The collapse of Silicon Valley Bank and others may drive mortgage rates lower, says NAR Chief Economist Lawrence Yun.
The demise of three banks last week has been sending shockwaves through an already fragile economy. Could it have an impact on real estate, too?
“The Silicon Valley Bank failure, along with a few other banks, means that the Federal Reserve cannot be so aggressive in raising its short-term interest rates,” says Lawrence Yun, chief economist of the National Association of REALTORS®. “Therefore, mortgage rates will decline.”
Mortgage rates had been steadily rising in recent weeks, with the 30-year fixed-rate loan averaging 6.73% last week, according to Freddie Mac. The Fed has been making a series of aggressive rate increases, which may indirectly influence mortgage rates, over the last few months. Home buyers have been up against affordability woes, as mortgage rates are nearly double what they were just a year ago.
But as of Monday, mortgage rates had fallen about 50 basis points lower than last week. Yun says that when there is a panic in the financial market, investors often shift money toward safer assets, which tends to be U.S. Treasury notes and bonds. Mortgage rates lately have tended to follow the movement of Treasury yields, which are falling.
“So, a panic in a sense leads to an automatic stimulus to the economy from lower interest rates,” Yun says in public comments on LinkedIn. “The housing sector nearly always responds to falling mortgage rates, especially when there are job additions to the economy.” And if rates do head lower, more home buyers undoubtedly would still enter the housing market in response, he adds.
Bank Failures Spark Panic
Last Friday, the shutdown of Silicon Valley Bank became the second largest bank failure in U.S. history and the largest since the 2008 financial crisis. The bank was known as a large supporter of tech startups. About 15% of the loans in Silicon Valley Bank’s portfolio were residential and commercial mortgages, The Real Deal reported. Signature Bank and Silvergate Capital, both big lenders in the cryptocurrency space, also shuttered their doors.
To help avoid mass panic, the Federal Reserve, Federal Deposit Insurance Corp. and Treasury Department created an emergency program to backstop all deposits using the Fed’s emergency lending authority. That granted depositors full access to their funds as of Monday, and the agencies vowed to make all depositors whole. Usually, banks only insure up to $250,000 per account ownership category through the FDIC, an agency that was created in 1933 after thousands of bank failures. In this case, the federal government’s move to backstop uninsured money has been viewed as an unusual step.
President Joe Biden has been offering assurance to Americans that banks are safe. He vowed on Monday to “strengthen oversight and regulations of larger banks so that we are not in this position again.”Meanwhile, the bank failures may be a sign of trouble ahead for the tech industry. “Some businesses reliant on funding from Silicon Valley Bank [and others] may lack capital to continue its business or have to cut back,” Yun says. There could be some job losses ahead as a result, especially among some California tech companies, he adds. Local housing markets may be hampered by those job losses. But “broadly across the country,” Yun says, “more home buyers will enter the market [because of] lower mortgage rates.”
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We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, or concerns, or need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text, or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
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If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?
An article from HousingWire offers this perspective:
“The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. But more recently, market conditions have done an about-face. . . . now is the opportunity for everyone to become re-educated about what a ‘typical’ housing market looks like.”
This year, experts agree we may see the return of greater stability and predictability in the housing market if inflation continues to ease and mortgage rates stabilize. Here’s what they have to say.
The 2023 forecast from the National Association of Realtors (NAR) says:
“While 2022 may be remembered as a year of housing volatility, 2023 likely will become a year of long-lost normalcy returning to the market, . . . mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, . . .”
Danielle Hale, Chief Economist at realtor.com, adds:
“. . . buyers will not face the extreme competition that was commonplace over the past few years.”
Lawrence Yun, Chief Economist at NAR, explains home prices will vary by local area, but will net neutral nationwide as the market continues to adjust:
“After a big boom over the past two years, there will essentially be no change nationally . . . Half of the country may experience small price gains, while the other half may see slight price declines.”
Mark Fleming, Chief Economist at First American, says:
“The housing market, once adjusted to the new normal of higher mortgage rates, will benefit from continued strong demographic-driven demand relative to an overall, long-run shortage of supply.”
Bottom Line
If you’re looking to buy or sell a home this year, the best way to ensure you’re up to date on the latest market insights is to partner with a trusted real estate advisor.
The Caton Team is here to help. Our Silicon Valley Market is unique, so if you’re thinking of buying or selling – let’s chat about your options.
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
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This is especially true with your health, where the important issues almost never seem urgent even though your life ultimately hangs in the balance.
No, going to the gym today isn’t urgent, but it is important for your long–term health.
No, you won’t die from stress today, but if you don’t get it figured out soon, you might.
No, eating real, unprocessed foods isn’t required for you to stay alive right now, but will reduce your risk of cancer and disease.
Is there anything we can do? If we all have 24 hours in a day, how do we actually use them more effectively?
And most importantly, how can we manage our time to live healthier and happier, do the things that we know are important, and still handle the responsibilities that are urgent?
I’m battling with that answer just like you are, but in my experience there are three time management tips that actually work in real life and will help you improve your health and productivity.
1. Eliminate half-work at all costs.
In our age of constant distraction, it’s stupidly easy to split our attention between what we should be doing and what society bombards us with. Usually we’re balancing the needs of messages, emails, and to-do lists at the same time that we are trying to get something accomplished. It’s rare that we are fully engaged in the task at hand.
