What Is Market Overhang?

What Is Market Overhang?

Market overhang is a market phenomenon whereby investors hold off trading a stock that’s seen a drop in price, because the expectation is the price will drop even further.

A market or stock overhang can be precipitated by the awareness that a large block of shares — say, from an institutional investor — is about to hit the market, potentially driving a stock’s price down. But it can result from other factors as well. Although the event has not happened, investors may hesitate to sell or buy shares in anticipation of price drop — and this can further depress the stock price.

While there is also a business use of the term “overhang,” we’ll primarily focus on how market overhang works in finance and what it means for investors.

Market Overhang Definition

In its broadest use, an overhang describes a somewhat artificial market condition brought on by an anticipated shift in supply and demand (a.k.a. the price of a stock). Market overhang has a couple of uses in the business and finance worlds, and in an IPO market as well.

What Is an Overhang in Business?

An overhang in a business context can refer to the practice whereby a company, typically an industry leader, delays the release of a new product in order to stoke greater consumer demand for that product.

A familiar example might be the release of a new technology product or video game. The anticipation of the new release may cause consumers to avoid buying other products as they wait for the arrival of the new one. The overhang may result in lower purchases for existing products — and higher purchases of the newly released product. While this practice can be considered manipulative, it’s not uncommon.

What Is an Overhang in Finance?

More commonly: An overhang in finance is used to describe a dynamic that’s specific to how investors’ expectation about supply and demand can impact a company’s share price.

A market overhang is when a stock’s price declines because investors expect a further price drop on the horizon. Thus, some shareholders may hesitate to sell their shares, because that could further drive down the share price. Other investors may also hesitate to buy shares because of the anticipated price drop.

The business use of the term and the finance use describe different situations, but the common element is how investors’ anticipation of a future event can impact a company’s revenues or share price.

Needless to say, a market overhang can cast a shadow over a company’s performance, influencing share price, liquidity, and more, especially if the situation is prolonged. In many cases, though, market overhang is relatively short-lived and temporary. The difficulty for investors is knowing when the overhang, like bad weather, is finally going to pass. To that end, it helps to know some conditions that can cause a market overhang.

How Market Overhang Is Created

There are a few conditions that can lead to a market overhang. Often these conditions can overlap.

A Stock Decline

The first is where a stock is already declining, perhaps owing to a change in key economic indicators or market conditions, and there is a buildup of selling pressure as investors hesitate to let go of their shares in a down market. This type of market overhang may be resolved once there are signs of price stability (even if it’s at a lower level).

The Role of Institutional Investors

Another type of stock overhang can be created by institutional investors — or companies that manage investments on behalf of clients or members of a firm. Institutional investors tend to have a larger stake in a particular stock compared with individual investors. This means that when the institutional investor plans to sell a large portion of their shares, a market overhang could kick in when investors become aware of this possible sale.

The anticipation of a large block of shares entering the market could drive prices down, and thus investors might hold off trading this particular stock — impacting its price, even before the institutional investor has made a move.

The stock overhang might be worse if it occurs during a price decline. In that case, investors may see the decline in share price, become aware that a large investor may sell a block of shares (which could further depress the price), become even more wary of buying or selling the company’s shares.

IPOs and Market Overhang

A third way that market overhang may occur is after an initial public offering (IPO). An IPO market can be a hot market, after all, and a company may get significant press coverage as its IPO approaches, which can drive up the stock price.

But if the IPO isn’t a big hit, and the share price isn’t what investors hoped (in IPO terms), there might be a bit of an overhang as investors wait for the lock-up period to end. The lock-up period is when company insiders can sell their shares, potentially flooding the market and further lowering the price.

Understanding the Effects of Market Overhang

Market overhang can last for a few weeks or even months — sometimes longer. The chief impact of a market overhang is that it can artificially depress the price of a stock, and if the market overhang is prolonged, that can have a negative impact on company performance.

As noted above, a market overhang typically ends when a stock price stabilizes. Unfortunately that often occurs at a lower price point than before the shares began to decline.

Example of Market Overhang

While some consider the market overhang phenomenon more anecdotal than technical, it’s something to watch out for. It could present an opportunity. And it doesn’t require a complicated, technical stock analysis to understand.

For example, let’s say a large tech company is trading at $300 a share. But there are reports that the company has been facing some headwinds, and it may undergo a rebranding and repositioning. In the face of this change and uncertainty, it’s natural that it might impact company performance and the share price might wobble a bit. But then, if enough investors are concerned about the company’s “new direction,” there could be a bigger shift in trading behavior that might further depress the share price in advance of the company pivot — creating an overhang.

While this isn’t ideal for current shareholders, a market overhang like this could be a “buy” opportunity for other investors. It depends on a number of factors, and it’s always important to understand market trends as well as company fundamentals. But it’s possible that some investors may view the company as a good prospect, despite a currently undervalued share price, and buy shares with the hope they might rise to their previous levels.

Why Market Overhang Matters

Market overhang is a valuable phenomenon for investors to be aware of, largely because it reflects many of the basic tenets of behavioral finance, which is the study of how emotions can impact financial choices. A market overhang could be viewed as the result of loss aversion and herd mentality — two well-documented behavioral patterns among investors.

Loss aversion is, as it sounds, the wish to avoid incurring losses. Herd mentality is, not surprisingly, the tendency for investors to behave as a group: buying or selling in waves. You can see how these two very human impulses — to protect oneself from losses, and to follow the herd — might create a market overhang.

The good news, though, is that investors are capricious and markets can be volatile, which means the market overhang will usually pass, and the stock will regain its normal momentum, whatever that may be. As an investor witnessing the changing weather, so to say, it’s up to you whether a stock overhang might present a buy opportunity or a sell opportunity — if you need to harvest some losses, for tax purposes.

