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- The surprising monthly cost of owning a new car (9 30 24)
The surprising monthly cost of owning a new car (9 30 24)
Anthony Hazzard
September 30, 2024
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Several states consider a million-dollar home average. Later in this email, you will find out which states are on the list.
💵 Today’s Top Stories
 | Owning a new car now costs … how much per month on average? Those costs have now “crossed an incredible threshold,” Clark says. Read more. |
 | This browser extension makes using airline miles and points simpler and faster. Here’s how it works and why we like it. Read more. |
 | If you’re no longer making money, what should you do when your credit card company asks you to update your income? Clark gives clear advice. Read more. |
 | We signed up for Cricket Wireless (plans as low as $30/month). Here’s how it compares to other cheap cell phone plans. Read more. |
 | If you have been sharing a Disney+ account with family and friends outside your household, there’s a new crackdown that may bring that party to an end. Plus, it may take an extra step to access Disney+ while you’re on vacation. Here’s everything you need to know. Read more. |
🏠️ Today’s Current Mortgage Rates
According to Freddie Mac, 30-year mortgage rates are 6.08% and 15-year rates are 5.16% as of September 26, 2024. The following chart shows the 30-year mortgage rate trend over the last year.
🏘️ Million-Dollar Homes Are “Average” in These U.S. States
Now that the Fed is cutting interest rates, we’re watching the housing market to see how it affects prices.
Those who weren’t interested in financing a home when the average 30-year fixed mortgage reached 7.76% (Nov. 2, 2023) may be interested now that the number is poised to dip under 6%.
One thing is clear: U.S. homes are extremely expensive already in certain states. A recent study based on Zillow data found that there are 621 U.S. cities where million-dollar homes are typical. It defined typical as the average home price in the 35th to 65th percentile.
Here are the five states with the most cities that meet that criteria:
1. California – 218
2. New York – 76
3. New Jersey – 60
4. Massachusetts – 44
5. Florida – 30
California has more cities that average million-dollar+ homes than New York, New Jersey, Massachusetts and Florida combined. And it added 20 such cities since 2023.
There are 15 states without a single city with average homes worth seven figures.
📊 Stat of the Day
👻 $100,000: The amount of money Ring will pay you. That is, if it selects you as the winner of a contest involving Ring cam footage that proves your current home is haunted. (Footage can be staged.) The judges include “Stranger Things” star Finn Wolfhard.
💰️ Deal Alert: Today’s Top Deals
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🎙️ Podcast
It’s time for "Clark Stinks!" Christa reads the latest "Clark Stinks!" submissions and Clark responds. Also, the crowds in Europe are insane right now. When people are zigging, consider zagging. Clark lists some alternative travel destinations that can help you avoid crowds and save money.
☎️ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
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