MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 9/29/2025 – 10/6/2025

Did You Know?

DID YOU KNOW?

* 20% of U.S. citizens will soon be over the age of 65. And these more than 70 million retired or soon-to-be-retired boomers are increasingly looking for senior living communities that will allow them to pursue their passions alongside like-minded individuals. Niche retirement communities, with dedicated groups for specific individuals and interests like horse lovers, film buffs and even retired postal workers are a growing trend. (NY TIMES)

* The median cost for assisted living in the US is about $5,900 a month. To fully retrofit a house for aging in place can cost up to $65,000.  (Genworth Financial)

* The garage is becoming a growing opportunity for homeowners to expand…..often converting their garages into living rooms or indoor-outdoor entertainment areas. (NY TIMES)

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage backed by Freddie Mac rose by 4 bps from the previous week to 6.34% as of October 2nd, rebounding for a second straight week as treasury yields ticked higher. “The 30-year fixed-rate mortgage increased again this week but remains below its 52-week average of 6.71%. The last few months have brought lower rates and as indicated by the recently reported increase in pending home sales, homebuyers are feeling more confident to get into the market,” said Sam Khater, Freddie Mac’s chief economist. Mortgage rates, along with the Treasury yields that influence them, are likely to remain within a narrow range for now as financial markets weigh the effects of the government shutdown.

Source: Freddie Mac