The Marcelle Minute 12.22.25

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 confusing jargon, doom-scrolling headlines, or charts that need a finance degree to decode.

This week we’re covering:

• What’s actually happening right now in NYC, Long Island, and the tri-state area

• How those shifts affect your buying power and timing

• Practical tips you can use immediately

• And one real-estate term to add to your vocabulary toolbox

Word of the Day: Eligibility

In the 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.

That distinction matters more right now than most people realize.

Market Breakdown — NYC & Tri-State Right Now

Mortgage rates are still hanging out in that “uncomfortable but not insane” range. As of this week, 30-year fixed rates are sitting in the low-to-mid 6s, according to the latest Freddie Mac data. Rates have been relatively flat—not dropping fast, but also not spiking.

Here’s the part people miss:

Even with rates where they are, buyer activity has picked up. It didn’t disappear. It paused. And now many buyers are realizing that waiting indefinitely for the “perfect” rate comes with its own cost—especially as rents stay high.

In New York City, average home values are hovering around $800,000, up roughly 3% year-over-year, with homes going pending in about 60 days. That tells us prices aren’t falling off a cliff—but they’re also not sprinting away from you. Think steady incline, not roller coaster.

On Long Island, the story is similar but tighter. Median prices in both Nassau and Suffolk counties continue to climb while inventory remains limited. Fewer homes are available, but buyers who are prepared are still getting deals done—especially when they’re flexible on exact location or property type.

Now for a big policy shift that matters a lot:

Fannie Mae recently removed its old hard minimum FICO score requirement for loans run through Desktop Underwriter. Instead of an automatic cutoff (like “no loan below 620”), the system now looks at the entire risk picture—income stability, recent payment history, debts, assets, and more.

What Does This Mean?

If your credit isn’t perfect, you may have more options now than you did even a month ago.

Strong income, consistent employment, clean recent payment history, and manageable debts can help offset a less-than-sparkly score. Eligibility is becoming more nuanced—and that’s good news for real people with real lives.

Homeownership Tips of the Week

Stop self-rejecting over credit.

With Fannie Mae shifting away from a strict minimum FICO score, guessing you’re “not ready” is outdated. A real review today may look very different from the answer you assumed six months ago.

Shop where the numbers work, not just where the vibes are.

Across New York State, prices are up about 3–4% year-over-year, but inventory is slowly improving in certain pockets. Sometimes one train stop, one town over on Long Island, or one school district change turns an impossible budget into a workable one.

Plan for realistic timelines if you’re using FHA, VA, or USDA.

Recent government slowdowns created backlogs across federal housing programs and flood insurance. Things are moving again—but closings may take longer. That’s not a deal-breaker if expectations are set correctly from day one.

If you’re a first responder, teacher, nurse, transit or union worker, construction pro, or 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 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 go deeper on this week’s market moves.