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The ripple effect of a financial mindset can be seen in every aspect of your life.
Think about it: If you are not mindful of how you spend and save money, then you will be in a constant struggle each and every month.
If you are simply someone who is struggling to make ends meet, there are many things we can do to save money. If you are trying desperately to reach financial freedom sooner, then you need these best money hacks to make it happen sooner.
Around here at Money Bliss, we spend a lot of time on our money mindset and setting goals.
Everyone is in a different season with their finances.
But, one thing is true… Most of us never learned proper money management.
Do you find yourself in a constant cycle of financial struggle? Do you feel like you are constantly trying to live up to unrealistic standards?
It is easy for people to feel that they are constantly broke, and in some cases this is true. But, it is also important to remember that there are ways in which you can make more money and start saving for your future.
Since changing money habits does not always come easy and often requires some serious changes in our mindset, we are here to support you to find the top money hacks.
Read on as we share 50+ ways you can start saving more money as well as making more money while also saving your sanity!
What are Money Hacks?
Money hacks are the ways in which people stretch their money.
These money hacks can come from a variety of sources, such as personal experience, family members or friends, and other individuals on social media.
Money hacks can come in many forms such as:
Simple money saving hacks
Ways to make money on the side
Strategies to make every dollar count
Thrifty ideas to be more frugal
Ideas to be more conscious of our waste
All in all, money hacks will help you to spend less money. Thus, saving more money.
As you will learn at Money Bliss, saving money opens up doors of opportunities
Best Money Hacks
Money hacks are ways to build long-term wealth.
Even though most of the hacks for money include quick saving wins, over the long term, you will actually start a snowball effect of more money in your bank account.
Sometimes, it can be difficult to find the motivation to save money, but these 7 best real money hacks will help you reset your financial mindset and start saving!
The best money hacks are the overarching big picture concepts that you must master for long-term success.
1. Think Big
Open up your mind.
One way to reset your financial mindset is by opening yourself up to new ways of thinking about spending and saving.
Too often, we are focused on what is directly in front of us instead of thinking about the big picture.
A great way to think big with your finances is to decide how you want to live life with intention.
2. Habit of Saving Money
Get back in the habit of saving.
If you have been beyond your means or barely scraping by, the best way to get back on track is by saving at least 20% of your income.
This may seem a little ludicrous. However, by prioritizing saving first, you will be pleasantly surprised how well you live off the rest.
In this post, there will be so many simple and easy ways to start saving today.
3. Make a Plan for Your Money
Create a spending plan (aka that dreaded word budget).
Creating an outline for what you want and need will help you to make smarter decisions about your spending.
This concept has been made too difficult over the years.
The bottom line is you want to spend less than you make. So, make a plan for that to happen today.
4. Make Money on the Side
This one is huge!
Personally, making extra money has been a priority for the last 5 years. We spent many years trying to cut our expenses and hating our inability to actually spend less as a growing family. So, we changed our focus to finding ways to make more money instead.
Start a side hustle. If you are not making enough to live comfortably, start a side hustle! Use your unique skill set to make extra cash.
Pick up a second job or ask for more hours.
There are plenty of ways to make money fast.
5. Invest in Stock Market
This means a way to make money or increase your net worth. AKA make your money work for you.
Too many times, the concept of investing is big and scary. The thought of starting is way too overwhelming. So you put it off until next week or next month. Then, a couple of years go by and you have not invested your money.
That is the biggest financial mistake you can make.
Start small by investing in an index fund. Each month consistently add more money.
If you want to learn to trade stocks, then you must enroll in the best investing course I have found.
Read my in-depth investing course review.
6. Pay Off Debt
Ugh… debt is the cash flow killer.
You are unable to make forward progress if you are straddled by debt.
Figure out how to pay off debt ASAP.
When calculating how long it will take to pay off high-interest debt, you should consider paying the highest interest rate first. Here is the best debt payoff app available.
7. Watch Your Spending
Be mindful of your spending.
This is a great practice that many people need to start doing again, regardless of how much money or how little money they have.
Every few months, you need to evaluate your spending to see if it matches up with your values.
As you can imagine there are many money hacks that can help you save, but the list above is the money hacks that will make the biggest difference the quickest. Below we have many more money hacks for you to explore.
Hacks for Saving Money
Money app hacks are small, quick, and easy ways to improve your finances.
They can range from things like automating your budget or creating a money jar that pays for itself, to more complex solutions like changing your tax withholding or moving money around to get a higher return.
Honestly, there are so many life hacks for saving money.
8. Automatic Savings
This is a practice of automatically transferring money from your checking account into your savings account on a regular basis.
It is best to set a transfer amount and stick to it.
Since it is easier to save your money before you spend it, you must save as much money as possible in order for this strategy to be effective.
9. Financial goals
A financial goal is a long-term, quantifiable expectation for how much money you want to have, or what you plan on doing with your money. Your goals can be as simple as saving for the down payment on a house or as involved as saving for retirement.
Our financial goals allow us to set specific, numerical targets that help us achieve our desired lifestyle in a more concrete way.
You must set smart financial goals.
10. What brings you joy?
At the end of the day, it is important to remember that life is all about finding what brings you joy.
The question is open-ended, but your money must line up with what brings you joy.
Spend a few minutes and stew on the question.
11. Build an emergency savings fund
Building an emergency savings fund is a great idea if you are in the habit of saving money and want to make sure that you have some money saved up when times get rough.
If you are struggling to save, there are a few ways you can increase your savings.
For example, you might be able to set up automatic transfers from your checking account into an investment account. You should also make sure that you have a way to save money outside of your checking account.
Saving cash in a jar or saving up coins are ideas for some people.
12. Invest spare change
If you go shopping and buy something, most stores will give you change. If you use a debit or credit card, you can do the same thing with help of a popular app!
Simple money hack: investing your spare change.
In order to invest your spare change in an account, you can open one for as little as $5. Acorns then automatically invest the money from your checking account and into a savings acorn account.
As the round-up feature continues to add upon each purchase, it is a good idea to invest in this app so that you can save more dollars!
13. Challenge Yourself to Save
If you are looking to save money, it is best to set up a budget that includes challenging yourself.
A great way to do this is with the no spend challenge.
A no-buy is when you decide to simply not make any purchases for a certain amount of time.
A no-spend is when someone decides to not spend any money in a certain period of time.
When you are struggling with spending too much money and want to reset your wallet, then give up spending money. Period.
14. Join a buy nothing group
The buy nothing groups are a growing movement that started in order to help people cut their ecological footprint, save money, and break free of consumerism.
This is a great way to find things you need as well as declutter your house.
15. Negotiate everything
The key to successful negotiation is preparation.
Research the company’s past sales, price changes, and discounts offered in order to get a better understanding of what you’re negotiating for.
Don’t be afraid to negotiate.
What is the worst thing that can happen when someone says no!?!
16. Refinance Your Mortgage
It is never too late to refinance your mortgage.
In fact, it might be a good idea if you’re in the market for a new home or refinancing your loan on an existing property.
You must weigh the costs of refinancing to how much you will save over the time period of the loan.
Ask around for mortgage broker recommendations and get at least two quotes.
17. Downsize your Home
Downsize your home is the term for reducing a residence in size. This can be done by either moving to an apartment or buying a smaller house. There are many benefits of downsizing, including living a more affordable lifestyle and having less upkeep.
Downsizers use their homes as investments and save money on rent or mortgage payments.
18. Cut the cord
With the internet becoming accessible to everyone, people have started cutting their cable and watching shows online. People can save up to $500 a year by cutting cable from their bills.
Cut the cable & stop watching TV!
19. Learn about Finances
Ask for help.
If you are struggling, there is no shame in asking for assistance from your friends or family members.
The goal is to get ahead with money and not keep digging further into a hole.
Check out any of our courses to help you.
20. Save for What You Want
Decide what you want most and work towards it with the money you have now, instead of waiting for a windfall or a large inheritance.
