The spring equinox is here, bringing longer days, blooming landscapes, and a renewed sense of momentum. Just as clocks spring forward, the housing market may be poised to do the same.

The rate on 30-year, fixed mortgages averaged 6.65% in mid-March, sitting near two-month lows.

For two in five Americans, homeownership is synonymous with financial happiness, according to Empower research. While existing homeowners held firm through winter with over $35 trillion in home equity — many locked into sub-4.5%* mortgage rates — buyers are starting to see more options on the market. Inventory levels have risen to three to four months of supply, inching closer to the six-month benchmark considered ideal for a balanced housing market.

— The Editors 

🍃 Greener pastures: As spring blooms, so do yard maintenance costs. As of the second half of 2024, prices of outdoor equipment and supplies got a trim — dropping 3.3% year-over-year — while the cost of gardening and lawncare services rose 10.2% over the same time frame, according to the Consumer Price Index (CPI). DIYers may save on dollars, but for the two in five Americans who say outsourcing household tasks gives them a better work/life balance, time is money and hiring a pro gives them more of it. 

🐕 Shedding costs: As furry friends begin to shed their coats this spring, some pet owners will be able to shed some expenses from their tax bill. With petflation outpacing overall inflation by 1.4% over the past five years, many owners are looking to offset the rising costs of care. See which animals qualify for the so-called “pet tax credit” on The Currency^TM.

🧼 Cleaning up: Dust off those gloves — 80% of Americans will do a spring clean this season. While 18%* of shoppers prioritize price when picking cleaning products, one sponge is defying the bargain-hunting trend. Meet the Scrub Daddy — a “cult-favorite” sponge that raked in $220 million* in sales in 2023, despite costing up to 10 times more than alternatives. Now there’s even a $15* limited-edition version: The Scrub Mommy in a floral design. Looking to refresh even more? See how to spring clean personal finances on The Currency.

🌸 Peak blooms: Cherry blossoms will soon be back in bloom, predicted to peak March 28-31* in the nation’s capital. The National Cherry Blossom Festival in Washington, D.C. brings millions of tourism dollars, filling up hotels, restaurants, and retail spaces. Last year, visitors spent an estimated $202 million* in the city. 

Spring chickens

Egg prices rose again in February, increasing 10.4% according to the CPI and reaching $5.90 a dozen, on average. 

But opportunity clucks in the form of a unique solution: Chicken rentals. While buying and raising eight hens is around $3,000* in upfront costs, “Rent the Chicken” provides fowl, feed, and support for six months. Two rented hens can lay about a dozen eggs a week for $600.*

New beginnings

Babies are big business: Two-parent families in the U.S. spend between $9,300 and $23,380 on average on babies every year and luxury brands are ready to court their youngest customers.

Diapers and nurseries aside, parents are splurging on high-end baby gear, from bassinets to carriers. Thanks to a boom in baby tech,* products that could make parenting easier are surging in popularity — the global baby products market is expected to reach $611.4 billion by 2033. 

Faux bling

As wedding season kicks off and honeymooners head to tropical destinations, some are leaving their real diamond rings at home in favor of travel-friendly alternatives.

With diamond prices falling and Americans getting bigger sparklers for their savings, many couples are opting for lookalike rings to protect their gems from loss or theft while on vacation. Social media posts tagged #TravelRing surged over 480%* between 2023 and 2024.

Today marks 100 issues of The Currency! Thank you for joining us on this journey — we’re excited to continue bringing you smart financial insights, trends, and a fresh take on the markets.