I call this division of your time and energy “half-work.”
Here are some examples of half-work…
You start writing a report, but stop randomly to check your phone for no reason or to open up Facebook or Twitter.
You try out a new workout routine. Two days later, you read about another “new” fitness program and try a little bit of that. You make little progress in either program and so you start searching for something better.
Your mind wanders to your email inbox while you’re on the phone with someone.
Regardless of where and how you fall into the trap of half-work, the result is always the same: you’re never fully engaged in the task at hand, you rarely commit to a task for extended periods of time, and it takes you twice as long to accomplish half as much.
Half-work is reason why you’re able to get more done on your last day before vacation (when you really focus) than you do in the 2 weeks previous (when you’re constantly distracted).
Like most people, I deal with this problem all of the time and the best way I’ve found to overcome it is to block out significant time to focus on one project and eliminate everything else.
I pick one exercise and make it my only focus for the entire workout. (i.e. “Today is just for squats. Anything else is extra.”)
I carve out a few hours (or even an entire work day) to deep dive on an important project. I’ll leave my phone in another room and shut down my email, Facebook, and Twitter.
This complete elimination of distractions is the only way I know to get into deep, focused work and avoid fragmented sessions where you’re merely doing half-work.
How much more could you achieve if you did the work you needed to do, the way you needed to do it, and eliminated the half-work, half-wandering that we fill most of our days with?
2. Do the most important thing first.
Disorder and chaos tend to increase as your day goes on. At the same time, the decisions and choices that you make throughout the day tend to drain your willpower. You’re less likely to make a good decision at the end of the day than you are at the beginning.
I’ve found that this same trend holds true in my workouts as well. As the workout progresses, I have less and less willpower to finish sets, grind out reps, and perform difficult exercises.
For all of those reasons, I do my best to make sure that if there is something important that I need to do, then I do it first.
If I have an important article to write, I grab a glass of water and start typing as soon as I wake up. If there is a tough exercise that I need to do, then I do it at the beginning of each workout.
If you do the most important thing first, then you’ll never have a day when you didn’t get something important done. By following this simple strategy, you will usually end up having a productive day, even if everything doesn’t go to plan. If you actually do the most important thing first each day, it is the only productivity tip you’ll ever need.
3. Reduce the scope, but stick to the schedule.
I’ve written previously about the importance of holding yourself to a schedule and not a deadline. There might be occasions when deadlines make sense, but I’m convinced that when it comes to doing important work over the long–term, following a schedule is much more effective.
When it comes to the day-to-day grind, however, following a schedule is easier said than done. Ask anyone who plans to workout every Monday, Wednesday, and Friday, and they can tell you how hard it is to actually stick to their schedule every time without fail.
To counteract the unplanned distractions that occur and overcome the tendency to be pulled off track, I’ve made a small shift in how I approach my schedule. My goal is to put the schedule first and not the scope, which is the opposite of how we usually approach our goals.
For example, let’s say you woke up today with the intention of running 3 miles this afternoon. During the day, your schedule got crazy and time started to get away from you. Now you only have 20 minutes to workout.
At this point, you have two options.
The first is to say, “I don’t have enough time to workout today,” and spend the little time you have left working on something else. This is what I would usually have done in the past.
The second option is to reduce the scope, but stick to the schedule. Instead of running 3 miles, you run 1 mile or do five sprints or 30 jumping jacks. But you stick to the schedule and get a workout in no matter what. I have found far more long-term success using the this approach than the first.
On a daily basis, the impact of doing five sprints isn’t that significant, especially when you had planned to run 3 miles. But the cumulative impact of always staying on schedule is huge. No matter what the circumstance and no matter how small the workout, you know you’re going to finish today’s task. That’s how little goals become lifetime habits.
Finish something today, even if the scope is smaller than you anticipated.
Time Management Tips That Actually Work
There are thousands of time management apps and productivity gadgets. You’ll find more calendars, reminders, and task lists than you know what to do with. But in my experience, the most effective and practical time management tips are simple.
When it comes to living a healthy and productive life, I do my best to focus on three time management tips…
Eliminate half-work and focus deeply.
Do the most important thing first.
Stick to your schedule and build the habit, no matter how small the accomplishment.
How have you managed your time better and accomplished more at work, at home, or in the gym? Let us know YOUR Tips!
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Hello Friends! Thank you Ryan Dang of Wells Fargo for these tips:
No matter what you’re saving for, these strategies will help you get there. – Set a Timeline. I.e. “By 2026, I will save $20,000 for a down payment on a home. – “Calculate a monthly savings amount for each goal. – Add the total monthly savings goals into your budget. – Consider budget shifts to accommodate the new goals. – Set up automatic deposit to your savings account. – Aim to transfer at least 10% of each paycheck. – Consider saving accounts that earn interest.
For short-term savings goals, consider low-risk accounts. These earn compound interest with higher APY.
– High-Yield Savings Accounts — Pays up to ten times the interest rate offered by traditional accounts. – CDs (Certificate of Deposit) — Must leave funds in for full-term to avoid early withdrawl penalties in most cases. – Money Market Accounts — Interest rates vary with the market.How long should you save for?
