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Marty Cantor has the three big reasons why this could be happening to you.

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NJ Weather Stories

Weather stories

NJ | Weather

123NJweather_2023-12-03-06-30-42

Now gonna head to weather Hilda. I know it was Misty this morning. So is that like what today is gonna be like all day? Yes and not all day, I would say for the large portion of the day, especially the day part, you know, I see a lot of the showers slowly gradually exiting right around three and four o'clock. So, you know, we're gonna deal with all this wet weather in the beginning of the day. So if you do have any outdoor plans, just make sure that you grab that trusted umbrella. Uh the ways be super active, but it could be gusty at times and we're noticing the fifties. So, Newark 5152 Clifton, 50 degrees New Brunswick 51. So it's definitely gonna be that kind of like that moody, almost like Adele vibes type of day, that cozy weather that you wanna stay inside for um a light to moderate rain into this afternoon could be expected. Now, tomorrow and Wednesday throughout Wednesday, um we are expecting things to cool down a bit and we are trending dry and there is the potential here potential. Um As we continue to watch a wintery approach with some snow flakes into the mix. Wednesday, Thursday. That'll be interesting to see if it actually comes to fruition and to life with the colder temperatures and the moisture in place. We definitely need those two components. The moisture is definitely here. The rains are going to be, um, here heading into the afternoon time frame slowly taper down. But during that time frame too, we'll notice that the heaviest rain also falls between 10 and three o'clock this afternoon by three and four, we'll notice the showers exiting. We're left with just the cloudier feel and the gray skies to contend with eventually and gradual clearing into the overnight. It's pretty widespread system but there are light showers. Um, all in all some heavier rain pockets could be expected. Um, later this morning, go right around Atlantic City. It points south of Belmar as well. Nine o'clock. It kind of just stays kind of just focused more in that southern region. But of course, notice what happens as we head into 12 o'clock, we kind of almost get clipped northwestern portions of the state for the heaviest rain. And by one o'clock, we look really good, some very light showers heading into three and four. But uh overall a nice picture here with the showers exiting a little bit sooner than anticipated. So it's not, um, truly, um, going to be long lasting at all, gradual clearing when it comes to those clouds as we say good morning to Monday and drier feels all in all. So we're not expecting these showers to truly impact by all means, but by any means, rather your Monday, by Tuesday, Wednesday, Thursday, we notice the temperature is slowly falling back down, making it feel much more December like.

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Weather

Brooklyn

BK | Weather

BXFORECAST

And storm watch team. Meteorologist, Alex Calamia, Alex. If folks are going out and about today for any of those winter activities, it looks like the rain is going to stop at some point. Right. Yeah. You know, I mean, but it might not be until after the day ends in a sense because sun sets before 430 now and I don't really see us getting a big break from the rain until the evening time. This is what it looks like. Right now in midtown, it's a light rain. You might actually be able to head outside without even using the umbrella. I personally have a rain jacket because I think that's kind of your best bet. This evening, we still have some sprinkles, but we are dry for a work week. I mean, I don't want to talk about the work week on a Sunday morning, but if you're looking for something positive, I've got that for you in the 10 day. Here's 9 a.m. soaker, here's lunch time, still dealing with at least light showers. You see the green is a lighter shade here so it's not as widespread. It's not as heavy of a rain. But we still have some rain at four o'clock again. It's not absolutely pouring, but it's light mist, gloomy, kind of just, you know, not good weather, but it's not going to be anything really significant as far as rainfall totals. They're very limited. So we're maybe looking at half of an inch of rain when it's all said and done. Monday morning. Lots of sunshine. Beautiful start to the day and then the clouds push in Monday afternoon and we'll have cooler temperatures. By Tuesday. We're in the upper forties now. We're in the low fifties for highs today. Not a big jump in temperature. East breeze coming in. It feels really chilly tonight. Not bad. We're in the forties again. We do have sunshine by Monday morning. So a good feel as you're getting, the kids ready for school are heading out to work. We do hit mid ff on Monday and again, no rain after today for the whole work week. So that's something to be happy about, but it will get cold Tuesday and Wednesday and Thursday too, by the way, will feel like it is in the thirties.

