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Apache is functioning normally

Apache is functioning normally

Federal student loan payments resuming on Oct. 1 will negatively affect consumer loan asset quality, including credit card, auto and, to a lesser extent, residential mortgages. However, the overall effect will be modest, according to a Moody’s Analytics report. 

On Oct. 1, repayments are due to restart on Department of Education (DOE) federal student loans (Direct Student Loans), which began accruing interest again on Sept. 1.

In total, 24 million borrowers whose payments were suspended since the onset of the COVID-19 pandemic will owe an average of $275 per month when federal student loan payments resume, per Moody’s Analytics estimates. 

“As the interest burden on student debt increases, we expect the additional financial obligation will modestly strain borrowers’ ability to pay,” Moody’s analysts said in a report. 

According to the analysts, job market conditions remain the primary driver of consumer loan performance. In August, the unemployment rate was 3.8%, compared to 3.5% in July. Although it’s a low rate by historical standards, unemployment is at its highest level since February 2022. 

“Although student loans are non-dischargeable in bankruptcy, their priority in a consumer’s debt repayment hierarchy is low relative to the other major consumer debt classes,” Moody’s analysts said.

They added: “Borrowers are much more likely to prioritize servicing mortgage or auto loans and even credit cards since they stand to lose their house or car or access to credit or credit card rewards if they fall behind on such consumer loans.”

The report included data showing that delinquencies in major consumer debt classes are rising but are still at low levels.

For mortgage debt, the share of performing loans that were 30 or more days delinquent went from less than 2% in Q3 2021 to about 2.5% in Q2 2023. Credit card delinquencies jumped from 4% to about 7% in the same period. Meanwhile, auto loans rose from about 5% to 7%. 

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

Thanks in part to hosting the 2002 Winter Olympics, the Games helped put this sleeper metropolitan city on the map and pushed the economy to create more things for younger, Mormon and non-Mormon populations alike to enjoy.

Now Salt Lake City is home to booming brewhouses, a trending food scene, a culture that thrives on supporting local businesses and outdoor/indoor sports galore. From hiking to skiing, you can enjoy the mountains surrounding Salt Lake Valley year-round.

As Utah’s state capitol, it’s home to about a third of Utah’s population, with the larger area’s population coming in at 1.3 million. The state as a whole has a pretty young population with the median age being 27 and Salt Lake City’s living is pretty affordable. The average rent for a one-room apartment is $1,317. The greater Salt Lake City area has 22 different neighborhoods, each one a little different in vibe and conveniences.

Salt Lake City is home to the following professional sports teams: The Real Salt Lake MLS team, the Utah Jazz NBA team and the Utah Warriors MLR. Along with some minor league teams like the Salt Lake City Stars NBA G League and the Minor League Baseball team the Salt Lake Bees.

Here are the best neighborhoods in Salt Lake City.

  • Walk Score: 67/100

If you’re all about the outdoors, then this quiet and small Arcadia Heights neighborhood is just the cozy place you’ll find yourself gravitating toward. Right at the base of the Wasatch Mountains, it’s near outdoor gear shops and hiking trails.

Arcadia Heights attracts middle-aged residents, but that just makes it all the more peaceful. This little neighborhood has parks, dog parks and country clubs, so you can enjoy nature no matter your preference. Head to the mountains from your own back door, or take a 10-minute trip over to the Millcreek Canyon for fly fishing, snow-related sports or a great biking challenge.

  • Walk Score: 72/100

Not to confuse it with the Bonneville Salt Flats, Bonneville Hills is a nice suburban area just west of East Bench, where young professionals, families and professionals tend to gravitate. The streets have older homes and trees and the area is well-manicured.

It’s conveniently located, letting you reach wherever you need to go in just a few minutes, while still giving you that quieter lifestyle.

Source: Rent./Seasons at Library Square
  • Median 1-BR rent: $1,412
  • Median 2-BR rent: $1,918
  • Walk Score: 89/100

The Central City area is a super biker-friendly neighborhood and touted as the City’s first hipster cove. Central City gives Capitol Hill a run for its money on coffee shops, too, but also offers the brunching destinations of your dreams, why it’s one of the best neighborhoods in Salt Lake City.

Walk around and enjoy the Tracy Aviary, the sculptures in Gilgal Gardens or the perfect view for sunsets in the Faultline Gardens. Thanks to all the parks, bars and restaurants, young professionals have understandably been flocking to the area for years.