Savings Goal Duration Emergency FundShort-term VacationShort-term Down payment Short-to-mid term EducationMid-term Retirement Long-term
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
No one ever thinks wire fraud will happen to them, but the fact is, one in three real estate transactions will be targeted by a fraudster. How can you protect yourself from becoming a statistic?
Watch out for impersonation. In one of the most common forms of fraud, hackers pretend to be somebody else and send false instructions to infiltrate your transaction. These emails may appear authentic, using similar domain names and imagery such as logos.
Tip! Emails from your Escrow Officer WILL have their company name as the email. Realtors may not – so it is best to SAVE ALL Contact info in your device so you know it is the correct email and phone.
Follow wiring instructions. Read wire instructions carefully and review them with your escrow officer. Tip! Always verify the wire instructions by calling a trusted number. Never send your financial information over unsecured email.
Look out for common email tells. Subtly different email domains, misspellings, and last-minute changes may all be signs of fraud.
Hover over links or attachments before clicking to verify the source. Independently verify phone numbers, program the title company’s number in your phone and only accept calls from that number.
If something seems suspicious… If you receive a message to change wiring instructions…
Call your escrow officer at an independently verified phone number and confirm.
Defend your email. Fraudsters gather information about transactions by watching emails behind the scenes. Security measures such as multi-factor authentication can make it more difficult for hackers to force their way into your account.
My 2 Cents – SAVE YOUR CONTACTS! Use a photo or emoji to know that they are the one calling or emailing you and that it IS from the correct source. If something feels off – Call Your Realtoror your Escrow Officer Directly.
Thank you First American Title for this info.
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Each year, our annual Real Simple Home is bursting with design ideas we’re excited to try—but it may just be the smart organizing ideas that end up transforming our homes the most. This year, we collaborated with the organizing pros at The Home Edit to help tidy up the fridge, utility closet, and other clutter-prone spots around the house. After admiring The Home Edit’s color-coded closets on Instagram and watching them make over celeb spaces on their Netflix show, we thought we knew all their clutter-busting methods (rainbow order, right?). As it turns out, they had a few more tricks up their sleeves. The Home Edit experts Alli Bridgers, Emily Shreve, and Shaina Burrell helped us tidy every corner of the three-story house and taught us we’ve been organizing our fridges all wrong.
For even more tidying tips, check out The Home Edit co-founders Joanna Teplin and Clea Shearer’s new special-edition magazine, The Home Edit: Feel-Good Organizing. It may even inspire you to actually organize that junk drawer.
If you’re currently stacking yogurt cups and placing produce on the open shelves in your fridge, you’re doing it wrong. Clear storage bins will keep items contained while making it easy to see what’s inside. With transparent bins specifically designed for everything from berries to veggies, it’s easy to see when you’re running low on eggs or if you have excess carrots you might want to work into your dinner plans. Hidden near the back of a shelf, produce has a tendency to rot until you find it liquified weeks later, but sorted in clear bins, it’s easy to spot when greens are less than fresh.
To maintain the order, label each bin. “Fridge items have a high turnover rate, so use broad categories. Try ‘veggies’ and ‘condiments,’ not ‘cucumbers’ and ‘mayo,'” says The Home Edit experts. “This ensures that everything will always have a home!” Shaina explains.
Follow the 80/20 Rule
“You get the item or the space; you don’t get both,” says The Home Edit team. “Live by the 80/20 rule: Keep your home no more than 80 percent full and leave at least 20 percent for breathing room.” Allowing some open space will help your home feel calmer and less chaotic. Let this principle guide each room overall (no, you don’t need to cover every wall with art or fill the floor space with furniture), as well as smaller areas. For example, if you have bookshelves in the living room, fill them 80 percent of the way with books, collectibles, and decorative objects. Leave 20 percent open.
Make Organizing Intuitive
According to The Home Edit, fridges and pantries tend to be some of the toughest spots to keep tidy because they’re high-traffic areas frequented by the entire family. “Everyone in the home uses them on a daily basis, from adults to kids. This means the system must be intuitive and user-friendly for all ages,” they explain. If the system you’re using simply isn’t working, try something more realistic and less aspirational. Labeled and color-coded bins make it easy for everyone to figure out what belongs where. Consider keeping kid-friendly snacks on a lower shelf so little ones can help themselves. Arrange labeled bins for seltzers, cheese sticks, and condiments where you tend to store those items, rather than creating a new system that goes against the habits you’ve already established.
CHRISTOPHER TESTANI
Stop Storing Clothes You Don’t Wear
The biggest closet organization mistake The Home Edit team sees regularly? “When people hold onto things they never wear,” they say. “It’s just a waste of space! If you haven’t worn it in a year, you probably never will.” Sure, you can ask if it sparks joy or run it through a list of questions, but if you haven’t taken it off the hanger in the last 12 months, you probably won’t in the next 12 months either.
“Closets can be hard because there tends to be an emotional aspect to getting rid of clothing,” says The Home Edit. “Rather than going through every item of clothing separately, start by grouping them in categories. It will help you see where you have unnecessary duplicates and decide which items are worthy of keeping.” Strict rules (like the 12-month time limit) and practical considerations (like duplicates) may help you make more logical decisions when it comes to closet decluttering.
