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Share Wealth Holiday Season 2019 Paramount Bank High Interest Checking Account Trash Collector Teacher Public Schools New York Times Washington Post

This Holiday Season: Share Wealth

By Uncategorized

Get into this Holiday Season by sharing your wealth.

Tipping culture in the United States is unfortunately a necessary element to survival for traditional services such as dining out.

Let’s take a look at a few other places you could help spread a little financial love this holiday season.

This Holiday Season: Share Wealth at School

Assuming you’re not currently financially committed to your child’s classroom, now would be a great time to start.

Many public school teachers in the United States are underpaid. With regular cuts to school budgets by state and local officials, teachers are forced to float their own cash for critical classroom items without any promise of reimbursement.

Pitch in with some of your personal resources this holiday season. Help your child’s teacher with new arts and crafts supplies, sanitary products or other essential classroom needs.

While not necessarily tipping, this definitely counts as boosting your teacher’s sanity and allowing them to free up funds for their own personal financial goals in the future.

This Holiday Season: Share Wealth with City Workers

Picking up your trash can be a thankless job.

City workers handle our discarded scraps of food and household items each week. They often run full shifts with manual labor, rolling house to house and helping ensure our waste is properly disposed.

You should thank your trash crew this holiday season with a small monetary tip, similar to how you’d tip wait staff for a nice meal.

Anywhere in the range of $15-$30 per member of the crew should be enough for them to feel appreciated without having to break your wallet. Win-win!

Share Wealth with Lonely Animals

Humanity would be nothing without the love of our pets.

Many no-kill shelters across the country are entirely non-profit. They rely on grant funding as well as adoption revenue in order to maintain clean housing for our lost and lonely critters.

You can help ensure the lights stay on with a financial contribution. Alternatively, you can volunteer your time to help keep the little animals happy until they find a forever home.

Take it a step further, and you can even donate large bags of food or litter. Wearing a Santa outfit when you deliver the items is totally optional.

Next Holiday Season: Start Earning with Paramount Bank

It is never too early to prepare for next holiday season.

Paramount Bank offers a 1.75% Annual Percentage Yield in our High-Interest Checking Accounts. No matter how much money you begin with, we’ll pay you interest simply for opening an account and funding it within 30 days — it’s that easy!

Click here to check it out for yourself and apply today.

Bake & Build a Gingerbread House

By Favorite Recipes

December 12 is National Gingerbread House Day! Get out your rollers and hot cocoa. Let’s get to work.

Luckily, you don’t need a Paramount Bank mortgage for this house…

INGREDIENTS

GINGERBREAD COOKIES RECIPE:

  • 3 1/4 cups all-purpose flour
  • 1 tablespoon ground cinnamon
  • 1 tablespoon ground ginger
  • 3/4 teaspoon baking soda
  • 3/4 teaspoon ground cloves
  • 1/2 teaspoon ground nutmeg
  • 1/2 teaspoon salt
  • 3/4 cup unsalted butter, softened to room temperature
  • 1/2 cup packed brown sugar
  • 1 egg
  • 1/2 cup molasses
  • 1 1/2 teaspoons vanilla extract
  • (optional) orange zest
  • optional toppings: simple icing (see below), red hots, sprinkles, etc.

SIMPLE ICING RECIPE:

  • 2 cups powdered sugar
  • 23 tablespoons milk
  • 1/4 teaspoon vanilla extract

INSTRUCTIONS

TO MAKE THE GINGERBREAD COOKIES:

