MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 10/27/2025 – 11/3/2025

Did You Know?

DID YOU KNOW?

* The average rate for a 30-year fixed mortgage in the 5 days ended Oct. 29 was 6.15%. Those taking out adjustable rate mortgages – around 10% of borrowers, up from 6.3% in January – are getting rates around 5.46% for 5-year and 7-year ARMs. (WSJ)

* China burns more coal than the rest of the world combined:  to cut back, they are building the world’s largest solar farm, an array of panels covering 162 square miles, 7 times the area of Manhattan located in a remote region of China on a Tibetan plateau, at an altitude of almost 10,000 feet where the thin air at that altitude means more intense sunlight, and hence greater electricity output. Electricity from solar and wind power in Qinghai, which occupies the northern part of the Tibetan plateau, costs about 40% less than coal-fired power. It has a capacity of 16,930 megawatts of power, which could run every household in Chicago.

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage eased to 6.17% as of October 30th, 2025, the lowest since early October 2024 and down from 6.19% in the previous week, according to a survey of lenders by mortgage giant Freddie Mac. Rates declined after the Federal Reserve’s widely expected quarter-point rate cut on Wednesday. “Mortgage rates decreased for the fourth consecutive week. The last few months have brought lower rates and homebuyers are increasingly entering the market,” said Sam Khater, Freddie Mac’s chief economist.

Source: Freddie Mac