What Market Overhang Means for Shareholders

Market overhang affects different shareholders differently. Since institutional investors tend to be the ones who create market overhang, they also tend to have the upper hand on what it means for their investments.

Regular investors might worry that some of their shares are losing value. But with the ebbs and flows of the stock market, a price can rise and fall at various times throughout the year — even throughout a given day. Fluctuation is normal and this is part of the risk in investing in the stock market. Consider waiting out the storm to make an informed decision. There’s a chance the stock could rise to new highs and your investment will be worth even more.

The Takeaway

What is a market overhang? While this type of trend is considered more behavioral in nature, it’s worthwhile for investors to keep it in mind when a stock isn’t performing as expected. In some cases, when investors anticipate an event that could drive down a stock’s price, they may hold off on trading that stock, further depressing the price and creating a market overhang.

In that sense, a market overhang can become a self-fulfilling prophecy. Institutional investors can create a market overhang, for example, when they contemplate selling a large portion of their holdings. This might spook other investors, who likewise decide not to trade their shares, creating a sort of temporary downward spiral in the share price. But because two common investor dynamics are at play here — the fear of losses, and the desire to comply with what other investors are doing — the emotions are usually temporary, and the market overhang passes. And just because a price decline might upset some investors, it could present a buying opportunity for others.

If you’re ready to start your own portfolio, consider opening an Active Invest self-directed brokerage account with SoFi Invest. You can set it up easily on your phone or laptop, and start trading stocks, ETFs, crypo, IPO shares, and more. SoFi members even have access to complimentary financial advice from professionals. Get started investing for your future today!


SoFi Invest®
The information provided is not meant to provide investment or financial advice. Investment decisions should be based on an individual’s specific financial needs, goals and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal. Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or pre-qualification for any loan product offered by SoFi Lending Corp and/or its affiliates.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.


Photo credit: iStock/kupicoo
SOIN1121480

Read more
What Are NFTs (Non-fungible Tokens)_780x440

What Are Non-Fungible Tokens (NFTs)?

Non-fungible tokens (NFTs) are cryptographic digital assets that each have uniquely identifiable metadata and codes. Their data is stored on the blockchain, ensuring that they can’t be replicated or forged.

The tokens act as a representation, like an IOU, for either digital or tangible items. For instance, one could create NFTs that stand for digital artwork, virtual real estate in a game, collectible Pokemon cards, or even someone’s personal identification information. Currently, most of the NFT market is focused on collectibles like sports cards and digital art. But there are other highly priced NFTs on the market tool, such as a tokenized version of the first-ever tweet, created by Twitter CEO Jack Dorsey.

Let’s dive into the details about how NFTs work, why they’re important, and what makes them valuable.

How Do NFTs Work?

As an asset, an NFT works in the same way as trading any other asset: stocks, bonds, real estate, gold, and exchange traded funds (ETFs). You buy and sell NFTs for a profit or a loss, similar to other types of assets: NFTs are not cryptocurrencies, but you may use crypto to buy and sell non-fungible tokens. The purpose of NFTs is to monetize and tokenize ownership of all types of items, be they virtual or tangible.

If you’re interested in trading NFTs, you’ll need to find an NFT marketplace or platform on which to trade, a crypto wallet, and cryptocurrencies. There are many NFT marketplaces — like Rarible and others, cited below — so you’ll also need to do your due diligence when choosing one.

One way to make money from NFTs might be to purchase collectibles that you believe are undervalued, wait for them to appreciate, and then sell them in the marketplace.

What Are NFTs Used For?

The concept of digital representations of material items is not new. But the addition of blockchain technology makes NFTs important. As part of a blockchain, NFTs are easily verifiable and unique, each one able to be traced back to the original issuer.

NFTs are revolutionizing gaming, art, and the collectibles market. They also have the potential to transform real estate, travel, and identity management. Millions of dollars have been spent on NFTs over the past few years, and their popularity is increasing amongst both collectors and crypto traders.

NFTs and Gaming

For the first time, immutable ownership and efficient sale of collectible and in-game items is possible. This opens up many opportunities for online gaming and world creation. For instance, within virtual worlds like Decentraland (MANA) and The Sandbox, players can create pretty much any business one might create offline — design and sell hats, create avatars, or sell theme park tickets. Players can even create in-game currencies to sell to other users.

💡 Recommended: What Is Decentraland?

NFTs and Art

NFTs are revolutionizing the art world. Using an NFT exchange, artists can sell digital art directly to buyers, removing the need for a gallery or auction house. Typically, middle men can take a large percentage of sale profits, which means artists may be able to increase their profits using NFTs. It’s even possible for artists to earn royalties each time their artwork or music is sold. The most expensive digital art sold so far was a group of NFTs created by Beeple which sold for over $69 million.

NFTs and Identity Management

There are also use cases for NFTs in identity management. Currently people around the world travel with physical passports, which can easily be lost or stolen, and even replicated or forged. Storing identity information on the blockchain has the potential to eliminate these risks and may one day make travel processing more efficient.

NFTs and Real Estate

Another use case for NFTs is in real estate. Dividing up a property is difficult, but dividing digital real estate is easy. Multiple people can invest in and exchange property if it has been digitized. This principle can also be applied to other material assets.

NFTs and Supply Chain

NFTs can also help improve and validate supply chains. For instance, a coffee company could prove that their beans are fair trade. A wine company could create an NFT for each bottle of wine to keep track of every step of its production.

NFT Standards

Most NFT tokens are currently created using one of two Ethereum token protocols, ERC-721 or ERC-1155. These are essentially blueprints for tokens that were created by the Ethereum team. The blueprint creates a template for certain information — such as security and ownership information — that must be included when creating any new NFT. By standardizing this information, NFTs are easily distributed and exchanged.