Swap Clothes With the Seasons
Unless you have an enormous walk-in closet with ample space for every single item you own, you’ll want to reorganize your closet as the seasons change. “Winter coats shouldn’t be front and center in the summertime,” Shaina says. Instead, move in-season clothing to the easiest-to-reach areas, and stash off-season items in breathable bins with lids or vacuum-sealed bags. Not only will your clothing have more room to breathe, but you’ll get ready more quickly when you can see all the in-season items at eye level.
Remember: Cleaning Is Not Organizing
Say it with us now: Cleaning is not the same as organizing. Cleaning can include wiping away dust, vacuuming debris, and getting rid of piles of old mail. Whereas organizing is all about creating systems that keep order in your house. “If you don’t create a sustainable system, a mess is bound to reappear. If you take the time to think through your habits, your home, and your lifestyle, you can create smart solutions that you’ll be able to maintain,” Shaina says. Beyond just decluttering and putting things away, organizing your house requires thoughtful consideration of where and how items are stored. Each household is different and the storage systems you choose should be customized for how your family lives.
CHRISTOPHER TESTANI
Organize According to How You Shop
If your utility closet and pantry are neat and tidy until you come home from Costco and suddenly toilet paper is falling off the shelves and giant snack packs are piled on the floor, you may need to reorganize according to how you shop. “If you are buying in bulk, make sure to have space for overflow items that don’t fit into your bins,” the Home Edit recommends. “If you have a huge amount of snacks, devote a couple of bins to those items so you aren’t cramming everything into a single container.”
As a huge fan of The Home Edit – I truly enjoyed sharing this article – now to get organizing!
If you need help organizing your Real Estate goals and making sense of this market – contact The Caton Team – we’re here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Numerous cyber threats lurk on the internet, but perhaps nothing is more dangerous to your business than having your computer or smartphone infected with a virus. Don’t ignore the signs: Your computer or phone may fail to start, begin operating at a slower speed or generate unknown error messages.
Most viruses make themselves known once your gadget has been infected. However, some lurk under the surface of your device and require detective work to find them. Check out these quick tips for determining whether your personal device is infected.
Your phone keeps restarting. Devices may restart themselves when you haven’t installed a critical update or there’s a random glitch in the software. Sometimes, however, your device may restart because a criminal has access to it and is installing malicious software. If this happens, shut your device down immediately. Take it to your tech professional to get a thorough check of your device for possible infection.
Random error messages appear. Most devices have antivirus software that runs automatically and keeps things running problem-free. So, it’s rare that your device will display error messages saying that you need to update drivers or there is a breach of your IP address. These messages are more likely to appear from malicious software that has been installed on your device or your browser being hijacked during a drive-by hacking. Sometimes, a simple reboot of your device is all you need to do to remove these bogus messages. You also can attempt to find the malicious program and remove it from your device.
A promise from tech support that’s really a scam. Watch out for these schemes in which a criminal may pose as tech support to gain access to your device and “solve” a problem for you. If you’ve fallen for one, you likely had software installed that allows them to log onto your gadget whenever they want to steal your valuable information. Again, look to see if there are any unknown programs installed on your device. If you find any that you are not familiar with, remove them immediately.
You can no longer access files on your devices. When you suddenly can’t access documents, videos and pictures on your gadgets, you likely have devices that have been infected with ransomware, one of the worst forms of malware. This malicious software will lock or encrypt your files so you can no longer access them. It also could be a variety of “wiper” viruses, which will wipe your device clean. If your device gets hit with ransomware or a wiper, your only option is to restore your files from a backup. Here’s an important reminder: Always keep a backup of your files.
Your devices are running hotter than usual. This could mean you’re a victim of “crypto-jacking,” where a hacker has installed malicious software onto your device. Crooks who are looking to mine cryptocurrency will take over computers, tablets, smartphones and, sometimes, gaming systems to use their power source to mine more cryptocurrency. Watch to see if your device won’t stay cool or shuts down because of overheating. If this happens, you will have to find the mining software running in the background and disable it.
How to Prevent Viruses in the First Place
Nearly all cyberattacks that happen to devices require user interaction. As such, in most instances, you will need to click on a link to open a door for a hacker to gain access to your gadgets or fall for a scheme that tricks you into allowing someone to gain access to your computer, laptop, smartphone or tablet.
In many instances, you can fix these issues by restarting your Windows, macOS, Android, or iOS device to see if your device works better. But if you can’t access files, this trick won’t work; only restoring from a backup will. Also, running a scan with your antivirus program might help pinpoint the offending program. If that’s not an option or these other methods don’t seem to be helping, you will need to call in tech support or an IT professional to do some additional checks.
As we rely on our devices more and more for work and throughout our personal lives, cyberattacks likely will only grow more common. Don’t be naive about the threats. Always stay vigilant when it comes to keeping your data as well as your business and personal information protected.
I thought this was a great article – thank you for reading…
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We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Not everything is meant to last forever, and throwing away or recycling past-their-prime items will help declutter your home. Free up storage space for the things you actually use by checking the expiration date on these household objects and ditching as needed. We’ll walk you through exactly when and how you should get rid of each item.
