Nithman Financial Group

Daylight saving time is just around the corner! ⏰ Don't forget to "spring forward" and set your clocks one hour ahead on Sunday, March 10.

Remember, spring is not only a time for renewal in nature but also a great opportunity to review your financial plans. If you have any questions or need guidance, we're here to help. Wishing you a joyful and productive season ahead!

We're seeing a resurgence in the mortgage refinance market as rates fall back towards 7%, the lowest point since August.

◾ Applications to refinance a home loan increased 14% from the previous week and were 10% higher than the same week one year ago.
◾ The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 7.17% from 7.37%.
◾ However, applications for a mortgage to purchase a home fell 0.3% for the week and were 17% lower than the same week a year earlier.
◾ This decrease in rates is attributed to slower inflation and financial markets anticipating the potential end of the Fed’s hiking cycle.

If you've been considering refinancing your home, now could be an opportune time. Let's explore your options together.



Source:

Mortgage refinance demand jumps 14% as rates fall to lowest point since August After hitting 8% in October, the rate for the popular 30-year mortgage is heading back down toward 7%.

Take steps to decipher your hospital bill. Request a detailed itemized bill, as it might reveal errors or inflated charges. Get acquainted with the codes and costs listed in your bill. This understanding can help you advocate for yourself and potentially cut down your expenses.

Start saving for the future. When you have the rest of your finances in order and feel confident about your financial health, it's time to start thinking about your future. It may feel tedious, but it will help provide for you and your family down the road.

Whether this is an emergency fund or increasing your savings, a financial buffer can help make you feel better about the future and help keep you from sinking into debt.

Paying off what you owe creditors will allow you to focus on other financial goals. When you are debt free, all the funds that used to go toward your debt can now go toward more productive alternatives.

Increasing your net income to improve your financial health can come in two forms: find new ways to increase what your household earns AND find ways to decrease what your household spends. If you can do either, or both, you can boost your net income.

Improve your financial health by getting a more comprehensive look at your expenses. Reviewing bank statements with every cost laid out will help you track your financial habits. Find areas with negative spending habits and look for ways to improve them.

Here's to finding joy and reward in the work that you do. Happy Labor Day!