Starting with a blueprint, software developers can create NFTs that are compatible with large public exchanges and NFT wallets such as MyEtherWallet and MetaMask. This ensures that people can buy and sell the NFT and hold it in their own personal wallet.

Other blockchain networks such as Tron, Neo, and Eos are also building out NFT token standards. Each of these platforms has different token functionality, so software developers can choose which platform is best for the token they are creating.

What Makes NFTs Valuable?

As with any type of asset, supply and demand drives the price of NFTs. Because there is a limited amount of NFT collections or individual non-fungible tokens, demand for them can be very high.

One might wonder what the value would be in owning a representation of a limited edition item as opposed to the real thing. NFTs are both easily verifiable and completely unique. This makes them easily tradable online. Their code is also useful because each NFT can be traced, including past transactions of that token. This provides security, transparency, and prevents fraudulent items from being sold.

Gamers, investors, and collectors have been flocking to the NFT market because they see the potential for market growth and significant profits.

Within certain online games, for example, real estate is a prized possession. Say you buy a plot of land on a main road in a virtual world, where it’s possible to build a casino. Because a casino has the potential to make a lot of money, so also is your plot of land on its own very valuable.

Resale Value and the Market For NFTs

The resale value for works of art and other collectibles in the secondary market is typically much higher than their original cost in the primary market. And this is true for the traditional art world as well as the digital art world.

Although NFTs have been around since 2014, the year they really took off was 2021, in what some think was a kind of NFT bubble. The resale market for NFTs did well in that year. But it was and continues to be dominated primarily by the flashy, big-ticket creators — like Beeple, CryptoPunks, FEWOCiOUS, WhIsBe, and Xcopy — whom the media has helped make popular. Their work sells for millions of dollars. Most NFTs, however, do not sell for those figures.

As with stocks, the value of NFTs goes up and down; the NFT marketplace is just as volatile as the market for crypto. For an asset to be profitable for the long term, it needs to have a robust secondary market, and it remains to be seen whether that can happen with NFTs. Because it is volatile, new, and unproven, you might not want to park your nest egg in the NFT market today. Though profit in the secondary market might be high for a few names at the top, most collectors and content creators do not reap large profits from reselling NFTs. Moreover, the current market is highly saturated. As with cryptocurrencies, it’s important to remember that there is never a guarantee of making money from NFTs.

Royalties

The value of art and collectibles is often hard to discern because it’s based so much on a consumer’s personal taste. For many, an NFT might appeal to factors other than money only. In this way, NFTs are unique in more ways than just being one of a kind.

Perhaps an NFT reminds the buyer of something soothing and familiar from their childhood; or it could act as a visual escape, a mini-vacation that takes the holder to far-off places. An NFT collectible also could serve as a status symbol in some circles. And, if the buyer of an NFT is wealthy, purchasing the item could invoke their philanthropic nature; they’d be helping the artists and creators directly.

Royalties are a huge help to content creators of NFTs. Each time an NFT is resold in the secondary market, the artist gets a percentage of the sales price. This is usually between 5% and 10%, and is paid out automatically to the artist upon resale. These royalties are perpetual; they continue indefinitely for the creator’s lifetime. Artists and creators set the percentage of royalties at the time they mint the NFT.

Cryptocurrencies vs NFTs?

You can buy NFTs with cryptocurrencies. But crypto and NFTs are not the same thing.

Because NFTs and crypto are both created with the same technology, blockchain, some might think that they’re the same, or at least more connected. But a better way to think of them is as a subset of the cryptocurrency culture; they can attract the same players.

Cryptocurrencies, like fiat currency, are fungible assets, which can be exchanged and used for financial transactions because they are identical to one another. For example, one U.S. dollar (USD) is always equal in value to another USD. Think of an NFT like a passport or a ticket to an event. Each one is unique.

An NFT that represents a baseball card can’t be directly exchanged for one that represents a piece of digital art. And even an NFT that represents one baseball card can’t be exchanged for one that represents a different baseball card. The reason for this is that each NFT is unique and contains specific identification information.

However, NFTs are similar to cryptocurrencies in that they have attributes and metadata that makes them easily transferable and identifiable.

💡 Recommended: A Beginner’s Guide to Cryptocurrency

Differences Between Crypto and NFTs

Cryptocurrencies

Non-Fungible Tokens (NFTs)

Identical to one another other Unique; no two alike
Digital assets that can be exchanged for goods and services Digital representations of a specific item; conferring ownership
Like currency; its only value is economic; exchangeable; one USD = one USD Value goes beyond economics; varies based on demand, interest, popular culture, and often personal taste
Can be bought and sold in fractional shares Can be bought and sold in their entirety only; can’t be divided into smaller portions

NFTs and Energy Consumption

Essentially, NFTs and cryptocurrencies are made of code, on very high speed computers, with blockchain technology as their base. Not only is developing code for these end products labor-intensive, it’s also energy-intensive, and leaves a large carbon footprint on the earth.

The major NFT marketplaces use Ethereum (ETH) to keep a secure record of all transactions on the blockchain. This is done via a mining process that verifies whether crypto transactions are valid. Mining Bitcoin, or any crypto, involves a complex network of computers that use advanced cryptography — and in doing so uses energy on the scale of a small country.

Joanie Lemercier is a French artist who’s known for his intense digital sculptures that gyrate into complicated patterns of light, color, and form.

When he learned that this process of making art was so energy-intensive. Lemercier began to look closely at his own energy use. In Lemercier’s calculations were a huge heating bill for his studio in Brussels, electric bills for the high-end computers to compose his creations, and dozens of plane flights per year to attend his exhibits around the world. After this exercise, this artist vowed to reduce his annual energy expenditures by 10%. He met his goal successfully and went on to become a climate activist.

