Lending – UK Remb TM http://ukremb-tm.org/ Tue, 03 May 2022 18:29:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ukremb-tm.org/wp-content/uploads/2021/04/uk-remb-icon-150x150.png Lending – UK Remb TM http://ukremb-tm.org/ 32 32 US savings rise during pandemic as people hoard emergency funds https://ukremb-tm.org/2021/03/11/us-savings-rise-during-pandemic-as-people-hoard-emergency-funds/ Thu, 11 Mar 2021 06:01:10 +0000 https://ukremb-tm.org/2021/03/11/us-savings-rise-during-pandemic-as-people-hoard-emergency-funds/
  • Despite record levels of unemployment and widespread financial uncertainty, Americans appear to be prioritizing savings.
  • Data from the Federal Reserve Bank of St. Louis shows total savings deposits at U.S. banks jumped sharply as the coronavirus outbreak surged in March and April.
  • Experts say people are likely saving more because they’re spending less on discretionary purchases and are generally stressed about the state of the economy.
  • Government assistance in the form of stimulus checks and boosted unemployment benefits could also help fill savings accounts.
  • See Business Insider’s picks for the best high-yield savings accounts »

This is a trying time for millions of Americans.

Unemployment is near records; schools, shops and restaurants have closed or moved online; major events and gatherings have been postponed or cancelled; and the cause of it all – a deadly disease that infects thousands every day – is still a threat. We don’t know when this will end or what “normal” will look like on the other side.

But if the Americans savings accounts are an indication they are hoarding cash like never before to protect themselves from continued financial pain.

Perhaps we have learned from past crises, or perhaps this one presents a whole new set of unforeseen challenges and risks. However, it reminds us that one of the fundamental principles of


money management

— set aside part of your income for a rainy day; or in this case, a torrential downpour – is more important than ever.

People keep money close to chest

Savings account balances in the United States have generally increased over time. But when the coronavirus hit our shores, there was an undeniable spike in cash.

Overall, Americans invested money in savings accounts at commercial banks and


credit unions

over the past two months, even though personal income has decreased 2% in March, according to data of


Federal Reserve

Bank of St. Louis shown in the chart below.

total guarantee 5 years


Ruobing Su/Business Insider


Between the week ending March 2 and the week ending April 27, the total dollars held in savings deposit accounts – including high yield savings and


money market accounts

– went from around $9.98 trillion to $10.91 trillion. On a monthly basis, the amount of money deposited in savings accounts increased by about 2.7% from February to March, and then by about 4.4% from March to April. During the same period in 2019, savings grew by less than 1% month-over-month.

Federal Reserve data doesn’t go far enough to show whether these are already financially secure people bolstering their savings accounts or average Americans putting money aside knowing that times difficult are ahead.

But separate the data from a Bankrate survey suggests that positive saving behavior increased markedly at all income levels. As people dip into their emergency funds to cover immediate expenses — as you’d expect in times of massive financial turmoil — 20% of Americans earning more than $30,000 but less than $50,000 and 21% earning between $50,000 and $80,000 said they had increased their emergency savings. over the past two months. Even 13% of earners earning less than $30,000 a year reported an increase in their savings.

What drives people to save more right now?

Research shows that Americans are notoriously bad at saving money. But there is no modern plan for managing your finances during a pandemic.

The influx of cash to personal savings accounts may have been driven, at least in part, by outside sources. The US government has so far sent more than $200 billion to approximately 130 million Americans in the form of Economic Impact Payments, better known as stimulus checks. Most recipients planned to spend the money on immediate expenses, such as food and rent, but just over a fifth said they would save himaccording to a Smart Asset Survey.

The federal government also pays people who are unemployed or furloughed an additional $600 a week on top of their state unemployment benefits until the end of June. For about half of American workersthis means that the perception of unemployment brings in more money than the average full-time job.

Dan Ariely, a professor of psychology and behavioral economics at Duke University, says the surge in economies in recent months can be explained, in part, by better access to money and higher stress levels. On the one hand, he says, people who still have a source of income are finding new ways to save money.

“Usually you’d walk down the street and buy coffee or a donut. Now we can’t do that as much, so there’s more money left for people who are still getting salaries. So that’s good news. “, Ariely, who is also the chief behavioral economist at Qcapital, told Business Insider. Combined with the stress of our current economic situation, he says there is an increased incentive to save.

“It’s both a time of fear and a money-making opportunity,” says Erika RasureOnline MBA Assistant Professor financial services program at the University of Maryville and Senior Consultant and President of St. Louis Financial Therapy.

“It’s natural to want to hold on to your money if you don’t have much of it, aren’t sure about your job, or are generally wary of what the future might hold,” said- she told Business Insider.

