Spotlight

Market Update | Nov 16

Jon Granston | October 14, 2025

DID YOU KNOW?

Top Headlines: Delivered by Leonard Steinberg

November 16, 2023

01 Anyone can make a yearly gift to a person of up to $17,000 tax-free, or $34,000 per couple. Parents and grandparents can financially help children in other ways that don’t trigger gift taxes: tuition payments to schools or universities (tax-free).....and also help with down payments on a child’s home without paying gift taxes.

(NY TIMES)

02 Some good news? The average 30-year fixed mortgage rate fell fast to below 7.4% on Friday, its lowest level in 2 months, relieving some of the pressure on the housing market. Mortgage rates tend to track the 10-year Treasury yield that plummeted over 6.5% from a hair over 4.90% to start the week, to 4.58% by Friday. Some lenders are now offering borrowers the ability to refinance later for free.....

(YAHOO)

03 In the $2 trillion US deficit our spending (besides Social Security, Medicare and Medicaid) and interest payments are almost identical: $169 billion vs. $177 billion!

04 Jeff Bezos just announced a permanent move to Miami - joining his parents who live there already - where he spent much of his youth. He’ll be closer to his Space project. Tax-wise, his move from Seattle mirrors Florida’s in some regards as Washington also does not impose a state income tax. In 2021 Jeff paid a federal tax rate of around 23% on $4 billion-plus in income between 2014 and 2018.....now how can I get that rate?????

05 Dissatisfaction is more likely when money is tighter, a 2022 study in the Journal of Consumer Research found. People feel worse about purchases of both things and experiences and write more negative reviews, researchers found.