As artists, content creators, and investors become more aware of just how large a carbon footprint these activities leave, they’ve begun to turn their attention to exploring other forms of sustainable energy; and even have joined groups to protest mining coal and projecting, projecting lasers onto excavation sites and government buildings.

💡 Recommended: Exploring NFTs and Their Environmental Impact in 2022

Key Characteristics of NFTs

NFTs have traits that make them different from other types of assets:

•   Indivisible: Unlike Bitcoin or other forms of cryptocurrency, NFTs can only be bought and sold in their entirety. They can’t be divided into smaller portions.

•   Non-interoperable: Just as NFTs can’t be exchanged for one another, one type of NFT can’t be used in another NFT system or collection. NFTs used in online games, for instance, are like a playing card or game piece. Just as a Monopoly piece can’t be used in the game of Life, the owner of a CryptoKitties NFT can’t use that NFT in the Gods Unchained game.

•   Direct Ownership: One important characteristic of NFTs is that the person who buys one actually does own it. They can sell it or hold it. It’s not held by a company the way iTunes holds music and licenses it out for users to listen to.

•   Extensible: Two NFTs can be combined to create a new, unique NFT.

•   Can Store Metadata: NFT creators and owners can add metadata to NFTs. An artist can sign their artwork digitally, for instance.

Where to Buy and Sell NFTs

When NFTs first emerged, the way to buy and sell them was via creators of NFTs, themselves. Creators of NFTs can include artists, musicians, public companies, trade groups, and universities. NFTs’ popularity, however, has spawned dozens of independent online platforms known as NFT marketplaces, where you may buy and sell these assets.

Many of these NFT marketplaces have a specific focus or niche. We may classify the marketplaces according to style, format, and subject to appeal to a wide assortment of audiences, such as artists, musicians, sports fans, gaming enthusiasts, and collectors.

Types of NFT Marketplaces

•   Open marketplaces: A broad array of NFTs created by various sources

•   Curated marketplaces: NFTs come from more specific or specialized sources

•   Collectibles marketplace: Focus on items like sports or movie collectibles

•   Games marketplaces: NFTs that are specific to online gaming

Some popular NFT marketplaces

•   Foundation: Foundation.app is a simple, no-frills way to bid on digital art, using Ethereum. Since the marketplace’s launch in early 2021, Foundation has sold more than $100 million of NFTs.

•   Nifty Gateway: Nifty Gateway has spearheaded the sale of some of the most popular digital artists, such as Beeple and singer/musician Grimes. It’s an art curation platform powered by the crypto exchange Gemini.

•   OpenSea: Currently the leader in NFT sales, OpenSea offers all kinds of digital assets, which are free to browse. It also offers artists and creators an easy-to-use process to mint their own NFTs.

•   Rarible: Similar to OpenSea, all kinds of art, videos, collectibles, and music may be bought, sold, or created on the Rarible platform. However, unlike OpenSea, Rarible has its own token (RARI), which you’ll need to use to buy and sell on the Rarible marketplace.

•   SuperRare: The SuperRare marketplace, like Rarible, is building a marketplace for digital creators. The site includes art, videos, and 3D images, but collectors can purchase artwork using Ethereum.

Investing in Cryptocurrencies Today

The NFT market is still new and full of potential for creators and investors. However, before investing in cryptocurrencies, NFTs, or any other digital assets, it’s important to research and understand the market.

One way to get started investing in digital assets is with SoFi Invest. Members can trade cryptocurrencies like Bitcoin, Ethereum, and Litecoin, right from the convenient mobile app.

Find out how to invest in crypto with SoFi Invest.

FAQ

What makes NFTs so expensive?

One thing that makes NFTs so expensive is that right now, non-fungible tokens are still new. So the NFTs that are coming to market are literally the first of their kind. A “first” of anything collectible is more valuable than an item that has been produced for many years. Moreover, we are in the midst of a blockchain craze in which makes NFTs’ value whatever will pay for them. These inflated prices will become lower the longer NFTs have been around and the easier they are to come by.

What type of investment are NFTs?

NFTs are digital assets that are created using blockchain technology. Usually, when you purchase an NFT, you are investing in the ownership of something.

What are NFTs used for typically?

Typically, NFTs are used by artists to create one-of-a-kind works of art, though literally anything that’s created on the blockchain and stores metadata may become an NFT, including passports and real estate transactions.

Are NFTs cryptocurrencies?

No, NFTs are not cryptocurrencies. You may purchase NFTs with crypto, but NFTs themselves are not used as an exchange of value. However, because they are created using blockchain technology, NFTs have become a sort of subset of crypto.


Crypto: Bitcoin and other cryptocurrencies aren’t endorsed or guaranteed by any government, are volatile, and involve a high degree of risk. Consumer protection and securities laws don’t regulate cryptocurrencies to the same degree as traditional brokerage and investment products. Research and knowledge are essential prerequisites before engaging with any cryptocurrency. US regulators, including FINRA , the SEC , and the CFPB , have issued public advisories concerning digital asset risk. Cryptocurrency purchases should not be made with funds drawn from financial products including student loans, personal loans, mortgage refinancing, savings, retirement funds or traditional investments. Limitations apply to trading certain crypto assets and may not be available to residents of all states.
Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.
SoFi Invest®
The information provided is not meant to provide investment or financial advice. Investment decisions should be based on an individual’s specific financial needs, goals and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal. Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or pre-qualification for any loan product offered by SoFi Lending Corp and/or its affiliates.
SOIN0322035

Read more
What Does Buying the Dip Mean?

