MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 9/8/2025 – 9/15/2025

Did You Know?

DID YOU KNOW?

* More inventory, more buyers? Yup!  Canadian home sales rose for a 5th straight month as a buildup of listings lured buyers back to the market. The number of homes sold rose 1.1% in August from the previous month, bringing the market’s rebound to 12.5% since March. (Bloomberg)

* Are condo’s money-laundering machines? Condo markets don’t have specific laws for preventing money laundering, but are subject to federal and state anti-money laundering regulations, including the Bank Secrecy Act, which requires financial institutions to verify customer identities and report suspicious transactions, and real estate professionals to follow due diligence procedures. However, the complexity of these transactions, potential use of shell companies, and high-value cash transactions create significant risks that are challenging to fully prevent.

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage backed by Freddie Mac plunged by 15 bps from the previous week to 6.35% as of September 11th, their lowest level since early-October. The decline aligned with plunging long-dated Treasury yields as mounting evidence of a slowing US labor market drove expectations for multiple rate cuts by the Fed this year. “The 30-year fixed-rate mortgage fell 15 basis points from last week, the largest weekly drop in the past year. Mortgage rates are headed in the right direction and homebuyers have noticed, as purchase applications reached the highest year-over-year growth rate in more than four years,” said Sam Khater, Freddie Mac’s chief economist.

Source: Freddie Mac