  • Median 1-BR rent: $1,374
  • Median 2-BR rent: $1,499
  • Walk Score: 67/100

East Bench traditionally has an older population of retired folks — but they can make the best neighbors. It’s just 10 minutes from Downtown and provides a great suburban feel.

If you’re looking for something a little on the quiet, slightly upscale side with a golf course or two, East Bench is the place for you.

  • Median 1-BR rent: $1,006
  • Median 2-BR rent: $1,179
  • Walk Score: 60/100

The Glendale neighborhood is conveniently close to the downtown hustle and bustle, just west of I-15. This neighborhood loves the outdoors, as it has several parks. The biggest park, Jordan Park, hosts the weekly People’s Market where residents can get freshly grown and homemade goods.

Glendale’s home to the planetarium, Utah’s largest brewery and loads of dining options, too.

Source: Rent./The Charli
  • Median 1-BR rent: $925
  • Median 2-BR rent: $1,025
  • Walk Score: 67/100

What was S.L.C.’s industrial district, like so many other metropolitan areas, has become the revitalized hangout destination for young professionals. With outdoor murals all over the buildings in the Granary and Ballpark District, and so many eating and drinking options, it’s clear to see why so many flock to this area, even if they’re only there to catch a Salt Lake Bees game.

And what’s a minor-league baseball game without beer, right? The district is full of gastropubs and good brews, too, perfect for one of the best neighborhoods in Salt Lake City.

  • Median 1-BR rent: $925
  • Median 2-BR rent: $1,095
  • Walk Score: 64/100

Highland Park has a homey and local feel that’s packed full of history. There’s a pretty large historic preservation effort going on in the neighborhood, which was developed starting in 1910.

Like several other niche areas in S.L.C., Highland Park is all about supporting local businesses, and its efforts have curated quite a few cool shops. Stroll the streets to find a specialty plant retailer, a garden and bird supplier, a bookstore and an old-school pharmacy/gift shop. The food is great, ranging from Italian or Greek to Dutch or sushi.

Highland Park is also known for its Visual Arts Institute, along with its golf course. There’s something for everyone at Highland Park!

  • Median 1-BR rent: $1,125
  • Median 2-BR rent: $1,395
  • Walk Score: 67/100

The Liberty Wells area has a history of ebbing and flowing, due to its play in Salt Lake City’s history. From supporting the city through agriculture to streamlining streetcars, Liberty Wells has had its highs and lows.

Currently, it’s experiencing a massive high and is a huge upcoming residential area. As a part of that, the newer apartment buildings are ample, as are ways to enjoy the neighborhood. From wonderful food choices to Liberty Park or the Chase Home Museum of Utah Folk Arts, there’s pretty much always something to enjoy in the area.

  • Walk Score: 67/100

The 9th and 9th district likes to say it’s a one-stop-shop for all things dining, shopping and living-related and promotes a “buy local” lifestyle. The neighborhood has figured out that if you eat and shop locally, the money goes back into the community. Mom-and-pop shops are around every corner, and the big-box stores are a little harder to find. The 9th and 9th District calls itself the “anti-mall” community.

From breweries to Thai and Hawaiian eateries, this mellow little neighborhood packs a punch of diversity so its residents will never get bored.

  • Median 1-BR rent: $1,064
  • Median 2-BR rent: $1,449
  • Walk Score: 52/100

Rose Park is on an upward swing in Salt Lake City and is becoming one of the most up-and-coming suburbs in the area. It’s one of the most ethnically diverse areas in the city, and you can’t beat the easy commute!

Loaded with tons of community parks and filling up fast with families, this is a great area if you’re looking to escape the hustle and grind in the throes of a city, but don’t want to get too far out.

  • Median 1-BR rent: $1,602
  • Median 2-BR rent: $1,902
  • Walk Score: 67/100

Sugar House is one of the best neighborhoods in Salt Lake City neighborhood and it’s pretty progressive. In fact, it’s known as one of the most “hippy” neighborhoods in S.L.C. The fun name comes from its first settlers planting sugar beets.

Sugar House is actually one of the city’s oldest neighborhoods, established in 1853 and it’s home to Sugar House Park, a large park with great views on the Wasatch Mountains and ample running trails.