01of 19
Dish Sponges
MARTY BALDWIN
When to toss: After one month
Why toss it: Between washing dishes, scrubbing sinks, and wiping down countertops, sponges can come in contact with a lot of bacteria. To avoid spreading germs around your kitchen, it’s important to replace your sponge about once a month. In between changes, be sure to clean your kitchen sponges regularly using a bacteria-eliminating method, such as vinegar, bleach, or high heat. If your sponge starts to look dirty or smell bad even after it’s been disinfected, you should swap it for a new one immediately.
How to toss it: Traditional kitchen sponges, which are often made of plastic, should typically go in the trash, as they can’t easily be recycled. Sponges made from cellulose and other plant-based materials, however, are often biodegradable, so they can go in your recycling or compost bin when you’re done with them.
02of 19
Expired Food
PETER ARDITO
When to toss: On or near the expiration date
Why toss it: Expired foods can lurk at the back of your refrigerator and take up precious space needed for food you actually want to eat. To better organize your fridge, start with one shelf or area, remove all the items, and check the expiration date on each one. Throw it away immediately (or toss it in the compost bin!) if the date has passed or if you notice mold or an unpleasant smell. For prepared foods or leftovers, be sure to mark the date on the container when you first put it in the fridge so you know how long it’s been there.
How to toss it: Depending on the type of food, you should either pour the contents into the trash can, garbage disposal, or compost bin, then clean and recycle the container if possible.
03of 19
Plastic Containers
JAY WILDE
When to toss: Every few years for storage containers, immediately for disposable packaging
Why toss it: Plastic containers, especially those that are meant to be disposable, were not meant to be used forever. Plastic breaks down over time, which can cause chemicals to leach into your food. Check for signs of wear after each use, and toss any containers that appear discolored, warped, or cracked. You should also get rid of any containers that are missing a lid or have an unusual smell. Always dispose of single-use food packaging, such as yogurt containers or margarine tubs, immediately after you’re finished with the product.
How to toss it: Before you toss plastic containers in the garbage, check to see if it’s recyclable by looking for the stamped number inside the triangular recycling logo, usually found on the bottom of containers and bottles. Most recycling centers take plastic Nos. 1 and 2—which include many beverage bottles, milk jugs, peanut butter jars, and other containers—but it’s best to check with your community’s program to verify which types of plastic they can accept.
04of 19
Pillows
THE WILDE PROJECT
When to toss: Every few years
Why toss it: The material inside pillows breaks down with daily use, and all the dust, oil, and debris from your face can transfer to the pillow’s surface and interior space. Dust mites also accumulate, which can be troublesome to people suffering from asthma or allergies.
How to toss it: To get rid of your old pillows, consider donating them (after a good washing) to a local homeless shelter or animal shelter to be repurposed as bedding. However, because not all shelters will accept used pillows, it’s best to call ahead before bringing in your donation.
05of 19
Household Cleaners
WERNER STRAUBE
When to toss: After two years
Why toss it: Many of the ingredients that make cleaners and disinfectants effective will break down after time, reducing their effectiveness. You should dispose of cleaning products after a few years and replace them with fresh bottles. Consider labeling the new cleaning products with the date you purchased them so you can easily tell how long you’ve had them.
How to toss it: To properly dispose of household cleaners, check the manufacturer instructions on the label first. Water-soluble cleaning products, such as all-purpose cleaners, detergents, and stain removers, in liquid or powder form can usually be poured down the drain with running water. Once the containers are empty, you can typically recycle them in your curbside bin. For hazardous chemicals like oven cleaners, contact your local waste disposal center to find the best way to dispose of them.
06of 19
Cooking Oils, Herbs, and Spices
EDWARD GOHLICH
When to toss: Two years for olive oil, one year for herbs and spices
Why toss: Light and heat will break down oils and spices over time and make them less flavorful. To extend their shelf life, store these items in a cool, dry spot. Oils will smell rancid when they’re no longer good, and spices will lose their distinctive aromas (pinch some between two fingers to test).
How to toss it: Pour expired oils into a sealable, non-breakable container, then put it in the trash and recycle the original bottle. Dump old herbs and spices into your compost bin or trash can before recycling the container.
07of 19
Toothbrushes
ADAM ALBRIGHT
When to toss: After three months
Why toss it: Twice-a-day brushings wear down toothbrush bristles and reduce their effectiveness. Plus, stray bacteria or food debris may lodge in toothbrushes. Throw them away after a few months, especially if you’ve been ill. If you have an electric toothbrush, replace the removable head every three months or sooner if the bristles show wear.
How to toss it: Although you can’t typically toss toothbrushes in the regular recycling bin, some special recycling programs allow you to mail in your used toothbrushes for free.
08of 19
Photo Negatives
GREG SCHEIDEMANN
When to toss: Now
Why toss it: Photo negatives degrade over time and are cumbersome to store. To preserve your photos, use a service, such as scandigital.com, that will scan original images and send you digital copies. You can also buy a slide and negative scanner ($99, Walmart) and electronically store them yourself.
How to toss it: Old photographs and negatives should generally go in garbage, since the materials can’t easily be recycled. Alternatively, look into companies like GreenDisk that can accept film and negatives for recycling.
