When establishing a CGA, you transfer assets now, receiving a charitable deduction for a portion of the transfer, and you or a beneficiary receive a fixed income for the rest of your life or a predetermined period of time.
Upon the passing of the last surviving beneficiary, the Foundation will use any remaining annuity assets to support the ministry you designated when you established the CGA. Both you and ministries can benefit from a CGA.
I invite you to contact us to learn more about charitable gift annuities. You can reach us at913.577.2983 or info@nazarenefoundation.org. To read more about our services, visitwww.NazareneFoundation.org.
Blessings,
Kenneth R. Roney, J.D.
President
Personal Planner
Bill and Clara were talking to their attorney Susan about their family.
Clara: "It may be time to start the inheritance process. Our children are now ages 35, 37 and 38. We might want to give them something during the next few years."
Bill: "Susan, when we spoke by phone, you thought that we might consider a 'Wait A While' trust."
Clara: "How does that work?"
Bill: "Well, the trust is funded with property and pays a fixed amount to charity for a period of years."
Susan: "We might think about a trust that pays for 12 years. You already make gifts to charity so we just would make those same gifts out of the trust. After 12 years, the trust will be distributed to the children. They will then be ages 47, 49 and 50."
Clara: "That's probably a very good time to pass property to them. They may still have children in college and they also will be thinking seriously about investing for their future retirement."
Bill: "Is this the right time to consider a 'Wait A While' trust?"
Susan: "You have come at a good time. Your estate is continuing to grow, both of you have prepared very well for your retirement and this is a good time to think about this trust."
Clara: "Is 12 years a typical length of time for this trust? As I understand the trust, our children will receive our inheritance after that period of time."
Susan: "You may choose the time. Twelve years is a very good option. We can fund the trust with a fairly substantial amount so that there will be a good start to their inheritance at that time. When we fund the trust, there will be a requirement to file a gift tax return and use part of the gift exemption that each of you have. However, you won't actually have to pay any gift tax at that time. In addition, this may save future estate tax. While it's very difficult to know exactly what the estate tax picture will be like in the future, there is a good probability that there will be an estate tax and this trust will produce large tax savings."
Bill: "Is this the primary reason to set up this lead trust? Our desire is to start planning for our children's inheritance."
Susan: "It is a very good reason. Another reason is to help your favorite charities with the payouts for the 12 years."
Clara: "I like the idea of starting the inheritance for children. With our growing estate, there will eventually be a larger distribution. By the time the children receive this first inheritance, they will be more mature. In addition, we'll still be here to offer advice and counsel."
Bill: "We thought that we might start this with about $500,000. We have a portfolio of stocks and bonds that has grown over the years. With this amount and some potential growth in the trust, each of our three children would receive about $200,000 after the trust has made the 12 years of payments to charity."
Susan: "A good idea is to transfer a securities portfolio that is comprised of around 60% stocks and 40% bonds. The bond income will be used first to pay the charities. With the bond income and stock dividends, we can take care of most of the payout. I suggest that the trust pay an annuity amount equal to 5% of the value. If you fund the trust with $500,000, then there would be $25,000 paid to charity each year. If we can earn more than 5% each year, the growth will be transferred to children at the end of 12 years."
Clara: "This sounds like a very good idea. Bill, let's move forward and ask Susan to prepare the documents. I know that this will be great for our children and for our favorite charities."
Charitable Lead Trust Solution
The "Wait a While" trust is called a charitable lead annuity trust. Bill and Clara plan to transfer $500,000 in stocks and bonds to the trust. Because it is an annuity trust, it pays an initial 5% of $500,000 or $25,000 fixed amount to the charity. Over a period of 12 years, the trust will pay $300,000 to charity.
Bill and Clara may select the charities when the trust is created or they may permit children to select charities each year. While most donors select the charities, it's also permissible to allow children to select part or all of the charities to receive the distribution.