This may mean setting aside $200 a month.
For example, as a reminder of your long-term goal of buying a beach property, you may buy something you would hang in the new place. Every time you see it, you will be reminded of what you are saving towards.
Budget Hacks
Financial hacks are not unusual.
Since it is so easy to overspend, you must know a few budgeting hacks ahead of time.
21. Need vs Want
A want is a desire for something, while a need is something that fulfills the requirement of your body like food or shelter.
When you think about buying something, ask yourself if it is a want or a need.
By uncovering needs vs wants, you are quickly able to find ways to spend less and save more.
22. Avoid Temptation
To avoid temptation, it is important to maintain a healthy amount of physical and emotional distance from the things that tempt you.
Sometimes, spending triggers are easy to avoid but other times they’re not.
However, people should always be aware of their temptations and try to stay away from them because it will lead to unnecessary debt or stress in the long run.
23. Practice the 30-day rule
Many people wonder what’s the 30 day rule with money…
The 30-day rule is the principle that states that you should practice a new habit or stop an old habit for at least thirty days before expecting success.
When it comes to your money, it means to wait thirty days before making big purchases or changes.
24. Keep a Budget Binder
A budget binder is an important tool that helps people keep track of their finances.
The binder can help people plan out their finances by providing a place to record expenses and income.
Keeping a budget binder is an effective way to track your spending and keep yourself accountable.
By keeping it, you can easily plan for future expenses in advance as well as see what money could be saved or spent on different items over time.
25. Get a spend tracker and use it regularly
Track your spending for 30 days. It can be a good idea to track your spending for at least a month to get an idea of what you’re spending and where.
A spending tracker is a tool that helps people keep track of how much they are spending on a certain item. It is important to use this tool regularly in order to be able to see patterns in your spending.
Then, review your spending. Share it with a trusted friend or family member to come up with some goals to reduce expenses in order to save money.
26. Create a budget
Create a budget, and follow it.
When you schedule your spending, make sure to leave room for savings. This is the easiest way to ensure that you can stick to your budget.
Find more budgeting resources on our site.
27. Pay Bills on Time
This should be a simple statement that we all know. However, life can throw curveballs.
Try to pay your bills on time and in full every month, and make sure all of your bills are paid each month.
This will show lenders that you are responsible and that you are taking care of your credit. Plus you don’t rack up those pesky late fees and high interest rates.
28. Avoid Missed Payments
Don’t miss any payments, and pay off your balances each month to avoid paying high interest rates or fees on late or missed payments.
Read again… do not miss paying your bills.
29. Reconcile Your Checking Account
Balance your checkbook monthly. Okay, no one really uses a checkbook anymore, but you can still do this with pen and paper.
Even better, use Quicken as a simple way to balance your checking account. Read my Quicken review.
This is a great way to check for being charged too much or find a subscription you don’t use anymore.
30. Avoid Summer Budget Busters
Avoid spending money for the summer by just being conscious of your spending and reviewing what is different than the norm.
It is too easy to get into the trap of spending money because the weather is warm.
31. Review your Credit Card Statements
If you’re like most people, you probably review your credit card statements once every six months.
What’s the best way to go about reviewing them?
It depends on how often you use your credit card, how much debt you have, and what your credit score is. You should review your statements at least once a year if you’re carrying a balance on your credit cards.
If you use your credit card, then you should review your statements at least monthly.
32. Use the Cents Plan Formula
While the 50/30/20 budgeting rule is popular, our method of budgeting your money will be more helpful.
Learn how to divide your income into various categories.
Check out the Cents Plan Formula.
33. Use Cash
Use cash instead of credit cards to spend, which will make it easier to limit yourself to how much you can spend.
The envelope system helps you save money by only spending from one designated cash stash each month and withdrawing a set amount for different types of expenses (like groceries).
34. Spending Freeze
Implement a spending freeze, which helps you get used to not buying things for an allotted time so that when the freeze is over, it’s easier to buy what you want.
You will be surprised how much random online shopping you do.
Begin your spending freeze now.
35. Use a Budgeting App
Use your bank’s budgeting tools, like Quicken, which can help you track how much money is coming in and out of your account.
This is the simplest way to manage your money wisely.
Using a money app or a personal finance website can help you to stay organized and get more creative about your budgeting.
Check out this list of the best budgeting apps available.
Hacks to Make Money
Hacks to make money are a list of ways to generate income for yourself. Many ways to make money include blogging, affiliate marketing, or day trading. These money making hacks are great, but they can take more time and energy invested.
36. Use cash back apps
Cash back reward apps like Ibotta are a way to get extra money for your purchases.
They take some time getting used to and you only have access to partner stores that offer cash-back offers. It only takes a few seconds to make some extra cash.
Check out the best cash back apps available.
37. Ask for a Raise
A raise is an increase in pay for a job, labor, or service.
If you are concerned about asking for a raise, then you are missing out on lost money.
Your boss may be receptive to it, then try negotiating more money. Not only will this be good for your career, but also the relationship between you two can improve as well.
38. Get a side hustle
A side hustle is an additional job or career, usually, one that requires only a small amount of time and effort.
For example, someone who wants to work on the weekends might start a side hustle as a bartender.
Side hustles are a form of entrepreneurship that allows you to earn money and do little tasks. They are not difficult or time-consuming, but they can still help you make extra cash on the side.
Pick one of the best gig economy jobs.
39. Rent out a part of your home
A part of your home is often a room, which can be rented out on Airbnb.
Airbnb is the largest and most successful company in the world that lets people rent their extra space or properties. They are a well-known company that provides an easy way for people to make money from their extra space.
Use Neighbor to lend out your space in your home.
40. Declutter: sell your junk for cash
Decluttering is the act of getting rid of excess or unnecessary items.
In order to declutter, you must be willing to give up something that has been a part of your life for a long time. It is important to remember that decluttering does not have to be a quick or easy process.
Then, sell your stuff on Facebook Marketplace, Nextdoor, eBay, etc.
Learn more at Flea Market Flippers.
41. Earn Money While Watching TV
Although it is not a fast way to get rich, this can be used as a side hustle.
It’s better to use the money earned from watching TV or something else that takes up your time for other things like bills and groceries.
Survey platforms are online sites that allow people to earn money while watching TV.
The survey platform will send surveys through the mail or email, and then they can choose whether they want to take the survey for a set reward amount or if they would like cash back on their purchase.
One of these options is MyPoints, which allows users to earn points by completing tasks such as taking surveys and shopping online at specific retailers.
Others include:
42. Maximize Your Income
Find ways to increase the amount of money you bring in, whether that’s through a side hustle, increasing hours at work, or asking for a raise.
In today’s society, there are plenty of ways to make more money.
Only you put a limit on what you are capable of earning.
43. Build Your Credit
Building your credit can be a long process, but it’s worth the effort. If you’re trying to establish or improve your credit score, here are some tips that might help:
Try to keep your credit utilization rate below 30% at all times.
Do not open too many new lines of credit in a short period of time.
Pay your bills on time.
This will help you avoid damaging your credit score.
Hacks for Free Money
Hacks for free money are a form of fraud wherein the perpetrator solicits payment via PayPal, credit card, or other methods in exchange for access to what they promise will be a legitimate business opportunity.
Hacking free money is a way to make more cash, fund your financial goals, or help you pay off debt. There are lots of ways that people hack their finances and use cash back apps for some extra income.
Other options include signing up for bank bonuses or credit card bonuses.
Honestly, real free money hacks are more likely to be scams. So, beware when searching online.
Money Hacks in the Kitchen
You can save the most money by looking at what you eat.
Typically, people waste over 25% of their grocery budget and throw out food. Would you willingly throw out $250 a month? Probably not.
So, learn how to stretch your money for food.
44. Start meal planning
Meal planning is a money-saving strategy that can help in the long run. It’s also important to eat healthily and reduce food waste when meal planning.
But planning ahead will help save on the grocery budget, and it’s not too late to start now.
