Written by Chase Majerus
Welcome to This Week Today! Your quick and entertaining guide to what’s happening in housing, mortgages, and finance. We break down the big stuff—like why inflation won’t quit, homebuilders going on a shopping spree, and the looming “gray tsunami”—all in a way that’s actually fun to read. Let’s get smarter (and maybe even laugh a little) while staying ahead in today’s market!
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.
Housing costs are still climbing. And that keeps inflation higher than the Federal Reserve would like.
Shelter costs, the biggest Consumer Price Index (CPI) factor, jumped by 0.4% month-over-month in October, double September’s increase, and make up over half of the monthly rise in inflation.
Why is this happening?
The way rent data is collected by the Bureau of Labor Statistics (BLS) means there’s a bit of a delay, so even though the wider market may see a rent slowdown, it doesn’t immediately show up here. Economist Josh Jamner suggests that, despite this noise, shelter inflation is expected to trend lower in the coming months due to market pricing and these data lags.
And with housing costs still high, renters and potential buyers are feeling the pinch. Economists like Nationwide’s Kathy Bostjancic agree that slowing down shelter costs is critical to hitting the Fed’s 2% inflation target. In the meantime, the pressure remains on consumers, and anyone looking to make some near-term moves in the housing market should stay informed as conditions continue to remain in flux.
Here’s the (not actual) Webster Dictionary definition.
Gray/Silver Tsunami (noun): A demographic trend describing the rapid increase in the elderly population, especially as the baby boomer generation reaches retirement age, leading to significant impacts on healthcare, social services, and the economy. This “wave” of aging individuals is expected to strain resources due to higher demand for medical care, a smaller workforce, and increased pressure on pension and social support systems.
Got it? Let’s talk about the newest Gray Tsunami: South Carolina.
In the Palmetto State, many retirees are choosing to age in place, keeping their homes and reducing available housing inventory, a trend that limits housing options for younger buyers. And, shocker, analysts suggest home sales won’t happen, as most older homeowners are staying put.
This shift means local governments must address infrastructure and social services to support an aging population. What better way to assist these people than with the financial education and fitness they so desperately need.
Retirees and aging homeowners need strategies to manage healthcare expenses, housing costs, and financial stability over the long term, while younger generations benefit from understanding the future limitations in housing options and planning accordingly.
There are a ton of personal financial fitness apps out there, but none better suited for a situation like this but S1 FinFit.
We won’t even try to sell you any more on it. Just check out the website. Or just download the app and tinker with it. It’s free to use and its specifically designed for people to aid in all things mortgage readiness.
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!
Funny we should mention inflation! Because Fed Chair, Jerome Powell said, “The economy is not sending any signals that we need to be in a hurry to lower rates,” during a speech last Thursday to business leaders in Dallas.
This is the modern-day Goldilocks here… not too fast, not too slow, juuussstttt right. Especially while the Fed feels the economy is solid and in no rush to cut rates and possibly mess things up.
Before this quote, the markets anticipated another rate cut in December. And even though Powell highlighted the importance of moving neither too quickly nor too slowly to maintain economic stability, traders reacted to his cautious tone with lower stock prices and higher Treasury yields.
asically: his non-committal vibe to a December rate cut made traders freak out. Stocks dipped, yields spiked, and it left everyone wondering if the Fed is playing 4-dimensional chess or just winging it like Captain Jerome Sparrow.
SHOPPING SPREE
Homebuilders are on a buying spree, snapping up smaller firms as demand for housing remains strong—truly thrilling news, right?
It is though! Large builders now control half of the market, aided by cheaper borrowing costs and an uptick in acquisitions. Japanese companies are also joining in, buying U.S. builders to tap into higher growth opportunities and bringing advanced building techniques that might just make homes more affordable.
With new efficiency measures like 3D modeling and factory-prepped materials, they’re aiming to cut waste. As market conditions shift, big builders look poised for even more “exciting” growth next year.
Why does this matter to you?
Simple: fewer small builders means less competition, so housing prices could stay high, but big builders might also bring in tech that makes homes cheaper someday. So yeah, it’s either bad news for your wallet or maybe, eventually, good news… once you’re off the toilet.
When most mortgage companies experience a surge in volume, say, a whopping 60% increase (like Synergy One Lending), it tends to bog down everything. Processing, underwriting, funding… they all feel the strain, causing frustrating delays across the board.
Those extra 4 to 10 days can be the difference between locking in that dream home or watching it slip away. But here’s where Synergy One Lending stands apart.
According to Synergy One Lending VP of Production, Travis Newton (or you can follow here or here!), even with a massive spike in volume, our turn times barely changed, by less than a single day!
We embrace technology, refine our processes continually, and stay laser-focused on creating a seamless experience for our clients. While other companies are scrambling to keep up, our team remains steady and reliable, ensuring your mortgage journey is as smooth as possible, no matter what the market throws at us.
This is why choosing the right partner for your mortgage matters.
Working with a company that values innovation, stability, and client satisfaction translates to real results for you. It’s not just about fast processing; it’s about providing peace of mind and being there with you, every step of the way.
So, when you’re ready to make that big move, align yourself with a team that’s truly in your corner, Synergy One Lending. Because a mortgage partner who’s prepared, proactive, and always ready to go to bat for you? That’s the kind of team you deserve!
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