09of 19
Eye Makeup
CAMERON SADEGHPOUR
When to toss: After 6 months
Why toss it: Most eye makeup has some basic preservatives to keep it fresh, but those wear down or can be overcome by bacteria after a few months. Bacteria from the environment or your face can transfer to the brushes and then the makeup itself, which can cause irritation or even infection. Refresh mascara, eyeliner, eyeshadow, and other eye makeup products after about half a year.
How to toss it: Instead of tossing old products in the trash, consider donating your mascara wands to a program like Wands for Wildlife, which uses them to help tiny animals at wildlife refuges.
10of 19
Business Cards
ADAM ALBRIGHT
When to toss: Now
Why toss it: Stacks of business cards can quickly pile up and clutter your desk space. Instead of storing individual cards, add the information to your phone’s contact list. To make this process easier, use an app, such as ABBYY Business Card Reader, that scans the card and instantly adds the information to your contacts, allowing you to edit as needed.
How to toss it: Recycle paper business cards when finished.
11of 19
Vitamins
JAY WILDE
When to toss: After two years, or the expiration date
Why toss it: Like most food items, vitamins degrade in quality over time. Check the packaging for an expiration date. If the vitamins are unused by then (or you can’t find a date), replace them with new ones.
When to toss: After every summer, or with the expiration date
Why toss it: The protective chemicals in sunscreen break down over time, reducing the ability of the product to block out damaging rays from the sun. If you can’t find an expiration date on your bottles, dispose of them after pool season has ended.
How to toss it: Call your local waste management office to determine the proper way to dispose of sunscreen in your area. In some cases, it’s best to toss the entire sunscreen container into the trash, which helps prevent harmful chemicals from entering the water supply.
13of 19
Opened Nail Polish
REBEKAH MOLLOY
When to toss: After a year
Why toss it: Once they’ve been used, nail polish ingredients can evaporate or separate, causing inconsistent color and application. To prolong its shelf life, store your nail polish in a cool, dark place. If the polish becomes discolored or especially thick, it’s time to dispose of the bottle.
How to toss it: Nail polish often contains hazardous ingredients that require special care for disposal. Your best bet is usually to contact your local hazardous waste facility about drop-off, or let the polish dry out before throwing it away. Pour leftover nail polish onto newspaper, let dry completely, then throw all components into the trash.
14of 19
Gift Cards
MARTY BALDWIN
When to toss: Now
Why toss it: Gift cards can easily get lost or forgotten about inside your wallet. Instead, use a mobile wallet app, such as Gyft, to digitize the gift card information and store it on your phone. You can track the balance and redeem the card in-store with just a few taps on your phone.
How to toss it: Although they shouldn’t go in your bin at home, you can often recycle gift cards at the store they were purchased from. Contact the retailer to see if they’ll accept your used card for recycling.
15of 19
Opened Wine
ERICA MICHELSEN ALLEN
When to toss: After one to two days
Why toss it: Exposure to oxygen, heat, and daylight will cause wine’s aromas and flavors to fade. To keep an opened bottle of wine fresh and drinkable, recork it or seal it with a wine stopper as soon as possible. Stash the unfinished bottle in the fridge (this includes red wines) and plan to enjoy it within the next two days.
How to toss it: If you still have some leftover after a few days, pour the remains down the drain and recycle the glass bottle.
16of 19
Opened Paint
KIM CORNELISON
When to toss: After two to five years
Why toss it: Once the can is opened, the components in paint start to separate and break down. After a few years, this can make the paint difficult to mix, even with the most vigorous stirring. To repaint a room, take the color formula specifications to your local paint, hardware, or big box store and have them mix up a new can of paint to match.
How to toss it: When disposing of old paint, be sure to note the type of paint before deciding what to do with it. Oil- and alkyd-base paints are considered hazardous waste and typically need to be taken to a local hazardous waste drop-off site. You can dispose of old latex paint by throwing it in the trash, but you’ll need to dry it out completely first by using a paint hardener, cat litter, or shredded newspaper.
17of 19
CDs
LAURA MOSS
When to toss: Now
Why toss it: Plastic cases and CDs take up lots of shelf space, and they’re difficult to sort through and keep organized. To save your favorite songs before ditching the discs, pop them into a computer and import the tunes into your digital music library. If you can’t bear to part with your CD collection, take the discs out of the plastic cases and stash them in archival boxes.
How to toss it: Although most are made of plastic, CDs and their cases shouldn’t go in your recycling bin. Instead of trashing them, consider donating your old CDs to a local thrift store, or send them in to an organization like GreenDisk.
18of 19
Appliance Manuals
MARTY BALDWIN
When to toss: Now
Why toss it: Most major appliance and equipment manufacturers have made it simple for you to get rid of your how-to manuals: They’re available online as PDFs, free of charge. And if they’re not, online Q&A forums and company contact options make getting answers easier, too. If you’re worried about getting rid of very specialized instruction manuals, put them in a binder or file folder for more efficient storage.
How to toss it: Recycle paper manuals in your household bin.
19of 19
Bleach
STEVEN MCDONALD
When to toss: After three to five months
Why toss it: The chlorine in bleach dissipates over time, causing the cleaner to lose its effectiveness. Keep your bleach in good shape by storing it in a cool, dry place. The chemical should be replaced if the bottle is over a year old or you don’t notice a bleach smell as soon as you pour it from the container.