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Westchester

WC | Weather

HVFORECAST

We have a really steady rain all day today. You don't need me to tell you, but it's gross out there. But how long does it last? That's where I come in tonight. Some scattered showers. It's not as widespread for the later half of the afternoon. The clouds will still be around until Monday morning. But hey, the good news is that the work week looks good. We're dry. We have a few clouds but we're getting colder as we move past Monday. So get ready to need the winter jacket. Here's what the rest of this morning shapes up. Like, see, you know, as we move closer to noon time, the showers do at times get a little bit on the heavier side. This is noon. You see, holding steady temperatures, mid forties, just like they were when you woke up by noon time, just like you woke up near 50 in Yonkers, you're near 50 at noon. So no change with the temperature. If anything, you might actually drop in temperature a little bit. This afternoon, we catch a break after two o'clock. It's still light showers. It's still really gloomy. It's still really cloudy, but at least the rain isn't as widespread for the later half of the afternoon. It's not great though, at any point today, you should at least have the rain jacket. I don't know if you necessarily need to go with the umbrella all day, but Monday problem fare, check this out. You're about 40 degrees for the Upper Hudson Valley. Low to mid forties for the morning commute for the lower Hudson Valley and we are dry and we actually have sunshine early Monday, but then the clouds roll in Monday afternoon and we're gonna do that again on Tuesday and on Wednesday it looks like morning sunshine, afternoon clouds. Now, the difference is, it is much colder as we move into the middle of the week. Monday feels like 51. Tuesday feels like 41 and Wednesday feels like 36. Welcome back. Winter. Here we are. It looks pretty chilly too for the first night of Hanukkah. But we warm up again next weekend. So snow lovers just be patient because it's not looking like the odds are good quite yet.

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Long Island

LI | Weather

LIFORECAST

Probably needed if it was a normal December weekend. So we have definitely steady rain all day today tonight though. It just translates into a scattered shower. So the worst of the rain is during the daytime. And then from a work week, we are getting a bit cooler, so steady showers, a big big plume of light showers and fog just continues to push through the island even at noon time. So you see all morning we're in the green. So rain is falling and then around 23 o'clock, maybe some of this rain stops falling a little or at least it gets a little lighter and it's a little bit more like a mist, but it's gloomy all day. There's no sunshine today. It is tucked way above the clouds and even 89 o'clock, we still have that quick little stray shower risk at that point though. You probably won't need the umbrella. Monday morning. Looks ok. We have sunshine in the morning. The after afternoon, clouds are gonna come back our direction. Overall, the temperatures look pretty good on Monday today, the temperatures look ok. We're around 50 which is what you're also stepping out to this morning, but obviously the rain makes it feel a lot colder. Now, over the course of the whole day, we're picking up about a quarter of an inch of rain to maybe three quarters of an inch. That's not a huge amount, but it's going to be relentless. Just that drizzle. It's terrible when that kind of situation happens. But for a morning commute on Monday, it's looking nice and quiet and the afternoon is near 50 in this time with sunshine. The general trend is actually warmer than average temperatures through the middle of the month. So that should turn off any risk of snow in the forecast. In fact, even though we have cooler weather, Tuesday, Wednesday, Thursday and Friday, it's totally dry there. And by the time rain comes back next week it's in the fifties. All right.

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Hudson Valley

HV | Weather

Bronx

BX | Weather

Connecticut

CT | Weather

CTFORECAST

The next generations continue to build more greenhouses growing seasonal plants in different varieties. There's hundreds of varieties of them. How do you know which ones are going to be the most successful in growing over the years? Trial and error? That hot pink is fantastic. Along with the white. It's got the uh old fashioned look to it. Is that a narrow relief? Is that a smaller brack? It's got a bigger sy in the middle, but it's a classic point set up just like the farm itself changing with the times, but with a nod to the past and in the process bringing us that traditional plant, we've all come to know as the Christmas flower. Kurt's farm is only wholesale so retail customers cannot purchase poets from them. Beautiful day on the farm, but not so much today. Hilda, what are we looking at? We're looking at some rain showers, you know, come and go. Um We're noticing that, you know, they, they kind of lighten up, especially around eight o'clock in the morning and we're like, oh, goody, we're done with it. Not so fast because then we get a little bit of more moderate, heavier pockets and play, you know, right around 10 o'clock, which county looking good. But then it's all encompassing. We're noticing widespread showers heading into the afternoon time, lunchtime as well. A quick pass there between one and two is also likely with a bit more moderate showers. Those are the yellow and deeper greens by four o'clock though. Things look so much better and some just lingering sprinkles are left right around six o'clock. The cloud will stay with us overcast guys and then nice, beautiful clearing there after as we head into Monday and Tuesday. So this is what we have on tap 50 now, cooler later and watching for snowflakes on Thursday.

