Fed raises rates by quarter point

On Wednesday afternoon, Fed Chairman Jerome Powell confirmed that his Fed remains independent of the White House. On Monday, President Donald Trump berated the Fed for even considering raising rates. Yet that’s exactly what Powell and the Federal Open Market Committee voted to do at today's monetary policy meeting. The stock market fell on the news. 

The U.S. Federal Reserve lifted short-term interest rates by a quarter percentage point, pushing up costs for everything from credit cards to adjustable-rate mortgages. But the central bank also suggested a slower pace of tightening next year, with two rate increases instead of the three investors had been expecting. Wednesday's increase sets the target for the benchmark federal-funds rate at 2.25% to 2.50%.

Interestingly, the 10-year Treasury bond yield fell, signaling that the Bond Vigilantes are leaving it to the Dow Vigilantes to punish the Fed for its Grinch-like decision. In my opinion, by proceeding with today's rate hike and suggesting that two more are on the way for 2019, the odds that there will be no rate hikes in 2019 have increased. That’s confirmed by the reaction in the bond market. 

It's the ninth move higher since 2015, and the fourth this year, as economic growth and inflation pick up.  

The Fed is forecasting 2 more rate increases in 2019.

Life Hack: Use This Site To Get Discounts On Just About Anything

Why waste your time waiting in line at some store or restaurant when you could order the same thing online in seconds? If you can relate, you’re going to love this online discount trick.

I use a Chrome extension to find the best coupon codes for me, and it takes zero effort. It’s called Wikibuy.

Here’s how it works:

Wikibuy is super popular for finding discounts on Amazon, Best Buy, J.Crew, Expedia and many other stores. But most people don’t know that Wikibuy works on a ton of food websites, too.
Just add the extension to your browser, and shop like normal. 

Wikibuy automatically looks for coupon codes while you shop on Postmates, Seamless, Pizza Hut, Grubhub, Instacart and a bunch of other sites. Then at checkout, it magically applies the best coupon code to your cart. All you do is click the notification, and Wikibuy does all the work.

You could save hundreds of dollars on electronics from televisions to computers! 

The best part? It’s totally free. Do yourself (and your wallet) a favor and get Wikibuy HERE.

Great News For Home Sellers & Buyers! FHA Loan Limits Increase in 2019!

Great news for home sellers and buyers! On January 1, 2019, the Federal Housing Administration's (FHA's) loan limits are set to increase across most areas in the country. The U.S. Department of  Housing and Urban Development (HUD) announced that FHA loan limits would be increasing in more than 3,000 counties, with the loan limit ceiling increasing to $726,525 from $679,650 in high-cost areas of the country.

     HUD announced the FHA would also increase its floor to $314,827 from $294,515 in 2019. The limit would also increase for FHA-insured Home Equity Conversion Mortgages (HECMs) to $726,525 from $679,650.  Clarifying this increase, HUD said, "FHA's current regulations implementing the National Housing Act's HECM limits do not allow loan limits for reverse mortgages to vary by MSA or county; instead, the single limit applies to all mortgages regardless of where the property is located."

       These changes in FHA's floor and ceiling caps mean that the maximum loan limits for FHA forward mortgages would rise in 3,053 counties and remain unchanged in 181 counties. The rise in forward mortgages in the over 3,000 counties would also be due to the robust increases in median housing prices and the required changes to FHA's floor and ceiling limits that are tied to the Federal Housing Finance Agency's (FHFA's) increase in the conventional mortgage loan limit for 2019.

      Giving the definition of what is considered a high-cost area, HUD said that the National Housing Act required FHA to establish its floor and ceiling loan limits based on the loan limit set by the FHFA for conventional mortgages owned or guaranteed by Fannie Mae and Freddie Mac. Giving a breakdown, FHA's 2019 minimum national loan limit, or floor, of $314,827 is set at 65 percent of the national conforming loan limit of $484,350. This floor applies to those areas where 115 percent of the median home price is less than the floor limit.

