the Marcelle Minute
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 the confusing jargon or overwhelming charts.
Current market trends in NYC and the tri-state area (rates, rents, sales).
Actionable tips for buying, owning, or refinancing a home.
Practical homeowner know-how—from budgeting to maintenance hacks.
A quick “Word of the Week” so you learn real estate terms step by step.
Keyword of the Day: Escrow
Escrow is a neutral holding account where money related to your home purchase is kept safe until all the conditions of the sale are met. For example, when you put down “earnest money” (a deposit that shows you’re serious about buying), it usually goes into escrow. The account is managed by a third party (like a title company or attorney) so neither you nor the seller can touch the money until closing.
Why it matters: Escrow protects both buyer and seller. It makes sure that your deposit is only released when the deal is done and that important steps—like inspections, repairs, and final paperwork—are completed fairly.
Mortgage Rates & Refi Opportunities
Rates dipped again, reaching 6.29% last week after the jobs report. That’s the lowest we’ve seen in months. The big question: can rates fall below 6% with this Federal Reserve? Economic factors point in the right direction, but Fed policy is the real decider.
In the meantime, refinances are already up 66% compared to early 2024—proof that homeowners are jumping at the chance to save. For first-time buyers, this means you can buy now and refinance later.
Special Spotlight: VA Home Loans
For first responders, veterans, and blue-collar workers who qualify, there’s been a big update: President Trump signed the VA Home Loan Program Reform Act in July, introducing a partial claim option for loss-mitigation. The program details are still unclear, but it could become a powerful safety net for veterans and service families navigating payments.
What Renters Should Know
Manhattan rents hover around $4,400 a month. That’s not just expensive—it’s money you’ll never get back. Owning locks in stability, gives you tax advantages, and builds wealth over time.
3 Simple Homeowner Tips
Start a repair fund—save ~1% of your home’s value annually.
Seasonal checklists keep maintenance from piling up.
Snap photos of appliances and system serial numbers—future-you will thank you.
