Record-high home prices, Tesla's date of record: What today's news means for your money

Home prices hit a record high in July thanks to rising demand and low interest rates. Plus, Apple and Tesla share prices rise ahead of their stock splits.

Jody Johnston | Twenty20

Existing home sales and stock milestones are making news today. Here's how the headlines could affect your money:

Apple, Tesla share prices rise ahead of stock splits

Both Apple and Tesla reached milestones this week in the run up to their stock splits, a move that increases the number of shares outstanding and reduces the market price per share.

Tesla closed Thursday at a record high of $2,001.83 per share. Apple, meanwhile, just became the first U.S. company with a market value topping $2 trillion

Market-watchers expect more movement in both stocks Friday: It's the so-called record date for Tesla's stock split, while Apple's is Monday. Both companies will begin trading on a split-adjusted basis on August 31.

Home sale prices hit a record high

The combination of rising demand and fewer homes on the market pushed the median price of a home sold to a record high of $304,100 in July, according to the National Association of Realtors.

Sales of existing homes rose 24.7% in July compared with June. That's the biggest increase in the survey's 50-plus-year history.

If you're in the market for a home, keep in mind that interest rates, which are currently near record lows, can help you get more for your money

How to make your home-buying dream a reality

Video by Jason Armesto

How to get your money back after a coronavirus cancellation

Because of the pandemic, more than half of U.S. adults have canceled an activity they already paid for, like a vacation or an event such as a concert or sports game, according to Bankrate, and about half of those who had to cancel didn't get a full refund. 

To get your money back, experts recommend starting with the vendor who sold you your ticket and working your way up the customer service chain. No luck? See if your credit card issuer offers any protections or if your travel insurance policy has kicked in.

Words you've heard: Record date

Shareholders of an actively traded stock change all the time. So companies use a record date — also called a date of record — as a cutoff to determine which shareholders are eligible to receive distributions like additional shares, in the case of a stock split like Apple or Tesla, and dividends.

And although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.

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