“In other cases, it’s a great time to set financial goals and look for investment opportunities that exist specifically in a market like this,” Rasure says. “In both situations, however, there is a keen awareness of how much money you have, how much money you need, and what you can or cannot do with the money you have.”

For Belu Wonji, a 35-year-old nonprofit worker in Oakland, Calif., the current crisis is a stark reminder to plan for the future, she told Business Insider.

Wonji’s parents emigrated from Ethiopia in the 1980s and worked several jobs to support their family, she says. To that end, they had neither the tools nor the resources to save for retirement. She and her brother opened a high yield savings account pool money for them.

“Today our parents are older, and like most immigrant families, many responsibilities have been passed on to the children in an unspoken way,” Wonji says. “By looking at the options and the sense of duty to take care of them, we thought we could help bridge a financial gap that would hopefully ease the financial burden of retirement.”

Will the saving trend continue?

To be sure, a emergency fund or a cash reserve is good to have all the time, not just when you sense financial disaster on the horizon – or while you’re going through the crisis itself. Financial emergencies can, and often do, happen unexpectedly, whether it’s a car repair or a visit to the doctor that isn’t covered by insurance.

“There is a question of whether this will lead to behavioral changes in the future,” says Ariely. “It depends on how the money is transferred. If people make one-time transfers, it probably won’t become a habit. If people make automatic deductions, it’s more likely to last.

“The other question is – after the coronavirus, how quickly are we going to go back to our old habits? How sustainable will the new habits be? Partly it’s how people are going to settle. At the moment where COVID-19 will be over, will people go and If so, the savings are unlikely to last But if we are careful and slow, and remember what happened, we will be better prepared for the future,” says Ariely.

The conventional wisdom is to have three to six months of living expenses at your fingertips in an accessible deposit account. Some people feel comfortable with more, others feel good with less. The goal is to have a lifeline you can lean on before you take on high-interest debt to get out of it. Generally, the best place to store this money is in a high interest account that is easily accessed online. Most savings accounts have a federal limit of six withdrawals per month, but the Federal Reserve has waived the limit for the moment.

During instagram live filmed March 18, financial expert and best-selling author Ramit Sethi recommends aiming for one year of cash spending. Because as you draw down on your emergency fund, it will have to be replenished.

“Now is the time to plan for the worst. So many people write to me and say, ‘I have this emergency fund but I don’t want to use it,'” Sethi said. “I think to myself, what’s the use of an emergency fund? This is an emergency. Guys, wake up. Panic is bad, but overreaction is good. It’s time to think to your emergency fund, because we have an emergency.”

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4 Carlos Slim Quotes That Are More Relevant Than Ever For Investors https://ukremb-tm.org/2021/03/11/4-carlos-slim-quotes-that-are-more-relevant-than-ever-for-investors/ Thu, 11 Mar 2021 06:01:09 +0000 https://ukremb-tm.org/2021/03/11/4-carlos-slim-quotes-that-are-more-relevant-than-ever-for-investors/

With a net worth of around $52.1 billion, Mexican billionaire Carlos Slim Helu ranks 12th on Forbes’ 2020 list of the world’s richest people. Slim made billions buying stakes in hundreds of companies, mostly through his global conglomerate Grupo Carso SAB. These purchases were often timely, as Slim has a knack for capitalizing on crises and knowing when a company is undervalued.

As the world grapples with the novel coronavirus and political unrest, listening to the wise words from great investors such as Slim can provide some necessary perspective to help make your own smart investment choices in these turbulent times.

While Slim has offered plenty of advice throughout his career on investing and building businesses, here are four tips that are particularly relevant to today’s investors.

Image source: Getty Images.

1. Bad times can present opportunities

All times are good for those who know how to work and who have the tools to do so.

If you read the state of the world news, it is clearly a difficult time for many. Although Slim’s quote wasn’t about pandemics and political unrest, it’s still very relevant because it shows that even terrible times present opportunities.

Although there is nothing good about the new coronavirus, it offers the opportunity to take advantage of stock market declines for those willing to work to find discounted shares of companies poised for long-term success. For many investors, these bets have already paid off.

Bad times not only present the opportunity to grow your wealth if you are willing to work at it, but also to good for others if you have the the opportunity and the means to help. So use the tools at your disposal and aim to make your wallet and the world you live in stronger and better when the going gets tough.

2. Don’t Panic

A firm and patient optimism always pays off.

Economic and political uncertainty can make you worry about the future and cause you to make rash decisions, but that’s a recipe for disaster when it comes to managing money or making investments.

Instead, consider buying and holding stocks for the long term, avoid panic selling during market corrections, don’t sell prematurely during rallies, and remember that recoveries always happen is usually the best way forward.