  1. Take a large bowl, whisk flour, cinnamon, ginger, baking soda, cloves, salt and nutmeg together.
  2. In a separate mixing bowl, mix the butter and sugar together until light and fluffy.  Add egg, molasses, and vanilla, and mix. Keep mixing and slowly add the flour mixture until just fully combined.
  3. Divide the dough into two equal parts, and form each of them into a ball.  Carefully, use your hands to flatten each ball into a 1-inch thick disk, wrap tightly in plastic wrap, and throw in the refrigerator for at least 2 hours.
  4. After that 2 hour period, set the oven to 350°F and line a baking sheet with parchment paper.
  5. Take the dough out of the fridge and put it on a lightly flowered surface.  Flour your rolling pin and roll the dough evenly until it is about 1/8-inch thick.  Next, cut the dough to your desired shapes. (Dimensions/instructions of house below. Use cookie cutters if you don’t want to make a house!)
  6. Bake for 8-10 minutes, making sure the cookies are crisp around the edges and top. Let cool for at least 5 minutes on a wire cooling rack for best results.
  7. Decorate to your heart’s content AFTER you build the house.

TO MAKE THE SIMPLE ICING:

  1. Whisk all ingredients together in a bowl until smooth.  Add powdered sugar to make it thicker and milk to make it thinner.
  2. Use an icing bag or create your own with the corner cut off a ziplock bag to decorate your cookies (again, after you build the house!!)

HOUSE DIMENSIONS:

Directions:

  1. Take a ruler, and place it down on the flattened, uncooked gingerbread. Use that ruler as a straight edge and cut the dough into your pieces.
  2. Take two sides at a time and use the icing as the glue. You will have to hold it together for a couple minutes for it to harden enough. Do this again, but orient the sides the opposite way, then combine the sides. You should have 4 walls with the same size walls opposing each other (pictured.)
  3. Pipe the top of the house with icing so you can put the roof pieces on.
  4. Put icing on the point of the roof to keep the roof pieces together, and hold.
  5. Decorate to your heart’s content!

 

Source: Recipe slightly adapted from Elise Bauer of SimplyRecipes.com.

2019 Week 49 U.S. Economic Calendar

By Economic Calendar

The week of December 2nd, 2019 scheduled economic reports. Key reports are auto sales and employment.

Monday, December 2nd

  • ISM Manufacturing Index
  • Cyber Monday

Tuesday, December 3rd

  • Light vehicle sales
  • Corelogic House Price Index

Wednesday, December 4th

  • Mortgage Bankers Association (MBA) mortgage purchase applications index
  • ADP Employment Report

Thursday, December 5th

  • Weekly unemployment
  • Trade Balance report

Friday, December 6th

  • Employment Report
  • Consumer sentiment index
  • Consumer Credit

Top 10 Funny Gifts for the Holiday Season

By Good Reads

Everybody does a top 10 gift ideas, but we thought it would be way more fun to give you some ideas in the realm of joke gifts! This is great for that someone who buys what they need when they need it or when you have no idea what to get them. You could get them something that makes them laugh, because sometimes the reaction is worth it.

 

1. Book of “Dad Jokes”

Do you know someone that’s always cracking the same obvious dad jokes? Drop them the hint with this book. They’ll have you rolling…your eyes again in no time!

 

2. World’s Smallest Violin

Do you have a friend that always asks for advice in tricky situations? Give them this tongue and cheek gift. It’s all in good fun!

World’s Smallest Violin

 

3. Beer Helmet

Sometimes you just need to keep the hands free for more tedious tasks…

Thinking Cap

 

4. Honest Coffee Mug

This one’s the perfect gift for a coworker!

“Survived Another Meeting…” Mug

 

5. Socks with Someone’s Face on Them

Nothing says happy holidays like a good pair of socks.

Custom Face Socks

 

6. Wine Glass the Size of a Bottle

For that person in your life that just needs to wine a little.

BigMouth Bottle

 

7. Sarcastic T-Shirt

A sarcastic T-shirt is always a good pick for someone that absolutely loves the holiday season festivities! /s

Sarcastic Shirt for Her

 

8. Burrito Blanket

This is a great gift to keep your spicy señorita or señor warm.

Burrito Blanket

 

9. Festivus Sweater

Get this for that Seinfeld fan in your life right after you air your grievances. If you don’t want to pay for a gift, you could always “donate” to the Human Fund in their honor instead…

Feat of Strength

 

10. Funny Card

If you really don’t know what to get someone or you don’t want to spend a ton of money on someone, a card is always a safe bet! Might as well get them to crack up a little.