How to toss it: You can dispose of bleach down the drain as long as you dilute it with plenty of running water as you pour.
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
As a native Californian – droughts are part of our daily lives. I thought I’d share this great article from Caccia Plumbing.
Water plays a role in sustaining life on this planet. Not only does it provide life with a source of sustenance, but it also provides a means for its persistence: without water, as we know, we would cease to exist. With this being said, water is an important element for the preservation of life. At one point or another everyone needs plenty of water to survive — whether it be for drinking, washing clothes, or bathing. Fortunately, there are ways you can help conserve your water supply which can go a long way toward helping alleviate these impending shortages.
The first step in water conservation is to know your water usage patterns and how much water you’re using each day. You should also be able to identify where your water goes once it leaves your home or business. Next, you should start monitoring your bills and comparing them against other homes in your area so that you can make sure that you aren’t paying too much for water usage and that there are no leaky pipes or other issues concerning your water supply.
Finally, identify ways to reduce your water use through conservation methods like installing low-flow shower heads and faucets, and replacing old appliances with more efficient models.
To further understand how to conserve your water, continue reading this article up to the end.
How to Conserve Water at Home?
The easiest way to conserve water is to change to more efficient fixtures. However, there are more techniques for lowering your household’s water use.
In the Toilet…
The toilet is not a place for throwing out trash.
To save water, don’t flush cigarette butts, facial tissue, or anything else in the toilet. Put it in the garbage can or one of the many recycling bins around town.
Put a float booster or plastic bottles in your toilet tank.
To reduce water waste, put an inch or two of sand or pebbles inside every two plastic bottles. Fill the bottles with water, screw on their lids, and put them in your toilet tank. Or, if you want to spend less money than buying a tank bank, buy a float booster instead.
This can save up to 10 gallons of water per day. To ensure a good flush, make sure there are still at least three gallons of water in the tank. Users may keep the flush lever down for an excessive amount of time or do numerous flushes if there is insufficient water to achieve a proper flush. A two-flushed toilet at 1.4 gallons is worse than a single 2-gallon flush.
Get an Adjustable Toilet Flapper
The installation of an adjustable toilet flapper will enable the user to control the flush rate to the lowest setting possible per flush, resulting in a single excellent flush each time.
Install dual-flush or low-flush models.
The maximum flush volume for new toilets is 1.6 gallons, according to federal regulations. A toilet that uses 1.6 gallons of water every flush and is an ultra-low volume (ULV) would save 70% more water than a standard toilet, which will reduce indoor water usage by 30%. Conversely, think about investing in a dual flush toilet or installing a dual flush converter, which converts a conventional toilet into a dual flush toilet and helps the typical household save 15,000 gallons of water annually. When necessary, more water can be utilized, but for the majority of flushes, you’ll use 70% less water, which adds up to sizable water savings.
In the Laundry…
Use the clothes washer just for full loads.
Avoid the permanent press cycle on your washing machine since it requires an additional 5 gallons (20 liters) of water for the extra rinse. The water level should be changed for partial loads to correspond with the load’s size.
Consider using a high-efficiency washer
When compared to a conventional washer’s staggering 54 gallons each load, the most efficient washing machines consume as little as seven. In terms of water and energy savings throughout its lifespan, a high efficiency (HE) washer ought to easily pay for itself. New Energy Star-rated washers consume 35 to 50% less water and 50% less energy each load. Read our post about water-saving frontload washers if you’re in the market for a new clothes washer.
In the Shower…
Consider installing low-flow faucet aerators, water-saving showerheads, and shower timers.
Low-cost shower heads or restrictors that save water are simple for homeowners to install. Long showers can use five to ten gallons per minute that are not required. Low-flow refers to a use rate of under 2.5 gallons per minute. A Shower timer, which automatically ceases a running shower once it gets heated, is simple to install.
Shorten your showers
Turning off the shower after washing up and then turning it back on to rinse is one approach to using less water in the shower. 20 to 40 gallons of water are used in a four-minute shower. Turning off the shower after washing up and turning it back on to rinse is one approach to reducing water use. Between 20 and 40 liters of water are used during a four-minute shower. Another option is to install a basic shower timer, which you can get at your neighborhood hardware shop or water utility.
In the Faucets and Sinks…
Faucets Aerators
The least expensive solution for conserving water at home is this! Saving water in the bathroom is easy with a low-flow aerator.
Once you’ve wet your toothbrush, turn off the water.
You don’t have to keep the water flowing while you wash your teeth. Just moisten your brush and fill a glass with water to rinse your mouth.
Clean your Razor in the Sink
If you’re looking to save water, try filling a sink with a few inches of warm water. It uses far less water than running water and will rinse your razor just as well.
Reduce the use of garbage disposals
In-sink “garburators” add significantly to the volume of sediments in a septic tank while also using a lot of water, which might cause maintenance issues. As an alternative to throwing food waste in the trash, start a compost pile.
Use the dishwasher instead of hand washing the dishes
Contrary to popular belief, hand washing dishes really uses a lot more water than running the dishwasher, even if you have a water-saving model. According to the EPA, an effective dishwasher consumes half as much water, saving close to 5,000 gallons annually.
