Kehoe Financial Services

02/23/2024

Mortgage demand has experienced a significant decline, reaching its lowest level since 1996, as interest rates continue to rise. Here are the details:

🏘️ The total mortgage demand fell by 6% compared to the previous week, while applications to refinance a home loan dropped by 7% for the week.

🏠 Applications for a mortgage to purchase a home also fell by 6% for the week.

📂 The average contract interest rate for 30-year fixed-rate mortgages increased to 7.53%.
Additionally, the average rate on the 30-year fixed mortgage rose even higher, reaching 7.72% this week.

🦥 The purchase market has slowed down to the lowest level of activity seen since 1995.
Interestingly, there has been an increase in adjustable-rate mortgage (ARM) applications, which now make up 8% of purchase applications.



Source:

Mortgage rates just continue to climb higher, taking a particularly big leap last week.

02/22/2024

Visit kehoefinancialservices.com to learn more! 📢 Medicare drug price negotiations may have a muted impact on drugmakers in the near term.

✅ Analysts suggest that other factors like competition and patent expirations may already affect revenue and profits.

💊 Some drugs on the list are not significant contributors to their company's business.

📅 Negotiated prices won't go into effect until January 2026.

🔒 Lawsuits filed by drugmakers may prevent negotiated prices from being implemented.

🩺 Negotiations may have a more significant impact in future rounds, especially for biologic medications.

🤔 The long-term impact of negotiations could influence drug development strategies.



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Many of the drugs are already facing strong competition from other branded medications or patent expirations that will open the market to generic alternatives.

02/21/2024

Visit kehoefinancialservices.com to learn more!

02/20/2024

Learn to protect your personal information! Visit kehoefinancialservices.com to learn more! 🚗🔒 Carmakers are failing at protecting owners' privacy.

📊 Study finds major car manufacturers admit to potentially selling personal information, with half willing to share it with government or law enforcement without a court order.

📡 Proliferation of sensors in cars makes them data-collection hubs, raising concerns about privacy and security.

💡 Cars score worst for privacy among various product categories, lacking transparency and control for drivers.

🔍 Researchers urge carmakers to prioritize privacy standards and provide options for data deletion.



Source:

Cars are getting an “F” in data privacy. A new study finds most major brands admit they may be selling your personal data.

02/19/2024

Check out this informative video on bull and bear markets to better understand how the stock market works!

Learn about the difference between bulls and bears—markets, that is!

02/16/2024

Having an estate strategy means that decisions about your family, assets, and your health care remain in your hands. Learn about 4 elements that may help you. Watch here:

Learn about the importance of having an estate strategy in this helpful and informative video.

02/15/2024

Effective Financial Planning requires patience. Contact us today at kehoefinancialservices.com to get started!

02/14/2024

From Kehoe Financial Services!

02/13/2024

Contact us at kehoefinanservices.com to learn more! Boosting Families with the Child Tax Credit Expansion

The proposed expansion of the Child Tax Credit is set to change the financial landscape for millions of families, providing them with much-needed relief.

If this expansion goes through, it could mean:
1. Increased financial stability for households struggling with the cost of raising children.
2. More resources for families to invest in their children's futures.
3. A significant reduction in child poverty across the country.

This change could be a game-changer for many. Stay tuned for updates and see how you might benefit from this potential shift in policy.

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02/12/2024

With Valentine's Day fast approaching, I thought it would be fun to share these deliciously intriguing (and wonderfully scented) financial stats:

🍬 Americans spent $2.2 billion specifically on Valentine's Day candy in 2022

💗 Candy conversation hearts account for 11.4 percent of V-Day candy sales

🌹 Florists stock approximately 250 million roses on average for Valentine's Day

Are you buying something for that special someone or spending the day treating yourself?

'sday

02/09/2024

Market expert warns of a potential full-blown financial crisis in China's economy due to the property bubble and soaring debts, offering insights into two possible scenarios.
🏢 China's property market, accounting for up to a third of GDP, is a leading negative with deep debt and falling prices.
💡 Temporary rebounds may come from the thriving tech sector, while a collapse similar to the US real estate downturn in 2008 is also a possibility.
💥 The crisis scenario is more probable, and China's next step is likely to be dramatic.

Source:

China's property sector debt limits Beijing's options economic support, and could indicate a coming crash, Ruchir Sharma wrote in The Financial Times.

02/08/2024

Did you know that 1 in 5 Americans have inactive 401(k)s worth thousands of dollars? Don't let your hard-earned money go to waste! Here's how to reclaim yours.

How to find a lost 401(k):
1. Contact your old employer's HR department
2. Check old 401(k) statements for account details
3. Use look-up databases like the National Registry of Unclaimed Retirement Benefits or the National Association of Unclaimed Property Administrators
4. Check the Department of Labor's abandoned plan database

Once you've located your plan, you can:
🔁 Request a direct rollover to your new employer's plan
💼 Transfer the funds into an existing IRA
🤔Cash it out (but beware of taxes and penalties)


Source:

Rolling over an old 401(k) into a new plan can be a pain, but it's typically worth the hassle.