🔨 Time for a remodel? Here’s how much it might cost.

Saturday,
May 6, 2023

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The week in review

• First Republic lost nearly half of its deposits in recent weeks. As a result, it was seized by federal regulators and sold most of its operations to JPMorgan. JPMorgan, the biggest US bank by assets, has now taken over $92 billion of First Republic’s deposits, including the $30 billion Chase and other large banks contributed last month.

• In the summary of the Fed interest rate decision, prior language signaling more hikes was removed. However, the committee said it will continue reducing its balance sheet. In his speech following the increase, Chairman Powell emphasized that a decision on a pause was not made, as the Fed will remain data-dependent.

• The US trade deficit narrowed to a four-month low of $64.2 billion in March. Exports increased by 2.1%, largely prompted by sales of crude oil, fuel oil, natural gas, and passenger cars. On the other hand, imports fell 0.3%, largely driven by a decline in purchases of semiconductors, electronics, and construction machinery.

For more economic news, visit On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Time for a remodel? Here’s how much it might cost.

The cost to remodel a house will depend on the number of rooms you decide to renovate, the degree to which each room is remodeled, the materials you use, and the area in which you live.

Are you thinking of renovating or remodeling your home? This home renovation cost calculator can help you estimate your project cost before you get started.

And if you need a little more cash on hand to help with your project, using a personal home improvement loan can help.

This week's top stories

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Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 696891. (www.nmlsconsumeraccess.org)

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