Start meal planning by deciding what you want to eat for each day. Then, make a list.
45. Say no to prepackaged foods
Packing your lunch for work or school can be time-consuming, especially if you have a family.
Some people prefer to buy prepackaged foods because they save time, but this is not always the best option.
A better choice is to make your own food at home and pack it for lunch, which you can then eat in peace without worrying about what other people might be saying about the food you packed.
46. Eat at home
Eating at home is a way to save money. It may be uncomfortable for those who do not enjoy cooking as it requires extra effort and time.
Instead of getting food at restaurants, consider cooking your favorite meals at home.
You can save money and time by eating the same meal over and over again.
Learn about the frugal home must haves.
47. Grow your own herbs and food
The most common methods of gardening include container gardening, hydroponics, and both indoor and outdoor gardening.
Many people are growing their own herbs and food for the satisfaction of being able to eat something that was grown with their hands.
48. Take your lunch
If you are interested in saving money, consider taking your lunch. This will save you up to $1,000 a year on work lunches and make it easier to meet the recommended daily intake of fruits and vegetables as well.
“Take your lunch” is an invitation to eat at home. There are many benefits of eating out less often, such as saving money and gaining more control over food choices.
Travel Hacks to Save Money
The following are travel hacks that can help you save money on your next trip.
Some of these hacks include traveling during weekdays, using public transportation, staying at hostels and Airbnb instead of hotels, and using a travel credit card.
49. Use foreign websites for lower prices abroad
Foreign websites are websites that have been created by people from other countries, and they sell products in the language of their country. These websites often offer lower prices on products than what is offered in the United States.
If you’re traveling abroad and need to find a place to stay, there are plenty of websites that can help. A few websites have deals on places where travelers often stay while they travel internationally.
50. Stay for free or get paid to house sit abroad
A house sitter is someone who looks after someone’s property for a certain amount of time in exchange for the promise of payment.
House sitting is typically offered by homeowners to travelers and others who are looking to stay in a particular location for an extended period of time.
The main types of house sitting include:
– full-time house sitters, who are responsible for all aspects of the house and who are typically paid a monthly salary,
– part-time house sitters, who may be responsible for taking care of one or more specific tasks such as gardening or handling the mail
51. Hide your search
To avoid being taken advantage of by airlines, it is best to open a new incognito or private window between searches.
This will make sure that you are not tricked into buying tickets that may be significantly more expensive than they need to be.
Airlines use cookies in your browser to make you believe the prices are going up and up.
Money App Hacks
Money app hacks are ways that people have figured out to make their money work for them in terms of saving and spending. These apps offer different features, such as budgeting, tracking your spending, and saving money.
If you want a simple way to save money, then any of these money apps are designed to find excessive spending.
52. Billshark
This is a legitimate way to save money on monthly bills. Billshark offers you the opportunity to save up to 25% each month (when compared with regular bill payments).
All of this can be done for you by BillShark team, and there are no fees involved!
Try Billshark for free!
53. Trim
Review your spending habits to find what you can cut out, like subscriptions.
Find other ways to save by looking for ways to reduce costly bank fees or getting a discount on your cell phone plan. By using Trim, you are saving money and improving your financial health.
Sign up with Trim now.
54. Truebill
Truebill can help you to track your spending, save money and get a clear picture of your financial life.
This helps you identify services that you are no longer using but continue to pay for. It will help save money by automatically negotiating prices with your service providers and receiving a refund of the money going to waste, which is free money.
Get started with Truebill.
Which Life Money Hacks Can You Start?
This is a lot to take in, but don’t worry.
Take the time to read through each suggestion and consider how you can implement it into your life.
The more hacks you try out, the closer you’ll get to a healthy financial mindset.
These are the life hacks to save money I have found to work for me and my family in order to reset our financial mindsets and grow our net worth.
Everyone will find their niche and what will work best for them.
Personally, you need to figure out how do I make more money. That will make the biggest impact the fastest.
What have you done with your money lately?
Know someone else that needs this, too? Then, please share!!
“Wanna see something neat?” Kris asked the other night. She was holding the year-end statement from her work-based retirement plan.
“Sure,” I said. “Show me the money.”
She handed the statement to me. “Look at my account balance,” she said. “Look how it’s grown. It went down a little bit in 2008, but because I kept contributing, the balance has gone crazy during the last two years.”
Kris’s retirement account took a hit in 2008, but rebounded in 2009 and 2010.
“How do you earn such great returns?” I asked. “I’ll bet readers at Get Rich Slowly would love to hear.”
“Well, it’s not just investment returns,” Kris said. “A lot of that growth is because I save so much. I max out the allowable contribution in this account. I started by contributing 8% of my gross [pre-tax] pay. When I got my raise the next year, I bumped that to something like 10%. Then 12% with the next raise. And so on.”
“What percentage do you contribute now?” I asked.
“I’m not sure,” she said. “Last year, I did the max, which is $16,500 a year. I’d contribute more, if they’d let me, but they don’t, so I just invest it elsewhere. Like my Roth IRA and my mutual funds.” (All of Kris’s investments are in mutual funds, but she calls one particular account her “mutual funds”.)
Kris smiled. “Pretty cool, huh?” she said. Yes. Yes, it is. Pretty cool, my savvy wife.
There are a number of great lessons here — including the wisdom of sticking with an investment plan even during a down market — but one in particular stands out. Kris’ experience highlights the most important piece of the retirement savings puzzle: The number-one factor in determining how much you’ll have at retirement is the amount you save. Please re-read that sentence, because it’s not really as obvious as it may sound.
The economy, your choice of funds, your tax bracket — all of these play a role in your final retirement balance, but none of them is as important as how much you’ve actually set aside. All of the compounding in the world won’t help you if you never save any money. But if you consistently save as much as you can, you’ll be better able to weather market downturns — and take advantage of bull markets like the one we’ve enjoyed the past two years. The more you save now, the more you’ll have when you need it.
The National Economy vs. Your Personal Economy
Last January, Get Rich Slowly and MoneyRates asked readers of both sites for their opinion about the current state of the economy. Over 1200 people responded. This January, we asked the same question and received nearly 2100 answers. The results are certainly un-scientific, but they’re interesting:
Where do you think the economy sits right now?
Strong growth. Full steam ahead! 2010: 2%, 2011: 3%
On solid ground and growing some, thank goodness. 2010: 15%, 2011: 26%
Stagnant. Not growing, but at least not getting worse. 2010: 43%, 2011: 39%
Not horrible, but looks like it’s going downhill. 2010: 20%, 2011: 17%
Free falling. I’m bracing for the worst. 2010: 21%, 2011: 15%
Regardless of the state of the national economy, it’s important to remember that ultimately, you are responsible for your personal economy. When times are flush, you need to set something aside for the future – be it through a retirement savings plan, savings account, or other method. Then, when things turn dark and dismal, you’ll be better shielded from the slings and arrows life hurls your direction. My wife, for example, has done a fine job of ignoring the world at large while trying to improve her own situation.
It’s been a while since I stressed this point, so let me repeat what I’ve said before. A strong personal economy is built on personal-finance fundamentals such as these:
Clear financial goals
An adequate emergency fund
Limited use of debt
The practice of thrift
Smart investing for the future
The national economic situation will affect our personal financial decisions to some degree. When unemployment soars, it’s important to maintain an adequate emergency fund and to limit your use of debt. When the stock market is down, you need to understand your investment objectives, and how these relate to your risk tolerance and your investment timeline. (And when the stock market is up — as it is now — you need to ask the same questions.)
Ultimately, all you can control are your personal finances. Take matters into your own hands: Save for retirement today.
A positive retail sales report is signaling to investors that the U.S. economy is in solid shape. That’s causing more money to flow out of stocks and into bonds, pushing up Treasury yields and mortgage rates.
This upward momentum is something we expect to continue, which is why we’re recommending that borrowers take action on a purchase or refinance soon. Read on for more details.
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Market Outlook 5.14.18 from Total Mortgage on Vimeo.