3. Make sure these investments are solid

Courage has taught me no matter how bad a crisis… any wise investment will eventually pay off.

It’s more than just a reminder to stay the course during troubled times. The key here is that Slim is talking about his investments.

As recent events have taught us, the future is impossible to predict and black swan events can occur at any time. If you’ve researched your investments carefully, bought companies with management teams you trust, and made sure you’ve bought stocks of companies with sustainable competitive advantages, your investments should always pay off in the long run. , regardless of the obstacles in the way. you face.

4. Know what comes before

With a good perspective on history, we can have a better understanding of the past and the present, and therefore a clear vision of the future.

As Americans deal with protests and pandemics, it’s easy to sense that we live in a time of unique economic and political chaos and to react accordingly. But a look at a history book shows that’s just not the case.

Understanding what happened before helps put current events into context so you can make better, more informed decisions. Those who understood the history of market rallies and recoveriesfor example, were better positioned to weather the market downturn in March without panicking by selling their investments and missing the gathering that followed.

And understanding history doesn’t just help you avoid overreacting to market swings. It’s one of the keys to choosing wise investments because you can look back on past performance to make more informed choices about whether they’re ready for growth.

Take these Carlos Slim quotes to heart

In turbulent times, staying optimistic can be a challenge, especially if you struggle to place your own experiences in the context of the story. By learning from great investors and businessmen like Carlos Slim, it becomes easier to make the right money moves even in crisis situations.

Although it may not give you a spot on Forbes‘ list of the richest in the world, it should help you improve your own financial situation so that you can get the security you deserve.

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Why Michaels shares jumped on Friday https://ukremb-tm.org/2021/03/11/why-michaels-shares-jumped-on-friday/ Thu, 11 Mar 2021 06:01:09 +0000 https://ukremb-tm.org/2021/03/11/why-michaels-shares-jumped-on-friday/

What happened

Shares of retailer of arts and crafts supplies michaels (MIK) rose 15.3% on Friday, peaking just before 3 p.m. EDT. On a generally positive day for the stock market as a whole, Michaels received an additional boost from an SEC filing that showed an investment management firm black rock (BLK 1.26%) increased its already huge stake in the company.

So what

The SEC filing showed BlackRock owned 14.9 million shares of Michaels at the end of April 2020. That’s up from 12 million shares and an 8.1% stake. the preceding month. BlackRock’s increased investment amounts to a vote of confidence in this deeply troubled retailer.

Image source: Getty Images.

Now what

Even after Friday’s sharp jump, Michaels stock is trading 66% lower in 2020 and 76% lower over the past 52 weeks. The COVID-19 crisis has come at a difficult time for this company, whose revenues and cash flow have been steadily declining since 2017.

MIK Chart

MIK given by Y-Charts

The company even tried to dodge the health crisis by declaring themselves an “essential trader” in March. This ploy didn’t last long, but it undermined my once-positive view of Michaels’ management team. BlackRock appears to disagree with my negative assessment here, picking up almost 3 million more shares at multi-year lows. Is this a calculated bet, a preamble to a hostile takeover or simply a big bet on a possible return to healthy growth? I don’t know, but I would be hesitant to follow BlackRock’s lead here.

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3 sectors that can thrive in a stock market crash https://ukremb-tm.org/2021/03/11/3-sectors-that-can-thrive-in-a-stock-market-crash/ Thu, 11 Mar 2021 06:01:09 +0000 https://ukremb-tm.org/2021/03/11/3-sectors-that-can-thrive-in-a-stock-market-crash/

When the curtain closes on 2020, there is no doubt that it will be find its place in the history books for its wild volatility. In the space of about six months, we have seen the biggest bear market decline of at least 30% in history, as well as the fiercest rebound ever from a bear market low. Many of the biggest nominal one-day gains and losses in the stock market have been set since February.

But even with the reference S&P500 fully retracing its losses related to the coronavirus disease 2019 (COVID-19), the potential for another stock market crash remains high. Basically, mortgage and auto delinquencies are rising, unemployment and underemployment rates remain well above historical norms, and it’s unclear if or when we’ll have a viable coronavirus vaccine.

Image source: Getty Images.

Besides, historical data suggests that a correction or crash is inevitable. In the previous eight bear market declines (dating back 60 years), there have been 13 declines in total, ranging from 10% to 19.9% ​​within three years of the bottom. Many of these retracements occurred well before the three-year mark.

In other words, investors should beware of the very real possibility of another stock market crash.

Yet, as we have learned in 2020 and in every previous bear market decline or crash, long-term investors should not worry that the rug will be pulled out from under Wall Street. Since bull market rallies have eventually erased all corrections, any significant stock market decline is simply an opportunity for investors to buy high-quality stocks at bargain prices.

