The silver tsunami, or the expected increase of homes on the market as baby boomers downsize, could be slowed by golden handcuffs.

The New York Times reported on Monday that by the end of last year, there was more than a 3% gap between rates on new home loans and the average fixed rate on existing mortgages.

About 70% of homeowners had mortgage rates of around 4%, according to The Times, which is significantly lower than the current market rate of about 7%.

Related: A ‘Silver Tsunami’ Is About to Upend the Housing Market, Says Analyst Who Accurately Predicted the 2008 Financial Crisis

The gap between the current rate and the average incentivizes homeowners to hold on to their properties, locking them in with “golden handcuffs” or a financial reason to stay.

The effect is noticeable: The Federal Housing Finance Agency found that the mortgage rate lock-in stopped 1.33 million home sales from happening from mid-2022 to the end of 2023, reducing home sales by 57%. The shortage of supply, combined with population growth outpacing construction, has led to a 7.2 million home shortage, per Realtor estimates.

Boomers, who were expected to start downsizing their living spaces as early as this year and flood the housing market with homes in a silver tsunami, are instead holding onto their larger residences.

“We just don’t want to pay that much in interest,” finance professor Bob Wood, 66, told CNBC. Wood and his wife are in the 10th year of a 3.125% 15-year fixed mortgage on their 5,000-square-foot Alabama home.

Another couple, both over 70 years of age and empty nesters, told CNN Business that they’re “staying put” in their 3,000 square-foot, 5-bedroom California home.

Related: Barbara Corcoran Says ‘Now Is the Best Time’ to Buy as Home Prices Will Soon Go ‘Through the Roof

A Realtor survey from last year showed that 82% of homeowners who wanted to sell their existing home and buy a new one felt locked into keeping their homes because of the difference in mortgage rates. More than half said they were waiting for rates to come down before selling.

“One positive aspect that came out of the pandemic was historically low mortgage rates – and many people took advantage of this opportunity to buy their first home, upgrade to a more expensive home, or refinance the home they were in,” said Realtor Chief Economist Danielle Hale in the report. “Unfortunately, this comes with a bit of a catch-22, as homeowners who locked in a 30-year fixed rate in the 2-3% range don’t necessarily want to give that up in exchange for a rate in the 6-7% range.”

The locked-in homeowners were also less willing to relocate for work, with Bloomberg highlighting last week that manager recruits based in the Midwest were turning down jobs in the South with salaries of $250,000, in part to hold on to their low-interest mortgages.

Related: Barbara Corcoran Sounds Off on NAR Settlement: ‘It’s a Scary Time for Real Estate Agents’

Microsoft’s creations have impacted more than 1 billion users worldwide, helping successful innovators across industries. You can currently pick up a comprehensive collection of popular products that are primed to boost your productivity for a surprisingly low price.

For a limited time, purchase the Ultimate 2019 Microsoft Bundle, complete with Office, Project, Visio and Windows 11 Pro, at only $79.99 (reg. $927) by using coupon code ENJOY20. Pick up this full package for only a fraction of the standard cost through April 16 at 11:59 p.m. Pacific.

Offering an AI assistant, touchscreen options and personalized settings, Microsoft Windows 11 Pro packs new potential into your operating system. Enjoy higher speeds and greater security with an OS that delivers access to DirectX 12 Ultimate and Microsoft Teams.

Meanwhile, get right to work with Microsoft Office Professional Plus 2019, equipped with these programs:

• Access for keeping track of databases.
• Excel for diving into data.
• OneNote for enhanced note-taking.
• Outlook for maximized email management.
• PowerPoint for visual presentations.
• Publisher for graphic design needs.
• Word for creating text documents.

Microsoft Project provides everything you need for a large professional undertaking, with tools featuring budget management, schedule development, task assignments and workload analysis. Gain a greater feel on what’s working well and what’s not by examining automated progress reports. Plus, it’s prepared to sync with Microsoft Office.

Last but not least, Vizio is excellent for creating visual diagrams, floor plans, flow charts and more. Access 250,000 shapes and an array of templates that can be easily customized with data from compatible programs such as Microsoft Excel.

