Today's Scoop:

Hey friends, have you seen our new referral rewards? In response to all your poll feedback, we increased the reward for recruiting one new subscriber to $10 in our Scoop Shop! AND your second referral earns you a free financial coaching session with our experts! Don’t miss our new Earth Day sweatshirt.

Here’s what you need to know today…

1. Falling home prices invited more buyers last week.

2. Mortgage rates are rising.

3. Companies invested less in their businesses last month.

S&P 500: 4,055.99
1Mo: +2% | 1Yr: -3% | 5Yr: +52%

The market wavered lower today as positive financial updates from Big Tech and others didn't distract investors from worrying about another bank going under. First Republic Bank has been on crisis watch for a while. Something is going to happen, but it so far seems bank-specific, not systemic.

Falling home prices have motivated more home buyers, despite rising mortgage rates. The Mortgage Bankers Association reported a 5% jump in new home purchase mortgage applications last week, despite the average rate on a 30-year mortgage rising to 6.55%. The National Association of Realtors reported last week that the median sales price for an existing home dropped by 0.9% to $375,700 in March.

Companies have slowed spending on supplies and equipment. The Commerce Department reported a decline in business investment in equipment and other capital goods. Orders for durable goods, things that last more than three years, like vehicles or appliances, jumped thanks to a pickup in airplane orders last month. Otherwise, durable goods orders have been declining.

Click to dig in & vote your reaction, see how others feel

• Hilton thinks travel fever is just getting started

• Chipotle hiked prices and people wanted more

• Visa isn’t worried about a consumer spending slowdown

• Microsoft’s slowing but not stalling

• Google maintains search dominance and buys back shares [🤓]

(These links only work for 24 hours while the story is live)

Dividends and Share Buybacks

Companies with extra cash can reward shareholders for their support in two ways. First, they can distribute money directly to investors, literally giving them a share of the profits by paying them a dividend. Companies will declare that every investor gets $X for each share they own.

Second, companies can buy back their own shares from public investors. Buybacks allow companies to reduce the number of outstanding shares in the market, making each remaining share more valuable. They're slicing their company ownership into fewer pieces, allowing each shareholder to own a greater percentage of the company. If companies pause or slow either of these activities, it can mean they're preparing for trouble.

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Here are our top priorities for today’s challenges:

1. Rising Rates & More Layoffs: Make sure you have an emergency savings in cash. Use SaveBetter to make sure your savings account pays you at least 4%.

2. Higher Living Costs & Tighter Budgets: Make sure to avoid debt by tracking your spending, building savings, and spending carefully. We use Guac to save while spending and get cash back on 200+ brands.

3. Volatile Markets: Automate your investment contributions to take the emotions out of it. We use M1 to automate banking and investing in one place.

4. Hidden Opportunities: Down markets are a good time to hunt for bargains if you have the savings. We’ve made a lot of money from Motley Fool’s stock picks.

Based on your feedback, recruiting 1 new member now earns you $10 free in our Scoop Shop, and a 2nd recruit gives you exclusive access to schedule a personal finance coaching call with our Certified Financial Educator!

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