If you’re in the mood to shop, this little neighborhood scattered with Victorian-styled bungalows has you covered, stop into any slew of the hippy boutiques selling anything from olives to tarot cards or locally made goodies.

  • Walk Score: 41/100

While largely residential and suburban, Sunnyside East feels spread out and laid back with a little less than 700 residents. It’s a little further out from the heart of the city, so most residents are either retirees or families looking for something a little slower and quieter.

The attractions are pretty diverse though, as Sunnyside East is home to a golf course and the zoo. Those attractions bring in plenty of events throughout the year, too. With plenty of food options — pho, smoothies, curry, delis and sushi — there’s no reason to ever leave the area.

  • Median 1-BR rent: $1,200
  • Median 2-BR rent: $1,700
  • Walk Score: 68/100

If you’re into an old-town feel, something lined with old homes that need love, The Avenues is the S.L.C. neighborhood for you. Stretching up along the hillside, this region overlooks the State Capitol Building and has a storied, history-rich vibe. If you’re a coffee fiend, this is the neighborhood of your dreams. With all the political hustle in this neighborhood, the coffee runs faster than the Legislature.

Take a scenic stroll through architectural wonders like the nearby Cathedral of Madeleine, the State Capitol building itself or the Salt Lake Masonic Temple. For a slightly spookier journey, you could always try to find the city’s oldest grave in the Salt Lake City Cemetery. Be sure to catch a play at the theatre, too.

  • Median 1-BR rent: $925
  • Median 2-BR rent: $1,095
  • Walk Score: 67/100

The University District takes its name from the University of Utah. While it has a fair bit of students and medical professionals coming and going from day to day, this youthful niche has brought in a lot of great hangouts and events to the area’s residents.

Located at the foothills of the mountains, you can’t beat the scenery! Not only is it home to the Natural History Museum, but it also has all kinds of outdoor activities and parks to enjoy, too, like the famed Living Room hike. What you would expect from one of the best neighborhoods in Salt Lake City.

  • Walk Score: 41/100

Yalecrest is another one of Salt Lake City’s most treasured old historical neighborhoods. Often referred to as Harvard-Yale, these homes were designed with consistency in mind.

Keeping the same architectural motifs of period cottages throughout, there’s a continuity in the homes that’s pleasing to the eye while differing enough to keep you intrigued. It’s this reliability that makes it one of S.L.C.’s most historically well-preserved areas, thanks in part to its residents’ pride in the area.

Because of Yalecrest’s dedication to the original structures, there aren’t too many nonresidential buildings in the area, but the residents love the neighborhood’s charm so much they don’t mind going for a drive to get their groceries.

What’s the best neighborhood in Salt Lake City for you?

Whether you’re a teetotaler or a brewmaster, a golfer or a hiker, Salt Lake City has you covered. If you think you found your new neighborhood, be sure to check out current apartments to rent in Salt Lake City.

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

Source: rent.com

Apache is functioning normally

Apache is functioning normally

Is Kansas City in Kansas, or is it in Missouri? It’s kind of both. Both are individually incorporated cities, but together they make up the greater Kansas City metropolitan area.

Long ago, in the 1830s, KCMO got started as a trade outpost to fit hunters with furs and traps. Now, that’s morphed into manufacturing and it dabbles in tech, transportation and healthcare. For visitors, it’s better known for LEGOLAND, the National World War I Museum, tons of art galleries and museums, the Airline History Museum, too many fountains to count and, of course, Kansas City barbecue.

The concentration of barbecue alone is enough to focus on, as Kansas City has the most barbecue restaurants per capita than anywhere else in the U.S. Characterized by burnt ends with extra flavor, and a thicker-than-most tomato-based sweet barbecue sauce smothered on the smoked meat (not on the side!), Kansas City barbecue has made a name for itself for obvious reasons.

Residents cheer on several pro sports teams, like the Kansas City Chiefs, the Kansas City Royals and the Kansas City Current.

The Kansas City metro area has 2.34 million residents. The median age is 35 years old and the median household earns about $55,000. With a whopping 240 neighborhoods making up the city, there’s plenty of variety and subcultures to add to the spice of life for Kansas City residents. Here are 15 of the up-and-coming best neighborhoods in Kansas City for 2022.