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Improve your production capabilities while accomplishing more professionally and personally by purchasing the Ultimate 2019 Microsoft Bundle, loaded with Office, Project, Visio and Windows 11 Pro, for only $79.99 (reg. $927) by using coupon code ENJOY20 through April 16 at 11:59 p.m. Pacific.

StackSocial prices subject to change.

Scanning documents can sometimes be a way to streamline business operations while on the move. In today’s digital economy, being able to share, annotate, and download documents with and from people based around the globe is imperative for a wide range of professionals. Check out this limited-time springtime sale for savings on the best tool to help with your business scanning needs.

With code ENJOY20, you can save an extra 20% on a lifetime subscription to the iScanner App, bringing the rate down to just $31.99 (reg. $199). This deal runs through April 16 only.

iScanner turns your iOS smartphone into a reliable and high-end document scanner that can take images of contracts, documents, tickets, handwritten notes, and more and then convert them to popular file types like PDFs, JPGs, and DOCs to send and download elsewhere.

It allows you to edit and annotate documents with things like your signature, redaction blocks, and text changes. You can blur text, mark up pieces, and even adjust the color when fixing up a doc using iScanner. It also uses AI to auto-detect document borders, straighten pages, and support up to 20 different languages.

iScanner has been hailed as the top scanning app in the App Store, with more than 100 million downloads and a 4.8/5-star average rating. It’s also won a People’s Voice Award at the 27th Annual Webby Awards.

Through April 16 at 11:59 p.m. PT only, you can save an extra 20% on a lifetime subscription to the iScanner App for your iOS device with code ENJOY20, bringing the price down to just $31.99 (reg. $199).

StackSocial prices subject to change.

You may have top-notch products and a great team, but if customers can’t find your business, making money could be tough. When you’re drawing up your marketing strategy, make sure to pay attention to social media. Forbes reports that social media marketing could give returns up to 41%, but that doesn’t mean just posting any old picture.

If you want to really show off what’s going on in your business, try using an app that lets you create custom collages for everything from social posts to your landing pages. Pic Stitch Pro is easy to use and has a lifetime subscription available for new users for just $39.99.

Show off your business.

Rated 4.7/5 stars on the App Store, Pic Stitch is a versatile iOS collage maker that you don’t need to be a design pro to use. Just choose from over 400 collage layouts and start pulling in pictures or videos. If you want to add some extra personality, choose from 25 filter packs or 30 border types. That’s not to mention all the photo and video editing tools. Refine your photos on the fly without switching over to another app.

This app could be a great fit for full marketing teams or new business owners who do all the marketing on their own. Now you can create pro-quality collages that you can share on Facebook, Twitter, or other socials using Pic Stitch’s one-tap sharing.

Create collages, no college degree required.

You don’t have to be a design pro to level up your visuals on your landing pages and social media. Just use this simple collage maker to bring some life to your pictures.

For a limited time, get a lifetime subscription to Pic Stitch Pro Collage Editor for $39.99 (reg. $149).

StackSocial prices subject to change.

Moe than 700 million people worldwide play the guitar, and there are numerous enterprises associated with the skill. Of course, it’s also one of the most fun instruments to play and not very difficult to learn. If you’d like to have a business, or even a hobby, related to playing guitar then the 2024 Guitar Lessons Training Bundle can help you quickly learn to play guitar even if you are a complete novice.

You need no experience whatsoever to start with the Beginner Guitar Lessons Crash Course, a student favorite with an average rating of 4.6 stars out of 5. It assumes you know nothing at all about guitar, but you’ll get quickly up-to-speed without skipping anything important.

You can then follow up with Guitar Technique, another highly-rated course. It will teach you the most important techniques for playing guitar. This course is actually for students at any level because the lessons are easy to start off with, then become more difficult as you gradually advance. You’ll begin to develop your own style in this class.

Blues lovers will thoroughly enjoy the Easy Blues Guitar Crash Course. It’s another beginner course, but you’ll quickly learn to play real blues guitar and the basic terms used in this genre. One of the best, easiest and most fun ways of improving your soloing is to play children’s songs. So you should love the Children’s Songs for the Guitar course, in which you’ll learn 20 children’s songs.

Once you’re done with the previous courses, or if you’re already at an advanced skill level on guitar, then you’ll be ready to take the Guitar Jam Method course.

