MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 10/19/2026 – 10/26/2026

Did You Know?

* An Ivy League Education is only for the rich? 55% of undergraduate students at Harvard and Yale receive need-based financial aid through institutional grants and scholarships. 

* Between 75-88% of US millionaires are self-made…….Over 70% of US billionaires are self-made compared to France’s 56%, 53% for Norway, 42% of Turkey, 40% of Sweden’s and 17% of Danish billionaires…..

* When Spain initiated and later reintroduced its wealth tax, it led to significant legal avoidance, asset shifting, and regional divides rather than a mass exodus of the super-rich, causing a sharp reduction in taxable wealth. Taxpayers largely restructured their assets and income to exploit legal exemptions, particularly business-related assets and limits on total tax liability. Not unlike the United Divided States of America, Spain’s autonomous regions have the power to set their own rules and exemptions, the impact varied drastically by location….like some US states that charge zero capital gains and income taxes and others charging lots….Madrid enacted a 100% relief/deduction, effectively eliminating the wealth tax for its residents. Andalusia and Extremadura applied heavy or complete regional relief, while regions like Catalonia, Valencia, and the Balearic Islands maintained active tax scales with rates reaching up to 3% to 3.5%. Switzerland has a successful wealth tax (0.1-1.1%)….but no capital gains tax, and the country offers stability, high quality of life, great healthcare, law and order, cleanliness, etc….. and most Swiss cantons (somewhat akin to our county’s/orstates) completely exempt spouses and direct descendants from inheritance and gift taxes.

Mortgage Rate Updates:

As of October 22, 2026, Freddie Mac reported the average 30-year fixed mortgage rate at 7.32%, down from 7.40% the previous week and up from 6.19% a year ago. The average 15-year fixed rate was 6.68%, down from 6.71% the previous week and up from 5.44% a year ago. Freddie Mac Chief Economist Sam Khater said the average 30-year fixed rate mortgage declined this week, offering some relief to prospective homebuyers.

Source: Freddie Mac