Where are mortgage rates going?
Treasury yields rise after strong retail sales report
The big market moving news that’s making the rounds this morning is the positive readings in the retail sales report.
While the April numbers did come in at levels right around where analysts had projected, it was the revisions to the March report that really got investors riled up.
The already strong 0.6% rise in March got bumped up to 0.8%, along with upward revisions to all of the other readings as well.
Retail sales are an important measure of the U.S. economy as it reflects how willing consumers are to part ways with their spending money.
With a strong report like the one out today, it shows that the U.S. economy is in fairly good shape.
That signals to investors that they can take on slightly more risk, meaning they move more into stocks and out of safer assets like government bonds.
If we look at the yield on the 10-year Treasury note, which is the best market indicator of where mortgage rates are going, we can see that it’s up over six basis points today to 3.06%.
Mortgage rates typically move in the same direction as the 10-year yield so they’re experiencing some upward pressure today.
Rate/Float Recommendation
Locking now is likely the smart move
As expected, mortgage rates have begun to move higher once again. This is a trend that we expect to continue for the coming weeks and months as the Federal Reserve continues to tighten the nation’s benchmark interest rate.
If you’re considering buying a new home or refinancing your current mortgage rate, it definitely makes sense to take action sooner rather than later, as it’s far more likely rates will be higher than lower in a few months.
Learn what you can do to get the best interest rate possible.
Today’s economic data:
Retail Sales
Retail sales rose 0.3% month over month
Retail sales less autos rose 0.3% month over month
Retail sales less autos and gas rose 0.3% month over month
Empire State Mfg Survey
The Empire State Index hit a 20.1 for May. That’s up about six basis points from the April reading.
Business Inventories
Business inventories remained flat in March.
Housing Market Index
The housing market index ticked up to a 70 for May. That’s a strong reading that points towards optimism among the nation’s home builders.
Notable events this week:
Monday:
Tuesday:
Retail Sales
Empire State Mfg Survey
Business Inventories
Housing Market Index
Wednesday:
Housing Starts
Fedspeak
Industrial Production
Atlanta Fed Business Inflation Expectations
EIA Petroleum Status Report
Thursday:
Jobless Claims
Philadelphia Fed Business Outlook Survey
Bloomberg Consumer Comfort Index
Fedspeak
Friday:
*Terms and conditions apply.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
Boston is a vibrant and historic city that offers a great quality of life for apartment renters. The city is known for its rich culture, world-class universities and thriving economy, making it an attractive destination for students and young professionals. The city is home to a diverse population, and its neighborhoods offer a variety of housing options, ranging from modern apartments to historic brownstones.
One of the advantages of living in Boston as an apartment renter is the city’s excellent public transportation system, which includes subway trains, buses and commuter rail lines. This makes it easy to get around the city and explore all that Boston has to offer, including its famous landmarks, museums and cultural events.
Additionally, Boston is a walkable city, with many neighborhoods offering easy access to shops, restaurants and other amenities. While Boston is an expensive place to live, there are many reasonably priced apartment options available, and the city offers a high quality of life for those who choose to call it home.
What is the average price of rent in Boston?
The average rent for a one-bedroom apartment in Boston is around $2,500 per month, while the average rent for a two-bedroom apartment is around $3,200 per month. It’s worth noting that these prices can vary depending on the location and the amenities of the apartment, and they can change over time due to market conditions and other factors.
Where to live in Boston for $3,000
Between the access to public transportation, the city vibe and the perfect blend of sports and academia, renters of all interests can expect to make a home out of Boston. We’ve rounded up our top picks for Boston apartments at or under the $3,000 price tag, without sacrificing any amenities.
Source: Rent. / The Parkside Luxury Apartments
For $1,950, you can get a 223-square-foot studio at The Parkside Luxury Apartments. You have two layouts to choose from for this price but the apartment certainly doesn’t lack the luxury details. Each apartment has hardwood floors, crown molding and granite countertop finishes.
The Parkside Luxury Apartments sits in the popular neighborhood of Fenway, known for hosting the baseball team the Red Sox. This well-known neighborhood adds curb appeal to the apartment and promises luxury inside as well as outside on the block.
Source: Rent. / The Residences at Rivers Edge
Your social life will flourish in the community-building-centric apartment. The Residences at Rivers Edge offer studio apartments for $2,982 which feature dark hardwood finishes and luxurious balconies for outdoor entertaining. Beyond the apartment, residents are assured plenty of common areas to utilize for work and play.
Nestled in the vibrant neighborhood of Wellington, this 222-unit community offers an ideal location for Bostonians of all ages to enjoy a diverse range of amenities and convenient access to the city’s attractions. With its modern design and welcoming atmosphere, residents can experience the perfect blend of comfort and urban living here.
Source: Rent. / The Towers at Longfellow
Soak in the stunning sights and sounds of Boston on the apartment balconies at The Towers at Longfellow where residents can enjoy breathtaking views of the city skyline and the Charles River. Whether it’s sipping morning coffee or unwinding with an evening cocktail, these balconies provide an oasis to truly experience relaxation.
This West End property is perfect for residents trying to stay under the $3,000 price tag, with studios starting at $2,735, allowing renters to find affordable luxury in the heart of Boston. Alongside the affordable pricing, the unique amenities offered by this property, such as a rooftop pool and fitness center elevate the renting experience.
Source: Rent. / The Emery at Overlook Ridge
Host your next book club or wine night around the communal firepit at The Emery at Overlook Ridge. One-bedroom apartments start at $2,479 for 711 square feet, top-of-the-line appliances, hardwood finishes and smart-lock technology. Whether it’s through the in-apartment design or building amenities, residents enjoy both indoor and outdoor spaces designed for comfort and entertainment.
Sat in West Revere, this complex is ideal for any renter no matter their preferences, offering a diverse range of studio and one-bedroom floor plans to cater to individual needs, whether one seeks a spacious apartment with scenic views or a cozy unit with a luxury feel. With its prime location and versatile options, this complex provides a welcoming community that suits the diverse tastes and lifestyles of its residents.
Source: Rent. / One Canal Apartment Homes
Waking up every day to the luxurious view of the West End neighborhood is a deluxe amenity in itself. For the price of $2,917, renters can live in a cozy studio apartment surrounded by amenities such as a state-of-the-art fitness center and a rooftop terrace and pool ensuring that the investment is worthwhile and provides an ideal city lifestyle.
One Canal Apartment Homes, which holds 320 units, is a renovated and modern apartment complex with a mix of traditional amenities and unique apartment features, such as spacious walk-in closets and gourmet kitchens. With a blend of crisp white and dark hardwood finishes, the apartments create a stylish and comfortable living environment for its residents.
Source: Rent. / Avalon Brighton
If clean and modern is your desired apartment aesthetic, look no further than Avalon Brighton. With its prime location in the neighborhood of St. Elizabeth’s, near bustling shopping centers and convenient access to public transportation, Avalon Brighton offers both style and convenience for those seeking a contemporary urban living experience.
Studio apartments, starting at $2,930, feature top-of-the-line appliances, quartz countertops and stylish finishes, creating a chic and sophisticated atmosphere under the $3,000 price tag. The worthwhile experience extends beyond the apartment through the unique amenities like an on-site dog park and indoor firepit.
Source: Rent. / Troy Boston
Natural light is the star of the show in the apartments at Troy Boston, where residents are immersed in the sights and sounds of the vibrant South End neighborhood through the expansive windows and balconies. Residents also enjoy a range of amenities including a rooftop pool, fitness center and communal spaces which further enhance their living experience.
Studios, which start at $2,950, span over a 425 square-foot space that while small, maximizes functionality and provides residents with a comfortable living environment, making efficient use of every square foot. They are worthy of a spot on our list due to their modern finishes, including sleek appliances, high-quality fixtures and ample storage solutions, making the small space feel larger.
