Written by Chase Majerus

The Fed Holds Rates

Hello, good day, kon’nichiwa, and bonjour. Welcome to This Week Today, a place where you can grab your drink of choice, plop down at your desk or a comfy chair and read the latest on everything in the mortgage, real estate, and financial industry.

Despite the fact that buying a home can be a rather long and arduous procedure, let me be clear that the wheels of news are constantly turning, so we are very proud and happy to see you here!

Today's Agenda:

A quick link to the article of your choice

Keychain: The Fed Holds Rates

Major Manor: The Eiffel Tower

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Financial Fitness

Keychain: Hurricane Help

Vlog: The Housing Market

Today's Agenda:

A Quick Link to the article of your choice

Keychain: The Fed Holds Rates

Major Manor: The Eiffel Tower

Social Space

Keychain: Hurricane Help

Vlog: The Housing Market

S1L Home Equity Loan

Use Your Home For The Best Future Gains

A home equity line of credit, or HELOC, lets you borrow against your home’s available equity. Applying for a HELOC with Synergy One Lending is fast and easy. Our application is fast, easy, and all online. If pre-approved, you’ll be instantly presented with your offer options.

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The Fed Holds Rates

The Federal Reserve recently decided not to change interest rates, maintaining them at a high level due to persistent inflation. This decision has disappointed those hoping for rate cuts to reduce borrowing costs for consumers.

Despite earlier expectations for multiple rate reductions in 2024, the market now anticipates only a minor decrease later in the year. High interest rates have caused an increase in the costs of credit cards, mortgages, and auto loans, placing financial strain on many households.

So what does that mean for you?

On the brighter side, the high rates mean that savings accounts and certificates of deposit are offering returns that can outpace inflation, benefiting savers.
Perhaps less desirable, for those with debt, experts suggest strategies like negotiating lower rates with creditors or consolidating debts to manage the financial burden.

Read about the interest rate hold here!

Major Manor

The Eiffel Tower

No this is not some gimmick. Gustave Eiffel, the guy who designed the Eiffel Tower (if you couldn’t tell), designed a private apartment for himself at the top of the Parisian landmark—and now a second one will be available on the first floor. Let’s check it out:

The apartment is directly above the main observation deck, intended as a personal retreat and space for scientific experimentation.
It became highly sought after by the Paris elite, but Eiffel refused to rent it out, preferring to keep it exclusive for notable scientific figures like Thomas Edison.
The cozy interior featured traditional decor, contrasting with the industrial aesthetic of the tower, and was accessible only via a small spiral staircase.
Today, the restored apartment is visible to the public through a glass divider on the observation deck, complete with wax figures of Eiffel and his notable guests.

Read about the apartment here!

S1 FinFit App

Digital financial assistant at your fingertips

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!

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Hurricane Help

Learn what you can do to prepare yourself for hurricane season

Making your home resistant to hurricanes is a costly but is a potentially valuable investment, especially as hurricanes intensify due to climate change. Let’s check out what you can do to better prepare yourself for hurricane season:

Practical steps to enhance hurricane resistance include assessing your home’s vulnerabilities, reinforcing roofs and windows, and securing doors, especially garage doors.
Upgrading with hurricane-resistant windows can cost between $1,128 and $10,293 nationally. Additional structural improvements, like reinforcing roof-to-wall connections, can significantly reduce damage from windstorms and save TONS in potential damages.
The 2024 hurricane season is expected to be extremely active, with 23 named storms anticipated, underscoring the urgency for homeowners in vulnerable areas to prepare.
When you upgrade your home, you not only protect it, but it may also lower insurance premiums.
Most important: Financial assistance through grants, loans, or tax credits may be available to help offset the costs of these improvements.

Read about the upcoming hurricane season here!

Vlog

The Housing Market

I’m sure we’ve all seen the big news in the housing market right? Inventory is up. Feels wrong to be talking about good news. Lemme smack you with some stats on this subject:

32.5% of all homes had their prices cut in 2024, compared to 29.2% in 2023 and only 19.2% in 2022. This smells like market adjustments in response to higher mortgage rates. Which in turn smells like fresh spring flowers. Kinda makes my eyes water but they look nice right?
The number of new listings in 2024 was 70,665, compared to 63,236 in 2023 and 72,009 in 2022. That smells like recovery from the 2023 record low of new listings. And it smells like churros. Amazing.
The number of total listings. This one is gonna blow your mind. The recent inventory bottom was in 2022 at 240,194. The inventory peak for 2023 was 569,898. And now we’re at like 556,291. For context, active listings for late April in 2015 were 1,071,283. Plug your nose, that smells insane.

Watch our video on this subject here!

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The Fed Holds Rates

Today's Agenda:

A quick link to the article of your choice

Today's Agenda:

A Quick Link to the article of your choice