Joke Cards

 

New Conforming Limits in 2020 FHFA Paramount Bank Home Mortgage Solutions

New Conforming Limits in 2020

By Econ News, Mortgage Tips, News and Updates

New conforming limits are coming in 2020, and it’s time to celebrate.

The Federal Housing Finance Agency (FHFA) announced plans to increase the single-family conforming loan limit to $510,400 starting next year.

Market authorities Freddie Mac and Fannie Mae can now help Paramount Bank offer a wider range of solutions to our clients.

Let’s break down how this can help your next home purchase.

Conforming Limits Open New Opportunities

Buying a home takes planning. You work hard to build credit. Many borrowers save money for a 10-20% down payment. You are on top of new home listings in your market.

There is a good chance you spoken to various lenders. With the FHFA’s new conforming limits in 2020, you can cast a wider net in your home search.

When you get pre-approved with Paramount Bank, you’ll receive loan recommendations. Before the FHFA announcement, Paramount Bank would work with a lower conforming loan limit.

With the new limits in 2020, the work you’ve put in building your credit and saving for a down payment may help you get pre-qualified for a larger mortgage opportunity.

Paramount Bank Celebrates the FHFA Decision

Paramount celebrates the FHFA’s decision to raise conforming limits.

Our team wants all of our clients to understand each loan option. Monthly payment, potential return on investment, and other key financial data points are extremely important. Your financial wellness is second-to-none.

With strong economic data, more Americans are finally able to start making smart economic decisions. Instead of watching homes leave the market, more people can jump in and get a piece of the American Dream.

New conforming limits may lead to higher home loan values. Yet competitive interest rates coupled with product diversity can mean new borrowers get their dream home at an affordable rate.

Contact Paramount Bank when you’re ready to begin.

2019 Week 48 U.S. Economic Calendar

By Economic Calendar

The week of November 25th, 2019 scheduled economic reports. Key reports are GDP, Beige Book, and home sales.

Monday, November 25th

  • Survey of Manufacturing Activity

Tuesday, November 26th

  • Case-Shiller House Price Index
  • FHFA House Price Index
  • New Home Sales
  • Survey of Manufacturing Activity

Wednesday, November 27th

  • Mortgage Bankers Association (MBA) mortgage purchase applications index
  • Q3 GDP
  • Durable Goods Orders
  • Personal Income and Outlays
  • Federal Reserve Beige Book

Thursday, November 28th

  • Thanksgiving

Friday, November 29th

  • Black Friday

2019 Week 47 U.S. Economic Calendar

By Economic Calendar

The week of November 18th, 2019 scheduled economic reports. Key reports are FOMC minutes and housing data.

Tuesday, November 19th

  • Housing Starts
  • e-commerce retail sales

Wednesday, November 20th

  • Mortgage Bankers Association (MBA) mortgage purchase applications index
  • FOMC Minutes

Thursday, November 21st

  • Weekly unemployment claims
  • Existing Home Sales

Friday, November 22nd

  • Consumer sentiment index
  • Manufacturing survey

Aunt Sally’s Legendary Corn Pudding

By Favorite Recipes

Everybody loves corn pudding to stay warm over the holidays! Can be made ahead of time, but don’t add corn muffin mix until ready to bake. Triple or quadruple for leftovers or large family celebrations!!

Prep time: 15 m | Cook time: 45 m  | Ready in: 60 m

Ingredients:

  • 1 can of creamed corn
  • 1 can of whole kernel corn, undrained
  • 1 cup of sour cream
  • 2 eggs, slightly beaten
  • 1 box of corn muffin mix, 8.5 oz
  • 1/2 cup melted butter
  • 2 cups shredded cheddar cheese, separated

Directions:

  1. Preheat oven at 350.
  2. Grease dish.
  3. Mix eggs, sour cream, butter, 1 cup of shredded cheese, and corn.
  4. Fold in muffin mix.
  5.  Pour in dish and top with 1 cup of shredded cheese.
  6. Bake at 350 for about 45 minutes.
Paramount Bank Mobile Banking App iPhone Android iOS Google Play High Interest Checking Account

Paramount Bank High-Interest Checking

By Financial Tips, News and Updates

Paramount Bank High-Interest Checking gives our customers access to a wide array of modern tech and people-focused customer care.