  • Median 1-BR rent: $1,135
  • Median 2-BR rent: $1,410
  • Walk score: 48/100

Constructed in the 1920s, Brookside has that beloved historical feeling. But throw in a couple of community staples, like festivals, parades and fairs, and you’ve got a local color you can’t beat.

Kansas City residents claim Brookside is “quintessential Kansas City.” From ghost tours, toy shops, local makers and retailers, art galleries and museums — not to mention all the great food, pubs and cafes — Brookside has a little bit of everything for everyone and offers a whole lot of fun.

  • Walk score: 83/100

The Country Club Plaza can often feel otherworldly to the rest of Kansas City, thanks to its Spanish-inspired architecture. It’s a pretty popular area since it’s known as the shopping capital of the city, spanning 15 blocks of retail. From designer to local, there’s a shop for everyone.

If visitors don’t come for the shopping, they probably came for the food because it’s just that good. And if they didn’t come for either, they definitely came for one of the two art museums in the neighborhood. If nothing else, maybe they’re there to count all the fountains, of which there are many. It’s no wonder this is one of the best neighborhoods in Kansas City.

  • Median 1-BR rent: $1,420
  • Median 2-BR rent: $1,695
  • Walk score: 85/100

Like many neighborhoods in metropolitan cities across the U.S., Crossroads was once a warehouse district. When the manufacturers left, the area was vacant until someone had a vision. The area became what it’s known for today, the Crossroads Arts District.

Each month on the first Friday, this neighborhood puts on an art crawl spanning 20 blocks with 70 retailers involved. The neighborhood is also home to the Kauffman Center for the Performing Arts, which stages theatrical performances, music and dance recitals.

The area has plenty of breweries and bars to make a whole evening out of the arts, along with great restaurants, too. Hipsters and young professionals flock to the area for its creative vibes and good times.

  • Median 1-BR rent: $1,735
  • Median 2-BR rent: $2,420
  • Walk score: 69/100

Home to LEGOLAND, the city’s aquarium, the Money Museum and a covered ice rink in the winter, there are tons of things to do in Crown Center for families and singles.

Just south of Downtown, this neighborhood also has the Crown Center Mall where there’s plenty of shopping opportunities and local retailers, too. Obviously, the area has plenty of great dining options to boot.

  • Median 1-BR rent: $1,135
  • Median 2-BR rent: $1,410
  • Walk score: 48/100

As one of America’s leading best downtowns, Downtown Kansas City has a lot to offer to keep itself in the ranks. Home to a year-round, Saturday-and-Sunday City Market, come rain or shine, residents have every excuse to go downtown on the regular.

Downtown also hosts about 130 free events each year and boasts dining options from across the world.

  • Median 1-BR rent: N/A
  • Median 2-BR rent: N/A
  • Walk score: 48/100

East Bottoms was a booming neighborhood closer to its founding back around 1800. It was well known for its J. Rieger & Co. Distillery, producer of over 100 different products, founded in 1887.

The distillery was eventually forced to shut down during the prohibition, but in 2014, the original owner’s great-great-great-grandson got the distillery up and running again. In addition to its specialty spirits you can taste all over the country in craft cocktails, this distillery opened up its own tasting and dining rooms which revitalized the area and urged other pubs and breweries to join the mix, making it one of the best neighborhoods in Kansas City.

This is a great area in Kansas City to meet up with friends to have a great time.

  • Median 1-BR rent: N/A
  • Median 2-BR rent: N/A
  • Walk score: 54/100

Two of KCMO’s most notable, must-see museums are in the 18th & Vine District: The Negro Leagues Baseball Museum and the American Jazz Museum. Throw in some barbecue (there are plenty of options in the area), and you have three of Kansas City’s biggest passions: Baseball, jazz and barbecue.

Since it’s such a storied area, residents and visitors can enjoy live entertainment and music regularly.

  • Median 1-BR rent: N/A
  • Median 2-BR rent: N/A
  • Walk score: 48/100

In recent years, after a stint marked by crime, Manheim Park has gone under a reconstruction period. Merging together old historic constructions with modern designs, there’s a visual flow and continuity in this little neighborhood. This community-member-lead reinvigoration has even been published nationally.

Manheim Park has put in the work to transform itself into an upcoming area with ample easy-living apartments, and the momentum isn’t slowing down anytime soon.