Source: Rent. / Hub 25
Joining a community when you rent an apartment is important and the amenities at Hub 25 offer that. From the social lounge and outdoor grilling areas to the fitness center and dedicated co-working spaces, residents have ample opportunities to socialize, unwind and engage in activities that create an inclusive living environment.
This Columbia Point property has studios starting at $2,457 and one bedroom starting at $2,712, offering residents a range of affordable options under the $3,000 budget. This ensures any resident can find their ideal living space without compromising on quality or location.
Source: Rent. / Piano Craft Guild
Renter creativity has the perfect canvas in the apartments at Piano Craft Guild. The stunning lofted apartments, which start at $2,900, have a mix of rustic brick and modern wood finishes that provide a unique backdrop for residents to personalize their living spaces and express their individual style. The floor-to-ceiling window details overlook the neighborhood of South End, adding to the overall apartment value.
The unique vibe of these lofts continues into the common spaces through the amenities like the outdoor bocce ball area, indoor bike storage rack and communal garden. These areas foster a sense of community and provide residents with opportunities to relax, socialize and engage with fellow renters.
Source: Rent. / Emerson Place
At first glance, the outdoor pool area at Emerson Place mimics a luxury hotel or outdoor spa, creating an oasis where residents can unwind and soak up the sun. For the starting price of $2,860 for a studio apartment, renters not only get a luxury apartment but also gain access to stunning communal amenities.
Emerson Place, which sits in the neighborhood of West End, offers residents the perfect balance of savvy spending and convenience, with its close proximity to restaurants, shopping destinations and cultural attractions. Emerson Place provides a sophisticated and welcoming home for those seeking a vibrant urban lifestyle in the heart of Boston for under the price of $3,000.
Find your perfect apartment for under $3,000
Boston offers a variety of exceptional apartments for those seeking stylish and comfortable living spaces without breaking the bank. These apartments not only provide affordable luxury but also have desirable amenities, such as rooftop pools, fitness centers and communal spaces, fostering a strong sense of community and enhancing the overall living experience.
With their prime locations and modern designs, these apartments present the perfect opportunity to enjoy the vibrant and enriching lifestyle that Boston has to offer, all within a reasonable budget. Start your apartment journey today!
Featured Image Source: Rent. / One Canal Apartment Homes
Methodology
Rent prices are based on an average from Rent.’s available rental property inventory as of April 2023. The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.
The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.
CrossCountry Mortgage (CCM), the nation’s third-largest retail mortgage lender, unveiled its latest initiative this week that is aimed at helping first-time homebuyers overcome the financial hurdles of purchasing a home in today’s competitive housing market.
The CCM Smart Start program will provide eligible individuals with up to $4,000 in down payment assistance, granting them additional purchasing power.
“Saving for a down payment can be a huge obstacle for first-time homebuyers,” CCM Chief Operating Officer Jenn Stracensky said. “CCM Smart Start allows homebuyers to put less cash down, keep more savings intact, and have more money to build their future.”
The program covers 2% of the down payment, providing assistance of up to $4,000, and comes with certain requirements. At least one occupying borrower must be a first-time homebuyer, and the applicants must have an income at or below 80% of the county area median income (AMI).
To determine eligibility for the CCM Smart Start program or obtain further information, individuals are encouraged to reach out to a CCM loan officer.
CrossCountry Mortgage is the nation’s third-largest retail mortgage lender, with a network of nearly 600 branches across all 50 states and over 7,000 employees. The company’s growth and culture have been acknowledged nine times on the Inc. 5000 list of America’s fastest-growing private businesses.
CCM offers a range of over 120 mortgage, refinance, and home equity solutions, including conventional and jumbo mortgages, as well as government-insured programs for veterans and rural homebuyers. The company is also a direct lender and an approved seller and servicer by Freddie Mac, Fannie Mae, and Ginnie Mae.
This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.
Mortgage rates have moved up slightly this week. They are still hovering in the tight range that they’ve been in for the past couple of months, but we did see a modest nudge higher. If you’re considering a purchase or a refinance, we believe the smart move is to lock in a rate soon. Read on for more details.
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Market Outlook 7.9.18 from Total Mortgage on Vimeo.
Where are mortgage rates going?
Mortgage rates nudge higher
It’s been a fairly uneventful week (unless you count the drama in the World Cup), keeping mortgage rates from moving too far in either direction. Long-term Treasury yields have moved up and down, but are ultimately resting at levels very close to where they were at the start of the week.
In the headlines, analysts are still talking about the global trade war that is taking place, with the U.S. and China being the main players here. It’s definitely an interesting situation at the moment because no one really knows exactly where we are headed.
What we can say, though, is that with the inflation readings this week coming in at strong levels and last week’s monthly jobs report showing a healthy labor market, the Federal Reserve is posed to continue raising the nation’s benchmark interest rate.
This might not put immediate upward pressure on mortgage rates, but as we move through the third and fourth quarter this year it is reasonable to expect mortgage rates to increase.
We did get the Freddie Mac Primary Mortgage Market Survey (PMMS) today, which showed that rates inched higher. Here are the numbers:
The average rate on a 30-year fixed rate mortgage moved up one basis point to 4.53% (0.4 points)
The average rate on a 15-year fixed rate mortgage moved up three basis points to 4.02% (0.4 points)
The average rate on a 5-year adjustable rate mortgage increased twelve basis points to 3.86% (0.3 points)
Here is what the Economic and Housing Research Group at Freddie Mac had to say about rates this week:
“Mortgage rates were mostly unchanged, but did tick up for the first time since early June.
The 10-year Treasury yield continues to hover along the same narrow range, as increased global trade tensions are causing investors to take a cautious approach. This in turn has kept borrowing costs at bay, which is certainly welcoming news for those looking to buy a home before the summer ends.
A record number of people quit their job last month, most likely for a new opportunity with higher wages and better benefits. This positive trend, along with these lower mortgage rates, should increasingly give some previously priced-out prospective homebuyers the financial wherewithal to resume their home search.”
Rate/Float Recommendation
Lock now before rates rise
Given that mortgage rates are expected to rise over the coming weeks and months, we believe the smart move for most borrowers is going to be to lock in a rate sooner rather than later.
The longer you wait, the more likely it is that you will be locking in a higher rate. It only takes a few minutes or a quick phone call to get started.
Learn what you can do to get the best interest rate possible.
Today’s economic data:
Consumer Price Index
The Consumer Price Index for June rose 0.1% from the previous month, putting it at a year over year change of 2.9%. CPI less food and energy rose 0.2% month over month, putting it at 2.3%, year over year. The monthly reading for June is notable in that it’s a six-year high.
Jobless Claims
Applications filed for U.S. unemployment benefits came in at 214,000 for the week of 7/7/18. That puts the four-week moving average at 223,000. It’s a drop of 18,000 from the previous week.
Fedspeak
Philadelphia Fed President Patrick Harker at 12:15pm.
Minneapolis Fed President Neel Kashkari at 8:00pm.
Notable events this week:
Monday:
Tuesday:
NFIB Small Business Optimism Index
JOLTS
Wednesday:
PPI-FD
EIA Petroleum Status Report
Fedspeak
10-Year Note Auction
Thursday:
Consumer Price Index
Jobless Claims
Fedspeak
Friday:
Consumer Sentiment
Fedspeak
Import and Export Prices
*Terms and conditions apply.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
This 1975 design, inspired by midcentury modern architect John Lautner, is flawless. And the home’s workmanship and materials, which include premium wood, glass, and stone, are impeccable.
The list price for this slice of paradise is $4,995,000; but if you’d rather try before you buy, you can lease the three-bedroom, 3.5-bath, 3,000 square-foot home for $17,500 a month.
And the location, nestled in its own private Bel Air canyon off Beverly Glen, is surprisingly convenient.
The home last sold in 2021 for $3,175,000.
Its extensive glass walls, skylights, and cantilevered bedroom wings set it apart from all others.
