Summer’s just around the corner, but as the Iran conflict continues to affect fuel prices, more would-be vacationers are canceling plans for road trips and flights. This has contributed to consumer sentiment numbers sinking to a new low, with lower-income families hit especially hard. Rising inflation numbers have also introduced new challenges.

Home Financing

Housing That Keeps Generations Together

As housing costs climb and generations age, more families are opting for multi-generational properties. These larger homes are designed to house occupants from three generations, providing safety and privacy to everyone. It’s a lifestyle trend that’s more common within European countries, and is becoming more popular here in the United States.

Generation X buyers aged 46 to 61 are sometimes referred to as “the sandwich generation” because of their dual roles supporting their children and parents. They’ve increased their share of ownership of multigenerational properties from 12% in 2013 to 21% today. A recent Realtor.com report estimated there are 4 million multigenerational households, representing 4.5% of all owner-occupied households, as of 2024.

Like other larger homes, buying a home with sufficient room for three generations will be more expensive than a single-family home. However, they also provide their own money-saving features — for example, all residents can pay a percentage of the monthly utility bills.

Contact your local APM Loan Advisor to learn more about your family’s financing options for multigenerational properties.

Source: finance.yahoo.com

Insurance

Critical Illness Coverage: A Safety Net for Major Health Issues

If you have concerns about unexpected medical expenses, adding a critical illness policy — also called supplemental health insurance — to your existing insurance can provide peace of mind at a particularly stressful time.

Critical illness insurance provides a lump sum payment if you or a family member suffers a serious health issue. Depending on your coverage, these may include a heart attack, diagnosis of a chronic illness, or an organ transplant.

A major advantage of this coverage is that, in most cases, you can use your lump sum payment for nearly anything you like. In addition to hospital stays and medical bills, you can finance travel to medical centers and hospitals or cover everyday expenses like rent or groceries. It can also help pay for an out-of-network provider.

While this coverage can be a lifesaver, be sure to review your current health benefits before you decide on your ideal level of critical illness coverage. Some employers offer this as an additional benefit at a low cost, so you may want to buy this coverage when it’s time to review your benefits package.

This article is provided for informational purposes only. For specific advice about insurance products and coverage options, please consult with a licensed insurance professional.

Source: investopedia.com

In the News

More States Prohibit Employers from Checking Your Credit

If you or a family member is job-hunting, there may be concerns about potential employers checking credit histories. This has become a controversial practice as some have pointed out that it may unfairly screen out some applicants, especially those with lower incomes.

Last year, 39 bills to restrict employer credit checks were introduced in 19 states, but restrictions are only active in:

• California
• Colorado
• Connecticut
• Delaware
• Hawaii
• Illinois
• Maryland
• Nevada
• Oregon
• Vermont
• Washington

There are some jobs where a credit check may be necessary, including those applying for jobs in banking and finance, and those where credit checks are required under federal law.

No matter where you live or what type of position you’re seeking, it’s a good idea to review your free annual credit reports at annualcreditreport.com before attending an interview. If you spot errors, you can request corrections on the site. You’ll also be prepared to explain any negative information they may contain.

Source: credit.com

Credit and Consumer Finance

Higher Gas Prices Encouraging More Staycations

Summer vacations are just around the corner, but higher fuel prices are expected to affect road trips and flights to holiday destinations. A recent poll found that a substantial number of would-be vacationers have already changed or cancelled their plans for summer travel as gas prices have increased by 50% since the Iran conflict began.

One way to temporarily bring down prices for motorists is to suspend the federal gas tax. This move is supported by the White House, plus a number of senators and representatives.

Currently, taxes and other fees on retail gasoline and diesel fuel are 18.4 cents per gallon for gas and 24.4 cents per gallon for diesel, according to the U.S. Energy Information Administration. In addition, some states have taken steps to offer state gas tax relief. This varies from 9 cents per gallon for Alaskan drivers to 71 cents per gallon for California residents.

Reducing or pausing the federal gas tax would require congressional approval, but several lawmakers have supported this move as early as March 2026. However, some economists have concerns that suspending this tax won’t provide adequate relief for many budgets. In addition, it could adversely affect the balance of a key federal fund for highway construction and maintenance.

Source: cnbc.com

Did You Know?

Adding Gold to Your Retirement Investments

Thinking about adding gold to your retirement portfolio? The “three bucket strategy” is a popular retirement plan that separates your short-, medium- and long-term goals, and you can add gold to this and other retirement plans.

