The Money Section | How low can you go?

͏Lower tax returns, lower mortgage rates, and lower inflation... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [The Charlotte Observer]( January 18, 2023 • Issue #16 [The Money Section] This week, we’re looking at what to expect from this tax season, how low mortgage rates could go this year, and what investing experts are predicting for the stock market. Disappointing returns. [Tax]( Money; Getty Images; Shutterstock Half of Gen Z and millennial taxpayers are expecting larger tax refunds this year, according to a survey from personal finance management app Credit Karma. The IRS, however, has warned that refunds may be smaller in 2023 due to the expiration or reduction of pandemic-era tax benefit programs and the expanded child tax credit. [Read more.]( 🐥 Early tax birds. Most taxpayers will receive their refunds within 21 days of filing, but there are options for getting a refund sooner, such as a tax-refund advance, which is a short-term, 0% APR loan backed by your expected refund. [Here's how to get your 2023 tax refund early.]( 🗣️ Tax the rich. Almost two-thirds (63%) of the new wealth amassed since the start of the pandemic has gone to the richest 1%. For this reason, the British-founded confederation of 21 independent charitable organizations, Oxfam, has called for immediate action to tackle the widening of global inequality. [Here’s what they’re recommending.]( How low can you go? [Rates]( Getty Images Mortgage rates more than doubled in 2022, but hopeful homebuyers may soon see some relief from sky-high borrowing costs. Nadia Evangelou, senior economist and director of forecasting at the National Association of Realtors (NAR), is forecasting that mortgage rates will drop below 6% in the spring and summer months of 2023. [Read more.]( 🏡 Good news for homebuyers. As buyer demand wanes and home listings linger on the market, homesellers are offering more concessions than before. This is good news for buyers, as they are now being protected by contingencies, like inspection and appraisal, [that were not present during the peak craziness of the COVID market.]( 🐎 Not for the faint of heart. With the current sky-high mortgage rates, low inventories, and elevated prices, it’s a less than ideal time to buy a new home. However, if home ownership is on your 2023 vision board, [here are a few things to keep in mind.]( Eyes on the market. [Themse]( Rangely García for Money After a wild ride in 2022, when the S&P 500 ended the year down 19.4% (the worst performance since 2008), there's a lot for investors to watch in 2023. From inflation to China’s economic reopening, [here are the five factors that experts will be closely monitoring this year.]( 🛑 Let’s not celebrate…yet. With US inflation down to 6.5% per year, it’s reasonable to assume that the end to the Federal Reserve’s rate hikes is within sight. But you should hold off on opening the champagne, as it is still too early to declare victory. [Here’s why.]( 😷 China, reopened. It’s been two years since the Covid-19 vaccination drive began, yet both the U.S. and the world economy continue to be dominated by issues created by the pandemic. The uncertainty is about to get worse, as China starts the joy, pain and eventual catharsis of reopening. [Here’s what this means for markets.]( Smart Money Move Seniors — get the support you need to maintain your independence [Long Term Care] [Long Term Care]There is nearly a 70% chance that if you’re over the age of 65, you will require long-term care — services that may not be covered by regular medical insurance. But how can you balance the need for care with the desire to remain independent? The answer is long-term care insurance. While this kind of policy aims to help you with the costs of long-term care, it may include care for diseases such as Parkinson’s, Alzheimer’s, and dementia. The main difference between long-term care insurance and regular medical insurance is that long-term care coverage is designed to help you with routine care and assistance with normal daily activities such as dressing and bathing when you may need it the most. Stay independent in your golden years with the help of long-term care insurance. [View the Best Long-Term Care Insurance Companies of 2023]( Stories we're reading this week - [Elon Musk’s Appetite for Destruction]( - [Save for College or Retirement? New 529 Rule Makes It Easier to Help Your Kid Do Both]( - [Used Cars Are Finally Getting Cheaper — and Even Lower Prices Are Coming Soon]( - [Obamacare Enrollment Reaches Record High With Cheaper Plans and 'Family Glitch' Fix]( - [Opinion: The Great Gas Stove Debate Has Been Reignited]( - [Medical Bills Still Plague Americans, More than a Decade After the ACA]( The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive marketing emails from The Charlotte Observer. If you no longer wish to receive emails of this type, you may [unsubscribe]( or [update your email preferences](. We are unable to monitor replies to this email. Please [contact customer service]( if you have any questions or concerns. [Privacy Policy]( | [Terms of Service]( | [View in Browser]( Copyright © 2023 The Charlotte Observer. All Rights Reserved. 9140 Research Drive, Charlotte, NC 28262