Source: Rent./The Briarcliff City Apartments
  • Median 1-BR rent: $1,023
  • Median 2-BR rent: $1,200
  • Walk score: 28/100

This quiet suburban area of Northland packs a punch thanks to the riverboat casinos, Worlds of Fun amusement park and a shopping district. Along with local retailers are art galleries, festivals and firework shows.

There are also a couple of indoor sporting venues, like rock climbing, or the restaurant-and-play duo that brought pickleball to Kansas City, Chicken N Pickle.

  • Median 1-BR rent: N/A
  • Median 2-BR rent: N/A
  • Walk score: 66/100

Another cove for older, architecturally rich and Victorian homes, Pendleton Heights is definitely worth checking out. Young professionals, families just starting out, artists and creatives tend to flock to this area, and its residents seem to stick around for the long haul.

This rather diverse neighborhood is a tight-knit community where residents tend to look out for one another, and one of the best neighborhoods in Kansas City is also the perfect area to call home.

  • Median 1-BR rent: $1,504
  • Median 2-BR rent: $2,187
  • Walk score: 85/100

Butting up against the Missouri River, River Market has gone by many names in the past, but was the city’s first incorporated district. Its name aptly implies that long ago, the river-side access lent this area to a lot of trade. That still carries into today, though it looks a little different now thanks in part to its bustling open-air farmer’s market.

If you’re into old mobster histories, this district has plenty of that, thanks to its River Quay (just one of the area’s many previous names) era now long ago. A mob war broke out and resulted in burning buildings and businesses, along with a few mob members’ deaths. After the fiasco, the mob left the area, as depicted in “Casino.”

If you lean away from all things true-crime, River Market’s fresh and bustling food, bar and boutique scenes serve as plenty of an attraction, too.

Source: Rent./Gladstone Pointe
  • Median 1-BR rent: $645
  • Median 2-BR rent: $750
  • Walk score: 63/100

About two miles east of downtown, overlooking the Missouri River, Scarritt Point is a well-located neighborhood full of history. With well-manicured streets and sidewalks, overhung with large shady trees, this area was prominent back in the day among affluent families who built large homes.

If old historical residences are what you’re after, this neighborhood is right for you. It’s chock full of local flavors and good dining, too.

  • Median 1-BR rent: $940
  • Median 2-BR rent: $1,340
  • Walk score: 86/100

If you’re looking for a beautiful, well-manicured area loaded with parks, creeks and lush greenery, maybe even a rose garden, then the South Plaza area is the ideal neighborhood for you.

It’s home to the University of Missouri – Kansas City, the Kansas City Repertory Theatre and the National Museum of Toys and Miniatures, so residents have plenty to keep busy. Not to mention the creative and trendy restaurants on-hand in this neighborhood, too. All that goes a long way to help it stay one of the best neighborhoods in Kansas City.

  • Median 1-BR rent: N/A
  • Median 2-BR rent: N/A
  • Walk score: 48/100

The Sunset Hill area is a beautiful neighborhood with great parks and lovely, Colonial- and Tudor-styled homes. This well-maintained area is where young families tend to gravitate, so there are plenty of amenities at hand.

A quick 10-minute drive will bring you right to Country Club Plaza’s offerings, without having to sacrifice the quiet nature of this little suburban haven. With great food and drinks nearby, it’s hard to say no to Sunset Hill!

Source: Rent./The Ridge at Chestnut
  • Median 1-BR rent: $765
  • Median 2-BR rent: $870
  • Walk score: 58/100

Waldo is one of the main entertainment districts in Kansas City. It tactfully balances nightlife with family-friendly events, like the Waldo Fall Festival. Where good drinks are pouring, good plates are easy to find, as is shopping.

Each year, Waldo is home to the Trolley Run, a race following the historic streetcar or trolley tracks throughout the neighborhood. There’s a tight-knit feeling in Waldo, where residents look out for each other and have fun together.

The best neighborhoods in Kansas City — find one that’s right for you

If you found a neighborhood that sounds like your own personal hiatus, check out these apartments for rent in Kansas City!

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

Source: rent.com

Apache is functioning normally

Apache is functioning normally

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

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

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

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

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

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

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

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

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

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

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

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

What’s next?

