Mortgage Market Guide Monthly - Views You Can Use
IN THIS ISSUE... |
"Stormy weather ... keeps rainin' all the time." Billie Holiday. Cold fronts and storms through much of the country persisted in slowing the economic recovery, but will we see signs of thaw? Scrape the frost from your screen one last time and get a fresh view of this news and more, including:
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Housing's Slippery Slope |
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What to Watch: Producer Price Index (PPI) |
Inflation at the wholesale level has the potential to negatively impact Bonds and home loan rates if it begins to rise. Here's a breakdown of what you need to know and watch in the coming months. What is the Producer Price Index report? PPI reports on a group of indexes covering sellers of manufacturing, mining, agriculture and electric utilities. It measures the average change in prices of these goods and services over time. What's happened recently? The Labor Department reported that PPI fell by -0.8 percent from March 2014 to March 2015, due to declining oil and fuel prices. This was in stark contrast to the +2.1 percent recorded year-over-year back in May 2014. What's the bottom line? Inflation is a Bond's worst enemy as it erodes the purchasing power of a Bond's future cash flows. And since home loan rates are tied to Mortgage Bonds, it can cause home loan rates to rise if Bonds worsen. In this case, inflation was weak, which helped to lift prices throughout the Bond markets and keep home loan rates at low levels. I'll continue to monitor all housing and economic reports closely. If you have any immediate questions, please call or email today. |
Budget-friendly Summer Vacations |
Summer vacation is right around the corner, making it a great time to start planning. Look no further for low-cost, flexible vacation ideas! Day Tripper? Yeah! If you're on a tight budget or have less time, full and half-day trips make for great getaways. Shorter excursions are also easier if you have very young children. Beaches, parks and light hiking trails are only a few examples of inexpensive half-day getaways. Try planning out your summer on TripAdvisor, or contact the Chamber of Commerce of your chosen destination to discover more activities. The Long, Long Weekend. The cost of weekend trips can vary dramatically, so this vacation benefits people who place a premium on time. To help compare costs of flying versus driving, you can use Google Maps to plot the driving distance and estimate the cost for gas and meals on the road. Then check the cost of plane tickets and a rental car. If you do decide to drive to your destination, use GasBuddy or a similar smartphone app to save on fuel. Also, remember that travel is seasonal so if you head to an opposite destination than the crowds, you could save big. Talk to the Pros. Travel agencies are worth a look because they offer all-inclusive deals, and can save you both time and legwork in planning all the details. You can also cut costs on extended vacations by organizing a group vacation—the bigger the group you bring to a travel agent, the better deal you will get. If you want to do it yourself, a travel-planning app like Tripit is a great way to keep track of all the details. Whatever kind of vacation you choose, planning ahead ensures that you can relax and unwind once you arrive at your destination—and that is priceless! |
Q&A: Get Next Year's IRS Refund This Year |
QUESTION: Do I have to wait an entire year to get my tax refund? ANSWER: According to the IRS, the average tax refund in 2014 was $3,116, and it's expected to rise to $3,295 in 2015. That means millions of people over-withhold more than $270 dollars from their paycheck every month. So if you received a refund this year—and you expect your financial situation and income to remain about the same—here is how you can receive the cash now, rather than a refund later. Have your most recent paystub handy, then visit the IRS Withholding Calculator and follow the simple step-by-step instructions. The result will tell you how many Federal withholdings you need in order to balance your refund. Take that result to your payroll department at work and update your W-4 form accordingly. Even though you won't get a lump sum refund next year, you will get more cash out of your hard-earned paycheck, leaving more for your monthly budget and savings! |
Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: Cell/Text: (561) 373-0987
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