Now is a great time to join the Paramount Bank banking family.

With Paramount Bank, there are several reasons to bring your money into our trusted FDIC-insured vaults. Let’s break down some of the benefits below.

Earn More with Paramount Bank High-Interest Checking

You work hard for your money.

Does your current bank pay you interest on top of what you earn at work? Do they pay you 1.75% Annual Percentage Yield (APY)?

Paramount Bank pays you for having a checking account with us, and we pay handsomely on top of your account balance.

As of November 12, 2019, Paramount Bank is pleased to offer 1.75% Annual Percentage Yield (APY) across all balance tiers*. That’s near the top of not only small-banks, but larger banking institutions across the United States.

Opening an account with $50? $500? $5,000?

Congratulations, you’ve just set in motion your very own yield earnings with Paramount Bank.

Mobile Banking Infuses Tech with Paramount Bank Customer Care

As part of opening a High-Interest Checking account with Paramount Bank, you gain access to our App Store® or Google Play® mobile app.

Both the Google Play® and App Store® app allow you to review your account balance at a glance. You can also take the stress out of balancing your budget with Paramount Bank Budgets.

Budgets has been linked with over 18,000 financial apps to help you track expenses and income all in one convenient location.

Pay bills, send money to friends (or collect on up-front costs), and so much more.

Paramount Bank Customer Care Without the Branch

A big part of what makes Paramount Bank so special is our customer care team.

Here’s the big secret; you don’t need to visit a branch to experience their care first-hand.

In addition to High-Interest Checking account access, you can access our customer care at your fingertips.

Paramount Bank has a small-bank feel with big-bank benefits. Our customer care is focused on your needs.

Whether you access our customer care support through the Mobile Banking app or by speaking to one of our representatives, Paramount Bank will always work to help you to the best of our ability.

Get Your High-Interest Checking Experience Started Today

Click here to start your High-Interest Checking application with Paramount Bank.

The application takes only a few minutes to complete via our secure network.

Once Paramount has approved your application, you’ll be able to start depositing your hard-earned money and start getting paid that sweet, sweet interest.

What are you waiting for? Experience the Paramount Bank difference today!

Disclaimers

*The Annual Percentage Yield (APY) of the High-Interest Checking Account is 1.75% as of November 12, 2019 for balances of $500,000 or more, 1.75% for balances of $100,000–$499,999, 1.75% for balances of $50,000–$99,999, 1.75% for balances of $5,000–$49,999, and 1.75% for balances of less than $5,000. Rates are subject to change daily and fees may reduce earnings. No minimum initial deposit is required to open an account, but the account must be funded within 30 days to remain open. APY may change at any time before or after account is opened. Call 833.731.0229 for the most up to date rates. Member FDIC.

2019 Week 46 U.S. Economic Calendar

By Economic Calendar

The week of November 11th, 2019 scheduled economic reports. Key reports are retail sales and inflation data.

Monday, November 11th

  • Veterans Day

Tuesday, November 12th

  • Small Business

Wednesday, November 13th

  • Mortgage Bankers Association (MBA) mortgage purchase applications index
  • Consumer Price Index
  • Household Debt and Credit

Thursday, November 14th

  • Weekly unemployment claims
  • Producer Price Index

Friday, November 15th

  • Retail sales
  • Manufacturing
  • Industrial Production and Capacity

From the President: Translating Military Skills Into Civilian Jobs

By From the President, Paramount in the Community

Happy Veterans Day! It would be no surprise to my friends for me to say that the most developmental period of my life was spent in the United States Army. The opportunities I have been afforded professionally and those in my future are all in debt to the skills I gained in the armed forces. 

