February 27, 2023
Looking for some financial news and tips to start your week off right? In this blog post, we'll cover three important topics that will help you save money and make informed decisions about your finances. From the Biden administration's latest move to make homeownership more affordable to protecting yourself from the latest Disney+ scam, and down to knowing the average cost of weddings in 2023, you won't want to miss this.
1. Biden Administration reduces mortgage insurance premiums to make homeownership more affordable
The Biden Administration recently announced a reduction in the annual mortgage insurance premium on FHA-insured mortgages through the Federal Housing Administration. This move is expected to help consumers balance the rising cost of mortgages, with the 30-year mortgage rate averaging 6.62%. As a result of the reduction, homeowners can save up to $1,500 per year on a $500,000 mortgage or $900 per year on a $300,000 mortgage. This news is a game-changer for those looking to become homeowners or for those who want to refinance their current mortgage.
2. How to protect yourself from the latest Disney Plus scam
Scammers are becoming more and more sophisticated, and the latest Disney+ scam is no exception. According to Kiplinger, scammers send emails that appear to be from Disney Plus, claiming that the user's account is about to be disabled and requesting immediate action. The goal is to panic the victim into clicking a link and providing personal information to the scammers, which can lead to empty bank accounts. To avoid falling victim to this scam, make sure to verify the sender's email address, avoid clicking on any suspicious links, and never give out personal information.
3. How Much Does a Wedding Cost in 2023?
The wedding industry has been heavily impacted by the pandemic, but as things slowly return to normal, the cost of weddings continues to rise. According to Zola's latest data, couples will spend around $29,000 to tie the knot in 2023, which is an increase from the $28,000 spent in 2022 and a significant jump from the $24,700 spent in 2019 before the pandemic. With the cost of weddings on the rise, it's important to create a budget and stick to it to avoid overspending.
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