“This home has this charming feel to it, with incredible energy,” says Daniel Milstein, who is listing the property with Aaron Kirman, both of AKG | Christie’s International Real Estate. “If you want to live in a private nature oasis, yet close to the sights and sounds, this is it. The incredible architecture is breathtaking and works perfectly in this unique, abundant space.”
The impressive, wood-clad entry leads to an airy, two-story great room, illuminated by skylights and crowned by the second-floor gallery.
The lovely dining area is adjacent to an upgraded chef’s kitchen, where more windows flood the space with natural light.
Up the winding, modern staircase, there’s a glittering master suite with spa amenities. Further up, there is a third-floor landing with a guest suite and private deck.
Multiple decks, balconies, dining areas, and terraces beautifully mesh together this hillside home with its grassy yard and outdoor spaces.
And while many of its virtues are apparent to the naked eye, the house has a whole slate of hidden, high-tech features— a smart home system, automated lighting, a built-in sound system, and automatic blinds, which are essential in a home with this many windows.
MSR Valuation, Non-QM, DPA, Mobile Property Valuation Tools; What’s the Fed Chair Up To? New-Home Housing Market List
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MSR Valuation, Non-QM, DPA, Mobile Property Valuation Tools; What’s the Fed Chair Up To? New-Home Housing Market List
By: Rob Chrisman
Thu, Jun 22 2023, 10:16 AM
“So, HBO Max is now just ‘Max.’ Your move, Peacock.” Lenders continue to cogitate on their next moves as rates remain stubbornly high and inventory available for sale stubbornly low, and neither appears ready to change much any time in the near future. As I continue to visit with groups of lenders and vendors, lender’s overhead, and how comp figures into that, continues to be a hot topic. STRATMOR’s current blog is titled, “Compensation: Ever Changing,” and I asked STRATMOR CEO Lisa Springer about what lenders are doing in that area. “Lenders in increasing numbers are reaching out to STRATMOR to advise on compensation strategies from a holistic point of view, seeing how changes fit within the entire company. Management teams are thinking about structural changes and capitalizing on the opportunity to create win-win comp programs for both the employees and the companies.” In housing and inventory news, a recent real estate report from Zillow predicts 5% growth in home values this year. Housing inventory remains limited, which in turn continues to push property prices skyward and inflate home value appreciation. And sure you can read this list of hot new-home markets, and may even have branches in them, but do you have the products to offer those buyers? (Today’s podcast can be found here and this week’s is sponsored by MCT and its Hedge Advisory division. Download their recently released whitepaper, Mortgage Pipeline Hedging 101, for more information on hedging in today’s market. Today’s has an interview with Optifunder’s Carmel York that goes through a comprehensive overview of the warehouse lending space and current environment.)
Broker and Lender Services, Products, and Software
“Home equity lenders need fast, reliable, and objective property valuations to streamline processes, lower origination costs and deliver a better borrower experience, all while mitigating risk. This is a tough balancing act, but Black Knight can help. Our innovative mobile app – Validate – simplifies the property valuation process for home equity loans and lines of credit. Validate combines artificial intelligence, a condition-adjusted AVM and up-to-date property data with borrower-supplied property photographs to automatically determine a property’s value and the available equity. With Validate, lenders can save time and money, increase valuation accuracy, manage risk, and provide a better consumer experience. Learn more by scheduling a demo today.”
For many people, homebuyer assistance programs can make the difference between building wealth by making fixed mortgage payments or being subject to the ever-increasing cost of rent. This National Homeownership Month, Jackie, a single woman in the greater Tampa area, shared the story of how mortgage broker Pam Marron of Innovative Mortgage Services helped make her homeownership dreams a reality by pairing Pasco County Community Development’s DPA offering with Freddie Mac’s BorrowSmart program. Down Payment Resource made it easy for Pam to identify best-fit programs, understand requirements upfront and maximize the assistance she could provide Jackie. Learn how Down Payment Resource can help you be a community hero while filling your pipeline with eager first-time homebuyers.
“The Newrez Correspondent team would like to thank all of our lenders and industry partners who took the time to meet with us in NYC for the annual Secondary and Capital Markets Conference and Expo. It is a testament to the team and industry as we came together and discussed ways to navigate this fluctuating market. As a top-tier aggregator, our offering provides the product, pricing, and service our clients need to succeed and grow their business. Looking for Non QM? Our industry-leading Smart Series products are now available through LoanNEX. This product and pricing eligibility platform is available at no cost to our correspondents. Contact your regional sales manager to learn more! Believe it or not, we are only a little over 120 days from the National MBA Convention in Philadelphia. Save the date – We will have meeting space at the Loews Hotel – Stay tuned for more details as we prepare to take on the city of brotherly love! As always, thank you to our customers for their time, business, and partnerships!
Do you have a servicing portfolio? Do you understand how it is valued? With the decline in overall production, the MSR asset has become more critical than ever and effectively managing that asset demands ongoing oversight. MCT offers portfolio valuations that are accurate and easy to understand, with built-in safeguards focused on client and borrower data security. MCT’s fair value analysis and reports are customized to support servicer’s internal requirements and objectives, and extensive number of clients and MSR market knowledge keep your valuations timely, accurate, and reliable. Schedule a phone call with the MCT MSR experts to discuss a customized approach for valuing your MSR portfolio.
Non-Agency and Non-QM News
Sure, non-Agency production remains far below 10 percent of overall volume. But many programs are an important part of an LO’s offering to potential borrowers, and no LO wants to tell a client, “I can’t help you. But this other lender may be able to.” Let’s take a random look at what’s new out there.
Skip the pay stubs with Bank Statement Loans from the Industry’s Leader in Non-QM Solution Lending, Carrington Correspondent. Self-employed borrowers can use 12 or 24 months of bank statements to verify income and secure loans up to $3.5 million.
Summer Specials are in season at LoanStream. BPS’ off on some Government products and Non-QM: Full Doc, Alt Doc & DSCR.
Are your borrowers’ tax returns leaving them with too little income to qualify? Large amounts of tax write-offs can disqualify your borrowers from standard agency and Jumbo transactions. Champions Funding’s Activator loan option may be the perfect fit for those situations without the hassle of submitting tax returns. Now offering ITIN loans for non-U.S. Citizens.
Unite Mortgage, a DBA of Home Mortgage Alliance Corporation (HMAC), is offering the perfect program for borrowers looking to take cash out of their home but don’t want to refinance their 1st mortgage due to having a low-rate locked in. Mortgage Brokers… The 2ND Mortgage Program from Jet Mortgage is here. Contact Aaron Hilton at 623-252-0606 or send an email to [email protected]. Need a Bank Statement income analysis done? Click here and choose Aaron Hilton as your AE. Interested in learning more? Check out the Prime Seconds Matrix and Rate Sheet.
Champions Funding is 100% Non-QM with a dedicated underwriting team to move your files from submission to funding with ease – and GREAT communication. In a recent product update, Champions increased the Max LTV/CLTV by 5% on the Accelerator No Ratio (DSCR <.75) loan products at Champions Funding. Minimum 700 FICO to qualify with maximum loan amount up to $1 Million.
Capital Markets
In an about-face move, markets are seemingly succumbing to the Fed’s “higher rates for longer” projections to reduce U.S. growth to below its long-term trend and contain price pressures, with pricing in fed funds futures suggesting one additional 25 basis points hike at the July Federal Open Market Committee meeting and then holding firm at that level through the end of the year as the most likely outcome. Echoing his comments at the post-FOMC press-conference, Fed Chairman Powell delivered the first part of his two-day semiannual Humphrey-Hawkins testimony on monetary policy to Congress yesterday, telling the House Financial Services Committee in prepared remarks that “there is still a long way to go” in reducing inflation and that most FOMC members expected that further rate hikes are needed this year to thwart persistently high inflation.