This is my first Veterans Day as the President of Mortgage at Paramount Bank, and as we work to bring the future to home ownership, I’m extremely proud of our commitment to hiring veterans.

The skills learned in the military, however, aren’t the most translatable into a job interview. I feel lucky to have been hired when I returned home from the military, and to have been taught how to discuss my military skills in an applicable way. Not all veterans get that same training. 

That makes job interviews a challenge for many veterans, and a challenge for those interviewing veterans who don’t understand the military training. The team mentality that all veterans leave the military with, ingrained in our beings, is not what interviewees are looking for. They’re looking for people who can own individual accomplishments and speak to their personal strengths. We simply don’t do that in the military.

Paramount Bank’s hiring process is different, and veteran candidates know that they are being interviewed by someone who has taken the time and effort to acknowledge and understand their military experience. It’s time for other companies to get on board.

A few have. Companies like Southwest and Home Depot have easily accessible Military Skills Translators on their career websites. These allow veterans to input their military job titles and job codes, and then matches them with opportunities in the company that fit their skills. 

These are steps in the right direction, but there are many more that need to be taken to level the playing field, on both sides. Veterans deserve education on how to translate their skills, and hiring managers need to make an effort to understand what’s going unsaid when they interview a veteran.

There’s no better day to kickstart this conversation than on Veterans Day. We honor our veterans today, and a major way to honor them is by taking their individual skills seriously and offering them jobs they deserve. Statistics show that companies excel when they hire veterans. What are they waiting for?

As we work to make hiring veterans more commonplace and the process easier and more understandable for everyone involved, there are many articles out there that we can encourage both parties to seek out.

Search for local programs near you. In Houston, the Combined Arms consolidates military employment services with a wide range of other services as well. And talent placement companies like Lucas Group often have specific recruiting sections for military and recruiting resources for those looking to hire veterans.

Nationally, the USO’s Pathfinder program offers a variety of transitional resources for service members and their families, which can ease the adjustment. Additionally, Military.com has a great skills translator that can help veterans find jobs across industries, and plenty of pieces like the one below to help them acclimate to civilian job. 

Seven Things You Must Say to Get the Job

We should thank and honor our veterans for their military service each day, and one way is by showing that we give them the care and consideration they deserve when they return to our home turf. Happy Veterans Day!

Veterans Day Paramount Bank 2019 Saluting Military Families Honoring Service Members

Paramount Bank Honors Veterans Day 2019

By Good Reads, News and Updates, Paramount in the Community

On November 11, Paramount Bank will honor Veterans Day 2019. Last year marked the 100th Anniversary of Armistice Day – bringing about the end to World War I. The peace accord also served as a launch for a global Remembrance Day to honor fallen heroes in what would be called Veterans Day in North America.

A lot has changed in 101 years. We celebrate Veterans Day each year to mark the end of “The War to End All Wars” as it was known in the early 20th Century.

While the War to End All Wars sadly never came true, we nevertheless continue to honor both past — and present — military service members.

Below are a few things Paramount Bank does to honor Veterans Day as well as our military families each and every day of the year.

  • Paramount Bank is Veteran-owned and operated.
  • Paramount Bank waives all lender fees on VA-backed home loans.
  • Todd Jones, former U.S. Army Captain and President – Mortgage, continues to serve in communities around the country and the world. Read how he’s raising money to address the clean water crisis in developing nations.
  • Paramount Bank is working on initiatives to work alongside Veteran Service Organizations to provide for our military families.
  • We hire, train, and develop veterans for the private sector.
  • Paramount Bank helps realtors become VAhome.org certified.
  • A proud VA approved lender – helping military families realize the American dream.

The very notion of caring for veterans is engrained in the fabric of our entire operation. Paramount Bank is a young company looking to grow our involvement within our nation’s military communities.

