| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 35,416.98
(+0.24%) | | Nasdaq | 14,281.76
(+0.29%) | | Amazon | $147.03
-$0.70 (-0.47%) | | | | | | | | | | | | | It's an historically bad time to build wealth, because it's an historically bad time to buy a home | | | | Owning a home is a key ingredient to building wealth – for yourself and the generations to come. So when the housing market is making it hard to get a foot in the literal door, it's bad news for Americans.
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | US stocks finished slightly higher on Tuesday as investors grew more confident that the end of Fed rate hikes is near | | | | - Fed Governor Christopher Waller said monetary policy was tight enough, even though inflation was still too high. This helped to briefly send the 10-year Treasury yield below 4.4%, its lowest level since mid-September.
- The 11-day period leading up to Cyber Monday was Amazon's biggest holiday sales event ever, with shoppers around the world buying more than 1 billion items. Overall, U.S. online sales for Cyber Monday hit a record $12.4 billion.
- Shares of the cloud communications platform Twilio rose 3.6% after activist investor and shareholder Anson Funds urged the board to sell the business.
- U.S. home prices rose to a new record high in September, according to the Case-Shiller Home Price Index, which climbed 3.9% year-over-year.
| | | | What to be on the lookout for today | | | | - The second look at Q3 U.S. GDP will be released. The advance estimate showed a pleasant surprise of 4.9% seasonally adjusted annualized growth, buoyed by strong consumer spending. We'll also get the weekly update to the 30-year mortgage rate.
- In company earnings, Foot Locker, Dollar Tree, Salesforce, and Victoria's Secret will report.
| | | | | | | | Don't let your student loans stop you from buying a home | | | | Student loan repayments are back after being put on pause during the pandemic, and that might change the way your budget looks.
But you can still buy a house if you have student loan debt.
Lenders consider your debt-to-income (DTI) level when determining your creditworthiness. Ideally, you want it to be 35% or lower.
Here's how to calculate your DTI: Add up all your monthly debts (including car loans, and credit cards) and divide it by your monthly gross income, and multiply that figure by 100. If this number is higher than 35, you might want to tackle some of your debts before looking to purchase a home.
If your DTI passes muster but student loan payments make it harder for you to save up to buy a home, there are loan options that require smaller down payments. There are also down payment assistance programs and grants for eligible homebuyers.
The good news is that paying your student loans consistently, and on time will help your credit score, a number that mortgage lenders look at before giving you a loan. | | | |  | | | | | | | | Today's top stories | | | | | | | | Could supply chain progress cure U.S. inflation? | | | | Supply chain chaos was all over the headlines during the pandemic. Those days are over now, but a new focus on logistics could hold the key to bringing inflation under control.
Read more >> | | | | Corporate America's diversity efforts are losing ground | | | | First-time promotion rates for Black Americans have fallen to pre-pandemic rates, and that's a problem for companies trying to retain talent.
Read more >> | | | | Should you rent or buy? Take this quiz and find out | | | | Buying a home is one of the biggest financial decisions you can make. You want to be sure that it's right for you. Our quiz can help you get some clarity.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "Working to improve a credit score before applying for a home loan could save a borrower a lot of money in interest over time. Lower rates will keep monthly payments lower or even provide the ability to pay back the loan faster." | | | | – Brian Walsh, CFP® at SoFi | | | | How did you like today's newsletter? | | | | | | | | This email was sent to you at paidmellc@gmail.com by SoFi Wealth LLC. (SoFi) because you're enrolled in the SoFi Daily. If you do not want to receive SoFi Daily emails, click here to unsubscribe.
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