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

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

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

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

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

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

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

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

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

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

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

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

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

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Find the best Columbus neighborhood for you

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

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

Source: rent.com

Apache is functioning normally

Apache is functioning normally

Mortgage application activity bounced back from the holiday-shortened prior week but is still running significantly below historic levels. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, increased 5.4 percent on a seasonally adjusted basis during the week ended September 15. On an unadjusted basis, the Index increased 16 percent compared with the week that started with Labor Day.

The Refinance Index rose 13 percent week-over-week and was 29 percent lower than the same week in 2022.  The refinance share of mortgage activity increased to 31.6 percent of total applications from 29.1 percent the previous week.

The seasonally adjusted Purchase Index gained 2.0 percent compared to the prior week. The unadjusted Purchase Index increased 12 percent and was 26 percent lower than the same week one year ago.

“Mortgage applications increased last week, despite the 30-year fixed rate edging back up to 7.31 percent – its highest level in four weeks,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Purchase applications increased for conventional and FHA loans over the week but remained 26 percent lower than the same week a year ago, as homebuyers continue to face higher rates and limited for-sale inventory, which have made purchase conditions more challenging. Refinance applications also increased last week but are still almost 30 percent lower than the same week last year.”

Added Kan, “The average loan size on a purchase application was $416,800, the highest level in six weeks. Home prices in many markets have been supported by low inventory and resilient housing demand for available homes.”

Other Highlights from MBA’s Weekly Mortgage Applications Survey

  • The average size of a purchase loan, $416,800, was almost $4,000 higher than the prior week while the overall size of loans drifted down from $368,100 to $365,600.
  • The FHA share of total applications was unchanged at 14.2 percent while the VA share dipped to 11.0 percent from 11.3 percent. USDA applications accounted for 0.4 percent of total applications, identical to the previous week.
  • The 7.31 percent average contract interest rate for conforming 30-year fixed-rate mortgages (FRM) was 4 basis points higher than a week earlier. Points were unchanged at 0.72.
  • The rate for jumbo 30-year FRM increased to 7.32 percent from 7.25 percent, with points increasing to 0.80 from 0.72.
  • Thirty-year FHA-backed FRM had a rate averaging 7.08 percent with 0.91 point. The prior week the rate was 7.04 percent, with 0.98 point.
  • Fifteen-year FRM rates declined by an average of 10 basis points to 6.62 percent while points increased to 1.08 from 1.01.
  • The average contract interest rate for 5/1 adjustable-rate mortgages (ARMs) decreased to 6.42 percent from 6.59 percent, with points decreasing to 1.10 from 1.16. 
  • The ARM share of activity decreased to 7.2 percent of total applications from 7.5 percent.

Source: mortgagenewsdaily.com

Apache is functioning normally

Apache is functioning normally

Witness the pinnacle of opulence, ingenuity, and artistic brilliance as Kohler, the global frontrunner in kitchen and bath solutions, introduces its highly anticipated third Experience Centre in India on August 11. Nestled in the vibrant heart of Bengaluru, at Trinity Circle on MG Road, the Kohler Experience Centre (KEC) sprawls across an expansive 10,000 sq. ft, promising an unparalleled wellspring of inspiration for elevating bath space decor, where luxury transcends boundaries. Serving as a haven of immersive encounters, the KEC beckons architects, designers, and consumers alike to engage with products, exchange creative ideas, and embark on personalized ventures imbued with their unique aesthetic sensibilities.

David Kohler, Chair and CEO of Kohler Co, expressed, “KEC Bengaluru marks the third installment in India and the thirteenth globally, underscoring our unwavering dedication to providing extraordinary experiences for our esteemed customers in India. As we celebrate our 150th anniversary, we remain committed to serving our customers through targeted investments, robust distribution, and the offering of distinctive products tailored for India. We eagerly anticipate welcoming the creative community to explore and draw inspiration from the boundless possibilities of transforming their spaces into havens of style, functionality, and unparalleled quality.“

Salil Sadanandan, President of K&B South Asia and Asia Pacific at Kohler, further elaborated, “At the Kohler Experience Centre, innovation, design, and craftsmanship converge to craft a unique encounter. We are confident that this new space will become a realm of luxurious indulgence and synonymous with refined living. It will empower our consumers to explore an array of cutting-edge solutions for bath spaces, meticulously customized to resonate with their design preferences.“

The KEC bears exceptional significance as it breathes life into Kohler’s 150th-anniversary celebrations under the theme of “Come All Creators.” Beyond showcasing captivating creations from artistic collaborations with talents spanning India, the USA, Brazil, and China, the center features five inspirational suites envisioned by renowned Indian and international architects: Talati and Partners LLP, DSP Design associates, Miaja Design Group, Fab Designs, and Venkataramanan Associates. These suites are meticulously conceived to display the limitless possibilities in luxury bathrooms, each presenting Kohler’s finest products within a distinctive thematic context.

