Educating you on affordable, accessible, and achievable homeownership. Follow for tweets on 0% down programs and the housing market. @neighborsbank NMLS 1106948
Glenwood Springs, CO USA
Joined April 2026
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I don't think the housing market is frozen.
I think it's creating new entry-level buyers.
Every escrow analysis that jumps because of rising taxes and insurance creates another homeowner looking for something cheaper.
Those homeowners aren't disappearing.
They're competing with first-time buyers for the same shrinking pool of starter homes.
That's the real bottleneck. See comments.
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Same $350k loan, principal and interest only: at 6.29% it's about $2,164 a month. At 7.42% it's about $2,428. That's roughly $264 more every month, which is why so many buyers feel priced out.
The average 30-year fixed mortgage rate today: 7.42%
Same day a year ago: 6.29%
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10-year Treasury yield today: 5.11%
Mortgage spread today: 231 bps
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Rates are down four weeks in a row to 7.11% (Freddie Mac), and NAR says inventory is at a 5.1 month supply, so buyers have more options. Not cheap, but you can get a real payment number now instead of guessing from headlines.
I know everyone is focused on Nvidia, but the U.S. housing market is in a dramatic slump.
Home sales in October fell to the lowest since 2010
(This is sales of existing homes).
Home sales and home building are drying up as mortgage rates remain above 7% (and home prices remain 50% above 2020 levels). There's unlikely to be much relief anytime soon.
This is a big pain point for many young Americans. Spain is currently experiencing strikes and riots over housing unaffordability. It's a warning to the US.
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A typical home took 31 days to go under contract in October, two days longer than a year ago, per Zillow.
A house that's sat for a month isn't a bad house. It's a seller who's had time to think. Ask your agent how long it's been listed before you make an offer.
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Low sales isn't the same as a crash. Fewer people are moving because of rates and prices, not because homes are being lost like in 2008. NAR says inventory is a 5.1 month supply and the median price is up 0.4% from last year. Flat prices and more choices for buyers.
BREAKING: U.S. home sales have dropped to their lowest level in 16 years.
We’re seeing levels not seen since the aftermath of the 2008 housing crash.
Existing-home sales fell 5.5% in October and 8.8% from a year ago, their lowest level since August 2010.
America’s housing market is getting worse.
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A cheaper condo isn't always cheaper. Before you fall for one, ask about the HOA fee, any special assessments coming up, and the insurance quote. Lenders count HOA dues in your monthly payment, so they change what you qualify for.
There are more than twice as many condo sellers as buyers right now. 🏠
As of September, there were 123% more condo sellers than buyers in the US, the biggest gap Redfin has recorded in 13 years.
Buyers are wary of rising HOA fees, special assessments, and insurance costs, and higher mortgage rates are making it harder for first-time buyers.
Read more: finance.yahoo.com/real-estat…
ALT Exterior view of a modern apartment building with several balconies. The text on the image reads, "Cooling Market: Condo sellers outnumber buyers by more than 2-to-1." The image features a logo for Yahoo! Finance in the corner.
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55% of veteran buyers used a VA loan last year, and a lot of them don't realize the benefit isn't one and done. You can use it more than once. How depends on your remaining entitlement, so ask a VA lender before you assume it's used up.
55% of veteran homebuyers used VA financing in 2025, and eligibility is not limited to one use:
housingwire.com/articles/va-…
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An October executive order asks FHFA to pilot letting borrowers drop mortgage premiums based on their home's current market value.
It's a pilot, not a rule you can use today. Still, ask any lender before you commit: how does mortgage insurance come off on this loan, and when?
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Veterans Day. If you served and haven't checked your VA loan eligibility, it's worth finding out.
VA loans can mean no down payment and no monthly mortgage insurance. A lender can often pull your Certificate of Eligibility for you. Thank you for your service.
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Nobody tells first-time buyers this: your lender will ask where every big deposit in your bank statements came from.
Birthday money, a side gig, a Venmo from your sister. Keep a record now, before you apply, and the paperwork gets way easier.
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A year ago the average 30-year rate was 6.22%. This week it's 7.18%.
Higher rates really compress what's affordable. I won't pretend otherwise.
But rate is one lever. Price, loan type, assistance programs, and seller credits all change your payment too. #MortgageRates
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Rates can jump or drop on a single day's news. If you're shopping, ask your lender how a rate lock works so a headline doesn't catch you off guard.
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How much do you need to make to buy a $300k house?
With 20% down at 7%, the full payment with taxes and insurance comes to about $1,992 a month.
Most lenders want your monthly income somewhere between $3,984 and $4,980 for that payment.
Part 2 is 3.5% down.
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USDA rural loans just got a little more flexible. Real estate commissions no longer count toward the 6% limit on seller concessions, so a seller may be able to put more toward a buyer's closing costs. Worth asking your lender if your target home is in an eligible area.
NEW TODAY: The USDA has changed its mortgage rules for eligible rural homebuyers.
Real estate commissions no longer count toward the program’s 6% seller-concession limit.
That could leave more room for sellers to help buyers cover closing costs.
The new rule takes effect TODAY.
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What's the #1 thing keeping you from buying a home right now?
Rates, down payment, credit, finding a house, or something I didn't list? Tell me below. I'll reply to as many as I can.
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If a builder offers to buy your rate down, go for it, but ask what the deal looks like with a lower price instead. Same money, different result. Rate helps your payment, price helps you if you sell in a few years.
The craziest part of today's housing market?
Builders would rather spend $50,000 buying down your mortgage...
Than cut the sticker price.
That tells you everything you need to know about where the real pressure is.
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Zillow says homes going under contract in October fell almost 17% from last year. Fewer buyers are out there.
If you're ready to buy, that's less competition for the same house. If you're not ready, you're not missing a stampede either.
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More listings and slower sales means you have a little more room to negotiate. Seller credits toward closing costs can be an easier ask than a lower price. Worth asking your agent about.
🇺🇸 HOMES ARE PILING UP ON THE MARKET, BUT SELLERS STILL AREN'T CUTTING PRICES
Active listings hit 183,500 in October, up +7.4% from a year ago, the fastest growth in 8 months, per Realtor.
But only about 20% of sellers cut prices, roughly the same as last year.
Meanwhile, buyers are pulling back ... Pending home sales fell -16.8% from a year ago, the biggest drop since August 2023, per Zillow
(Source CNBC)
ALT Photo Credit: David Paul Morris | Bloomberg | Getty Images
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"I'll wait until after the holidays to start."
You don't have to buy now to start now.
Pre-approval, a credit check-up, and a look at down payment assistance can all happen in November, with no house in sight.
Then January is a decision, not a scramble.
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Think USDA is only for farmland? Check the address.
Go to neighborsbank.com/usda-loans…, enter the home's address, and see if it qualifies.
USDA can mean 0% down. Income limits apply, and plenty of suburban areas are eligible.
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