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The Clark Howard Podcast

06.15.23 Inflation Busters / Mortgages: The 1% Down Payment

The Clark Howard Podcast

Clark Howard

Business, Investing, Entrepreneurship

4.65.2K Ratings

🗓️ 15 June 2023

⏱️ 32 minutes

🧾️ Download transcript

Summary

Inflation busters! With inflation easing in some categories, Clark shares some items that are more affordable now. Also, with the housing shortage and high mortgage rates, house hunters are looking for creative ways to become homeowners, including ARMs and the 1% down payment. Get Clark’s take on both options.  Inflation Busters: Segment 1 Ask Clark: Segment 2 2 Mortgage Options Explained: Segment 3 Ask Clark: Segment 4 Mentioned on the show Eggs Are Going on Sale Just Months After Prices Hit Records It's not just the Costco $1.50 hot dog combo—4 products that have beaten inflation Homebuyers might be able purchase a home with less savings — thanks to the two largest US mortgage lenders now allowing down payments of just 1% Why You Should Not Get a 1% Down Payment Mortgage Adjustable-Rate Mortgage: What Happens When Interest Rates Go Up Unprecedented Change to Clark Howard’s Longtime Home Buying Rule How To Freeze Your Credit With Experian, Equifax and TransUnion How to Freeze Your Child's Credit Should You Buy a Car With a Salvage Title? Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Did you know choosing the train over your car can cut your carbon footprint by up to two thirds?

0:06.0

So, one family outing at a time, one little adventurer at a time, one trip to the museum, one dinner in the city, one nap on the way home at a time.

0:18.0

One train journey at a time can help create a greener future.

0:23.0

So when will you take your next trip? Find out more at nationalrail.co.uk slash greener.

0:35.0

It's my pleasure to welcome you to the Clark Howard Show Armageess to serve you and empower you to make better financial decisions in your life.

0:44.0

This episode, I'm going to start with inflation busters.

0:50.0

A lot of items getting more affordable now than they've been.

0:55.0

And it's really, really cool. And something not so cool. You probably have seen the ads.

1:04.0

New mortgages available with only 1% down. A friend called me and asked,

1:13.0

this sounds so exciting. Should my daughter do it?

1:18.0

I'm going to let you know about the 1% down payment mortgage.

1:24.0

So, in the cardiology full employment act, the cost of eggs that had gone so high, and I wonder if there's a pattern.

1:38.0

You know, when people's cholesterol is checked, if when egg prices went crazy high, if people's cholesterol numbers, the bad cholesterol went down, the good cholesterol numbers went up.

1:52.0

Because people couldn't afford to buy eggs.

1:56.0

Eggs get a bad rap. It's probably more like cheese and butter and stuff like that.

2:01.0

And ice cream. High butter fat content.

2:04.0

And ice cream.

2:07.0

Well, the good news, egg prices are way, way down. Except as I heard, we had a staff meeting the other day.

2:15.0

And I had no idea that people could take like their annual income to buy a dozen eggs, buying what were all those eggs that we have a few of us.

2:25.0

So, what we were talking about.

2:27.0

The extra raised eggs. Because the eggs aren't raised there, the chickens are.

2:32.0

They eat grass and bugs and all those things that they're supposed to eat instead of being kept in cages or even cage-freeze.

...

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