Volatility is the watchword for the markets following the UK’s Brexit vote. What’s the best course for investors to follow? The Schwab Market Commentary offers analysis and recommendations. One immediate result of the Brexit was a bond rally followed by a drop in US interest rates on 30-year home loans. With rates at their lowest level in three years, Reuters reports on the soaring numbers of refinancing applications and suggests rates are likely to fall still further. In good news for Georgians, Genworth’s annual Cost of Care Study reveals that while home care costs have risen nationally, they remain flat in Georgia. Since an estimated 70% of Americans over 65 will require home care services during their lives, there’s no better time to prepare a plan to cover the costs.
Buckle Up: Markets Poised For More Volatility– Markets have been on a wild ride following Britain’s vote to exit the European Union (EU). The S&P 500 index suffered two of its worst single-day losses of the year immediately after the “Brexit” vote, followed by two of its largest single-day gains. And the ride isn’t likely to end soon. Schwab believes volatility will continue to be a theme for stock markets the rest of the year, for a number of reasons. Read more…
U.S. Home Refinancing Hits Highest In One-And-A-Half Years As Rates Drop– Applications for U.S. mortgage refinancing jumped to their highest level in 1-1/2 years last week as interest rates on 30-year home loans fell to their lowest in over three years. The average rate on 30-year home mortgages fell to 3.66 percent, the lowest since May 2013, from 3.75 percent the previous week. The number is less than a quarter-percentage point above the historic low of 3.47 percent recorded in December 2012. Read more…
Home Care Costs Remain Flat In Georgia; Overall Costs Are Up– While the cost to receive long term care services at home with a home health aide has increased nationally, these costs in Georgia have remained flat, according to Genworth’s 13th annual Cost of Care Study. Home is where most Americans receive long term care. This study summarizes the cost of long term care in Georgia. Read more…