     As a result of this calculation, "Any areas where the loan limit exceeds this 'floor' is considered a high-cost area, and HERA requires FHA to set its maximum loan limit 'ceiling' for high-cost areas at 150 percent ($726,525) of the national conforming limit," HUD said.

Is Your Furnace Affecting Your Indoor Air Quality?

The push to make our houses as energy-efficient as possible has, in some cases, led to unintended consequences. Because modern houses are less drafty due to tighter-fitting windows, doors and weather stripping, pollutants that were vented in the past are trapped inside. Most of the pollutants are relatively harmless, but some can be dangerous, and they all contribute to what some people call "sick house syndrome."

"Pollutants" is a broad term, and can include things like dust mites, pet dander, mold spores and viruses, as well as gaseous pollutants like tobacco smoke and the off-gassing from paints, cleaning products and some building products. They can lead to headaches, dizziness, irritation of eyes, nose and throat, fatigue and more serious illnesses. If you experience these symptoms while in your house, but not when you are away from home, indoor pollutants may be the cause.

The best solution is to remove the cause of the pollutants and ventilate the space with fresh outdoor air. Unfortunately, natural ventilation is not always practical. No one is going to throw open the windows on a cold winter's day, nor are they likely to open the windows if the house is cooled by a central air conditioning system—as the purpose of a tightly sealed home is to conserve energy.

However, you can also help remove some of the pollutants by upgrading the filter used in your forced-air heating and cooling system. The basic furnace filter is designed to keep dust and large particles out of the machinery, but more advanced filters can effectively remove pollutants, including viruses and odors, using a variety of methods. Standard filters simply trap particles on a flat filtering medium, while others have deep pleats with added surface area. Electrostatic filters provide an electrical charge that helps trap some particles more effectively.

Pick a Filter

There are a number of rating systems to help sort out the types of filters available. The systems will help you compare filters from different companies. The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) developed the minimum efficiency reporting value (MERV) for filters. MERV rates filters on a scale from 1 to 20, with 20 being the most efficient at removing pollutants. According to the Environmental Protection Agency, filters in the 7 to 13 range are likely to be nearly as efficient as high-efficiency particle arrestance (HEPA) filters at removing airborne particles. Filters with higher ratings are used in hospitals, laboratories and clean rooms.

Be sure to buy the size filter that fits your system. The information should be in the owner's manual or on the furnace itself. If you don't have it, take the existing filter to the store with you. If you choose a high-efficiency filter, read the packaging carefully, as some need to be changed more frequently than others to function properly.
Inline purifiers are another option. These are installed inside the air ducts to remove pollutants. Some employ ultraviolet radiation to kill bacteria, allergens and mold. Others use a catalyst to oxidize pollutants (including gaseous ones), a process that converts the pollutants into harmless hydrogen and oxygen. Inline purifiers are usually used in addition to - not instead of - furnace filters.

Other Steps to Take

Installing a high-efficiency furnace filter is a good first step for tackling indoor air pollution. It's something that you can do right away, for little money—a premium filter will cost less than $25. However, it won't solve every type of pollution problem. Here are some other steps to take:

Make sure range hoods, bathroom ventilation fans and dryer vents are all working properly. They vent moisture and odors to the outside. Getting rid of moisture vapor in bathrooms and kitchen will help prevent mold.
Install carbon monoxide (CO) detectors in your home. CO is a byproduct of combustion, and if it accumulates in your home, it can be lethal.

Have your house tested for radon. Radon is an odorless, invisible gas that is a byproduct of uranium that occurs naturally in the soil. If it leaches into your home, it can lead to serious illnesses. Test kits let you take a sample of air from your home and send it to a lab for results. If you do have elevated levels in your home, don't panic. Radon mitigation products are straightforward and simple to install.

Protect yourself from the pollutants in your air by replacing your furnace filter as needed, and making sure to ventilate your home with fresh air whenever possible.