For now, we take a moment to remember the sacrifice of all military veterans and their families this Veterans Day.

waterboys clean water mission Todd Jones President Mortgage Paramount Bank

From the President: Addressing the Clean Water Crisis

By From the President, Good Reads, Paramount in the Community

Photo courtesy of Waterboys Instagram

Todd Jones, President – Mortgage at Paramount Bank, is raising money to address the clean water crisis in developing nations.

Jones is raising money in conjunction with waterboys.org to bring clean water in areas around the world. With each dollar donated, Todd will climb one dollar per foot up Mount Kilimanjaro. So far, Jones has raised more than $19,000 and counting.

Read Todd’s blog post, which can be found on his LinkedIn, and is pasted in it’s entirety below:

 

The Mission to Tackle the Clean Water Crisis

Service has always been an important part of my life. After my time in the United States military, I ensured that my devotion to service continued. That’s involved organizations like the USO, The Mission Continues and The Headstrong Project. Now I’m taking my acts of service to new heights — literally.

This February, I’ll be climbing Mount Kilimanjaro through the organization Waterboys in the name of a great cause — access to clean water.

The clean water crisis is something we don’t often consider at home in the United States. It wasn’t until Flint, Michigan that it even became a popular talking point. But around the world, the lack of access to clean water is astounding and disheartening. I’ve been in situations throughout my life to witness some of this crisis, and it’s encouraged me to do what I can to help.

During my time in Honduras and Bosnia, I saw first hand what limited access to clean water does to a community. In both cases, it degraded certain small communities down to as primitive an existence as I have ever seen. And, not surprisingly, the number of health issues there skyrocketed, further isolating communities that so badly needed outside help.

In the US, we talk a lot about what is a human right and what is not. Access to clean water is so fundamental to our existence and to the health of the population, that I strongly believe access to clean drinking water is in fact a human right.

That is why I was excited to find out about Waterboys and their mission. In May of this year, I had gathered with friends to celebrate the life of our friend Maj Jason George, who had passed away in Iraq a decade before. My friend Demi Clark was sharing her experience climbing Kilimanjaro with me, when I mentioned it was one of my bucket list items. She mentioned Chris Long and Nate Boyer’s joint venture in Waterboys, and suggested it would be the perfect opportunity for me. I reached out to Nate, who set up the appropriate interviews. Some weeks later, I found out I had been selected to join the 2020 team.

At Waterboys, athletes and veterans come together to raise money to build wells in water scarce areas around the world. The organization started with NFL players and a goal of building 32 wells for the 32 teams. Since accomplishing that and growing the organization for more of an impact, Waterboys has set a goal of providing clean drinking water to 1 million people. They’re more than a third of the way there. No doubt that goal will expand yet again.

Waterboys stresses something important about clean water that is easy to overlook — access to drinkable water isn’t just about hydration. A lack of water impacts so much more. The organization highlights four main areas that deserve our immediate attention: Education, Economy, Agriculture and Health.

When finding water is a daily mission, other things are overlooked. Education, particularly for female children, is one of the first to go. Many women and children are in charge of finding water each day, a task that requires miles and miles of walking with heavy water jugs, and limits educational opportunities as a result.

The search for water also stifles economic opportunities for families already in vulnerable situations. What could families and individuals accomplish with the time that they spend trying to find safe water? With easy access to water, they could work in money-making spaces such as agriculture, which is a massive industry here in the United States but one that is much less possible in water impoverished regions.

Last but certainly not least, water severely impacts health. Here’s a shocking statistic I learned from Waterboys: 1 in every 2 hospitalizations is related to a water-born disease, and 20% of deaths in children under 5 is because of a water-born disease. A $45,000 well can make an enormous impact in communities suffering from these diseases.

I encourage you to take time to look up the clean water crisis to realize how truly impactful this is for so much of the world. Over 785 million people don’t have access to clean water. That’s 1 in every 9 people. That should make you stop and think, like it did for me.

