A couple of weeks ago we decided to stop sending each other “Did you see this?!” emails, and start sharing these opinions and reactions with all of you. If you like this kind of thing (or don’t), feel free to let us know or join the conversation. In the meantime, here’s what we’ve seen:
Renters now pay less than homeowners; what does this mean for mortgage lenders?
When you add everything up (housing cost, utilities, taxes, fees), renters are saving an average of $600+ a month over homebuyers in all 50 states. Of course that varies by location – New York, San Francisco and San Jose homeowners are spending about $1200 more/month, while Orlando, Tampa and Indianapolis homeowners are only spending $335 more per month. Keep in mind that this report was based on data before real estate prices went crazy. Will this info start to change people’s minds about renting v. buying?
BuhBye, Internet Explorer!
Launched in 1995, by 2003 IE had 95% of the browser market. Only 7 years later, that share tumbled to 59.9%. Today? Less than 1% of market share. As we’ve been saying for years, if you or your members still use IE on your machines, you’ve only got a year left to update.
Who will be the first to use these new rules for Zoom Meetings?
Seth Godin has proposed two new rules that could reduce the time you spend in worthless zoom meetings: (1) anyone invited to an internal meeting can opt-out, request a summary, and get back to doing something productive, and (2) if anyone in an internal meeting announces that it is a pointless waste of time, it’s over. WooHoo!
Home is where your… office is?
It’s looking like remote work is here to stay. A whopping 38% of responding U.S. businesses have said that 40% or more of their employees will be working remotely a year after the pandemic subsides. At least this should keep everyone from fighting over the corner office. Don’t worry about physical office spaces going away completely though: They’re still expected to be a spot for collaboration and professional development.
Get a glimpse into the Now
The Financial Brand put together a bunch of keyword snapshots to paint a picture of the current world of digital banking. Digital-only banks are showing a steady increase, and Venmo remains the top dog of P2P apps. Digital marketing continues to leave TV and Radio in the dust. Interest in debit cards has skyrocketed during the pandemic. Digital history buff? Google Trends lets you compare multiple search terms to see which gets more hits, stretching back from 2004 to the present.
Smaller CUs may be getting smaller
According to the NCUA, about half of federally insured credit unions had fewer members at the end of 2020 than a year earlier. A quick look at the chart on page 41 is a reminder of how many small CUs have disappeared over the last 10 years. Meanwhile, at the end of 2020 there were 649 federally insured credit unions with assets of at least $500 million, 34.9 percent more than five years earlier.