on Friday as the underlying bond market experienced a modest correction after spiking to the weakest levels in more than a decade over the past 2 days.  Despite the improvement, mortgages are also still near multi-decade highs.  Why is this the case when the Fed didn’t hike rates this week?

This counterintuitive movement is fairly common when it comes to the 8 Fed meetings each year.  Rates have fallen on several occasions when the Fed hiked throughout this rate hike cycle.  There are several reasons this can happen.  Some are complicated, but two of the simplest reasons are all we need this time around. 

First off, the Fed only has 8 scheduled opportunities to update rates every year while the bond market has thousands of opportunities every day. Because of that, a Fed rate hike is often just a lagging development that the market has already priced in.  The Fed actually tries to avoid surprising the market when it comes to hikes/cuts.  Via speeches and press conferences, it effectively preps the market for potential changes. 

The market can trade these expectations in a variety of ways.  The most direct is via Fed Funds Futures, which give traders a way to bet on the level of the Fed Funds Rate on any given month well into the future. Traders haven’t budged in their expectation of this week’s meeting resulting in a 5.375% Fed Funds Rate for months!

In other words, when the Fed held rates steady this week, it wasn’t a surprise to anyone and the market was already priced for it.  We can thus rule out the rate decision as the catalyst for the mortgage rate volatility and look elsewhere.  We won’t need to look far.

On 4 out of the 8 Fed announcements per year, and at the exact same moment as the Fed Funds Rate decision, the Fed also releases a “summary of economic projections.”  Among these forecasts is a dot plot showing where each Fed member sees the Fed Funds Rate at the end of the next few years.  These so-called “dots” have become a big deal for financial markets despite Fed Chair Powell’s requests to avoid reading too much into them.

The market doesn’t care about the dots due to some amazing track record of accuracy from the Fed.  Rather, they simply offer a very detailed update as to how the Fed’s decision-making process is evolving  when it comes to future rate hikes/cuts.  If the average Fed member expected rates to be almost 1% lower by the end of 2024 and now only sees them being 0.25% lower, that would tell the market a lot about the Fed’s intention to keep rates higher for longer, all other things being equal.

That is exactly what happened.

Markets expected the dots to rise, but not by this much.  Neither stocks nor bonds (aka rates) were happy about it.

Traders had already been pricing in a “higher for longer” path for the Fed Funds rate based on recent economic data.  In the bigger picture, this week’s revelation didn’t materially alter the trend in those expectations, but it did give them a noticeable bump.  Here’s how the market’s outlook for the Fed Funds Rate in September 2024 has been evolving.

The “bump” just happened to hit when rates were already near long-term highs.  The average 30yr fixed rate didn’t technically break above the highest level seen last month, but it came within 0.01% based on the more timely data from Mortgage News Daily.  We expect Freddie’s weekly numbers will challenge multi-decade highs next week.

Why is all this happening?  In a nutshell, the Fed Funds Rate is a blunt instrument tasked with fighting inflation.  Inflation has been coming down, but it’s still high and a bit of a rebound can’t be ruled out due to things like higher fuel prices, auto worker strikes, and an adjustment in the way certain health care costs are calculated.  In addition, the Fed is not yet seeing the type of downturn in economic data that would suggest impending disinflation.  

That last point is a matter of debate as some critics say the Fed has already done enough and simply needs to give their policy more time to have an impact.  The Fed admits that this economic cycle is different than past cycles and that there’s no way to know with certainty when it’s time for a friendly shift.

Regardless of who’s right about the timing of a policy shift and whether enough has already been done, most can agree that it will be economic data that serves as the trigger for a change.  Not just any economic data will do.  The Fed and the market are both focused on several of the highest impact reports.  Most of them will be released on the first week of October.  If they take a turn for the worse, rates would likely recover.  If they continue to surprise to the upside, so will rates, unfortunately. 

Source: mortgagenewsdaily.com

Apache is functioning normally

Apache is functioning normally

Educating yourself about debt collection scams is one of the best ways to avoid them. And if fake debt collectors come calling or you suspect you’ve fallen victim to such scams, there are things you can do to protect yourself.