The question is: what to buy?

Rather than directing you to specific stocks, let me direct you to three very specific sectors that have all the intangibles necessary to thrive in a stock market crash.

A doctor giving a high-five to a child sitting on a parent's lap.

Image source: Getty Images.

Health care

Perhaps the most exciting sector during a stock market crash is healthcare.

Think of it this way: we can’t choose when we get sick or what illnesses we develop, and our bodies don’t care whether the economy is booming or in recession. This means that drugmakers, medical device companies, health insurers, hospitals and specialty healthcare services will see relatively constant demand and cash flow no matter what happens with the stock market or the American economy. A first dive into healthcare inventory is often an obvious opportunity for investors to buy on the cheap.

To take Alexion Pharmaceutical (ALXN) as the perfect example. Alexion is an ultra-rare disease drug developer, meaning it targets very small groups of patients. When it successfully develops a drug for an ultra-rare indication, it often faces little or no competition and receives virtually no reluctance from insurance companies on its list price.

If a stock market crash or recession occurs, that doesn’t mean Alexion’s patients won’t need their breakthrough treatment anymore. Just as Alexion saw its sales soar during the Great Recession, its sales growth should stay in the double digits for the foreseeable future, despite the coronavirus pandemic.

Customers holding hand carts full of groceries in a checkout line.

Image source: Getty Images.

Basic consumption

As the theme of this list suggests, basic goods and services are smart buys during times of heightened volatility and uncertainty. This is why consumer staples should be on your radar.

As the name suggests, a basic consumer good is something you buy, regardless of how the economy performs. For example, you have to eat, buy detergent, and have toilet paper no matter what the economy does. It means stocks of basic consumer goodsalthough boring, can be great businesses to own during a stock market crash.

For example, discount retailer General dollar (DG -3.67%)which offers consumable, seasonal and discretionary products, has not seen a drop in sales since 1987. Every year, like clockwork, Dollar General sales increase of the previous year. Carrying an assortment of food, paper, personal and hygiene products makes Dollar General stores a must visit no matter how the economy performs.

Dollar General has also done a great job of appealing to small town residents, as well as appealing to affluent consumers with brand name products. There is no doubt that its low price is what attracts customers. But Dollar General’s impressive sales growth streak is a testament to its ability to move beyond price as attraction.

A person filling a glass of water from a kitchen faucet.

Image source: Getty Images.

Utilities

Have I already mentioned the importance of essential goods and services? The utilities sector can also support your returns during a stock market crash. Note that utilities may include electricity, natural gas, or water.

Buying into the seemingly boring utility business allows you to take advantage of our rarely changing demand for electricity, natural gas and water. While climate changes like drought can affect water use, a stock market crash or a weak US economy probably won’t have much of an impact on how people consume these products.

While I could pull just about any utility out of the hat to prove my point, I think it’s safe to highlight small-cap water and wastewater utilities York Water (YORW -2.64%) here. The beauty of most utility companies is that they are regulated by public state commissions – in York’s case, the Pennsylvania Public Utilities Commission. While this settlement does not allow York to pass on price increases at will, it also means that it is not exposed to potentially volatile wholesale prices. In other words, utilities have highly predictable and transparent cash flows, which is one of the main reasons York’s revenue hasn’t declined for at least a quarter of a century.

Steady demand and a history of conservative acquisitions in Pennsylvania have allowed the York Water sub-radar to be the the stock market’s most distinguished dividend payer. Its 1.7% return may not be so special, but this company has been paying a dividend to its shareholders for 204 consecutive years. It is more than six decades older than the nearest public company.

The boring utilities sector can pay big profits during a stock market crash.

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Better to Buy: Adobe vs. Autodesk https://ukremb-tm.org/2021/03/11/better-to-buy-adobe-vs-autodesk/ Thu, 11 Mar 2021 06:01:09 +0000 https://ukremb-tm.org/2021/03/11/better-to-buy-adobe-vs-autodesk/

Adobe (ADBE -3.55%) and Autodesk (ADSK -3.35%) are both household names for designers and media professionals. Adobe’s creative software products, including Photoshop, Premiere Pro, Illustrator and After Effects, are widely used by media professionals, and the company also provides cloud-based services to businesses.

Autodesk produces AutoCAD, which revolutionized computer-aided drafting and design software such as Sketchbook and Inventor. Its 3ds Max and Maya platforms are also widely used to create 3D animations.

Both companies have remained resilient throughout the pandemic. Over the past 12 months, Adobe’s stock is up about 35% while Autodesk’s stock is up nearly 50%. Let’s take a look at how the two software companies weathered the crisis and whether either of these stocks is a better overall investment.