If you’re still planning your retirement savings, here’s how the bucket strategy works.

• The first bucket is for the short term. This is typically made up of cash and cash alternatives, such as certificates of deposit (CDs), that can pay for everyday expenses, like housing, gas and groceries.

• The second bucket is for bonds and income-generating stocks and represents cash you may need in three to seven years.

• The final bucket contains long-term growth assets that have time — like eight years or more — to ride out any volatility. These should be left alone so they’ll have time to recover from corrections.
  

Since gold prices can be volatile, you may want to add it to your long-term assets. This gives it flexibility to recover from market downturns. Experts typically recommend limiting gold to 5-10% of your portfolio.

Like any other new investment strategy, it’s important to assess your personal risk tolerance and financial goals. Ask yourself if you’ll be comfortable with the price swings that gold may exhibit, and if you prefer to store physical gold or invest in a fund.

The information in this article is provided for general informational purposes only and should not be construed as investment, financial, tax, or legal advice. For guidance tailored to your individual financial situation, contact your local APM Loan Advisor for a referral to a qualified investment advisor or Certified Financial Planner (CFP®).

Source: money.com

Foreclosure pressure in the South is at its highest point since 2019, while the West’s housing market is thriving compared to the rest of the country, according to a new industry report.

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“What our data is showing is essentially two housing markets inside one country,” said Matt Layton, senior vice president of consumer analytics for LegalShield, in a press release Tuesday. “The West is the lone outperformer, the only region running above prepandemic norms across foreclosure, construction and sales simultaneously. The rest of the country is under pressure, and the South is where that pressure is most acute.”

LegalShield’s April foreclosure index rose 46.4% year over year to 52.4 in the South, which led the country in building and buying from 2020 to 2022. The escrow consequences of that have reshaped monthly payments, the report said.

“What’s driving the foreclosure calls in the South isn’t the principal and the interest, it’s the escrow,” said Ben Farrow, LegalShield provider attorney and partner at Anderson, Williams, & Farrow, LLC, in the release. “Homeowners insurance and property tax increases have quietly reset the total monthly payment higher on loans people thought were stable. That payment shock is what’s moving people from financial stress to legal action.”

The housing construction index in the South also fell 3.3% year over year, while the home sales index increased 5.7% annually but was still 10.2% below February 2020 levels.

The foreclosure index in the West spiked 21.8% year over year to 35, which was the lowest regional reading in the country and 29.6% below prepandemic levels. The housing construction index rose 4.5% annually to 146.3, the only region above its prepandemic average, while the housing sales index also jumped 11.9% from April 2025, the strongest sales rebound in the country and again the only region above prepandemic norms, according to the report.

“The West is the one part of the country where all three signals are pointing in the right direction at the same time,” Layton said. “That’s a fundamentally different housing environment than what we’re seeing in the South or the Midwest.”

The Midwest foreclosure index was the highest of any region at 55.4, increasing 11.2% year over year. Meanwhile, the Northeast was the only region where foreclosure pressure declined, dropping 10.4% annually to 52.5.

The national foreclosure index reached 49.7 in April, up 13.5% year over year and 71.3% from April 2021. April was the second straight month at the highest sustained level since spring 2020. The construction index also fell 1.4%, and the sales index ticked up 1.3%, the report found.

“What we flagged in April as an emerging foreclosure trend has now sharpened into a regional story,” Layton said. “The direction we predicted is unmistakable. This is nowhere near a 2008-style crisis, the Great Recession peak was 283.2 in March 2009, and we’re at 49.7, but foreclosure pressure is now in its second consecutive year of double-digit gains, and the South is bearing the heaviest load.”

Attom’s May foreclosure report showed similar trends. Southern states, Florida and South Carolina, posted the worst foreclosure rates in the country last month, followed by Maryland, Nevada and Indiana. Cleveland and Baltimore recorded the worst rates among retro areas with a population of at least 2 million. Tampa and Orlando, Florida, also cracked the top five.

Nationally, foreclosures hit 40,355 in May, down 5% month over month and up 14% on an annual basis.

“Foreclosure starts and completed foreclosures both increased compared to last year, reflecting ongoing pressure on some homeowners as elevated mortgage rates, rising ownership costs and affordability constraints persist,” Attom CEO Rob Barber said in a press release. “At the same time, foreclosure volumes remain well below historical norms, indicating that the housing market continues to show resilience despite these challenges.”