Read more at waterboys.org and consider a donation to my fundraising page https://waterboys.org/group/todd-jones/. I’m on a personal mission to raise $19,341 — a dollar per foot I’ll climb of Mount Kilimanjaro.

Home Values Rise Listings Fall United States Neighborhood Arial Photo Single Family Home Ownership Paramount Bank Purchase Refinance

Home Values Rise, Listings Fall

By Mortgage Tips, News and Updates

Home values rise while listings fall in the latest U.S. home survey indexes.

CoreLogic released a September housing survey on Tuesday, November 5 and existing owners are seeing green.

Home values continue to rise nationwide by 3.5% year-over-year and 0.7% since August, according to CoreLogic’s latest HPI® Report.

Available inventory for new buyers slid by 98,000 listings nationwide, according to Realtor.com.

Making sense of the rise in home value data

Home values fluctuate in the grand scheme of our economy. But when we take a look at the last 10 years of available housing information, we see nothing but increases in home values.

Borrowers have been heavily incentivized to buy new homes. Thanks to lowered Federal Funds Rate indexes (currently at 1.5 to 1.75 percent as of November 6, 2019), demand has gone up for more homes across the United States.

This means year-over-year increases in home values are no surprise to us at Paramount Bank.

Listing woes continue to plague an eager market

If you’ve stepped foot in the housing market over the last five-or-so years, you’ve witnessed the evolution of buyers.

Sellers are flush with offers from eager buyers with larger down payments.

So homes should be entering the market at a healthy rate and leaving just as quickly, right?

Unfortunately, tariffs have slowed new home construction. Favorable interest rates mean existing home owners are not as eager to sell as they might with healthy inventory volume.

Paramount Bank has helped many home owners refinance. Existing borrowers are simply looking to lock in a more favorable interest rate to lower their existing mortgage payment.

When you consider mixed data on jobs reports, it makes sense to see how inventory can slip 98,000 units in September.

This continues an existing trend for buyers looking to enter the market for the first time or who are looking to upgrade.

Looking ahead with Paramount Bank

Something has to give in this environment. In fact, we’re already seeing small increases in new home construction.

Looking to capitalize on this eager market, we’re seeing some areas coming in high on home values only to lower their listing into relative affordability – still giving sellers a decided advantage.

If you’re looking to purchase or refinance, visit our Purchase and Refinance pages to learn how Paramount Bank can help you take advantage today.

2019 Week 45 U.S. Economic Calendar

By Economic Calendar

The week of November 4th, 2019 scheduled economic reports. Key reports are vehicle sales and trade.

Monday, November 4th

  • Vehicle sales

Tuesday, November 29th

  • Trade Report

Wednesday, November 5th

  • Mortgage Bankers Association (MBA) mortgage purchase applications index

Thursday, November 6th

  • Weekly unemployment claims

Friday, November 7th

  • Consumer sentiment index

2019 Week 44 U.S. Economic Calendar

By Economic Calendar

The week of October 28th, 2019 scheduled economic reports. Key reports are jobs, manufacturing, GDP, and FOMC.

Monday, October 28th

  • Survey of Manufacturing Activity

Tuesday, October 29th

  • Case-Shiller House Price Index
  • Home sales

Wednesday, October 30th

  • Mortgage Bankers Association (MBA) mortgage purchase applications index
  • ADP Employment Report
  • Q3 GDP
  • FOMC Announcement

Thursday, October 31st

  • Weekly unemployment claims
  • Durable goods orders
  • New home sales

Friday, November 1st

  • Jobs report
  • ISM Manufacturing Index
  • Construction Spending

National Prescription Drug Take Back Day

By Good Reads, Paramount in the Community

Keeping Prescription Drugs Off Our Streets to Prevent Possible Abuse

October 26th is National Prescription Drug Take Back Day, which aims to provide a responsible recourse to dispose of prescription drugs, while keeping the public engaged regarding their potential abuse. The statistics surrounding the epidemic of addiction are well defined, and among the states that report, Missouri is significantly impacted.