The trust's stocks and bonds will continue to be invested. If the total return is 6.5%, it would grow to $630,000 over the 12 year period. Each of the three children would then receive approximately $210,000.
The trust may be funded with appreciated property. When the children receive their initial inheritance, there may be appreciation. However, the children will have two easy solutions to avoid paying any capital gains tax. If they are making gifts to charity, they may retain their cash income and use the appreciated stocks to make their charitable gifts. This will bypass the capital gain. Alternatively, if they do wish to sell, they could sell part for cash and transfer the balance into a two-life charitable remainder unitrust. The charitable savings from the trust would offset the gain on the part sold and again there would be no capital gains tax paid by the children.
Gift and Estate Taxes
Attorney Susan will file a Form 709 Gift Tax Return. She will report a gift of $500,000 with a charitable gift deduction of $245,000. There will be a taxable transfer of $255,000. However, this is significantly less than the $5.43 million gift exemption of both Bill and Clara. Therefore, there will be no payment of gift tax now. Because the amount of the gift is fixed, if there is a substantial estate tax when Bill and Clara pass away, there will be added estate tax savings.
Summary
The "Wait a While" trust is an excellent plan to start an inheritance. It allows Bill and Clara to continue to benefit favorite charities for a period of years and then transfer the principal to children or other family members.
Their attorney Susan will file a gift tax return, but in virtually all cases there will be no gift tax payable because of the gift exemption. In all probability, the "Wait A While" trust will save a major future estate tax. Finally, it allows Bill and Clara to start an inheritance for the children and to give them advice and counsel on the best use of the funds.Savvy Living
What can you tell me about kidney disease? My mother died from kidney failure a few years ago at age 76, and I’m curious what my risks are and what I can do to protect myself.
Anyone who has a family history of kidney disease or who has high blood pressure or diabetes is at risk and needs to have their kidneys tested. Here’s what you should know and some tips to help you take care of your kidneys.
Kidney Disease
More than 26 million Americans currently have chronic kidney disease (when the kidneys can’t properly do their job of cleaning toxins and wastes from the blood), and millions more are at risk of developing it. Yet most people don’t realize it. That’s because kidney disease develops very slowly over many years before any symptoms arise. But left untreated, the disease can eventually require people to spend hours hooked up to a dialysis machine or get a kidney transplant. Even mild kidney problems can double a person’s risk of heart attack and stroke, as well as cause anemia and bone disease.
The reason kidney disease has become so widespread today is because of the rise of obesity, type-2 diabetes and high blood pressure which all strain the kidneys.
Another factor is the increasing number of people who take multiple medications that can overtax the organs. People over age 60 are especially vulnerable both because they tend to take more drugs, and because kidney function normally declines somewhat with age.
To help you rate your risk of kidney disease, the National Kidney Foundation has a quick, online quiz you can take at kidney.org.
Get Tested
Since kidney disease has no early symptoms, the only way to catch it before it advances is to have a simple blood and urine test by your doctor. So, if you have diabetes, high blood pressure or heart disease, a family history of kidney disease, or are age 60 or older you need to get tested. African, Hispanic, Asian and Indian Americans along with Pacific Islanders are also at increased risk.
If you’re diagnosed with kidney disease you need to know that there’s no cure, but there are steps you can take to help contain the damage, including:
Control Your Blood Pressure: If you have high blood pressure, get it under 130/80. If you need medication to do it, ACE inhibitors and ARBs are good choices because of their proven ability to protect the kidneys.
Control Your Diabetes: If you have diabetes, keep your blood sugar as close to normal as possible.
Change Your Diet: This usually means reducing the amount of protein and phosphorus you eat, and cutting back on sodium and possibly potassium. Your doctor can help you determine an appropriate eating plan, or you may want to talk to a dietitian. Also see myfoodcoach.kidney.org where you’ll find lots of kidney friendly recipes and nutrition tips.