Which all reminds me… The semiannual testimony of the U.S. Federal Reserve Chairman to Congress is commonly referred to as the Humphrey-Hawkins testimony in reference to the Humphrey-Hawkins Full Employment Act (the Full Employment and Balanced Growth Act of 1978). The bill was named after its primary sponsors, Senator Hubert Humphrey and Representative Augustus Hawkins, and was enacted with the goal of promoting full employment and stable prices in the U.S. It mandated the Federal Reserve to pursue maximum employment and stable prices as part of its monetary policy objectives.
Additionally, the Act required the Chairman of the Federal Reserve to provide regular reports and testify before Congress on the state of the economy (including the outlook for inflation, unemployment, and economic growth), discuss the central bank’s monetary policy decisions, and answer questions from members of Congress. The term “Humphrey-Hawkins testimony” became popularized as a shorthand way to refer to these semiannual appearances by the Federal Reserve Chairman to discuss the economy and monetary policy with Congress, in accordance with the requirements of the Humphrey-Hawkins Act. And Powell certainly put the “hawk” in Hawkins yesterday.
Fed Chair Powell’s main points were threefold. The inflation target of 2 percent is the goal the central bank intends to get back to, and though inflation has declined over the past year, we have a long way to go to get back there. The Summary of Economic Projections (“dot plot”) sees no rate cuts this year while market forecasts are (still, and likely wrongly) calling for a chance of one at the December meeting. Price stability comes first as a lousy currency negates all the work on the employment part of the Fed’s dual mandate. As Powell said in a recent presser, “Without price stability, the economy doesn’t work for anyone. In particular, without price stability, we will not achieve a sustained period of strong labor market conditions that benefit all.”
Today’s calendar contains three central bank decisions where more rate hikes are expected: the Swiss National Bank (SNB), Norges Bank, and the Bank of England (+ 50 basis points). The (busy) U.S. calendar is under way with the Chicago Fed National Activity Index for May, as well as weekly jobless claims (264k, roughly as expected and unchanged from last week, 1.759 million continuing claims: the labor market is still tight). Later today brings May existing home sales, May leading indicators, KC Fed manufacturing for June, a Treasury auction of $19 billion reopened 5-year TIPS, and Freddie Mac’s Primary Mortgage Markets Survey. Today is also loaded with Fed speakers including Chair Powell’s visit before the Senate Banking Committee, but also Governor Waller, Governor Bowman, Cleveland President Mester, and Richmond’s Barkin. The narrative since last week’s meeting is that the FOMC is trying to figure out whether it has done enough and how much more tightening is needed. After yesterday’s seesaw of rates rallying hard after selling hard, which eventually took us back to flat on the day, we begin Thursday with Agency MBS prices unchanged from Wednesday night, the 2-year at 4.71, and the 10-year unchanged 3.72 percent.
Employment
“Behind the scenes at Sagent! As we continue building the team to propel our vision and mission for the industry, it’s important to also recognize the existing (and powerful) team that have been supporting us since the beginning of our future-of-servicing journey. Meet Greg Lane (Director, Financial Analysis), finance + accounting aficionado, and according to him, “It doesn’t matter what the numbers are supposed to do, whether it’s investments, foam pricing (you’ll have to read to find out why this is relevant), or fintech software FP&A, it’s what I like to do.” But there is so much more to Greg than pricing and forecasting revenue. Greg is a loving husband, father, pet owner, golfer. While in college, he scored an internship in Beijing for 3 months supporting a sole distributor for European beverage brands. Check out our latest employee spotlight piece for a glimpse into Greg’s world and what it’s like to be a part of Team Sagent.”
Are you frustrated as a retail loan officer or mortgage banker with the lack of flexibility to provide custom loan options? Take control: follow the lead of thousands of MLOs like you who have joined the wholesale channel in the last year. Whether you open your own independent mortgage brokerage or join a team as a loan officer, you’ll have the ability to provide your clients with the personalized solutions they need. Contact our team at BeAMortgageBroker.com today and you’ll be well on your way to a more fulfilling tomorrow.
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Contrary to what one might assume, United Airlines has more classes than just first, business, premium economy and economy. In fact, each of those cabins is divided into multiple fare classes, all designated with a different letter.
While it might seem like alphabet soup, the airline can use fare classes to know how and when you booked your ticket and how to upgrade it — if that’s what you want to do.
Let’s take a look at the United fare class chart, how to find the fare class on your ticket and why it’s smart to pay attention to your fare class in the first place.
What is a fare class on United?
All United cabins of service are divided into fare classes — sometimes called fare buckets — to keep track of the number of tickets sold on each flight as well as which seats are still available.
For example, if you’ve ever found a great deal on airfare and then the price went up before you could buy it, it’s likely because that first fare class sold out, even if there are still tickets available in that particular cabin.
Though there are similarities across airlines, each one labels its fare classes slightly differently. Here are United’s fare classes for each class of service on a paid ticket:
First/business class
Full fare: J.
High fare: C, D.
Discounted fare: Z.
Deep-discounted fare: P.
Premium Plus
High fare: O.
Discounted fare: A.
Deep-discounted fare: R.
Economy
Highest full fare: Y.
Full fare: B.
High fare: M, E, H, U.
Discounted fare: Q, V, W.
Deep-discounted fare: L, K, S, T.
Lowest discounted fare: G.
Basic economy: N (on domestic flights).
Note that tickets booked with miles come with their own separate set of fare classes.
How do I find my fare class on United?
When you’re shopping for a ticket on United, the fare classes are listed under each ticket type.
For example, in the screenshot below, the top flight from Chicago to Frankfurt, Germany, has the following fare classes: S in economy, R in premium economy and P in business. The bottom flight has the following fare types: S in economy, A in premium economy and D in business class.
If you’re shopping for a flight on an online travel agency’s website, such as Expedia or Orbitz, you should be able to locate the fare class under “Details” once you select your flights but before you enter your credit card number.
This ticket from Chicago-O’Hare to Frankfurt, Germany, has a fare class of S in the economy cabin.
🤓Nerdy Tip
When possible, book your flights directly with the airline. This way, you avoid having to deal with a third-party booking site in case you need to change or cancel the flight or if there’s a cancellation by the airline.
Why should I pay attention to fare classes on United?
There are some good reasons to pay attention to which fare class you’re booking. For one, your fare class can determine how quickly you earn elite status and whether you’re eligible for an upgrade.
Elite status qualification
Certain fare classes earn more elite qualifying miles and segments, which helps United MileagePlus members qualify or requalify for airline status faster.
Here’s how many Premier Qualifying Miles (PQMs) and Premier Qualifying Segments (PQSs) you’ll earn by booking specific fare classes on United.
Purchased fare class
Premier Qualifying Miles
Premier Qualifying Segments
P, O, A, R, Y, B
M, E, U, H, Q, V, W, S, T, L, K, G
As you can see, purchasing a first, business, premium economy, or full-fare economy ticket earns a bonus on both PQMs and PQSs. Basic economy tickets earn only 50% PQMs and 0.5 PQSs toward Premier elite status with MileagePlus.
Upgrade eligibility
To be eligible for an upgrade, you’ll need to have booked in the right fare class for the type of upgrade you’re requesting.
Complimentary Premier upgrades
If you’re a MileagePlus Premier flyer, tickets booked in certain fare classes are eligible for instant complimentary Premier upgrades (available on select routes). For example, economy tickets booked in fare classes Y or B for all Premier members, and tickets booked in fare classes Y, B or M for Premier 1K members, qualify for immediate upgrades to the premium cabin at booking.
The following routes are eligible for complimentary Premier upgrades:
Continental U.S. (except premium transcontinental routes).
Hawaii from Los Angeles or San Francisco.
Alaska, Canada, Mexico, Caribbean and Central America.
Guam and Micronesia.
Outside of instant upgrades, you can increase your chances of getting a complimentary Premier upgrade when you book a higher fare class than a fellow Premier member at the same status tier.
MileagePlus upgrades
If you’re not an elite flyer with United, you still have the option to upgrade a flight with MileagePlus miles. Depending on the fare class, your Premier status level and your flight route, you might be asked for a cash co-pay on top of the miles redeemed.