Avoid leaving the water running when hand-washing dishes.
If your sink has two basins, use one basin for washing dishes and the other for rinsing. Dishes should be gathered in a dish rack and rinsed with a sprayer or a pan of hot water if you have a single-basin sink. To make this simpler, dual-swivel aerators are available. Usually, pre-rinsing the dishes is not necessary while using a dishwasher.
Avoid leaving the water running when cleaning vegetables.
Simply wash them in a sink with a stopper or a basin of clean water.
Check for Leaks…
Check for Faucets and Pipes Leaks
20 liters of water might be lost per day by a little drop from a faucet washer that has worn out. Hundreds of liters might be lost by bigger leaks. While some faucet leaks are noticeable right away, some require a bit more work to find. Dry the tubs and sinks completely and let them sit for an hour. You’ll discover a leak if you find any moisture. Dry the area around the faucet handles before running the water to check for leaks. If there is a leak, you will see water gathering near them.
Check for Toilets Leaks
Fill your toilet tank with a little food coloring. If, after 30 minutes without flushing, color develops in the bowl, you may have a leak. Most replacement components are affordable and easy to install.
Check for Hidden Water Leaks Using Your Water Meter
Before and after a two-hour period during which no water is utilized, read your household water meter. There is a leak if the meter doesn’t read precisely the same every time.
In your yard and garden…
Avoid running the hose when washing your car
Use a bucket of soapy water to wash your car. Use the hose solely to rinse; this easy tip can help you save up to 100 gallons of water while washing a car. To make better use of the water for rinsing, use a spray nozzle. You can also use a waterless car washing system instead; there are a number of manufacturers that are now available.
Clean Driveways and Sidewalks with a Broom instead of a Hose
One method to clean leaves or stains from your sidewalks is to use water to blast them off, but using a broom to first loosen the dirt and grime will use less water and take less time overall.
Cover Your Swimming Pool to Reduce Evaporation
Evaporation causes swimming pools to lose an inch or more of water per week. The speed at which water evaporates might vary depending on the temperature, humidity, wind, and location of the pool. Get a pool cover to prevent wasting hundreds of gallons of pool water per season.
How Easy Can You Save Water?
Aside from installing a water meter, what else can we do to save water at home?
The first step toward achieving a water-efficient home is changing our mindsets. We must realize that we don’t need to shower for half an hour or have the tap running while we brush our teeth, and once we do this, everything will come into perspective.
The first step in becoming more water-efficient is changing our habits. We have to adopt a mindset that focuses on the things we can control—not on what we can’t. We must realize that we don’t need to shower for half an hour or have the tap running while we brush our teeth. Once we realize that there are ways to reduce our water usage significantly while still enjoying the same level of comfort, we’ll be able to see what’s possible.
For those who enjoy delving deeply into water conservation, there is also a little game. We could try to calculate the amount of household water consumption per day.
Our water footprint is the resulting number. Each product we use requires an amount of water, but we are not able to calculate the exact amount of water that goes into making each product. This number is startling in and of itself, but figuring out how much water we are literally pouring down the drain will be enough for now.
Final Thoughts!
Water conservation is a topic that we can all get behind. It’s not just about saving money, it’s about protecting our planet as well. If we use this precious resource wisely, we can help keep the climate of our planet stable and healthy for future generations to come.
What does this mean for you? It means you should use your water wisely—and make sure everyone else in your family or household knows how to do the same. We know this is not always easy—but if it saves even just one drop per day that would otherwise be wasted into the environment, then it will be worth it!
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Inflation eased slightly in July, which could bode well for the housing market in the months ahead, says Lawrence Yun, chief economist for the National Association of REALTORS®. Overall, inflation slowed from 9.1% in June to 8.5% in July, but prices for food and rent continued to climb, the Bureau of Labor Statistics’ Consumer Price Index showed Wednesday.
Still, the slight deceleration suggests that consumer price inflation may have peaked, which suggests that mortgage rates also may have peaked, Yun says. The level of inflation “is still high and uncomfortable but may indicate the start of a steady retreat,” Yun adds.
Gasoline prices posted a 7% monthly decline, a significant contributor to the recent moderation in inflation. However, prices remain 44% higher than a year ago and 104% higher than two years ago. Also, the CPI showed that the rising costs of food, up 10.9% in July, continue to hit many Americans’ pocketbooks. That’s the highest increase in food prices since May 1979. Household energy costs were up 20.5%, and furniture costs were up 14.8%.
Rents continued to rise in July, up 6.3% compared to a year prior, the CPI showed. “That is a testament to the ongoing housing shortage,” Yun says.
But could the worst of sky-high inflation be behind Americans? Yun thinks so. “If there is a sustained decline in gasoline prices and more production of apartments and single-family homes, consumer prices will pull back, encouraging the Federal Reserve policy to be less aggressive,” Yun says. “Mortgage rates will fall.”
On Wednesday morning, the 10-year Treasury yield stood at 2.7%. “That should translate into 30-year mortgage rates pulling back to under 5%,” Yun says. “Some recent potential home buyers who were pushed out of the market may now be able to get back in and qualify for a mortgage.”
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
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