The Marcelle Minute 11/18/25
The Marcelle Minute
A short, weekly update created for first-time homebuyers and current homeowners. It’s designed to give you the most important housing market news in just a few minutes—without the confusing jargon or overwhelming charts.
Current market trends in NYC and the tri-state area (rates, rents, sales).
Actionable tips for buying, owning, or refinancing a home.
Practical homeowner know-how—from budgeting to maintenance hacks.
A quick “Word of the Week” so you learn real estate terms step by step.
Word of the Day: Eligibility
In mortgage world, eligibility simply means whether a loan program will say “yes” to you based on your credit, income, debts, and the property you’re buying.
You don’t need to be perfect to be eligible — you just need to fit inside the guidelines for at least one loan lane.
Market Breakdown – NYC & Tri-State Right Now
Mortgage rates are still hanging out in that “uncomfortable but not insane” zone. As of this week, 30-year fixed rates are hovering in the low-to-mid 6s, after staying basically flat over the last Freddie Mac report.
Here’s the twist: even with higher rates, buyer activity has ticked up, not collapsed. A lot of people paused earlier in the year and are now realizing… life isn’t waiting for the “perfect” rate.
In New York City, the average home value is sitting around $800K, up about 3% over the past year, with homes going pending in about two months.
That means prices aren’t falling off a cliff, but they’re not racing away from you either. Think “slow climb,” not “roller coaster.”
On top of that, Fannie Mae just made a big move: they’re removing their old hard minimum FICO score requirement for loans run through Desktop Underwriter. Instead of a fixed score cutoff (like 620), they’re looking at the full risk picture inside their system.
What Does This Mean?
If your credit isn’t perfect, you might have more options than you did a month ago.
Strong income, clean recent payment history, and lower debts can help offset a less-than-sparkly score.
Homeownership Tips of the Week
Stop self-rejecting over credit.
With Fannie Mae shifting away from a strict minimum FICO score, it’s more important than ever to get anactualreview instead of assuming you’re disqualified. A pre-approval today may look very different from one you got (or avoided) six months ago.
Aim your home search where the numbers work, not just where the ‘vibes’ are.
Across New York State, prices are up about 3–4% year-over-year and inventory is slowly increasing. That’s giving buyers a bit more breathing room in some pockets, especially outside the highest-demand neighborhoods.
Sometimes moving one train stop, one school district, or one town over on Long Island turns an impossible budget into a realistic one.
Plan around government loan backlogs if you’re using FHA, VA, or USDA.
The recent government shutdown slowed down a lot of federal housing programs — FHA, VA, USDA, and even new flood insurance policies. Those programs are ramping back up, but there’s abacklog that can add weeks to closing timelines.
You don’t have to panic — you just need a realistic contract timeline and a loan officer who actually explains what’s happening.
If you’re a first responder, teacher, nurse, transit or union worker, construction pro, or any blue-collar hero, this is exactly the kind of market where strategy beats stress.
Get a real game plan, not TikTok rumors.
Head to keysforcommunityheroes.com to start your pre-approval, or forward this email to a coworker who keeps saying “next year” but hasn’t actually run the numbers yet.
Let’s turn “eligible” into “approved” — and “approved” into keys in your hand. 🔑
Check out my newest YouTube video below to learn more.