Image source: Getty Images.

Differences between Adobe and Autodesk

Adobe has turned all of its desktop software into subscription software cloud service during the last years. It now hosts all of its design software in the Creative and Document Clouds, which are included in the digital media segment, which generated 72% of the company’s revenue in fiscal 2020.

The rest of Adobe’s revenue came from its Digital Experience unit, which offers cloud-based advertising, analytics and e-commerce services to enterprise customers. These companies compete with other big players like Selling power and Shopify.

Autodesk divides its software portfolio into four main groups: AEC (architecture, engineering and construction), AutoCAD, MFG (manufacturing) and M&E (media and entertainment).

Autodesk generated 44% of its revenue from AEC software in the first nine months of fiscal 2021, which began last January. Another 30% came from its AutoCAD products, 20% came from its MFG software and 6% came from its M&E software. Autodesk has also turned most of its desktop software into subscription-based cloud services, but its subscriptions are significantly more expensive than Adobe’s.

How fast are Adobe and Autodesk growing?

Adobe’s revenue grew 15% to $12.87 billion in 2020. Its digital media revenue grew 20%, driven by steady demand for its Creative and Document Cloud services throughout the pandemic .

Its digital experience revenue grew 12% as slower growth in its ad cloud during the pandemic offset stronger growth in its other enterprise clouds. Adobe also discontinued the ad cloud’s low-margin managed service for programmatic TV ads during the year.

Despite these challenges, Adobe’s adjusted EBIT margin still fell from 39.9% to 42.9%, and its adjusted EPS rose 28% as it spent $3 billion on buybacks. She bought back those shares at an average price of $376.38 per share, 20% below her current price.

Adobe expects revenue to grow 18% in fiscal 2021, with similar growth rates in its Digital Media and Experience segments, and adjusted earnings to grow 11%.

A graphic designer works on a project.

Image source: Getty Images.

Autodesk’s revenue grew 16% year-over-year to $2.75 billion in the first nine months of fiscal 2021. Its four segments all grew, with segments AEC and AutoCAD generating double-digit growth and the MFG and M&E segments posting single-digit growth. growth.

Autodesk’s retention rate remained above 100% throughout the crisis, indicating that companies did not stop using its standard design and animation software even when the pandemic disrupted their activities. Autodesk’s operating margin increased year-over-year from 8.8% to 16.1% in the first nine months as spending fell during the pandemic – especially for travel – having reduced its operating expenses.

Autodesk repurchased $399 million in stock at an average price of $185.69 during those nine months, representing a 36% discount from its current price. Those buyouts, along with its steady revenue growth and rising margins, pushed its adjusted EPS up 53% year-over-year.

Autodesk expects full-year revenue to grow 15% and adjusted earnings to grow 40% to 42%. Next year, analysts expect its revenue and profit to rise 14% and 31% respectively.

The evaluations and the verdict

Adobe and Autodesk share similar strengths. They both provide essential subscription-based software for professionals, they drive double-digit revenue and profit growth, and they execute smart buyout plans.

However, Adobe shares are significantly cheaper at 36 times forward earnings and 13 times next year’s sales. Autodesk has a front P/E ratio of 57 and is trading at 15 times next year’s sales.

That lower valuation, along with Adobe’s more diverse cloud platforms and gradual recovery of its ad cloud, could make Adobe a better buy than Autodesk right now. Autodesk remains a solid long-term investment, but its higher rating could limit its upside potential this year.

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Credit card issuers are lowering credit limits during coronavirus: what to do https://ukremb-tm.org/2021/03/11/credit-card-issuers-are-lowering-credit-limits-during-coronavirus-what-to-do/ Thu, 11 Mar 2021 06:01:08 +0000 https://ukremb-tm.org/2021/03/11/credit-card-issuers-are-lowering-credit-limits-during-coronavirus-what-to-do/

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  • To minimize risk during the current economic crisis, credit card issuers like Discover are lowering credit limits for some customers, even those with good credit ratings.
  • A lower credit limit can affect your credit utilization, which is one of the main factors that determines your credit score.
  • Keep a close eye on your credit card accounts and credit score to watch for any changes to your credit limit.
  • If your lines of credit have decreased, you can call the transmitter and request its restoration.
  • Open a new credit card could also undo the damage caused by a reduced credit limit – but only open a new account if you have a plan to pay off your balances.

The coronavirus pandemic has led loss of income for millions of Americans, and in light of the economic crisis, lenders are tightening their standards for extending credit to new borrowers. As banks try to minimize their losses, you may find it harder to get approved for new credit, like a card with a APR introductory offerespecially if you have recently lost a job.

