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This past summer, much of North America was warned about an elevated risk of power outages. While it seems that bullet was largely dodged, even the threat of blackouts might send you looking for a safety net, especially if losing power will be more of a risk to you than most people.

Whether you need a fridge running to keep medicine cold or you just don’t want to deal with the interruption, you might turn to a backup generator (or a backup battery) to get you through a power outage. Generators aren’t a one-size-fits-all solution, so you’ll want to have a clear understanding of your needs and the features of a generator that best fit them. Below we have the important questions and answers you’ll want to consider as well as an overview of the safety considerations.

If you’re looking for other options, consider the advancements in home backup batteries. When paired with solar panelsthey can keep the lights on for days.

What is a home generator?

A generator is an appliance that can supply electricity for your home, your business or when you’re on the go. Despite what the name implies, generators don’t actually create electricity. Instead, they take another form of energy and convert it into electricity.

Generators can be used to provide backup power to your home or business when there’s an outage due to inclement weather, downed power lines or any other hazards. They can also be used to provide power

While a closely followed mortgage rate was down, today rates had no specific trajectory. While 15-year fixed-rate mortgages made gains, interest rates on 30-year fixed-rate mortgages dwindled. At the same time, average rates for 5/1 adjustable-rate mortgages were raised.

Mortgage rates have been increasing consistently since the start of 2022, following in the wake of a series of interest hikes by the Federal Reserve. Interest rates are dynamic and unpredictable — at least on a daily or weekly basis — and they respond to a wide variety of economic factors. But the Fed’s actions, designed to mitigate the high rate of inflation, are having an unmistakeable impact on mortgage rates.

If you’re looking to buy a home, trying to time the market may not play to your favor. If inflation continues to increase and rates continue to climb, it will likely translate to higher interest rates — and steeper monthly mortgage payments. As such, you may have better luck locking in a lower mortgage interest rate sooner rather than later. No matter when you decide to shop for a home, it’s always a good idea to seek out multiple lenders to compare rates and fees to find the best mortgage for your specific situation.

30-year fixed-rate mortgages

The average 30-year fixed mortgage interest rate is 7.04%, which is a decline of 2 basis points as seven days ago. (A basis point is equivalent to 0.01%.) Thirty-year fixed mortgages are the most frequently used loan terms. A 30-year fixed rate mortgage