What Does Buying the Dip Mean?

A down stock market could create an opportunity for investors to buy the dip. In simple terms, this strategy involves making an investment when stock prices are low.

This is a way to capitalize on bargain pricing and potentially benefit from price increases down the line. But like any other investing strategy, buying the dip involves some risk—as it’s often a matter of market timing.

Knowing when to buy the dip (or when not to) matters for building a solid portfolio while managing risk.

What Does It Mean to Buy the Dip?

To buy the dip is to invest when the stock market is down with the potential to go back up. A dip occurs when stock prices drop below where they’ve normally been trading, but there’s an indication that they’ll begin to rise again at some point. This second part is crucial; if there’s no expectation that the stock’s price will bounce back down the line then there’s little incentive to buy in.

Why Do Stock Dips Happen?

Stock market dips can happen for various reasons, including a macroeconomic downturn, unexpected geopolitical events, or general stock market volatility that causes stock prices to tumble temporarily on a broad scale.

For example, in early 2022, the stock market fell from all-time highs due to several developments, like high inflation, tighter monetary policy, and the economic fallout from the Russian invasion of Ukraine. The S&P 500 Index fell nearly 20% from early Jan. 2022 through May 19, 2022, flirting with bear market territory.

Stock pricing dips can also be connected directly to a particular company rather than overall market trends. If a company announces a merger or posts a quarterly earnings report that falls below expectations, those could trigger a short-term drop in its share price.

What’s the Benefit of Buying the Dip?

If you’re wondering, “why buy the dip?” or “should I buy the dip?” it helps to understand the upsides of this strategy.

Buying the dip is a way to cash in on the “buy low, sell high” mantra that’s so often repeated in investment circles. When you buy into a stock below its normal price, there is a potential – but not a guarantee – to reap significant profits by selling it later if prices rebound.

Example of Buying the Dip

One recent example of a dip and rebound would be the lows the market experienced in the spring of 2020 connected to economic fears surrounding the coronavirus pandemic. The S&P 500 Index declined about 34% in a little over a month, from Feb. 19, 2020, to Mar. 23, 2020. The index then experienced a gradual rise, recouping its losses by Aug. 2020 and increasing 114% through Jan. 2022 from the Mar. 2020 low. If an investor bought at the lower end of the stock market crash, they would have seen substantial gains in the subsequent rally.

On an individual stock level, say you’ve been tracking a stock that’s been trading at $50 a share. Then the company’s CEO abruptly announces they’re resigning—which sends the stock price tumbling to $30 per share as overall investor confidence wavers. So you decide to buy 100 shares at the $30 price.

Six months later, a new CEO has been installed who’s managed to slash costs while boosting profits. Now that same stock is trading at $70 per share. Because you bought the dip when prices were low, you now stand to pick up a profit of $40 per share if you sell. The potential to earn big gains is what makes buying the dip a popular investment strategy for some people.

Risks of Buying the Dip

For any investor, it’s important to understand what kind of risk you’re taking when buying the dip. Timing the market is something even the most advanced investors may struggle with—as it’s impossible to perfectly predict which way stocks will move on any given day. Understanding technical indicators and what they can tell you about the market may help, but it isn’t foolproof.

For these reasons, knowing when to buy the dip is an inexact science. If you buy into a stock low and then are able to sell it high later, then your play has paid off. On the other hand, you could lose money if you mistime the dip or you mistake a stock that’s in freefall for one that’s experiencing a dip.

In the former scenario, it’s possible that a stock’s price could drop even further before it starts to rebound. If you buy in before the dip hits bottom, that can shrink the amount of profits you’re able to realize when you sell.

In the latter case, you may think a stock has the potential to recover but be disappointed when it doesn’t. You’ve purchased the stock at a bargain but the profit you’re able to walk away with, if anything, may be much smaller than you anticipated.

How to Manage Risk When Buying the Dip

For investors who are interested in buying the dip, there are a few things to keep in mind that may help with managing risk.

Understand Market Volatility

First, it’s important to understand how market volatility may impact some sectors or industries over others.

For example, take consumer staples versus consumer discretionary. Staples represent the things most people spend money on to maintain a basic standard of living, like food or personal hygiene products. Consumer discretionary refers to the “wants” people spend money on, like furniture or electronics.

💡 Recommended: How to Handle Stock Market Volatility

In the midst of a recession, people spend more on staples than discretionary expenses—so consumer staples stocks tend to fare better. But that may create a buying opportunity for discretionary stocks if they’ve taken a hit. That’s because as a recession begins to give way to a new cycle of economic growth, those stocks may start to pick back up again.

Consider the Reason for the Dip

Next, consider the reasons behind a dip and a company’s fundamentals. If you’ve got your eye on a particular stock and you notice the price is beginning to slide, ask yourself why that may be happening. When it’s specific to the company, rather than something general happening across the market, it’s important to analyze the stock and try to understand the underlying reasons for the dip—as well as how likely the stock’s price is to make a comeback later.

Buy the Dip vs Dollar-Cost Averaging

Buying the dip is more of a hands-on trading strategy, since it requires an investor to actively monitor the markets and read stock charts to evaluate when to buy the dip or when to sell. If an investor prefers to take a more passive approach or has a lower tolerance for risk, they might consider dollar-cost averaging instead.

Dollar-cost averaging is generally an investing rule worth keeping in mind. With dollar-cost averaging, an individual continues making new investments on a regular basis, regardless of what’s happening with stock prices. The idea here is that by investing consistently over time, one can generate returns in a way that smooths out the ups and downs of the market.

Example of Dollar-Cost Averaging

For example, you might invest $200 every month into an index mutual fund that tracks the performance of the S&P 500. As time goes by and the S&P experiences good years and bad years, you keep investing that same $200 a month into the fund.

