Mortgage rates drop after bank failures

Mortgage rates drop after bank failures

Following a trend of rising half a percentage point over the past month, mortgage rates have dropped this week after several bank failures. 

According to data from Freddie Mac released on Thursday, the 30-year fixed-rate mortgage averaged 6.60% in the week ending March 16, down from the previous week’s rate of 6.73%. 

Rates had been trending down after reaching a high of 7.08% in November 2022 but started climbing again in February. 

The Federal Reserve’s continued efforts to cool the US economy through benchmark lending rate hikes also contributed to rising rates. 

However, after several banks collapsed last week, investors turned to Treasury bonds for a safe haven, which led to a drop in yields and, subsequently, mortgage rates.

Living on a cruise ship can be cheaper than NYC’s rent costs

Which would you rather have to live in for a year—an NYC apartment or your own cabin for a year-long cruise around the world?

Technically, there is a cruise option that is cheaper than renting the average New York City apartment for the same amount of time. 

Reservations are now being accepted for Life at Sea Cruises‘ three-year world cruise, which takes passengers to 375 ports in 135 different countries, spanning seven continents and covering more than 130,000 miles.

Residents will need to purchase a spot if they want to sail with them, but the pricing starts at $29,999 a year or through a monthly payment plan at $2,499.StreetEasy’s rent index reports that the cost of renting in NYC for 2022 was, on average, $3,207 per month or $38,484 annually. This cost is $8,484 greater than the yearly cost of a cruise and $708 greater than the monthly payment plan.

Spring 2023 gardening resources for homeowners 

Spring 2023 is finally here! And homeowners are getting ready to rake off the winter debris and tend to their gardens. 

Whether you’re a veteran gardener or a rookie, plenty of resources are online to help you become a successful home gardener. From newsletters to online guides, there’s no shortage of help out there to develop that green thumb.

Resources for gardeners

Monthly newsletters from expert sources can cover a variety of garden topics—like this one from Penn State University. 

Their handy tips cover many areas, including vegetable, herb, and fruit production, garden and landscape maintenance practices, and pest and disease identification. They also offer tips for curating a home garden that is healthy and productive and that attracts wildlife, as well as tips on how to manage pests, plant diseases, and weeds.

Another great resource comes from the University of Georgia’s Home Garden Series, which explains everything you need to know about growing a successful home vegetable or herb garden—the steps needed to plan, prepare and plant with confidence. 

The Home Garden Series also advises on how to select crops suitable for one’s family and the local climate, as well as setting garden maps and calendars to help ensure timely maintenance tasks.

It’s good to remember that growing your own food or herb garden at home can reduce wasteful packaging, curb your carbon footprint, and improve your overall health. 

Starting a garden at home does not have to be complicated, and it can be a fun activity to get the whole family involved. Tips for starting a garden include:

• Finding an area with a lot of sunlight.
• Water plants frequently.
• Buying or reusing containers as planters.