Written by Chase Majerus
Welcome to This Week Today, your quick hit of what’s actually happening in housing and the economy. Economists are arguing over whether the Fed will cut rates again in December, with 69% expecting another 25-point drop and some even whispering “maybe 50.” We can’t predict the future, but we can break down what’s happening right now… so let’s get to it!
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(from RealEstateNews.com)
After nearly two years at the wheel, outgoing NAR (National Association of REALTORS®) president Kevin Sears wrapped up his marathon 679-day term with a wave of ovations and a vibe that basically said: “We survived the storm… now let’s actually rebuild.”
Sears’ tenure started in chaos. Back-to-back leadership resignations, a bruised reputation, and a membership that needed convincing the ship wasn’t sinking. But according to CEO Nykia Wright, he spent those two years doing the unglamorous stuff: balancing budgets, avoiding bankruptcy, rebuilding trust, and dragging a broken organization toward a three-year strategic plan.
The meeting also set the stage for NAR’s next chapter: Kevin Brown becomes 2026 president, referral-fee transparency barely failed to pass (66.3% vs the required two-thirds), and dues will stay flat at $156 even as NAR budgets for fewer members in 2026. Oh, and RPAC (Realtors Political Action Committee) is at 86% of its $45.5M goal, so the advocacy engine is still running hot.
So why am I telling you all this? And if you’re not a REALTOR®, why does any of it matter?
Basically… a healthier NAR = a healthier housing ecosystem, and that touches everyone from lenders to agents to the people actually trying to buy a home.
(from CNBC.com)
Mark Wahlberg is officially becoming a recurring character on TWT — the guy’s been featured here a few times, and now he’s back with a brand-new $37 million fully-furnished mansion in Delray Beach, Florida.
We could tell you about the private gym, the resort-style pool, the ridiculous entertaining spaces, or the fact that this place has been sold four times in five years for a combined $106 million… but honestly, you should just see it for yourself.
Even more wild? The home has more than doubled in value since 2020, and CNBC’s Ray Parisi goes inside with broker Senada Adzem to break down why this thing skyrocketed so fast.
(from FOXBusiness.com)
A new Zillow + Thumbtack analysis shows the “hidden costs” of owning a home have quietly jumped to nearly $16,000 a year — rising faster than household incomes. On average, homeowners now spend $10,946 on maintenance, $2,003 on insurance, and $3,030 on property taxes. Coastal metros? Brutal. New York sits at $24,381 a year and San Francisco is at $22,781.
The biggest shock: insurance costs have surged 48% since 2020, with Florida cities seeing spikes of 68%–72%, and places like New Orleans (+79%), Sacramento (+59%), and Atlanta (+58%) also getting crushed. Zillow economist Kara Ng says insurance costs are rising “nearly twice as fast as homeowner incomes,” adding even more pressure to affordability.
With Treasury Secretary Scott Bessent calling housing affordability one of his “big projects for the fall,” it’s clear this problem isn’t going away overnight.
The takeaway: If you’re buying or owning in 2025–26, you have to budget for these not-so-obvious expenses. And that’s exactly why tools like S1 FinFit exist — to help you stay financially fit, plan ahead, and feel confident navigating rising costs as a homeowner.
S1 FinFit is a FREE app that provides a roadmap to help you reach your financial and lifestyle goals, no matter how big or small! Free credit monitoring with alerts, set financial goals, create budgets, and keep track of your spending to see where your money is going.
Download the app on the appropriate app store with the links below!
(from NationalMortgageNews.com)
Two big housing reports just dropped, one on foreclosures, one on mortgage delinquencies, and together they paint a picture of a market that isn’t crashing… but definitely feeling the pressure of high costs.
Foreclosures:
October marked the eighth straight month of increases. Total filings hit 36,000 (up 3% from September, 19% from last year). We’re still far below 2008-era peaks, but the trend is moving back toward pre-pandemic norms as homeowners face higher rates, insurance, taxes, and overall cost of living.
FHA-heavy states like Florida, South Carolina, Illinois, Delaware, and Nevada posted the worst foreclosure rates.
Delinquencies:
Mortgage delinquencies ticked up too, rising to 3.99% of all loans. The biggest trouble spot? FHA borrowers. The seriously delinquent FHA rate (90+ days late or in foreclosure) is up almost 50 basis points in a year, while conventional and VA loans stayed mostly flat.
Because rising foreclosures and delinquencies are a signal that affordability and borrower stress are building, and that makes the entire housing-finance chain riskier for lenders, agents and consumers alike. Even though it’s no 2008 all-over-again scenario, the pressure is mounting and staying alert now means making smarter moves later. Experts at the MBA, ICE, and Fitch all say the same thing: expect delinquencies to rise in 2026.
Read more here and here
Berkshire exits D.R. Horton, adds to Lennar
(from Housingwire.com)
Oh look! Berkshire Hathaway and Warren Buffett made it onto TWT two weeks in a row!
This time, the housing headline is simple but meaningful: Berkshire completely sold out of “America’s Largest Home Builder” D.R. Horton (~1.485M shares / ~$191.5M) and added more Lennar (~7.232M shares / ~$910M) in Q3 2025. Buffett didn’t “leave housing”… he reshaped his exposure.
Why? Because the 2025 market is “soft, incentive-heavy, and unforgiving of error.” With new-home inventory stuck above 9 months’ supply, builders using incentives at 5%+ of home value, and confidence staying in the low 30s, Berkshire is leaning toward the operator best built for a tougher 24–36 months.
Lennar has more “land optionality,” tighter systems, and has been quicker to manage pace, price, and incentives, including loads that climbed to 13% of home value in some communities. As the article puts it, the move isn’t “Horton bad, Lennar good,” it’s: “What wins now?”
So for those investors out there, Berkshire thinks Lennar is better positioned to handle a longer, choppier stretch, and that’s a signal for builders, lenders, and anyone watching where smart money sees stability.
Major news from Fannie Mae!
Starting November 16, they’re eliminating the minimum 620 credit score requirement for loans run through Desktop Underwriter (DU). The industry is split, some love the expanded access, some worry about risk, but everyone agrees this is a huge shift.
And before we go further: our very own JJ Jerotz made an incredible video breaking this down. Watch it. JJ Jerotz made an incredible video breaking this down. Watch it. JJ, you make us all feel smarter.
What’s actually changing? According to Selling Guide Bulletin SEL-2025-09, DU will no longer use a hard 620 cutoff. Instead, it will approve or deny loans based on a full risk assessment of the borrower’s entire profile, not just one credit score.
This aligns Fannie Mae with Freddie Mac, which already made a similar move.
Why they’re doing it? Fannie Mae says traditional credit models can unfairly block responsible borrowers, especially people with:
Who benefits most?:
Why some are nervous:
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