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0711BeWellMoneyMartyinsurance_2023-07-11-09-31-05

Money with Marty: Homeowners insurance premiums are going up

It is time now for your money with Marty. And today we're talking about some of our business headlines. We want to start with corporate default rates. So what we know obviously the Federal Reserve does plan to keep hiking interest rates to stem inflation, which could end up meaning an increase in corporate default rates could happen in the coming months. So in May we take a look back and the corporate default rate did rise again, a sign that us companies are struggling with the higher interest rates that make it more expensive to refinance their debt. There have been 41 defaults in the US, that one that also happened in Canada that so far this year that makes us globally, you know, more, you know, the biggest area that is having this problem and when we take a look at last year, we're double the same time period. Well, the real, the real story here is that corporate corporate America is not generating enough revenues. You know, we see that the gross domestic product has been dropping since last September and the corporate profitability rate, 4% of corporations rather corporate profits dropped 4% in the fourth quarter, they dropped 2% in the first quarter of 2023 and they're expected to drop 6.4% in the second quarter. So that tells you that corporate America is having a problem paying its bills and also getting revenues. And the other point is is that consumers are now becoming more concerned about how they spend their money. So that's the big story about uh in the default rates has less to do. I believe about refinancing cost because of the inverted rate curve. It's cheaper to borrow long term and short term. So it's, I think it's more about the economy is now starting to really feel the impact of the federal reserve interest rate increases and they're expected to increase another uh two point uh another 50 basis points before the end of the year because they market rate was 5% 5.5% rather of, of interest rates when they started this so far, 10 consecutive interest interest rate increases in a row. Right. All right, let's talk about you. We kind of alluding to it. People having the same issues with money management that new report from do so on how Americans are paying their bills. 73% of consumers say these higher prices have affected their ability to cover their monthly expenses. I'm talking about your cell phone bills, your auto insurance, cable, internet, things like that. And right now, Americans owe nearly $1 trillion in credit card debt, which is a record high. And that's the most recent data from the Federal Reserve Bank of New York. Yeah, and add that to the fact that the first quarter of this year debt increased 100 and 48 billion. So now total household debt is up 7.9% as that's $17 trillion. That's enormous. And 71% of that debt is mortgages, 9% of student loans and 9% of auto. So these costs with wages now not going up as much as inflation. Now. There, there's really a crunch on the household budget and debt is fueling this as well as people now deciding where they want to spend their money. And we're seeing that reflected in corporate revenues and gross domestic product and with these defaults and we know that fewer than half of Americans say they have enough for, should an emergency happen? You would think they would want three months, I think you say six months. Right. But, but they just don't have it. Yeah, we've been saying six months for a long time, uh six months of household expenses, but they don't have it anymore because the, the nation's money supply since last April is down $1 trillion. That's, that's a lot of money that's impacting the households. That means there's less government money in, in, uh, families pocketbooks to spend. Well, one thing that people will have to pay more for it looks like is homeowner insurance. It's becoming even more expensive and it, some place is really difficult to find. Yeah. Well, my daughter is in Florida and, uh, and she is now, uh, uh, she's looking for insurance based on cost. Two major companies have left, uh, the cost of rebuilding because of the uh increased construction cost because of inflation. Uh, it costs a lot of money. Insurance companies have to have to provide that rebuilding cost. They're losing money, the reinsurance where they, they get help with their, their liabilities. Insurance companies, it's very difficult. People are now shopping around for price rather than coverage on insurance. And that's what's going on in Florida because of the hurricanes, California because of the wildfires. So insurance companies are taking a harder look and they're starting to lose money as well costing consumers more money. Well, one bright spot in all of this is 401 Ks and more Americans are saving for their retirement, investing in their 401k plans. Now, obviously, we know more companies are going to have to do that under the law next year, but they're already doing. Uh according to Vanguard Group, more participation in those plans, it's reached an all time high. Well, it's super that they're doing that you can't retire just on social security. You need outside income, you need a pension plan. Uh I think it's a bad time. The federal government's requiring it, uh, and employee used to be, employees could opt out, but I'm glad now that it has to because the money is needed when you retire, which is great because that's 3% of their salary. All right, thanks so much, Marty. I appreciate it.

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