Today, Paramount Bank would like to take a minute of your time to highlight some statistics and resources for the 18th National Prescription Drug Take Back Day.

National Prescription Drug Take Back Day Collection Results:

  • 231 collection sites in Missouri and 6,258 nationally
  • 17th National Take Back Day total weight collected nationally: 937,443 lbs. (468.72 Tons)
  • 17th National Take Back Day total weight collected Missouri: 38,462 lbs.
  • National Take Back 1-17 Totals nationally total weight collected: 11,816,393 lbs. (5,908.2 Tons)
  • National Take Back 1-17 Totals Missouri total weight collected: 493,168 lbs.

Paramount Bank urges you to visit two critical website resources you can use to participate or learn more to find a drug disposal location near you:

  • DEA and Department of Justice: https://www.deadiversion.usdoj.gov/drug_disposal/takeback/
  • Google’s location finder: https://recovertogether.withgoogle.com/prevention/

Emergency Fund: Your Financial Life Raft

By Financial Tips

The emergency fund is a crucial asset in financial stability. We look at it as a life raft to keep you afloat.

 

Why do you need an emergency fund?

Emergency funds are like insurance. You may never use it, but if you need it, you really need it. If you require money to pay for something that you didn’t plan for, you have a backup plan to get you back to where you want to be.

When to start?

If you haven’t already, start now! Not having an emergency fund is like driving a car without insurance; it’s just asking for trouble.

How much to keep in your fund?

Experts suggest keeping 6 months expenses in your emergency account. Simply determine how much money you spend on rent/mortgage payments, food, gas, car payments, and any other necessities/non-negotiable monthly expenses, and multiply it by 6. It would be even better to have 6 months pay saved up if you can afford it!

Here are some important factors to consider when deciding on the size of your fund:

  • Number of dependents
  • Level of job and income stability
  • Liabilities (homes, vehicles, etc.)

Where should you keep your fund?

We suggest keeping your emergency fund in something liquid and easily accessible, like an FDIC insured checking or savings account. Keeping it in higher-risk investments, like company stocks, is rather foolish. You wouldn’t store your life raft deflated with no air compressor or leave it at the dock, would you?

When should you use your fund?

Here’s where you need to be disciplined. If you use your emergency fund for something you think you need, but really could do without, you’re doing it wrong. Reserve the emergency fund for unexpected financial expenditures that you absolutely have to pay for:

  • Expenses while in between jobs
  • Home repairs
  • Car repairs
  • Medical bills
  • Funeral costs
  • Family emergencies

 

Before we let you go and you begin saving, we’d like to remind you that Paramount Bank’s High-Yield Checking Account will allow you to save for emergencies and let that money grow faster.

Apply for your FDIC Insured checking account here.

Branch Manager Summit 2019

By News and Updates

This week, we have gathered our consumer direct mortgage branch managers for meetings, training, and planning. We have added many branches this year, including:

  • Boca Raton, FL – Lead by Craig Williamson
  • Chicago – River North, IL – Lead by Pablo Cortes
  • Cleveland, OH – Lead by Justin Hominsky
  • Irvine, CA – Lead by Julio Duenas
  • Houston, TX – Lead by Jamey Milheiser
  • Overland Park, KS – Lead by Dustin Lentz
  • Scottsdale, AZ – Lead by Brian Harvey & Josh Shirota
  • TPO – Lead by Thomas Russo
  • And many more coming soon!

They aim to provide leadership, support, and guidance to their teams so that they can make your loan experience the best in the business!

2019 Week 43 U.S. Economic Calendar

By Economic Calendar

The week of October 21st, 2019 scheduled economic reports. Key reports are home sales.

Tuesday, October 22nd

  • Existing home sales

Wednesday, October 23rd

  • Mortgage Bankers Association (MBA) mortgage purchase applications index

Thursday, October 24th

  • Weekly unemployment claims
  • Durable goods orders
  • New home sales

Friday, October 25th

  • Consumer sentiment index

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