Another way some credit card issuers limit their lending is by lowering line of credit limits on customer accounts. While ideally you’ll never spend near your credit limit and will pay off your statement in full each month, having a lower limit can be bad news for your business. credit score. And if you are unemployed and relying on credit cards to make ends meeta lower limit can add financial stress, especially if you only have one card.

Here’s what you need to know to keep your credit score healthy and what you can do if an issuer lowers your credit limit.

Why issuers are reducing credit limits

Credit card issuers must alert you before changing your interest rate, but they are allowed to adjust your credit limit without telling you. And according to Ted Rossman, industry analyst at CreditCards.com, issuers can tighten their lending restrictions even if you’re a trustworthy borrower.

“Looking back to the Great


Recession

As an indication, the October 2008 survey of senior loan officers from the Fed found that 20% of card companies cut lines of credit for customers with optimal credit scores and 60% for subprime cardholders,” Rossman said. “Banks are again very nervous about the state of the economy and the labor market and they are reducing their exposure to risk.”

And it’s not just speculative – like reported per Bloomberg, Discover confirmed it was offering lower credit lines to new customers, in addition to reducing its efforts to enroll new cardholders.

Why a lower credit limit is important

Your credit score can determine whether or not you’re approved for new lines of credit, and it can also be the difference between a favorable interest rate and an exorbitant APR.

If you’re looking to apply for a new credit card, getting a lower credit limit than you expected on your new account won’t lower your credit score. Until you start having a higher balance, having a new line of credit could actually increase your credit score.

This is because your amounts owed, or your use of credit, accounts for about 30% of your credit score. Your credit utilization is the ratio of your outstanding credit card debt to your available credit. So if you have $5,000 in outstanding balances on your credit card accounts and your credit limit on all those accounts is $25,000, you will have a 20% utilization rate. As a general rule, you should keep your usage below 30%, or much lower (think 6%) if you want to have a excellent credit score.

If an issuer decides to lower the credit limit on one of your existing accounts, it could lower your credit score because it would increase your utilization rate. Business Insider contributor Jennifer Nelson wrote about a friend whose credit score dropped 30 points after his line of credit was lowered even though he made regular payments and had accounts in good standing.

Read more: How to Maintain Your Credit Score When the Economy Seems Uncertain

What you can do if your credit limit is lowered

Since issuers can lower your credit limit without notifying you, you’ll need to be vigilant about checking your credit score and credit card accounts to watch for any changes.

You can check your credit score for free using a service such as Credit Karma, or you may be able to access your credit score through your credit card issuer.

If you find that your credit limit has been lowered, you can contact the issuer and request a reinstatement of your credit limit. You should politely ask for an explanation of why your limit was lowered, and if you encounter some resistance, consider asking what you need to do to have your limit reinstated.

Since issuers are lowering credit limits even for customers with good credit ratings, you may not get the chance to increase your credit limit again. In this case, you might consider opening a new credit card if you want to compensate for the drop in your credit score. In fact, if you’re lucky enough to be in a financially stable position, now is a great time to start working towards a credit card rewards registration bonus so you’re ready to book your next holiday with points and miles whenever travel becomes an option again.

Read more: The best credit card sign-up bonuses available now

If you choose to go this route, remember to follow the usual guidelines for using credit cards, including the most important: treat credit cards like debit cards, only charging what you can you afford to pay in full. Of course, if you’re currently unemployed and relying on credit to make ends meet, this may not apply, especially if you’re still working on building up a emergency fund. In this case, you can contact your issuer to see if there are any rescue programs available, such as payment deferrals or waived or reduced interest.

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Home prices in September saw the biggest increase in 6 years https://ukremb-tm.org/2021/03/11/home-prices-in-september-saw-the-biggest-increase-in-6-years/ Thu, 11 Mar 2021 06:01:08 +0000 https://ukremb-tm.org/2021/03/11/home-prices-in-september-saw-the-biggest-increase-in-6-years/

Image source: Getty Images.

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Mortgage rates continues to plunge as the economy remains sluggish in the coronavirus pandemic. This led to an increase in demand from buyers.

But many buyers have struggled to buy homes, and high prices have a lot to do with it. In fact, home values ​​rose 7% year over year in September, according to the S&P CoreLogic Case-Shiller US National Home Price NSA Index. This is the largest annual gain since September 2014. The result? House prices are now almost 23% higher than when they last peaked in 2006.

Limited stocks also drive up prices

It’s not just low mortgage rates that are creating a surge in buyer demand. The housing stock was also extremely limited during the pandemic, making it difficult for buyers to get in on the action. Inventory dwindled to a 2.5 month supply at the end of October, reports the National Association of Realtors. For context, a four or five month supply of homes is usually available in a more balanced housing market. Additionally, due to the level of competition for existing homes, many buyers find themselves in bidding wars for properties, driving up selling prices.