9 Tips for Preventing Debt Collection Scams

  • Verify the Debt Is Legitimate
  • Verify the Agency Is Legitimate
  • Check Your Credit Reports
  • Protect Your Information
  • Contact the Original Creditor
  • Understand Your Rights
  • File a Complaint
  • Contact the Credit Reporting Agencies
  • Remember Some Debt Is Legitimate

About Debt Collection Scams

The Federal Trade Commission reported that scam and fraud reports were up an unfortunate 70% from 2020 to 2021, and imposter scams were the main culprit. They accounted for $2.3 billion in losses in 2021. 

Imposter scams include any scam that involves a person or entity pretending to be someone else. That includes debt collection scams where someone pretends to be a legitimate company collecting debt from you. Here are a few things you should know about debt collector scams:

  • They can happen to anyone, and some scammers are quite sophisticated. That means it can be possible for anyone to get tricked into giving these people money.
  • You have a right to verify debts before you agree to talk about payments.
  • Doing a bit of homework and following paperwork trails can help you avoid debt collection scams. 

Keep reading to discover the steps you should take when you’re contacted by a debt collector or think you might be the target of a collection agency scam.

Verify the Debt Is Legitimate

You have the right to ask for verification of a debt when you’re contacted by a debt collector. Do this by disputing the debt in writing and asking the collection agency to send a validation letter, including the name and address of the original creditor for the debt. 

A legitimate creditor will provide you with information that includes:

  • The amount you owe
  • The name of the original creditor
  • A notice of your rights, including your right to dispute the debt

If the agency is unable or unwilling to provide this information, they are either violating your rights as a consumer or may be attempting to scam you.

Verify the Agency Is Legitimate

Avoid cash-and-go scams and other issues by verifying that the collection agency contacting you is legitimate. Here are some steps you can take to do so:

  • Ask for everything in writing. Never negotiate or make payment based solely on a phone call.
  • Research the collection agency online. Look for a legitimate website or information on sites like the Better Business Bureau to find out if the business is real.
  • Call your state attorney general’s office to find out if there are any complaints about the agency and if it can legally operate in your state.  

Check Your Credit Reports

Checking your credit reports or your free credit report card helps you understand whether you might owe a debt you didn’t know about. It also lets you see if someone has reported inaccurate information about a debt you don’t owe. When you know what’s on your credit reports and whether or not it’s accurate, fake debt collection calls can’t use that information to threaten you.

Protect Your Information

Sometimes fake debt collection callers want more than your money. They may also try to trick you into giving them enough personal information that they can steal your identity or sell the information to people who would. Protect your information by being careful what you say to these callers. Never answer questions like “Can you confirm your full name or your Social Security number” if someone calls you about a debt. If they called you, they should have the information they need to collect the debt and shouldn’t ask you to provide it.

Contact the original creditor to find out more about the debt, whether you think you owe it or not. If you do owe the debt, you may be able to negotiate a payment with the original creditor that’s less than you’d pay a debt collection agency. 

Understand Your Rights

There are rules for sending someone to collections that businesses must follow, and there are also rules that govern how debt collectors pursue debts. For example, no collector can harass you, and if you’re being harassed, it could be a sign that the agency isn’t legitimate. If you’re on the phone with a debt collector threatening to serve papers, your best defense is knowing what laws are on your side.

File a Complaint

You can submit a complaint with the Consumer Financial Protection Bureau if you believe a debt collector is violating your rights or you’ve been targeted by a debt collection scam. You can also file a complaint with your state’s attorney general’s office. 

Debt collection scams can be a sign that your information is at risk. To run one of these scams, someone has to have enough information to come up with a plausible-sounding debt in your name and contact you. It may be a good idea to freeze your credit report with the credit bureaus. That means no one can pull your credit report for the purpose of evaluating you for a loan or other debt unless you unfreeze your report—and no one impersonating you can cause that to happen, either. 

Remember Some Debt Is Legitimate

Finally, remember that some debt is, unfortunately, legitimate. It may be shocking to hear from a collection agency about an old debt, but that doesn’t mean you don’t owe it. While you can ask that the debt collection agency stop contacting you, if the debt is real, you still owe it. Failing to pay it could result in a lawsuit or further action to collect from you.

Getting Back on Track After a Debt Collection Scam

If you think you’ve been the target of any type of financial scam, including a debt collector scam, it’s important to work to get your credit information and other accounts in order as soon as possible. Working with a credit repair organization can help you attend to those details while continuing to live your life. 