Watch Your Meds: Dozens of commonly used drugs can damage the kidneys, especially when taken in high doses over long periods – most notably NSAIDs like ibuprofen (Advil, Motrin and generic) and naproxen (Aleve, Naprosyn and generic). Herbal supplements can also be very dangerous. Talk to your doctor about all the prescription, over-the-counter and herbal products you take to identify potential problems and find alternatives.
Exercise and Lose Weight: If you’re overweight and inactive, start an aerobic fitness routine (walk, swim, cycle, etc.) that gets your heart pumping. This will help lower your blood pressure, control diabetes and help you lose excess weight all of which will help your kidneys.
Quit Smoking: If you smoke, quit. Heart disease becomes a much greater risk to the kidneys if you smoke. Smoking also doubles the rate of progression to end-stage renal failure.
Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.Charitable Gift Annuity
God had been so good to Charles and Gladys Prescott, that when it came time to plan for retirement, they wanted to make sure they gave back a portion of God's blessings to Him. Little did they know that God would once again bless them through a Charitable Gift Annuity that provided a return far above what they could earn on a CD.
A Charitable Gift Annuity allowed them to take money that would otherwise bring very little interest in the bank and invest it in God's kingdom while providing a high level of income at the same time. Charles and Gladys receive a regular income at a guaranteed rate for the rest of their lives. A portion of what they receive is tax deductible, and when they established their Charitable Gift Annuity, they received an income tax deduction.
Beyond the security of receiving regular income for life, the Prescott's most appreciate being able to designate how the remaining funds will be used after they go home to Heaven.
Charles and Gladys were so pleased with their first charitable gift annuity, that they have established several more over the years and they have designated several different Nazarene ministries to receive the remaining funds after their death.
Through Charitable Gift Annuities, the Prescott's have planned well for their financial security and income needs. They have established a legacy of faithful stewardship that will continue to bless others, long after their death. They are wonderful examples of what God can do when His faithful servants team up with the Church of the Nazarene Foundation.Washington News
IRS Tips to Avoid Identity Theft
As the tax-filing season opens, the IRS has offered eight “tax tips” for your protection.
1. Social Security Number – Do not carry your Social Security card or other identification items that contain a Social Security number in a wallet or purse. If you have an Individual Taxpayer Identity Number (ITIN), you should also protect it.
2. Protect SSN – Do not give out your Social Security number to stores or businesses unless there is a specific need.
3. Financial Information – Attempt to protect your financial information and do not give out your banking information to anyone without a specific reason or requirement.
4. Credit Report – You should check your credit report each year with one of the major agencies.
5. SSN Earnings Statement – Each year you should receive a report of your earnings from the Social Security Administration. Check that report for accuracy.
6. Personal Information – In your home or apartment, keep your sensitive personal information in a safe or locked cabinet.
7. Personal Computers – Everyone should use a virus-checking software program. You should update your operating system with security patches (some software companies automatically do that). It is also helpful to change the passwords periodically that are used for your banking or financial accounts.
8. Phone Solicitors – Do not give out your Social Security number, personal information or financial information over the phone.
There are several warning signs of a potential problem. If you are notified that more than one tax return was filed with your name, an identity thief might have been successful in an early filing. If you receive a request for tax due or a refund in a year where you were not required to file, that indicates someone else has filed using your name. Finally, if someone files and claims a large income and substantial tax refund, you may suffer a loss of your state or federal benefits.
There are several actions that you should take if you suspect you are a victim of identity theft.
1. Local Police – File a report with your local police department.
2. Federal Trade Commission – The FTC has an identity theft hotline at 877-438-4338.
3. Credit Bureau – You can request a “fraud alert” note on your record from Equifax (800-525-6285), Experian (888-397-3742) or TransUnion (800-680-7289).
4. Accounts – After notifying the bank or other financial institution, close any account that has been fraudulently accessed.
