Inflation is back in the news this year. While the U.S. inflation rate had remained low at about 2% since 2010, it has surged past 5% this year, pushing up prices and squeezing pocketbooks. Thankfully, there are a few ways to reduce the harmful impacts of inflation, and many Americans are already using one – homeownership. Here’s a look at what inflation is and how owning a home can offer some protection against it.
Dust is a fact of life. Outside of high-tech factory clean rooms, a bit of dust is the norm, and your health and comfort are usually not affected. Inside the home can be a different story, however. Enclosed spaces can cause the components of dust – tiny bits of cloth, paper, hair, pet dander, skin cells, dirt and more – to build up, causing a cleaning nuisance and potentially triggering allergies.
There was some great news for homeowners recently. In July, the Federal Housing Finance Administration (FHFA) removed the 0.5% fee that had applied to most mortgage refinances. This means that refinancing a mortgage is now cheaper for most mortgage borrowers.
Once upon a time, buying a “big screen” TV meant shelling out a small fortune to watch fuzzy video on a bulky appliance the size of a bedroom dresser. Times have certainly changed. Today, $500 will score you a 55-inch panel with pristine image quality that you can hang from the wall.
If you’re paying for private mortgage insurance (PMI) on your home loan, you may qualify to remove it early. Since mortgage insurance only protects your loan servicer (the company you make your mortgage payments to), not you, the sooner you can get rid of it and stop paying monthly premiums, the better. Here’s an overview of the options for removing mortgage insurance.