Inflation continues to dominate media headlines this month and contribute to consumer pressures. More Americans are using their savings to pay for groceries and utility bills, while others are putting off essential spending like medical and dental care. In addition, the Federal Reserve announced a hike in key interest rates. But the news wasn’t all bad: The NFL season officially began on September 9th, one day earlier than usual.
Home financing
A faster way to cash in on your home equity
Have you ever thought about using the equity in your home, then put it off because you knew what would come next? Weeks of waiting. Schedule an appraiser to tour your home. A stack of papers to keep track of. For many homeowners, this process is an inconvenience that they can never pursue, even when accessing that equity could really be beneficial.
Our digital HELOC is designed to solve this specific problem.
The application is submitted entirely online, and for loans under $400,000, no in-person appraisal is required. Instead of waiting weeks to find out your situation, you can get a decision in less than 5 minutes. For many borrowers, financing comes in less than 5 days.
This isn’t a small credit limit either. You can access up to $750,000, and it works whether the property is your primary home, a second home, or an investment property.
So what has changed for you? Instead of wondering if tapping into your credit is worth it, you can actually find out what you qualify for in the time it takes to finish a cup of coffee. There is no appraiser visit to schedule. No waiting weeks to hear back.
People use it for many different things: combining other debts into one simpler payment, tackling a home improvement project, building a cushion for the unexpected, or covering a higher cost without depleting savings. There is no single correct reason. It depends on what is beneficial to your situation now.
Every case is different, and prices and terms depend on your specific circumstances. There is no obligation to move forward just because you are checking out your options. We’d love to go over the numbers with you.
Are you ready to find out how much you qualify for? Apply today!
insurance
Does your home insurance follow the 80% rule?
When shopping for homeowner’s insurance coverage, it’s easy to assume that it will pay 100% of the cost of any covered damage, minus your deductible. But if you’re not familiar with the 80% rule, you could end up paying some of these costs out of pocket.
The 80% rule means that to get full claim coverage, you need coverage worth at least 80% of the total replacement cost of your home. Replacement cost is not the market value of your home. It is the cost of rebuilding the property from the ground up, which can be higher.
If your coverage is not at 80%, the outcome of the claim will depend on your policy. Some insurance companies reduce your payment proportionately, based on how much coverage you already carry. Others settle the claim for the actual cash value, i.e. the depreciated value, rather than the full replacement cost. In either case, the difference becomes your responsibility.
Here’s an example of how the math works. Let’s say your home replacement costs $600,000. To qualify for full coverage, your policy needs a limit of at least $480,000. If you carry $400,000, you’re under the threshold — and in a $100,000 kitchen fire, you could owe thousands of dollars beyond your deductible.
If you’re concerned about your coverage, take a few minutes to review your current policy. Your coverage needs may change; Construction costs are rising, and renovations may add value. Some, but not all, policies include an adjustment for inflation. Contact your insurance company or agent if you have questions or concerns.
This article is provided for general information. Before making any coverage decisions, consult a licensed insurance professional and review your insurance policy documents to determine what is appropriate for your individual situation.
Source: Kiplinger.com
In the news
Couch economics explained
Are you wondering what the sofa economy is? It’s not what you just spent on that new sofa. It describes our current spending habits and how they have evolved.
Years after pandemic restrictions were lifted, consumers are still ordering from home — and in some cases, saving money doing so. Rising gas prices and the summer heat have made a night out more attractive than a trip to the grocery store or the movies.
Visa Business and Economic Insights recently analyzed cardholder usage at home. The share of domestic payment volume made online and via mobile apps rose from 48% in 2019 to 58% in 2026. The number of repeat online and in-app buyers – those who make 10 or more transactions per month, measured as a proportion of active cards – also rose from 13.1% in 2018 to 25.4% in 2026.
Entertainment is staying at home too. More than 17% of US Visa cards now carry a streaming subscription, compared to about 6% showing spending on movie theaters and concerts. About 10% of card users ordered from a food delivery service in 2026.
In a separate analysis, the Bank of America Institute found that subscription spending, including streaming services, rose 7.7% in July 2026 compared to July 2025 — even as consumers remain more cost-conscious overall. Our furry couch companions are making a good impression, too: Visa found regular pet-related spending on 8% of U.S. credit cards.
Keep in mind that it’s easy to lose recurring subscriptions, especially since many of them are less than $20.00 per month. And upgrading your streaming service to “no commercials” or paying a membership fee for discounted food delivery can go unnoticed.
Source: Finance.yahoo.com
Credit and consumer finance
Why freezing your child’s credit could be a smart money move
Americans reported losing about $15.9 billion to fraud in 2025 — the highest total on record and nearly 25% more than the previous year. New scams are constantly popping up, some targeting people under 18 years old. If you have children at home, freezing their credit file is worth considering.
This is why minors are the targets: Identity theft in a child’s name often goes undetected for years, only coming to light when they apply for credit of their own. Minors typically do not have credit reports, so there is nothing to monitor and no warning signs until the damage is done.
The progress of freezing depends on your child’s age and other factors. Experian allows children 14 or older to freeze their credit, while TransUnion and Equifax restrict credit freezes for children when mailing applications. It’s best to visit each credit bureau’s website before proceeding.
Contact the “big three” credit bureaus: Experian, Equifax, and TransUnion individually. Be prepared to provide documents proving your identity and your child’s identity. If the office does not have a file for your child, it will create one just so it can be frozen.
If you want to give a teen access to emergency funds, check if your credit card issuer allows you to add an authorized user. You’ll be able to see their spending, which puts you in a good position to talk about budgeting and other smart financial habits.
Source: Tamkeen.com
Did you know?
Why do 10-year Treasury bonds affect interest rates?
When mortgage interest rates make the news, the 10-year US Treasury bond is often mentioned in the same breath. If you’re wondering what role you play in consumer finance, here’s some basic information.
A 10-year Treasury note, sometimes called a T-note, is a type of investment called a debt security. It is essentially a loan to the US government, and the yield of the note is the interest rate that the government pays to buyers.
Because they are backed by the federal government, 10-year Treasury bonds are considered a safe investment. This is one reason why it serves as a benchmark for pricing a variety of loan products, including mortgages. Another reason: 30-year mortgage pricing has become tied to the 10-year yield because most mortgages are refinanced or paid off when the home is sold, before the end of the 30-year term.
Yield also tells us a lot about investor confidence. When investors feel good about the economy and expect better returns elsewhere, demand for Treasuries falls and yields rise. When war or another global crisis creates uncertainty, investors run for safety and returns decline.
Inflation works differently – when investors expect prices to rise faster, they demand a higher yield to compensate for lost purchasing power, pushing yields higher. Expectations about the Federal Reserve’s future interest rate decisions affect yields as well.
When yields rise over a few weeks, mortgage rates usually follow. Keep in mind that there are other factors that affect mortgage rates, such as lender costs, investors’ appetite for mortgage-backed securities, and market volatility.
Source: Investment website