It’s for just the intermediate and advanced guitar students, focusing on teaching you how to jam without needing to play a specific song. Creative guitarists can really improve their jamming and soloing skills in this class.

The course also contains seven modules “…for the Curious Guitarist”. These are Fingerstyle, Ear Training, Songwriting, Guitar Lessons, Jazz, Blues and Christmas Songs.

All of the courses are presented by Dan Dresnok, who has taught guitar to tens of thousands of students online and in-person. He’s also been a performer and recording studio session guitarist, specializing in music theory, guitar, blues, jazz, rock and bluegrass.

Get The 2024 Guitar Lessons Training Bundle while it’s available for only $19.99 (reg. $480).

StackSocial prices subject to change.

Microsoft Project has a proven track record as the go-to software for teams handling projects of all complexities. Even older versions, still capable of meeting most teams’ needs, are available at discounted rates. Previously discounted more than $100, this 2021 license to Project Professional 2021 is now available at an even more reduced rate.

Through 11:59 p.m. PT on April 16, you can save an extra six dollars on Microsoft Project Professional 2021 for Windows with code ENJOY20, bringing the total down to $23.99 (reg. $249).

The program comes with a wide range of pre-built project management templates to help you operate in an organized manner that can be looked back on with accuracy after the fact. It supports users syncing projects built online with those created on local servers.

Getting to the specifics, Project Professional features a lot of helpful tools. It enables users to submit timesheets and even differentiate between project and non-project work. It has what-if scenario generators and visualization tools to represent complicated schedules that a team may need to understand for proper coordination.

This all adds up to a relatively stellar critical reputation for Microsoft Project Professional. It’s rated an average of 4.4/5 stars on Capterra and GetApp, for example.

Users get lifetime access on one PC, and updates are included.

Don’t forget that only through 11:59 p.m. PT on April 16 only, you can get an extra 20% savings on Microsoft Project Professional 2021 for Windows with code ENJOY20, bringing the total down to $23.99 (reg. $249).

StackSocial prices subject to change.

Imagine standing on the brink of the most transformative era in modern history, an era shaped by artificial intelligence, and failing to understand its impact on your business.

Ignoring the tidal wave of AI positions you squarely on the path to professional extinction. It opens the door for competitors to clone your success, for automation to replace your role and for your relevance in your industry to evaporate.

Think this is hyperbole? You haven’t been listening.

Watch this transformative video from bestselling author, Ben Angel, now — it will give you a crash course on the top risks entrepreneurs are walking straight into and the top skills they require to successfully navigate the change that is already underway.

Are you fully utilizing AI to drive your productivity and profits yet?

Download the free AI Success Kit (limited time only). And you’ll also get a free chapter from Ben’s brand new book, The Wolf Is at the Door: How to Survive and Thrive in an AI-Driven World.

The Securities and Exchange Commission (SEC) has cracked down on five registered investment advisers.

The SEC imposed fines on five entities for violating marketing rules in what would be the second wave of regulatory action in the space of a year.

SEC fines investment advisors

All five firms have held their hands up and agreed to settle the penalties levied on them by the government body. The combined fines come in at $200,000 and the SEC has also imposed other charges.

The SEC’s investigations and orders found that “the five firms advertised hypothetical performance to the general public on their websites without adopting and implementing policies and procedures reasonably designed to ensure that the hypothetical performance was relevant to the likely financial situation and investment objectives of each advertisement’s intended audience, as required by the Marketing Rule.”

The five firms charged are:

• GeaSphere LLC
• Bradesco Global Advisors Inc.
• Credicorp Capital Advisors LLC
• InSight Securities Inc.
• Monex Asset Management Inc.

Co-Chief of the SEC Enforcement Division’s Asset Management Unit. Corey Schuster would comment on the charges and the importance of the rules in place to safeguard consumers. He said “Today’s actions show that we will continue to employ targeted initiatives to ensure that investment advisers fully comply with their obligations under the rule. They also serve as a reminder of the benefits to firms that take corrective steps before being contacted by Commission staff.”

This is the second wave of marketing rule breaches that have been investigated by the SEC. The first wave was brought to light and nine advisory firms were hit with regulatory scrutiny in September 2023.