Of course, some cities experience higher house prices than others. Seattle, San Diego and Phoenix, for example, posted substantial gains in September, while New York, Dallas and Chicago posted smaller ones. But overall, house prices have only gone up.

Does it pay to buy a house in light of higher prices?

While capitalizing on today’s low mortgage rates may seem wise, weigh the amount you’d save with a low rate against the higher price you’ll pay for a home. And remember, it’s not just the amount you pay for a home that will eat away at your savings. Due to limited inventory, you could end up with a property in less than stellar condition, so the money you invest in repairs could further wipe out your mortgage savings.

Another thing to keep in mind: the low mortgage rates you mentioned are reserved for the best borrowers – those with strong credit scores, low debt levels and strong savings and income. If your credit score is only in the 700s – still respectable, but not considered “excellent” – then you may not be getting the best rates.

Will housing inventory open in 2021?

There is a good chance that it is. If things improve on the coronavirus front (which could happen if vaccines are rolled out quickly) and the economy improves, more sellers might be willing to list their homes. This could relieve demand and bring home prices down to a more affordable level.

Of course, if the economy picks up, mortgage rates could go up a bit, but there’s a good chance they’ll remain fairly competitive throughout 2021. If you find you’re out of the housing market right now moment, it might pay to wait for things to happen and work on making yourself a better mortgage candidate in the meantime. In this way, a lender will be more likely to offer you a higher rate once you are ready to buy.

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Why Nano-X imaging stock fell 26% in December https://ukremb-tm.org/2021/03/11/why-nano-x-imaging-stock-fell-26-in-december/ Thu, 11 Mar 2021 06:01:08 +0000 https://ukremb-tm.org/2021/03/11/why-nano-x-imaging-stock-fell-26-in-december/

What happened

Nano-X Imaging (NNOX -1.18% )also known as Nanox, is a pre-revenue and pre-approval medical imaging company, and its stock fell 25.5% in December, according to data provided by S&P Global Market Intelligence. In my opinion, there was no company-specific news during the month to justify the drop. The stock probably just pulled back after making an incredible jump 122% in November.

So what

Nanox is a controversial stock. Everyone is talking about his secret technology which promises to make medical imaging better, more affordable and, therefore, more accessible. However, some believe that the company is fake, causing its stock price to drop sharply. To silence its critics, Nanox did what it could do best: a live demo of its Nanox.ARC device.

Image source: Getty Images.

The live demo was announced in November, which is why Nanox stock surged during that month. But the protest took place on December 3, and Wall Street’s response was more muted. It seems some were disappointed that the Nanox.ARC was used on mannequins, instead of real people.

Now what

Whatever the reason for Nanox’s stock decline in December, a valid bearish argument remains: Nanox is still not generating revenue because its product has not received regulatory approval. The company is hoping for approval this year and already has over 5,000 pre-orders. That said, if it receives regulatory approval (something beyond its control), it still needs to demonstrate that Nanox.ARC can be manufactured in large quantities without issue – which is not a foregone conclusion.

However, while there are valid concerns, the potential for Nanox is incredibly great. Besides potentially being a better version of X-ray technology (something of universal utility), its digital imaging could have benefits beyond those of traditional X-rays, as its recent press release demonstrates. Nanox and USARAD Holdings have renewed their collaboration for image analysis.

Artificial intelligence, when properly configured, can process large datasets much better than humans. Medical images have many patterns, often so minute that a person could easily overlook certain markers. However, since Nanox’s technology promises digital images, large datasets can be connected to the AI ​​program and eventually provide doctors and patients with better medical information. This is just one of the promising possibilities that technology like this could offer years later.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a high-end advice service Motley Fool. We are heterogeneous! Challenging an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and wealthier.

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Wynn Resorts will reopen the flagship Las Vegas resort on June 4 https://ukremb-tm.org/2021/03/11/wynn-resorts-will-reopen-the-flagship-las-vegas-resort-on-june-4/ Thu, 11 Mar 2021 06:01:07 +0000 https://ukremb-tm.org/2021/03/11/wynn-resorts-will-reopen-the-flagship-las-vegas-resort-on-june-4/

Wynn Resorts ( WYNN -2.89% ) announced on Thursday that its flagship property in Mecca of gamingWynn Las Vegas is scheduled to reopen next Thursday, June 4.

It will be a full reopening, Wynn said. The two towers of the station, its casino and all its restaurants will accept customers as they did before the world coronavirus outbreak. So are the resort’s many amenities, including its golf course and retail stores.

Image source: Wynn Resorts.