Vishal Chadha, Managing Director of K&B for India and South Asia at Kohler, enthused, “We are genuinely thrilled to unveil the doors to this distinctive space, where Art, Technology, and premium bath products harmoniously merge. Through the Experience Centre, our vision is to inspire consumers and empower them to transform their dreams into reality.“

The Bengaluru-based KEC proudly showcases a series of artist-edition sinks, reflecting Kohler’s dedication to collaborating with artists and infusing artistry into their products. These handcrafted decorative sinks transcend mere aesthetic appeal; they are meticulously crafted from premium materials and draw inspiration from cultures and heritage across the globe, rendering them as distinct as their homeowners. Notable mentions include “Aranya” and “Quila” by Pushpa Kumari and Padma Shri Jai Prakash, respectively, showcasing Mithila and Miniature painting styles, leaving an indelible mark at the forefront of KEC Bengaluru.

Embodying Kohler’s rich legacy in colors, the KEC radiates a harmonious blend of India-inspired hues, such as Thunder Grey evoking the monsoon’s spirit, Peacock reminiscent of India’s national bird, and Indigo capturing the essence of natural dyes. Global finishes like Rose Gold and Matte Black enhance the allure of the KEC, bearing testament to the brand’s color-centric heritage since 1927. These finishes serve to enrich bath spaces while fostering a sense of unity and delight.

The Experience Centre stands as a treasury of live, fully functional displays showcasing an array of showers and Intelligent toilets, alongside a selection of the most innovative, design-forward products sourced both globally and regionally. Among the highlights is the Statement showering system, which redefines indulgence through its opulent spray functions, creating immersive environments for rinsing, massaging, and rejuvenating. The Anthem digital controls offer preconfigured hydrotherapy journeys that introduce new dimensions of wellness to daily routines. Additionally, the live area boasts an exquisite collection of bathtubs in diverse shapes and sizes, harnessing the power of water to calm the mind, refresh the body, and revitalize the spirit.

 

Source: indianretailer.com

Apache is functioning normally

Apache is functioning normally

In the week leading up to the Federal Open Market Committee meeting, mortgage applications finally ticked up.

For the week that ended Sept. 15, mortgage applications rose 5.4% from the prior week, according to data from the Mortgage Bankers Association. 

Last week, purchase applications increased for both conventional and FHA loans but remained 26% lower than the same week a year ago. Meanwhile, refinance applications also increased but are still about 30% lower than the same week last year.

“Mortgage applications increased last week, despite the 30-year fixed rate edging back up to 7.31%, its highest level in four weeks,” Joel Kan, MBA’s vice president and deputy chief economist said.

Also noteworthy, the average loan size on a purchase application was $416,800, the highest level in six weeks. 

“Home prices in many markets have been supported by low inventory and resilient housing demand for available homes,” Kan added.

The refinance share of mortgage activity increased to 31.6% of total applications from 29.1% the previous week. Meanwhile, the adjustable-rate mortgage (ARM) share of activity decreased to 7.2% of total applications from 7.5% last week.

The 30-year fixed mortgage rate increased to 7.31% last week, according to Kan. At HousingWire’s Mortgage Rates Center, Optimal Blue had 30-year fixed-rate mortgage at 7.19% on Sunday. At Mortgage News Daily, 30-year fixed-rate mortgage rates were at 7.30% on Tuesday.

The Federal Housing Administration loans’ share remained unchanged at 14.2%. As homebuyers continue to face higher rates and limited for-sale inventory, purchase conditions are becoming more challenging for buyers. The U.S. Department of Veteran Affairs loans’ share decreased to 11% from 11.3% the week prior. Lastly, the U.S. Department of Agriculture loans’ share remained unchanged at 0.4%.

The average contract interest rate for 5/1 ARMs dropped to 6.42% from 6.59% a week prior.

The FOMC is expected to hold rates steady on Wednesday, though analysts believe one more rate hike remains in the cards this year.

Source: housingwire.com