Luxury Home Prices Jump 3x Faster Than Average

Luxury Home Prices Jump 3x Faster Than Average

Luxury housing continued to outperform the broader market in October, with prices up 5.5% — nearly triple the growth of non-luxury homes, according to Redfin. Strong equity markets and cash-heavy buyers are keeping high-end demand resilient, even as typical buyers remain constrained by current mortgage rates. Additional findings:

• Number of sales: Luxury up 2.9%. Non-luxury sales at 0.7%.

  • Both markets are still near decade-low October levels.

• Inventory: Luxury up 6.4%. Non-luxury up 9.5%

  • Highest October levels in 5 years, but still below pre-pandemic norms.

• Days on Market: Luxury up to 58…

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The Shutdown Is a Speed Bump, Not a Real Estate Deal Breaker!

The Shutdown Is a Speed Bump, Not a Real Estate Deal Breaker!

As the federal government shutdown drags on, there are some ripple effects in the housing market. Programs like FHA, VA, and USDA loans are severely delayed or halted altogether, leaving thousands of home transactions in limbo because crucial paperwork is stuck in bureaucratic gridlock. The complete suspension of USDA loans and the shutdown of the National Flood Insurance Program (NFIP) are exacerbating the issue, impacting an estimated 3,600 home closings daily, valued at $1.6 billion.

Here’s what you need to know:

• FHA, VA, and USDA loans may encounter significant processing delays.

• The National Flood Insurance Program (NFIP) is…

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Fed Rates DOWN - Mortgage Rates UP??

Fed Rates DOWN - Mortgage Rates UP??

The day after the Fed trimmed short-term rates by 25 basis points, mortgage rates did the opposite of what many expected. The 30-year fixed rate, which had been on a steady decline since hitting 7.08% in May and dropping to 6.13% on Tuesday, suddenly reversed course climbing back up to 6.37% yesterday, reported by Mortgage News Daily. Even with the bump, rates are still hovering near their lowest levels of the year. According to the Mortgage Bankers Association:

• Mortgage rates have held steady or fallen for 10 weeks.

• Mortgage applications increased 6 of the last 7 weeks.

• Mortgage applications jumped 29.7% last week compared to the week prior.

• …

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The Equity Effect: How Homeowners Use Gains to Upsize, Invest, or Refinance

The Equity Effect: How Homeowners Use Gains to Upsize, Invest, or Refinance

If you own a home in Westchester County chances are you’re sitting on a historic amount of equity. Since 1995, New York property values have surged by an incredible 284%, and in Westchester County, values jumped more than 30.8% just since March 2020. According to the June 2025 Mortgage Monitor from ICE Mortgage Technology, U.S. homeowners are accessing their equity at the highest levels since 2008. Here’s where that equity might be going:

• Helping Families Buy Homes: Bank of America reports that 49% of Gen Z buyers received help from family.

• Home Improvements: Many homeowners are choosing to renovate rather than move due to…

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Locked-In & Loaded: Homeowners Sitting on a Mountain of Equity

Locked-In & Loaded: Homeowners Sitting on a Mountain of Equity

According to new numbers from FHFA and BatchService via ResiClub, the national average loan-to-value ratio (LTV) sits at just 62.2%. That means the typical homeowner today owns nearly 40% of their home outright — a powerful financial position. 

For reference: If a home is worth $400,000, and the mortgage balance is $320,000, the LTV is 80% (20% equity). A lower LTV = stronger footing. Nationally, that figure has plummeted, with some states far below average.

Ralph’s Take

This aligns perfectly with what we’re seeing in Westchester. Many sellers aren’t under pressure — they’ve built up significant equity and are comfortably locked into ultra-low…

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Early Signs Buyer Demand Is Picking Up

Early Signs Buyer Demand Is Picking Up

More buyers are jumping back into the market – and that means it may be time for you to do the same thing. Mortgage applications are up, demand is growing, and home showings are increasing. Those are signs that serious buyers are active today.

If the right buyer walked through your door tomorrow, would you be ready?

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Get Rewarded for Renting

Get Rewarded for Renting

Rocket Mortgage has introduced a new initiative, Rocket Rent Rewards, aimed at assisting renters in transitioning to homeownership by offering up to $5,000 toward closing costs. This program allows eligible homebuyers to receive a credit equivalent to 10% of their total rent payments over the past year when they secure a mortgage through Rocket Mortgage.

• Eligibility: Renters who have consistently made payments over the last 12 months finance a home through Rocket Mortgage.

• Benefit Calculation: 10% of the total rent paid in the previous year, up to $5,000.

Ralph’s Take

This is a strategic way to make homeownership a little more accessible for renters. Consistently…

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Fed Hits Pause: No More Rate Cuts — for Now

Fed Hits Pause: No More Rate Cuts — for Now

In its latest policy meeting, the Federal Reserve opted to maintain the federal funds rate at 4.25% to 4.5%, pausing after three consecutive rate cuts. Fed Chair Jerome Powell emphasized there is no immediate need to adjust the policy stance, noting that while inflation has decreased from its 2022 peak, it remains slightly above the 2% target. This decision comes amid political pressures, with President Trump criticizing the Fed for not implementing deeper rate cuts to stimulate economic growth.

Ralph’s Take

The Fed’s decision to keep rates steady comes as no surprise, with little impact on the mortgage market. Its focus remains on the labor market, but inflation remains a…

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FHFA: 73% of Mortgages Still Under 5%

FHFA: 73% of Mortgages Still Under 5%

The highest level of mortgages over 6% since 2016.

While mortgage rates remain significantly higher than three years ago, the pool of borrowers with lower-rate loans is steadily eroding as most new homeowners are securing loans in the 6% to 7% range. The Federal Housing Finance Agency (FHFA) reports that 73.3% of U.S. mortgage holders now enjoy interest rates below 5.0%, a drop of 12.2 percentage points from the Q1 2022 high of 85.5%.

As borrowers adjust to the new normal, opportunities for refinancing may continue to emerge. A glimpse of this occurred in September 2024 when the average 30-year fixed rate briefly dipped to 6.11%. Savvy homeowners with higher-rate loans seized that…

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Housing Market Gains Momentum in 2024’s Final Push

Housing Market Gains Momentum in 2024’s Final Push

Redfin’s Homebuyer Demand Index is sitting near its highest level since September 2023. The index, which tracks seasonally adjusted metrics like tours and other services provided by Redfin agents, has risen 7% compared to the same period last year. Meanwhile, mortgage-purchase applications have risen 17% month-over-month, while pending sales are up 6.5% year-over-year.

Ralph’s Take

This comes as no surprise, as many buyers had postponed making significant decisions until after the election, resulting in a post-election surge in activities like property tours — a trend that persists. At the same time, buyers are adjusting to current mortgage rates, recognizing that a…

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