This article has been updated. It was originally published Feb. 3, 2015.

Source: credit.com

Apache is functioning normally

Apache is functioning normally

Wednesday was a confirmation of a hawkish Fed that won’t care about the economy until it sees actual damage, and even then, only if that damage coincides with the expected drop in inflation.  More important than Powell’s message during the press conference was the takeaway from the Fed’s dot plot.  The market was positioned for this, but subsequent trading suggests “not positioned enough.”  Domestic traders began shifting their selling focus away from the shortest end of the yield curve this morning.  This is their way of acquiescing to the idea that the Fed will attempt to keep rates high for as long as possible (or as long as it takes for inflation to come back to target levels). 

Now for the plot twist: virtually all of the first paragraph was copied and pasted from last September’s post-Fed Thursday (here’s the link to the original).  Pretty spooky…

In the present day example, we have the same sort of international follow-through in the overnight session following a “higher for longer” nudge from the Fed, but we also have stronger jobless claims data and a higher inflation reading inside the Philly Fed data (of the two, the labor market data is the bigger mover). 

Comparing the present example to the big picture, we find similarities and differences.  In both cases, the Fed day reaction represented a technical breakout of a recently achieved high yield:

But the 2022 bond market was in a much greater state of flux.  The yield curve had only recently inverted and 2s had been selling off faster and faster compared to 10s.  Contrast that to 2023 where 2s have been far more sideways compared to 10s.  While it can take months, the stabilization of a curve inversion trend is another step toward an eventual rate reversal.  

The scary caveat is that some past examples show multiple head fakes back toward an un-inverted curve before it finally takes.  The following chart shows those head fakes (note, this is 10s vs 1s as opposed to 10s vs 2s, due to better historical data availability in 1yr Treasuries). 

Source: mortgagenewsdaily.com

Apache is functioning normally

Every item on this page was chosen by a Woman’s Day editor. We may earn commission on some of the items you choose to buy.

1

Best for Floating Flowers

Webelkart Diya Shape Urli Bowl

1

Best for Floating Flowers

Webelkart Diya Shape Urli Bowl

Credit: Webelkart

This special bowl can hold floating flowers and candles. You’ll appreciate the intricate detail on its metallic finish. Just fill it with water and artificial or real flowers with no stems. You can also use it for scented potpourri.

2

Most Festive Rangoli

Itiha Indian Rangoli Floor & Table Decoration

2

Most Festive Rangoli

Itiha Indian Rangoli Floor & Table Decoration

Credit: Itiha

This gorgeous rangoli is a great addition to tabletops. You can also lay it on the floor. Handcrafted by Indian artisans, you can use this to hold one candle at a time.

3

Best Diwali Door Decorations

Diwali Peacock Porch Banner

3

Best Diwali Door Decorations

Diwali Peacock Porch Banner

During Diwali, people might also decorate with peacocks due to their bright colors. This intricate door decor — which is made of polyester so it won’t wrinkle — will impress your neighbors.

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4

Best Budget Diwali Decoration

Diwali Backdrop

4

Best Budget Diwali Decoration

Diwali Backdrop

Credit: TENCOW

Hang this on any wall in your house for your Diwali party. The bold banner can also serve as a beautiful backdrop for a party photo booth. It features festive images of diyas, rangolis, and candles to boot.

5

Best Diwali Photo Booth Props

Duormal Diwali Photo Booth Props

5

Best Diwali Photo Booth Props

Duormal Diwali Photo Booth Props

Credit: Duormal

Who doesn’t love a good photo opp? This 16-piece kit comes with some fun adornments for your photo booth. With signs that say Happy Diwali, Festival of Light, and Warm Diwali Wishes, you can spread joy and awareness of the event. In true photo booth style, you’ll also get fun glasses, lips, mustaches, and more to complete your shot.

RELATED: 40 Fun Diwali Captions to Celebrate the Holiday

6

Best Diwali Centerpieces

Diwali Honeycomb Table Centerpieces

6

Best Diwali Centerpieces

Diwali Honeycomb Table Centerpieces

Credit: Know Me

These fabulous Diwali decorations can adorn your tables and other surfaces with bright colors and fun images. This 9-piece set comes flat, but easily opens up into 3D centerpieces. And the best part is, you can reuse them year after year.