The IRS recommends that you file Form 14039, Identity Theft Affidavit. Even if you are subject to identity theft, there still is the obligation to file and pay your taxes. Many victims of identity theft choose to file a paper tax return for that year.
There also is a special identity theft protection unit within the IRS. The phone number is 800-908-4490.FINANCES
A Charitable Gift Annuity allowed them to take money that would otherwise bring very little interest in the bank and invest it in God's kingdom while providing a high level of income at the same time. Charles and Gladys receive a regular income at a guaranteed rate for the rest of their lives. A portion of what they receive is tax deductible, and when they established their Charitable Gift Annuity, they received an income tax deduction.
Beyond the security of receiving regular income for life, the Prescott's most appreciate being able to designate how the remaining funds will be used after they go home to Heaven.
Charles and Gladys were so pleased with their first charitable gift annuity, that they have established several more over the years and they have designated several different Nazarene ministries to receive the remaining funds after their death.
Through Charitable Gift Annuities, the Prescott's have planned well for their financial security and income needs. They have established a legacy of faithful stewardship that will continue to bless others, long after their death. They are wonderful examples of what God can do when His faithful servants team up with the Church of the Nazarene Foundation.Washington News
As the tax-filing season opens, the IRS has offered eight “tax tips” for your protection.
1. Social Security Number – Do not carry your Social Security card or other identification items that contain a Social Security number in a wallet or purse. If you have an Individual Taxpayer Identity Number (ITIN), you should also protect it.
2. Protect SSN – Do not give out your Social Security number to stores or businesses unless there is a specific need.
3. Financial Information – Attempt to protect your financial information and do not give out your banking information to anyone without a specific reason or requirement.
4. Credit Report – You should check your credit report each year with one of the major agencies.
5. SSN Earnings Statement – Each year you should receive a report of your earnings from the Social Security Administration. Check that report for accuracy.
6. Personal Information – In your home or apartment, keep your sensitive personal information in a safe or locked cabinet.
7. Personal Computers – Everyone should use a virus-checking software program. You should update your operating system with security patches (some software companies automatically do that). It is also helpful to change the passwords periodically that are used for your banking or financial accounts.
8. Phone Solicitors – Do not give out your Social Security number, personal information or financial information over the phone.
There are several warning signs of a potential problem. If you are notified that more than one tax return was filed with your name, an identity thief might have been successful in an early filing. If you receive a request for tax due or a refund in a year where you were not required to file, that indicates someone else has filed using your name. Finally, if someone files and claims a large income and substantial tax refund, you may suffer a loss of your state or federal benefits.
There are several actions that you should take if you suspect you are a victim of identity theft.
1. Local Police – File a report with your local police department.
2. Federal Trade Commission – The FTC has an identity theft hotline at 877-438-4338.
3. Credit Bureau – You can request a “fraud alert” note on your record from Equifax (800-525-6285), Experian (888-397-3742) or TransUnion (800-680-7289).
4. Accounts – After notifying the bank or other financial institution, close any account that has been fraudulently accessed.
The IRS recommends that you file Form 14039, Identity Theft Affidavit. Even if you are subject to identity theft, there still is the obligation to file and pay your taxes. Many victims of identity theft choose to file a paper tax return for that year.
There also is a special identity theft protection unit within the IRS. The phone number is 800-908-4490.FINANCES
Stocks - Amazon Has Profitable Quarter
Amazon.com, Inc. (AMZN) reported its fourth quarter results on Thursday, January 29. The company reported a net profit for the first time in two quarters.
Amazon reported that net sales increased 15% to $29.33 billion. When factoring in an $895 million exchange rate hit, the company's quarterly sales increased 18% compared to the same period last year.
"When we raised the price of Prime membership last year, we were confident that customers would continue to find it the best bargain in the history of shopping," said Amazon CEO Jeff Bezos. "The data is in and customers agree — on a base of tens of millions, worldwide paid membership grew 53% last year — 50% in the U.S. and even a bit faster outside the U.S."
