12.02.24

Written by Chase Majerus

Holiday Hustle

Welcome to a short, sweet edition of This Week Today! Let’s be real, since our last newsletter, life hasn’t been exactly brimming with headline-worthy drama. Between the Thanksgiving food comas and awkward family debates about interest rates (just us?), the news cycle took a bit of a breather.

But don’t worry, the holiday hustle is just getting started. Travel stats, Black Friday spending numbers, and all the juicy details about how many of us impulse-bought way too many air fryers won’t drop for a few days. So, for now, sit back, digest those leftovers, and enjoy a light serving of mortgage and real estate news to keep you in the know.

We promise we’ll bring the heat next week when the numbers roll in!

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Today's Agenda:

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November Fed Minutes

The Federal Reserve’s meeting minutes, released Tuesday the 26th, offer insight into their views on inflation, interest rates, and the economy’s overall health. Here’s a quick breakdown of what they discussed and what it could mean for you:

  • Federal Reserve officials are optimistic that inflation is improving, and the job market remains strong, making it possible to gradually lower interest rates, though they haven’t decided exactly when or by how much
  • The Fed’s November meeting notes show they’re feeling better about inflation, even though it’s still slightly above their goal of 2%
  • The Fed decided to lower the benchmark borrowing rate by a quarter percentage point to a target range of 4.5%-4.75%, with the possibility of another cut in December, though there’s still some uncertainty about what’s next
  • Officials are finding it tricky to figure out the “neutral” interest rate, the level that balances the economy without slowing it down or speeding it up, and are unsure how future policies might affect inflation

The job market is holding up well, with few layoffs, and inflation is expected to ease further as rising rent costs slow down – Read More Here

Social Space

Our Top Social Links of the week

Video:
The bad spirits in the house – Watch here!

Video:
The worst fireplace “redo” – Watch here!

Read:
Map: Disaster risk by zip code using home insurance estimates – Read here!

Read:
Young people LOCKED OUT of homeownership – Read here!

S1 FinFit App

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Property Brothers Can’t Fix This Flip

The Property Brothers, Drew and Jonathan Scott, are just as stressed about the housing market as the rest of us, and if HGTV’s experts are worried, you know it’s serious.

Home prices are soaring, mortgage rates keep climbing, and there aren’t nearly enough houses to go around—currently, the U.S. is 4.5 million homes short of a healthy market. The brothers fear that if things don’t change, in 20 years our kids will be stuck renting forever or hoping to inherit a house just to afford one.

While they acknowledge that lenders might introduce new loan options to help buyers, Jonathan warns these deals could come with strings, like stretching mortgages so long you’d still be paying them off in your retirement. Even though lower interest rates would help, they argue that fixing the inventory shortage is the real key to affordability.

Bottom line: the housing market is a mess, and even the Property Brothers can’t DIY a solution—but at least they’re here to vent with us. – Read more here

Story Time

r/Thanksgiving

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Look, I told you the news was slim. Since Thanksgiving is all about gathering at home (whether it’s yours or someone else’s), I scoured the internet for some of the best home-related stories this holiday has to offer, here are a few of my favorites!

  • “We get that turkey shaped butter every year and one year my youngest referred to it as his new pet, for some reason. At the end of the meal, as we were clearing the table, my stepdad’s eyes got huge and he started pointing and stammering “the pet! THE PET!” …because our dog, our actual pet, had just casually walked past the table and ate the entire damn butter turkey in one bite before anyone still at the table could stop him. (He was fine.) So now everyone always asks if I have acquired the pet sacrifice.” – crickwooder
  • “My mom always had to do all the cooking, and she was known for her pumpkin chiffon pie. One year it just wasn’t setting properly so before dinner she popped it in the freezer for a few minutes and … forgot about it. Dessert time came and the search for the pie ended at the freezer and from then on we always teased her about whether she would make her famous pumpkin Popsicle this year. RIP Mom, I miss you.” – brookish
  • “My husband and I were responsible for the turkey one year. We saw a Cornish game hen near the turkeys. We got and cooked both. We had 2 large roasting pans. On turkey day we brought in both pans. We apologized profusely to his mother. We explained that something must of happened in the oven and the bird had shrunk. She was stunned at first and said she’d never seen that before- but it would be ok. We have plenty of sides. We whipped open the other pan to reveal the 23 lbs bird. Mom was so pissed she fell for it.” – gelfie68
  • “We have a saying in my family “Save the neck for pie!” It means you eat until you are full up until your clavicle but save the neck area for pie. For years my husband would go in the kitchen and look at all the desserts and choose a piece of something. Until one year my mom says “save the neck for pie” and my husband says “Where the heck is this turkey neck pie? I look every year and I can never find it.” We all busted out laughing. I’ve always been tempted to make a turkey neck pie for him, maybe this year.”

hank you for reading! We hope you have a wonderful day! See you next week!

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