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7

Best Diwali Decorative Table Runner

Linen Diwali Table Runner

7

Best Diwali Decorative Table Runner

Linen Diwali Table Runner

Credit: Jiudungs

Tablecloths are often either too formal or a little corny, depending on the design. To elevate your table for Diwali and keep things chic yet festive, a table runner is the perfect solution. This one in a lovely purple and gold color scheme will truly dazzle in any party space.

8

Best Fill-in Rangoli Template

Aditri Creation Designer Rangoli Mat

8

Best Fill-in Rangoli Template

Aditri Creation Designer Rangoli Mat

Don’t let the simplicity of this rangoli template fool you. When you pair it with colorful rangoli powder, it’ll be a lovely addition to tabletops. If you don’t want to make a mess of the powder, you can also paint it beautifully!

9

Personalized Diwali Decor

Personalization Mall Diwali Personalized Round Plate

9

Personalized Diwali Decor

Personalization Mall Diwali Personalized Round Plate

Now 30% Off

Credit: Personalization Mall

Hosting a dinner party or having people over for some delicious treats? A personalized plate can be a great addition to your tablescape. This round plate features a diya. Simply customize with your family name to make it your own.

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10

Best Large Diwali Banner

Diwali Banner for Fence

10

Best Large Diwali Banner

Diwali Banner for Fence

Credit: FARMNALL

If you have the space, let your neighbors know you celebrate Diwali with this 8-foot long sign. Display it on your fence or garage. Made of durable fabric, it can withstand wind and snow and won’t fade or wrinkle, so you can use it for years to come.

11

Best Happy Diwali Outdoor Decor

Diwali Yard Signs

11

Best Happy Diwali Outdoor Decor

Diwali Yard Signs

Credit: ADXCO

By now, you’ve likely seen graduation, baby shower, and birthday yard signs on your neighbor’s lawns. For Diwali, you can do the same! Share your Diwali pride with your community by staking these fun Diwali decorations outside. The set comes with 11 different pieces that scream Happy Diwali.

12

Colorful Marigold Garland for Mantle

LoveNTouch Handicraft Marigold Jasmine Toran Garland

12

Colorful Marigold Garland for Mantle

LoveNTouch Handicraft Marigold Jasmine Toran Garland

Credit: LoveNSpire

With this kit, you’ll get five feet of sweet artificial marigold garland to display over mantles, bookcases, or doorways. Choose from three different color combinations of orange, pink, and yellow.

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13

Best Rangoli Stencil Set

Rangoli Stencils

13

Best Rangoli Stencil Set

Rangoli Stencils

Use these rangoli stencils to easily create your own beautiful rangoli designs at home. Get the whole family involved for a fun and inexpensive Diwali activity!

14

DIY Sand Art Decor

A Kailo Chic Life

During Diwali, you will undoubtedly have candles all over your home. While you can use your standard candle holders, you may want to add some fun for the holiday by making these lovely (and easy!) sand art holders.

Get the Sand Art Decor tutorial at A Kailo Chic Life.

SHOP CRAFT SAND

15

DIY Dancing Ribbon Rings

Buggy and Buddy

One of the simplest crafts we’ve seen to date, these dancing ribbon rings can be made with your favorite hues. Since Diwali is marked by bold colors, select several colors to tie around wood rings. You can then hang these rings around the house or let kids craft and play with them during your Diwali party.

Get the Dancing Ribbon Ring tutorial at Buggy and Buddy.

SHOP RAINBOW RIBBON

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16

DIY Tissue Tassel Garland Cake Topper

See Vanessa Craft

We love the idea of using this DIY garland cake topper for your dessert table. If you’re serving a cake or pie, consider hanging it on top to give your table that extra added color that Diwali calls for. And the best part is, it’s easy to make and requires only a few materials.

Get the Tissue Tassel Garland Cake Topper tutorial at See Vanessa Craft.

SHOP COLORFUL TISSUE PAPER

Ysolt Usigan is a lifestyle writer and editor with 15+ years of experience working in digital media. She has created share-worthy content for publishers Shape, What To Expect, Cafe Mom, TODAY, CBS News, HuffPo, The Bump, Health, Ask Men, and Best Gifts. A working mom of two, her editorial expertise in parenting, shopping, and home are rooted in her everyday life. 

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Source: womansday.com