Net income during the quarter was $214 million or $0.45 per share. This was a 12% decrease from the same period last year but an improvement over Amazon's two consecutive quarterly losses during the year.
Amazon has been on the hot seat with investors lately as the company has shown a preference for expensive growth initiatives over profitability. The fourth quarter was the company's first profitable quarter in two periods. Amazon has been heavily investing in its Prime service, new warehouses and new products such as its interactive speaker Echo. Last week the company announced plans to produce feature films for theaters that would then later debut on Amazon's Prime Instant Video service. Though operating expenses remain high, investors were pleased to see Amazon still knows how to make a profit.
Amazon.com, Inc. (AMZN) shares ended the week at $354.53.
Apple announced that revenue increased 30% during the quarter to $74.6 billion. The company sold a record 74.5 million iPhones during the quarter that fueled the huge revenue gain.
"We'd like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high," said Apple CEO Tim Cook. "Our revenue grew 30% over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal."
Net income during the quarter rose to an all-time high of $18 billion or $3.06 per share. This was a 38% increase over $13.1 billion from the same period last year.
Apple's record sale of 74.5 million iPhones was 10 million more than expected. The company's quarterly profit came out to a daily haul of $200 million during the quarter. Increased iPhone sales owed a lot to Apple's bigger-screened iPhone 6, which turned out to be a hit at home and abroad, especially in China. With the success of the iPhone 6, investors are now turning their attention to the release of the Apple Watch in April.
Apple, Inc. (AAPL) shares ended the week at $117.16.
Revenue during the quarter was $26.5 billion. This was an 8% increase over revenue of $24.5 billion during the comparable period last year.
"Microsoft is continuing to transform, executing against our strategic priorities and extending our cloud leadership," said Microsoft CEO Satya Nadella. "We are taking bold steps forward across our business, and specifically with Windows 10, to deliver new experiences, new categories, and new opportunities to our customers."
The company reported earnings per share during the quarter of $0.71. This was a decrease of 9% from earnings of $0.78 per share during the same period last year.
Microsoft has faced challenges in recent years as sales of personal computers continue to fall, lessening the demand for the company's Windows software. The company experienced revenue declines during the quarter in its gaming and commercial businesses. However, Microsoft reported that its cloud business has experienced triple-digit growth for the past six quarters.
Microsoft Corp. (MSFT) shares ended the week at $40.40.
The Dow started the week of 1/26 at 17,668 and closed at 17,165 on 1/30. The S&P 500 started the week at 2,050 and closed at 1,995. The NASDAQ started the week at 4,752 and closed at 4,635.
Bonds - Treasury Yields Continue Freefall
Amazon reported that net sales increased 15% to $29.33 billion. When factoring in an $895 million exchange rate hit, the company's quarterly sales increased 18% compared to the same period last year.
"When we raised the price of Prime membership last year, we were confident that customers would continue to find it the best bargain in the history of shopping," said Amazon CEO Jeff Bezos. "The data is in and customers agree — on a base of tens of millions, worldwide paid membership grew 53% last year — 50% in the U.S. and even a bit faster outside the U.S."
Net income during the quarter was $214 million or $0.45 per share. This was a 12% decrease from the same period last year but an improvement over Amazon's two consecutive quarterly losses during the year.
Amazon has been on the hot seat with investors lately as the company has shown a preference for expensive growth initiatives over profitability. The fourth quarter was the company's first profitable quarter in two periods. Amazon has been heavily investing in its Prime service, new warehouses and new products such as its interactive speaker Echo. Last week the company announced plans to produce feature films for theaters that would then later debut on Amazon's Prime Instant Video service. Though operating expenses remain high, investors were pleased to see Amazon still knows how to make a profit.
Amazon.com, Inc. (AMZN) shares ended the week at $354.53.