💡 Recommended: What Is Dollar Cost Averaging?

You’ll buy shares during the dips and during the high points as well but you don’t have to actively track what’s happening with stock prices. This may be a preferable strategy if you lean toward a buy and hold investing approach versus active trading or you’re a investing beginner learning the basics.

The Takeaway

Knowing when to buy the dip can be tricky – timing the market usually is – but there are times when it may pay off for some. If investors maintain an eye on stock market and economic trends, it may help in determining when to buy the dip and how likely a stock or the market will rebound. However, it’s still important to consider the downside risks of timing the market and buying the dip.

If you’re ready to start investing and take advantage of buying the dip, the SoFi app can help. With the SoFi Invest® online brokerage, you can trade stocks and exchange-traded (ETFs) with as little as $5.

Find out how to get started with SoFi Invest.


SoFi Invest®
The information provided is not meant to provide investment or financial advice. Investment decisions should be based on an individual’s specific financial needs, goals and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal. Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or pre-qualification for any loan product offered by SoFi Lending Corp and/or its affiliates.
SOIN21121

Read more
woman on laptop with notebook

What Is Dividend Yield?

A stock’s dividend yield is how much the company annually pays out in dividends to shareholders, relative to its stock price. The dividend yield is a ratio (dividend/price) expressed as a percentage, and is distinct from the dividend itself.

Dividend payments are expressed as a dollar amount, and supplement the return a stock produces over the course of a year. For an investor interested in total return, learning how to calculate dividend yield for different companies can help to decide which company may be a better investment.

But bear in mind that a stock’s dividend yield will tend to fluctuate because it’s based on the stock’s price, which rises and falls. That’s why a higher dividend yield may not be a sign of better value.

Keep reading to understand how to calculate dividend yield, and how to use it as a metric in your investment choices.

How to Calculate Dividend Yield

What is dividend yield, exactly, and how does it differ from dividends?

•   Dividends are a portion of a company’s earnings paid to investors and expressed as a dollar amount. Dividends are typically paid out each quarter (although semi-annual and monthly payouts are common). Not all companies pay dividends.

•   Dividend yield refers to a stock’s annual dividend payments divided by the stock’s current price, and expressed as a percentage. Dividend yield is one way of assessing a company’s earning potential.

What Is the Dividend Yield Formula?

Now to answer the question: How to calculate dividend yield? The dividend yield formula is more of a basic calculation than a formula: Dividend yield is calculated by taking the annual dividend paid per share, and dividing it by the stock’s current price.

Annual dividend / stock price = Dividend yield (%)

How to Calculate Annual Dividends

Investors can calculate the annual dividend of a given company by looking at its annual report, or its quarterly report, finding the dividend payout per quarter, and multiplying that number by four. For a stock with fluctuating dividend payments, it may make sense to take the four most recent quarterly dividends to arrive at the trailing annual dividend.

It’s important to consider how often dividends are paid out. If dividends are paid monthly vs. quarterly, you want to add up the last 12 months of dividends.

This is especially important because some companies pay uneven dividends, with the higher payouts toward the end of the year, for example. So you wouldn’t want to simply add up the last few dividend payments without checking to make sure the total represents an accurate annual dividend amount.

Example of Dividend Yield

If Company A’s stock trades at $70 today, and the company’s annual dividend is $2 per share, the dividend yield is 2.85% ($2 / $70 = 0.0285).

Compare that to Company B, which is trading at $40, also with an annual dividend of $2 per share. The dividend yield of Company B would be 5% ($2 / $40 = 0.05).

In theory, the higher yield of Company B may look more appealing. But investors can’t determine a stock’s worth by yield alone.

Dividend Yield: Pros and Cons

Pros

Cons

Can help with company valuation. Dividend yield can indicate a more established, but slower-growing company.
May indicate how much income investors can expect. Higher yield may mask deeper problems.
Yield doesn’t tell investors the type of dividend (ordinary vs. qualified), which can impact taxes.

For investors, there are some advantages and disadvantages to using dividend yield as a metric that helps inform investment choices.

Pros

•   From a valuation perspective, dividend yield can be a useful point of comparison. If a company’s dividend yield is substantially different from its industry peers, or from the company’s own typical levels, that can be an indicator of whether the company is trading at the right valuation.

•   For many investors, the primary reason to invest in dividend stocks is for income. In that respect, dividend yield can be an important metric. But dividend yield can change as the underlying stock price changes. So when using dividend yield as a way to evaluate income, it’s important to be aware of company fundamentals that provide assurance as to company stability and consistency of the dividend payout.

Cons

•   Sometimes a higher dividend yield can indicate slower growth. Companies with higher dividends are often larger, more established businesses. But that could also mean that dividend-generous companies are not growing very quickly because they’re not reinvesting their earnings.

   Smaller companies with aggressive growth targets are less likely to offer dividends, but rather spend their excess capital on expansion. Thus, investors focused solely on dividend income could miss out on some faster-growing opportunities.

•   A high dividend yield could indicate a troubled company. Because of how dividend yield is calculated, the yield is higher as the stock price falls, so it’s important to evaluate whether there has been a downward price trend. Often, when a company is in trouble, one of the first things it is likely to reduce or eliminate is that dividend.

•   Investors need to look beyond yield to the type of dividend they might get. And investor might be getting high dividend payouts, but if they’re ordinary dividends vs. qualified dividends they’ll be taxed at a higher rate. Ordinary dividends are taxed as income; qualified dividends are taxed at the lower capital gains rate, which typically ranges from 0% to 20%. If you have tax questions about your investments, be sure to consult with a tax professional.

