Two groups of Americans are more likely to experience the harsh effects of price hikes.
| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 35,950.89
(+1.47%) | | S&P 500 | 4,567.80
(+0.38%) | | Nasdaq | 14,226.22
(-0.23%) | | | | | | | | | | | | | Inflation has been hitting these two groups the hardest | | | | Even though we're all witnessing it, the high inflation levels of the past years don't affect us all the same. Find out who has been hit the hardest.
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | U.S. stocks were mixed on the last trading day of November, with the Dow Jones Industrial Average shooting sharply higher | | | | - All three major indexes logged gains for November.
- Dow component Salesforce soared 9.4%, after topping earnings expectations.
- Other earnings that buoyed stocks included data storage company Snowflake, which rose 7.1%, and grocery chain Kroger, which climbed 1.4%.
- Shares of Cracker Barrel shares fell 10.6% after missing expectations and reporting a decline in restaurant and retail sales.
- The Fed's preferred inflation gauge fell to 3.5% year-over-year in October, the lowest level since April 2021. Even though inflation is still above the Fed's 2% target, recent data has spurred market expectations that the central bank is done raising interest rates. The same report Thursday showed slight increases in personal income and consumer spending.
- Pending home sales in October fell to their lowest level since tracking began in 2001.
- OPEC+ agreed to reduce production by an additional 1 million barrels-per day, leading oil prices some 2% lower.
| | | | What to be on the lookout for today | | | | - There are no major company earnings reports scheduled, but look out for the ISM manufacturing PMI and a speech from Fed Chairman Jerome Powell.
| | | | | | | | How to handle buying a home when interest rates are high | | | | It's a tricky time to buy a home. America has long faced a shortage of housing units, plus, the Federal Reserve hiked interest rates to the highest level in some two decades to combat inflation.
But there are things you can do to navigate this tricky market.
Improve your credit
Your credit score is used to determine your creditworthiness. The better your score, the more likely you are to get better loan terms, including potentially lower interest rates.
Look for homebuyer assistance programs
There are government loans and programs that are aimed to make homebuying more accessible. Some of the options offer eligible buyers better loan terms, like lower down payment options and better interest rates.
Increase your down payment
Yes, we know this is easier said than done. But having a bigger down payment would reduce your total loan balance, which might help you avoid private mortgage insurance (PMI) and allow you smaller monthly payments. A larger down payment can also result in better loan terms.
If you're in the market for a home, don't despair. As a first step, as always, find out how much home you can actually afford. | | | |  | | | | | | | | Today's top stories | | | | | | | | Keep your returns! Retailers are changing the game | | | | In an effort to cut costs, retailers are taking one key step out of the returns process.
Read more >> | | | | This startup wants to change workplace productivity | | | | AppFlowy's journey to redefine project management is now bolstered by a $6.4 million investment.
Read more >> | | | | What is a good mortgage rate? | | | | Watching America's housing market has been a wild ride in the past years between the pandemic buying frenzy, and the Fed hiking interest rates. So what is a good mortgage interest rate right now?
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "When getting ready to buy a house, after assessing your budget and affordability, you may want to give yourself time to save up for a larger down payment. Buyers who put down less than 20% may end up paying private mortgage insurance, which typically costs between 0.3% and 1.5% of your loan amount annually." | | | | – 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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