The order result would say “GeaSphere agreed to pay a civil penalty of $100,000. Bradesco, Credicorp, InSight, and Monex agreed to pay civil penalties ranging from $20,000 to $30,000, which reflected certain corrective steps taken by each of these firms before being contacted by the Commission staff.”

GeaSphere was hit with the heaviest penalties as they were found to have misled the orders of the SEC. The company made false statements in advertisements and could not make good on its commitments to consumers.

GeaSphere also violated other regulatory requirements, including by making false and misleading statements in advertisements, advertising misleading model performance, being unable to substantiate performance shown in its advertisements, and failing to enter into written agreements with people it compensated for endorsements.

The order further finds that GeaSphere committed recordkeeping and compliance violations and made misleading statements about its performance to a registered investment company client “that the misleading statements were included in the client’s prospectus filed with the Commission.”

Image: Ideogram.

The post SEC hits investment advisors for violation of marketing rules appeared first on Due.

Building an efficient team isn’t all about finding the most skilled people and driving them forward. Your team’s emotional well-being also has a major impact on productivity, and happier workers tend to be more productive than their unhappy counterparts.

If you want to make some small changes to improve morale around the office, fun breakroom amenities could be the way to go, starting with gaming gear for your interested employees. The Bionik Pro Kit+ is a set of gaming accessories for the Xbox Series X/S that puts multiple essential pieces of gaming gear into one package, so you don’t have to buy them all independently. Usually $89, you can get this gaming kit for just $39.99.

Play to work and work to play.

The Pro Kit is a comprehensive gaming accessory package for the Xbox Series X/S. It includes the CLR-50 over-ear gaming headsets, featuring powerful 50mm drivers, an integrated microphone, and RGB color functionality for added visual flair. If one of your workers needs a little time to unwind without hearing the sounds of the office, all they need to do is pop these on and let the work day fall away.

The dual-port controller charger has back-lit indicators and an adjustable USB power cord. Just keep in mind that the controllers themselves aren’t included. This convenient kit also comes with two 1200mAh high-capacity rechargeable batteries with custom covers compatible with Xbox Series X/S controllers.

Make sure the quality charging cable doesn’t wander to someone’s desk along with the cable extender. Both are included in this bundle.

Save on an Xbox Series X/S gaming kit.

See if a little fun boosts productivity around the office.

Get the Bionik® Pro Kit+ for Xbox Series X/S + Essential Gaming Accessories while it’s on sale for $39.99.

StackSocial prices subject to change.

Denver has announced that the state’s rate of inflation has hit its lowest in three years.

The news means the Mile-High City’s inflation has hit under 3% and well below the United States average. The Denver-Aurora-Lakewood area would see this financial boon due to outsourced food and gasoline prices.

Denver tops the low inflation charts

The news comes from the U.S. Bureau of Labor Statistics’ bi-monthly update.  The government institution has been tracking Denver’s inflation as far back as a little over a year ago Americans were struggling with the hefty price of things like food and gas.

At this time Denver was facing the worst inflation in the state’s recent history at around 5.4% compared to the national average of 3.7%.

The major contributing factors in the state’s turnaround are due to both food prices and how gasoline prices have plummeted in the state.

The report would say that “Over the last 12 months, the CPI-U advanced 2.8 percent. The index for all items less food and energy rose 3.4 percent over the year, and food prices rose 2.5 percent. Energy prices fell 5.4 percent, entirely the result of a decrease in the price of gasoline.”

Gasoline prices also took a positive turn in comparison to last year when a major provider of the state’s fuel supply would need to go offline. The shutdown of the Denver pipeline from Suncor Energy would see a spike in gas prices to 35% and 50% respectively throughout the year.

The gas prices now in Colorado sit at $3.07 per regular gallon of gas which is down by roughly 10% across the year according to the AAA. The BLS report would say on energy prices “From March 2023 to March 2024, energy prices fell 5.4 percent, entirely due to lower prices for gasoline (-20.6 percent). Prices paid for natural gas service rose, and the index for electricity advanced 4.9 percent during the past year.”

The report focused on the surrounding areas of Denver-Aurora-Lakewood, which are made up of Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park counties in Colorado.

Image: Ideogram.

The post Denver inflation hits below the national rate appeared first on Due.