For example, tickets in fare classes B, O or Y don’t include a cash component. Tickets booked in most other fare classes will require a cash co-pay.
PlusPoints upgrades
Premier Platinum and Premier 1K members receive PlusPoints that can be used to upgrade United flights. Platinum members receive 40 PlusPoints upon reaching their status tier, and 1K members get another 280 PlusPoints, totaling 320 PlusPoints toward upgrades.
United charges 40 PlusPoints for upgrades from economy to Polaris business class and 80 PlusPoints for upgrades from discounted economy to Polaris on long-haul flights. So, if your ticket’s fare class is S, T, L, K or G then you’ll need 80 PlusPoints for an upgrade to Polaris. Otherwise, you’ll just need 40 PlusPoints for your upgrade.
Additionally, if you’re a Premier 1K member, some fares make you eligible to skip the waitlist and confirm an upgrade right away, as long as your flight is on an eligible international route and is more than 30 days out. Those fares include:
From United economy to United Polaris business class: Y, B, M, E, U, H, Q, V and W.
From United economy to United Premium Plus: Y, B, M, E, U, H, Q, V, W, S, T, L and K.
When crediting miles to a partner program
Another time you should pay attention to fare classes is when you’re crediting a flight to a partner program. Say you’d rather earn miles with Air Canada Aeroplan, who is a Star Alliance partner of United, and you want to know the earning rates.
You’ll earn the following number of Aeroplan points and Status Qualifying Miles (SQMs) when crediting paid United flights to Aeroplan:
If you’re a member of multiple airline loyalty programs and can’t decide where to credit your flight, check out WhereToCredit, a website that shows you how many miles you’d earn in any frequent flyer program for a particular flight. This can help you make sure you’re earning the highest possible number of redeemable miles.
Let’s say you’ve booked a United economy ticket in fare class V and want to know where to credit this flight. Go to the WhereToCredit website, select the airline and fare class and view the results.
Based on the results, you’d earn 5 miles per base dollar spent on the ticket with United MileagePlus (as a general member), 50% of the flight distance with ANA Mileage Club and Miles & More and 75% with all the other partner programs, so you can take your pick of the programs earning more miles.
How can I book specific fare classes on United?
Travelers often don’t care which fare class they book as long as the ticket price is low. However, if you’re chasing status or want to book an upgradeable ticket, there are ways to search for specific fare classes on United.
Go to United.com and select “Advanced search.”
Enter your flight search details as usual and scroll down until you see a “Fare class” box. Fill in the fare classes you’re looking for and click on “Find flights.”
On the results page, you’ll see the regular search results for all other booking classes as well as a column with the requested fare classes.
This way you can compare ticket prices and decide whether booking a specific fare class is worth it or not.
United fare classes recapped
The United fare class you’ve booked can make all the difference between qualifying for an upgrade or not, how much the upgrade is going to cost in miles or cash, and how many miles and segments toward elite status you’ll be earning.
United makes it easy to find your specific fare class before or after you book a flight. It’s smart for United elites in particular to pay attention to fare classes, as booking the right one could make you more likely to score an upgrade.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
New York, US, May 24, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “Home Decor Market Information by Product Type, Distribution Channel and Region- Forecast till 2032”, the global home decor market was estimated to be worth USD 926.1 billion in 2022. The home decor market is expected to increase from USD 964.9 billion in 2023 to USD 1341.1 billion by 2032, at a compound annual growth rate (CAGR) of 18.20% between 2023 and 2032. Rising building, remodelling, and remodelling activities in residential and commercial regions are one of the primary industry drivers currently supporting the market.
Home Decor Market Overview:
Smartphones are useful for acquiring home décor products such as wall art, cushions, curtains, and figurines from various online e-commerce websites. According to The Economic Times, an Indian business journal, by October 2021, India will have the highest mobile data consumption rate in the world, with each user consuming 12 gigabytes per month, and the country is adding 25 million new smartphone users every three months. Furthermore, according to Bankmycell, a mobile phone pricing comparison website based in the United States, 6.37 billion people (80.76% of the world’s population) will be using smartphones in 2021. As a result, as smart gadgets grow more popular, the market CAGR for home decor is increasing.
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Report Scope:
Report Attribute
Details
2032 Market Size
USD 1341.1 Billion
CAGR
18.20% (2023–2032)
Base Year
2022
Forecast Period
2023-2032
Historical Data
2018-2022
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Product Type, Distribution Channel and Region
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers
Increase in online expenditure and use of smartphones
Increasing demand for green home décor products
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Strategic partnerships and collaborations have emerged as a key trend in the home decor business. To maintain their market position, key players in the home decor business are focusing on strategic alliances and partnerships. For example, in April 2022, Dabito, a designer, photographer, artist, and the proprietor of Old Brand New, partnered with Mitzi, a home decor firm situated in the United States. This collaboration resulted in the production of 12 new Mitzi pieces that are equally sleek, modern, and appealing, ranging from wall sconces to chandeliers. In addition, in April 2022, Ruggable, a pioneering washable rug maker based in the United States, will join with Keith Haring Studio to create a collection of 15 chenille rugs and 9 doormats adorned with the late American artist’s distinctive line drawings.
Ruggable rugs are constructed of a machine-washable top layer that is easily separated from a cushioned base. As a result, the home decor market revenue is increasing.
Key Companies in the home decor market include
Ashley Furniture Industries Inc.
Duresta Upholstery Ltd.
Forbo Holding AG
Herman Miller Inc.,
Inter IKEA Systems B.V.
Kimball International Inc.
Koninklijke Philips N.V.
Mannington Mills Inc.
Mohawk Industries Inc.
Hanssem Co., Ltd.
Siemens AG
Springs Window Fashions, LLC
Suofeiya Home Collection Co., Ltd.
Samson Holding Ltd
Shaw Industries Group Inc. (Berkshire Hathaway Inc.)
Sophia Home
Market Segmentation:
The worldwide home décor market is classified by product type, distribution channel, and geography.
The home décor market is divided into four product categories: home furniture, home textiles, flooring, wall décor, lighting, and others. The market was dominated by the home furniture category.
The home décor market is divided into four distribution channels: Home Décor Stores, Supermarkets and Hypermarkets, Online Stores, Gift Shops, and Others. The most money was made in the home décor stores category.
Browse In-depth Market Research Report (128 Pages) on Home Décor Market: https://www.marketresearchfuture.com/reports/home-decor-market-11525
Regional Analysis:
The home décor market is divided into four regions: North America, Europe, Asia-Pacific, and the Rest of the World.
Because of the population shift to urban areas, the Asia Pacific home decor industry will dominate this market. The area’s real estate industry is fast increasing, indicating that new homes and structures are being constructed. As a result of new construction, the market is flooded with innovative and creative décor products. Furthermore, the growing tendency of using waste materials to provide a contemporary appeal has boosted the trend of waste material utilisation. As a result, the level of innovation in home décor products has increased.
From 2023 to 2032, Europe’s home decor market is predicted to develop at the quickest CAGR. The bulk of uses for home decor are in the residential industry, followed by the European business market.
As a result of a growth in the usage of design goods for residential applications, Spain currently maintains the top revenue rank in the global market for home décor. Government laws also require that hospital furniture be specially designed and manufactured. Furthermore, the German home décor market had the highest market share, while the UK home decor industry was the fastest expanding in the European region.
The home decor market in North America is the second largest in the world. The market’s growth can be due to increased product availability as well as increased online and offline home décor channel penetration. The use of various décor products, such as furniture, lighting, decorative flooring, and textiles, is most common in the region, which has a sizable market participant base. Furthermore, the United States had the biggest market share, while Canada had the fastest expanding market in the Asia-Pacific region.
Leading market players are extensively spending in R&D to extend their product lines, which will help the home decor market grow even more. Important market developments include new product releases, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organisations. To grow and thrive in a more competitive and increasing market climate, the home decor sector must provide low-cost items.
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