Apple Has Record Quarter
Apple, Inc. (AAPL) reported its first quarter results on Tuesday, January 27. The company had a record-breaking quarter that drove the stock price to new heights.Apple announced that revenue increased 30% during the quarter to $74.6 billion. The company sold a record 74.5 million iPhones during the quarter that fueled the huge revenue gain.
"We'd like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high," said Apple CEO Tim Cook. "Our revenue grew 30% over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal."
Net income during the quarter rose to an all-time high of $18 billion or $3.06 per share. This was a 38% increase over $13.1 billion from the same period last year.
Apple's record sale of 74.5 million iPhones was 10 million more than expected. The company's quarterly profit came out to a daily haul of $200 million during the quarter. Increased iPhone sales owed a lot to Apple's bigger-screened iPhone 6, which turned out to be a hit at home and abroad, especially in China. With the success of the iPhone 6, investors are now turning their attention to the release of the Apple Watch in April.
Apple, Inc. (AAPL) shares ended the week at $117.16.
Microsoft Reports Quarterly Results
Microsoft Corp. (MSFT) announced its second quarter results on Monday, January 26. The company's results were underwhelming as personal computer sales continue to decline.Revenue during the quarter was $26.5 billion. This was an 8% increase over revenue of $24.5 billion during the comparable period last year.
"Microsoft is continuing to transform, executing against our strategic priorities and extending our cloud leadership," said Microsoft CEO Satya Nadella. "We are taking bold steps forward across our business, and specifically with Windows 10, to deliver new experiences, new categories, and new opportunities to our customers."
The company reported earnings per share during the quarter of $0.71. This was a decrease of 9% from earnings of $0.78 per share during the same period last year.
Microsoft has faced challenges in recent years as sales of personal computers continue to fall, lessening the demand for the company's Windows software. The company experienced revenue declines during the quarter in its gaming and commercial businesses. However, Microsoft reported that its cloud business has experienced triple-digit growth for the past six quarters.
Microsoft Corp. (MSFT) shares ended the week at $40.40.
The Dow started the week of 1/26 at 17,668 and closed at 17,165 on 1/30. The S&P 500 started the week at 2,050 and closed at 1,995. The NASDAQ started the week at 4,752 and closed at 4,635.
Bonds - Treasury Yields Continue Freefall
Treasury prices rose again this week, pushing yields down, as the newest U.S. GDP report showed the economy expanding at a slower rate in the fourth quarter than expected. Combined with ongoing recession and deflation fears in Europe, investors are seeking the safety of Treasury bonds.
As of early Friday, January 30, the benchmark 10-year bond yield fell eight basis points to a 20-month low of 1.68%. The 30-year bond fell to an all-time low of 2.23%.
The fall in bond yields is the result of growing economic fears around the world and at home. It was reported Friday that the U.S. economy expanded 2.6% during the fourth quarter, less than predicted. Expectations were for a larger expansion following a 5% increase during the third quarter of 2014.
"The record low reflects a U.S. economy that's not as hot as many had hoped heading into 2015," said Guy LeBas, Chief Fixed-Income Strategist at Janney Montgomery Scott LLC. "The much-bigger intermediate trend is the amount of money flowing into the U.S. from overseas."
Though the U.S. economy is not expanding at the rate investors would prefer, its bonds are seen as a safer investment than those of other nations, especially in Europe where most countries are under a cloud of deflation and recession. U.S. 10-year yields are 77 basis points higher than other countries in the Group-of-Seven.
Jim Vogel, Head of Agency-Debt Research at FTN Financial, believes U.S. bond yields, while not the most attractive investment, are better than what investors can find elsewhere. "Treasuries stick out not because they are attractive, but because they are the least unappealing," he said.
The 10-year Treasury note yield finished the week of 1/26 at 1.68% while the 30-year Treasury note yield finished the week at 2.25%.
CDs and Mortgages - Interest Rates Rebound
As of early Friday, January 30, the benchmark 10-year bond yield fell eight basis points to a 20-month low of 1.68%. The 30-year bond fell to an all-time low of 2.23%.
