Going Green(er): 3 Common Waste Items You Had No Idea You Can Recycle

Going Green(er): 3 Common Waste Items You Had No Idea You Can RecycleIt has never been more popular to live a “green” lifestyle and develop sustainable living practices that will help out the planet. While you may be used to recycling cardboard boxes and giving away your old hand-me-down clothes, there are probably a few household items you didn’t even know you could recycle! If you’re wondering what to do with some of your old, used items, here are a few things that may be ready for re-use.

Re-constituting Your Lenses

It’s common to think your eyeglass prescription only works for you, but an easy way to re-use old eyeglasses is to take them to your local optician or optometrist’s office so that they can make use of them. Not only will someone in need be able to use the frames that you’ve provided, your lenses may be donated to another person with a similar prescription who will truly appreciate the gesture.

Old Phones & Electronics

It can be tempting to throw out an old phone with a shattered screen or an aging laptop that no longer turns on properly. However, with technology being obsolete almost as soon as it hits the market, it’s more important than ever to recycle these items. Old technology like iPods, iPhones, cell phones, chargers and digital cameras can be taken to your local electronics or “big box” store and recycled as part of their e-waste program. Before discarding any electronics that still work, you may want to look into other local places that refurbish these goods to donate them to less-fortunate families.

Improving Your Oil Change

While there are many renewable solutions on the market, oil is still one of the most common resources used in cars, trucks, motorcycles and other forms of transportation. Fortunately, while an oil change may be necessary maintenance on your car now and then, you can be more environmentally friendly by going to an auto repair shop that recycles and re-refines your oil. Before you make a trip to your old auto body, take a look at motor oil recycling locations on Earth911 for some options in your area.

It’s easy enough to compost food and throw your cardboard boxes in the bin, but there are many common waste items that can actually be re-used in your local community. If you’re looking for ways to go greener as you plan a move to a new home, contact your trusted mortgage professional for more information.

What’s Ahead For Mortgage Rates This Week – July 17, 2017

Inflation Rate Stays Flat in June

Inflation was flat in June, but achieved a 0.00 percent reading as compared to May’s – 0.10 percent reading. Analysts expected a June reading of +0.10 percent reading month-to-month. The Federal Open Market Committee of the Federal Reserve has established a benchmark reading of 2.00 percent inflation year-over-year as an indication of economic recovery. In recent months, the Fed has increased its target federal funds rate at each meeting of the FOMC. A slowdown in inflation and other economic indicators may cause the Fed to halt rate increases until conditions improve.

Fed Chair Testifies before House Financial Services Panel

During testimony last week, Fed Chair Janet Yellen addressed questions about Federal Reserve board members’ interaction with Wall Street. Ms. Yellen explained that the Fed values clear communications with Wall Street as a productive relationship. Chair Yellen also noted that the Fed may taper off on interest rate increases soon; she said that further rate increases may not be warranted at present.

Stating that “monetary policy is not a preset course,” Chair Yellen said that the Fed is aware of problems associated with forecasting higher than actual inflation gains, but also said that the Fed believes that inflation will achieve the 2.00 percent annual goal established by the Fed.

Ms. Yellen hinted that her tenure as Fed Chair may be reaching its conclusion; she did not answer media inquiries about whether she would stay on if asked. She said she was concentrating on current issues instead of focusing on potential developments.

Mortgage Rates Rise, New Jobless Claims Lower

Mortgage rates rose again last week; the average rate for a 30-year fixed rate mortgage exceeded four percent for the first time since May with an average rate of 4.03 percent. Fifteen-year fixed rate mortgages had an average rate of 3.29 percent. Average mortgage rates for 15 and 30-year fixed rate mortgages rose seven basis points over last week’s average rates. The average rate for a 5/1 adjustable rate also rose seven basis points to 3.28 percent. Discount points averaged 0.50 percent for all three mortgage types.

247,000 new jobless claims were filed last week as compared to expectations of 245,000 new claims filed and last week’s reading of 250,000 new claims. First-time jobless claims stayed below 300,000for 123 consecutive weeks. This run is the longest since the 1970s.  Analysts said that low jobless claims indicate a very low rate of layoffs.

Consumer sentiment dropped by two index points from 95.10 to 93.10 percent. Rising mortgage rates and concerns about current events likely contributed to wavering consumer sentiment.

Whats Ahead

This week’s scheduled economic readings include NAHB Housing Market Indices, Commerce Department reports on housing starts and building permits issued and weekly releases on mortgage rates and new jobless claims.