Start investing in dividend
paying stocks and ETFs with SoFi.


The Difference Between Dividend Yield and Dividend Rate

As noted earlier, a dividend is a way for a company to distribute some of its earnings among shareholders. Dividends can be paid monthly, quarterly, semi-annually, or even annually (although quarterly payouts tend to be common in the U.S.). Dividends are expressed as dollar amounts. The dividend rate is the annual amount of the company’s dividend per share.

A company that pays $1 per share, quarterly, has an annual dividend rate of $4 per share.

The difference between this straight-up dollar amount and a company’s dividend yield is that the latter is a ratio. The dividend yield is the company’s annual dividend divided by the current stock price, and expressed as a percentage.

What Is a Good Dividend Yield?

Two companies with the same high yields are not created equally. While dividend yield is an important number for investors to know when determining the annual cash flow they can expect from their investments, there are deeper indicators that investors may want to investigate to see if a dividend-paying stock will continue to pay in the future.

A History of Dividend Growth

When researching dividend stocks, one place to start is by asking if the stock has a history of dividend growth. A regularly increasing dividend is an indication of earnings growth and typically a good indicator of a company’s overall financial health.

The Dividend Aristocracy

There is a group of S&P 500 stocks called Dividend Aristocrats, which have increased the dividends they pay for at least 25 consecutive years. Every year the list changes, as companies raise and lower their dividends.

Currently, there are 65 companies that meet the basic criteria of increasing their dividend for a quarter century straight. They include big names in energy, industrial production, real estate, defense contractors, and more. For investors looking for steady dividends, this list may be a good place to start.

Dividend Payout Ratio (DPR)

Investors can calculate the dividend payout ratio by dividing the total dividends paid in a year by the company’s net income. By looking at this ratio over a period of years, investors can learn to differentiate among the dividend stocks in their portfolios.

A company with a relatively low DPR is paying dividends, while still investing heavily in the growth of its business. If a company’s DPR is rising, that’s a sign the company’s leadership likely sees more value in rewarding shareholders than in expanding. If its DPR is shrinking, it’s a sign that management sees an abundance of new opportunities abounding. In extreme cases, where a company’s DPR is 100% or higher, it’s unlikely that the company will be around for much longer.

Other Indicators of Company Health

Other factors to consider include the company’s debt load, credit rating, and the cash it keeps on hand to manage unexpected shocks. And as with every equity investment, it’s important to look at the company’s competitive position in its sector, the growth prospects of that sector as a whole, and how it fits into an investor’s overall plan. Those factors will ultimately determine the company’s ability to continue paying its dividend.

The Takeaway

Dividend yield is a simple calculation: You divide the annual dividend paid per share by the stock’s current price. Dividend yield is expressed as a percentage, versus the dividend (or dividend rate) which is given as a dollar amount.

A company that pays a $1 per share dividend, has a dividend rate of $4 per year. If the share price is $100/share, the dividend yield is 4% ($4 / $100 = 0.04).

The dividend yield formula can be a valuable tool for investors, and not just ones who are seeking cash flow from their investments. Dividend yield can help assess a company’s valuation relative to its peers, but there are other factors to consider when researching stocks that pay out dividends. A history of dividend growth and a good dividend payout ratio (DPR), as well as the company’s debt load, cash on hand, and credit rating can help form an overall picture of a company’s health and probability of paying out higher dividends in the future.

If you’re ready to invest in dividend-paying stocks, consider opening a brokerage account with SoFi Invest. You can trade stocks, exchange-traded funds (ETFs), IPO shares, and crypto, — right from your phone or laptop, using SoFi’s secure online platform. SoFi doesn’t charge management fees, and SoFi members have access to complimentary financial advice from professionals. Get started today!

Find out how SoFi Invest can help further your financial goals.


SoFi Invest®
The information provided is not meant to provide investment or financial advice. Investment decisions should be based on an individual’s specific financial needs, goals and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal. Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or pre-qualification for any loan product offered by SoFi Lending Corp and/or its affiliates.

SOIN0221054

Read more
What 'Do Not Convert to ACH' Means on a Check

What ‘Do Not Convert to ACH’ Means on a Check

Checks seem a pretty mundane bit of banking, but if you’ve ever received one that says, “Do not convert to ACH” on it, you may wonder what’s going on. Is the check valid? Is it some kind of scam?

Let us help you out. Here, we’ll take a closer look at this situation and what to do with that check. We’ll consider:

•   What ACH, check conversion, and check conversion by ACH mean

•   What it means when a check says “Do not convert to ACH”

•   What happens when you cash a check that has those five little words on it

Now, it’s time to dive in.

ACH System 101

ACH stands for Automated Clearing House, which is an electronic system that transfers funds throughout the United States. This network allows individuals and businesses to move money from one financial institution to another. ACH transfers fuel so many of the transactions that make our financial world go around. Every time you set up automatic bill pay or receive your paycheck by direct deposit or write an eCheck, that’s ACH at work. Apps such as PayPal and Venmo also use the ACH network to send and receive money.

All money that flows through the ACH network is transferred electronically and uses bank-level encryption. In other words, transfers are safe and secure. They protect sensitive information such as your bank account number and a financial institution’s name from thieves.

How Does ACH Work?

ACH transfers are initiated by either making a withdrawal or deposit into an account. You can send money to another account on a one-time basis — such as through an ACH debit to a utilities company or transferring money to a friend for your share of a restaurant meal — or opt into recurring payments. For example, some companies allow you to make automatic payments, such as for subscription services. In either case, you give permission for the receiver to initiate a withdrawal from your account.

Now, let’s consider the flipside: You could receive money; that is, get an ACH credit. This happens when people receive a direct deposit of their paycheck or Social Security.