The fall in bond yields is the result of growing economic fears around the world and at home. It was reported Friday that the U.S. economy expanded 2.6% during the fourth quarter, less than predicted. Expectations were for a larger expansion following a 5% increase during the third quarter of 2014.
"The record low reflects a U.S. economy that's not as hot as many had hoped heading into 2015," said Guy LeBas, Chief Fixed-Income Strategist at Janney Montgomery Scott LLC. "The much-bigger intermediate trend is the amount of money flowing into the U.S. from overseas."
Though the U.S. economy is not expanding at the rate investors would prefer, its bonds are seen as a safer investment than those of other nations, especially in Europe where most countries are under a cloud of deflation and recession. U.S. 10-year yields are 77 basis points higher than other countries in the Group-of-Seven.
Jim Vogel, Head of Agency-Debt Research at FTN Financial, believes U.S. bond yields, while not the most attractive investment, are better than what investors can find elsewhere. "Treasuries stick out not because they are attractive, but because they are the least unappealing," he said.
The 10-year Treasury note yield finished the week of 1/26 at 1.68% while the 30-year Treasury note yield finished the week at 2.25%.
CDs and Mortgages - Interest Rates Rebound
Freddie Mac released the results of its latest Primary Mortgage Market Survey (PMMS) on Thursday, January 29. The results show mortgage rates rising this week following reports of increased home sales.
The 30-year fixed rate mortgage averaged 3.66% this week. This was up from last week when it averaged 3.63%.
This week, the 15-year fixed rate mortgage averaged 2.98%. This number was an increase from last week when it averaged 2.93%.
"Mortgage rates ticked up this week for the first time in 2015 following positive home sales reports," said Frank Nothaft, Vice President and Chief Economist at Freddie Mac. "New home sales surged 11.6% in December beating market expectations. Likewise, existing home sales rose 2.4% to an annual rate of 5.04 million homes in December."
The money market fund finished the week of 1/26 at 0.4%. The 1-year CD finished at 0.7%.
Are you a Nazarene Legacy Partner (NLP)? The answer is “YES” if you have designated any gift to a Nazarene ministry in your will, bequest, or estate plan. This could be a tithe on your estate, an insurance beneficiary designation to your local church, college, global mission, or any other Nazarene ministry you support.
Send us your name and contact information by reply email and indicate “I am a Nazarene Legacy Partner” and we will add your name to our NLP honor roll. To model generosity inspires others to do the same. Thank you for your interest in gift planning. To access any of this updated financial and gift planning information, please select our website.
Church of the Nazarene Foundation
The 30-year fixed rate mortgage averaged 3.66% this week. This was up from last week when it averaged 3.63%.
This week, the 15-year fixed rate mortgage averaged 2.98%. This number was an increase from last week when it averaged 2.93%.
"Mortgage rates ticked up this week for the first time in 2015 following positive home sales reports," said Frank Nothaft, Vice President and Chief Economist at Freddie Mac. "New home sales surged 11.6% in December beating market expectations. Likewise, existing home sales rose 2.4% to an annual rate of 5.04 million homes in December."
The money market fund finished the week of 1/26 at 0.4%. The 1-year CD finished at 0.7%.
Are you a Nazarene Legacy Partner (NLP)? The answer is “YES” if you have designated any gift to a Nazarene ministry in your will, bequest, or estate plan. This could be a tithe on your estate, an insurance beneficiary designation to your local church, college, global mission, or any other Nazarene ministry you support.
Send us your name and contact information by reply email and indicate “I am a Nazarene Legacy Partner” and we will add your name to our NLP honor roll. To model generosity inspires others to do the same. Thank you for your interest in gift planning. To access any of this updated financial and gift planning information, please select our website.
Church of the Nazarene Foundation
17001 Prairie Star Parkway, Suite 200
Lenexa, Kansas 66220 United States
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