Wynn said it has cobbled together a “comprehensive” health and safety plan to protect its guests and visitors to the resort, which it says is “now considered the gold standard of the hospitality industry”.

The plan includes contactless technologies, non-invasive thermal temperature scans and mandatory face masks for every employee. Those workers have all been tested for COVID-19, Wynn said.

“Every effort has been made to present the full Wynn luxury experience and provide guests with the peace of mind needed to enjoy a fun and relaxing return home,” the company said in the press release announcing the reopening. .

The state of Nevada has a general plan, called Nevada United: Roadmap to Recovery, for reopening its businesses. In accordance with that document, Wynn said, it is reopening Wynn Las Vegas as part of the second of four planned phases.

On Wednesday, Wynn stock rose more than the general stock market and many blue boat securities, closing the day with a gain of 2.4%.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a high-end advice service Motley Fool. We are heterogeneous! Challenging an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and wealthier.

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I’m buying my first home during a pandemic. Here’s what surprised me. https://ukremb-tm.org/2021/03/11/im-buying-my-first-home-during-a-pandemic-heres-what-surprised-me/ Thu, 11 Mar 2021 06:01:07 +0000 https://ukremb-tm.org/2021/03/11/im-buying-my-first-home-during-a-pandemic-heres-what-surprised-me/

Personal Finance Insider writes about products, strategies, and advice to help you make smart decisions with your money. We may receive a small commission from our partners, such as American Express, but our reports and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards.

  • I had been toying with the idea of ​​buying a house in my hometown of Cincinnati, Ohio since before the coronavirus pandemic.
  • At the start of the process, I thought there would be less competition.
  • But, as it turns out, the opposite was true: low interest rates drove people into the housing market in droves. While demand is up from pre-pandemic levels, housing supply is down.
  • Move-in ready homes are moving fast in my market, and I’ve had pre-approval revoked since the start of the pandemic and lending has tightened.
  • As a first-time homebuyer, it’s not as easy as I thought, but I’m learning to be patient.
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When I started planning a move from Seattle, Washington to my hometown of Cincinnati, Ohio in March, I had no idea how drastically things would change and how quickly the coronavirus would escalate.

By the time I finally left my keys with my roommate in June, the world was in the midst of a global pandemic, and the the economy was spinning due to unemployment levels not seen since the Great Depression. But, since I was lucky enough to stay employed and still had my down payment savings, I stuck with my plan to buy a house in the Midwest.

In Cincinnati, I can have something of my own and live comfortably on my salary. And, I’ll probably pay less on my mortgage than the $925 a month I paid to rent a room in Seattle.

At first I thought the pandemic would reduce competition – who wants to buy a house when the economy is so uncertain? And, who would want to watch homes with the threat of a major pandemic interrupting every interaction? I was ready, apparently. Given the record demand for mortgages and new homes, so did many other people.

New mortgages are on the rise and lenders are tightening standards

I thought I had my mortgage pre-approved in April, but discovered that the lender I had chosen had tightened their standards and started requiring a 20% down payment, changing their minds on my pre-approval. -approval.

Like many other millennials, I’m touchy will not make a full 20% deposit on my new house. Although it means paying private mortgage insurance, it’s something I’m willing to do to start building capital and save myself from having to rent another apartment. But, since the start of the pandemic, it also meant that I had to shop around for a new lender.


Mortgage lenders

are spoiled for choice as people become interested in buying a home, in part because of record high mortgage interest rates. In June 2020, lenders saw the highest number of mortgage applications in 11 yearsreports Carmen Reinicke of Business Insider.

The pandemic forced me to spend a bit more time shopping around for a mortgage lender, which took an already complicated move to the next level.

Homes are seized as soon as they are listed

Working with a realtor I have been able to see a few houses in the area so far. But, there were plenty of others that I didn’t see that I was interested in, simply because they had deals pending almost as soon as they hit the market.

A newly remodeled home I loved in Cincinnati’s Silverton neighborhood — a pretty quiet market compared to more up-and-coming neighborhoods — didn’t even stay on the market for a full weekday. When I found it on Zillow Monday morning, the house already had a full day of tours booked. Tuesday at noon, he had an offer pending. Move-in ready homes are going fast right now, at least in the Cincinnati real estate market.

Demand for homes is currently strong and the number of homes on the market is not keeping pace with demand. As Business Insider’s Libertina Brandt reports from Redfin data, home buying demand increased by 25% in the first week of June, compared to pre-pandemic levels. But, in the first week of June, new listings were down 15% year over year, and landlords were hesitant to sell during the pandemic.

It’s designed for a competitive environment in Cincinnati, and probably the rest of the United States as well. While the pandemic has certainly thrown curve balls at me through the rapid lengthening process, I’m willing to wait.

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