Once you or someone else initiates a transfer, the request will be processed first by your financial institution. You’re probably curious about how long an ACH transfer takes. Once the ACH transfer request is received, the financial institution will complete the request no later than the next business day. You may be able to expedite the request, as well as schedule a transfer for a future date.

Typically, ACH transfers are faster than other types of transactions, though a potential downside is that it’s only available for transfers within the U.S. (That’s one of the distinctions between an ACH vs. wire transfer, incidentally; the latter has global reach.)

What Is Check Conversion?

Check conversion refers to the process of transforming a check payment into an electronic payment. This usually happens at one of these three points:

•   Point of Purchase (POP), meaning when a purchase is made, say, at a store

•   Accounts Receivable Conversion (ARC), when a business receives a check by mail and then processes it electronically

•   Back Office Conversion (BOC), or when a check is processed electronically after acceptance at, say, the office of a retail location

What Does Conversion to ACH Mean?

Now that you know the different junctures at which conversion may be started, let’s get down to the nitty gritty of just what the “conversion to ACH” process means. Simply put, it describes the fact that a paper check will be converted to a payment that’s processed through the ACH network. In other words, even though a paper check was written and used as payment, it will become an electronic ACH transfer.

Recommended: How to Cash a Check with No Fees

Why Might a Check Be Converted to ACH?

The main reason why a check may be converted is to save time and money when processing payments. Plus, converting a check payment to ACH could be more efficient, as it can help financial institutions detect potential fraud earlier, make fewer mistakes, and even result in fewer returned payments. The service of ACH transfers is typically free to consumers.

Ready for a Better Banking Experience?

Open a SoFi Checking and Savings Account and start earning 1.25% APY on your cash!


Can a Check Be Converted to ACH?

While some may think that checks and ACH are separate entities, in truth, a check can be converted to ACH in many cases. (Unless, that is, the check itself says “do not convert to ACH.”) When converted, processing typically moves swiftly and securely; there’s no check to get lost or be forged, for instance.

Here’s how the conversion usually happens: When the check gets deposited in a checking account, the payment details are captured from the check. Then, the check itself will be stored securely by the financial institution — unless you have the physical check and are making a mobile deposit. If the check is converted in person, then the original check will be voided and given back to the payer.

If the check was converted for ACH, it will typically appear on a bank statement as a direct payment (or withdrawal) in the same section as ATM withdrawals or other forms of electronic payments. It could also appear as a check payment — some banks include a scanned image of the check or include the payment details.

Recommended: How Much are the Average ATM Fees?

What Does It Mean When a Check Says ‘Do Not Convert to ACH’?

When a check says “do not convert to ACH,” it means that the payer does not want to make a payment electronically. Instead, the payment needs to be processed manually from one financial institution to another through the check collection system.

More specifically, it means the financial institution will contact the other financial institution to request the funds, which is then delivered through a local clearinghouse exchange or other form organization like the Federal Reserve Bank.

What Is the Benefit to the Drawee if a Check Says ‘Do Not Convert to ACH’?

Checks that say “Do not convert to ACH” may sometimes be printed when a payer is issuing multiple checks; for example, if a class action suit is being paid out. In this case, perhaps the check issuer does not want the much faster electronic processing of their checks. Perhaps it suits them to have a slower payment process.

What Is the Difference Between ACH and a Check?

The difference between ACH and check payments is the network in which they’re processed. ACH payments are processed electronically through the ACH network, whereas non-converted paper checks are processed through a manual process. In many cases, ACH transfers are processed faster than paper checks, though most checks can be processed within one business day, though you may have to wait for it to clear.

The Takeaway

When it comes to getting paid, the ability to convert a check to or use the ACH network is most likely the most efficient way. That’s because this electronic payment system allows financial institutions to process transactions more quickly and securely compared to paper checks.

Unfortunately, there’s not much you can do if the check you receive says “Do not convert to ACH,” however rare they may be. It’s unlikely that you will receive one in today’s world, but if you do, deposit it and allow the extra time required for it to transform into available cash.

Most of us love the conveniences of banking today, and if you want to make a good thing even better, why not bank with SoFi? Sign up for a new bank account with direct deposit, and you’ll be able to access your paycheck up to two days early. Other benefits: a super-competitive 1.25% APY and no account fees at all. That means you keep more of your money, and it grows faster!

Bank smarter with Sofi.

FAQ

Can an ACH payment be declined?

Yes, an ACH payment may be declined or rejected for a few reasons, the most common one being that the payer doesn’t have enough funds in their account for the transfer. Other reasons include the account was closed by the time the transfer took place, the funds have been frozen, or the payer has stopped the payment request.

What does “ineligible for conversion” mean on a check?

If a check says “ineligible for conversion,” it means the check can’t be converted to an ACH payment. This may be due to the paper the check was printed on. The payee needs to either cash or deposit the actual check at a local branch.

Why would a bank reject a check?

There are several reasons a bank would reject a check, including:

•   You don’t have an account at the bank where you want to cash the check

•   You don’t have proper identification to show to the bank

•   The amount may be too large for the financial institution to process

•   The check is void (for example, the check is old and the payment is no longer valid)

•   The signature on the check doesn’t match what the bank has on file


Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2022 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
SoFi members with direct deposit can earn up to 1.25% annual percentage yield (APY) interest on all account balances in their Checking and Savings accounts (including Vaults). Members without direct deposit will earn 0.70% APY on all account balances in their Checking and Savings accounts (including Vaults). Interest rates are variable and subject to change at any time. Rate of 1.25% APY is current as of 4/5/2022. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

Photo credit: iStock/fizkes
SOBK0322025

Read more
TLS 1.2 Encrypted
Equal Housing Lender