Top news articles for financial advisors and personal finance
Week of 9/19
This week's recap focuses on Fed rate hike, impact of high mortgage rates on sellers and luxury home buyers, millennials hiring financial advisors and the gender disparity in investing.
Fed Goes Big Again With Third-Straight Three-Quarter-Point Rate Hike ( Nicole Goodkind, CNN)
This Wednesday, the Fed approved a 75-basis point rate hike to ease inflation. Read more about what this rate hike means for other metrics and how investors and consumers will continue to be affected.
After Years of Low Mortgage Rates, Home Sellers Are Scarce (Nicole Friedman, The Wall Street Journal)
With mortgage rates hitting highs not seen since 2008, families who would otherwise sell their homes are staying put, intimidated by the thought of having to borrow at much higher rates for the purchase of their new home. Read more about families that feel locked into their current homes, reluctant to give up their low rates.
Millennials are Finally Building Wealth and Hiring Financial Advisors (Suzanne Woolley and Misyrlena Egkolfopoulou, Financial Planning)
As Millenials are getting close to hitting middle age and their wealth has increased, Millennials have begun searching for financial advisors for the first time. Read more about what factors millennials should consider when choosing between financial advisors.
Addressing The Gender Disparity In Investing (Edward Hayes, Financial Advisor Magazine)
Not only do women approach investing differently than men (e.g., caring more about impact on society than just returns), there are also several other factors that may impact a woman’s investing strategy such as the fact that they tend to live longer and make less than men. Read more about how financial advisors can increase their engagement with women
Luxury Home Sales Suffer Biggest Drop In A Decade (Tracey Longo, Financial Advisor Magazine)
In the past three months, luxury home sales have fallen more than 28% since 2021 due to rising interest rates, inflation, stock market losses and economic uncertainty . Read more about how current environments have led luxury home buyers to invest elsewhere
