Norada Real Estate Investments

Today’s Mortgage Rates, Jan 16: Big Drop Means Huge Savings for Homebuyers

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If you're thinking about buying a home or refinancing, now is a fantastic time to be looking. Today, January 16, 2026, mortgage rates have seen a significant drop, with the average 30-year fixed mortgage rate now sitting at 6.06%. This is a welcome change from this time last year when rates were hovering over 7%, marking a substantial decrease of 98 basis points. This downward trend has already sent a positive ripple through the market, evidenced by a considerable uptick in mortgage applications.

These kinds of drops are what many potential homeowners have been waiting for. It's not just a minor blip; it's a tangible shift that can make a real difference in monthly payments and overall affordability. It’s always smart to shop around for lenders, but the current environment makes that especially rewarding.

Today’s Mortgage Rates, Jan 16: Big Drop Means Huge Savings for Homebuyers

Key Takeaways:

  • Rates are significantly lower year-over-year, especially for 30-year fixed mortgages.
  • Market activity is up, showing buyer and refinancer confidence.
  • Policy decisions and economic outlook are the primary drivers.
  • Various loan types offer different benefits and risks, so understand your options.
  • Comparing lenders is essential to secure the best possible rate.

Let's dive a bit deeper into these figures, drawing from Freddie Mac's latest weekly data and Zillow's up-to-the-minute information.

According to Freddie Mac, as of the week ending January 15, 2026:

  • 30-year fixed mortgage rate: Averaging 6.06%. This is down from 6.16% last week and a stark contrast to the 7.04% average a year ago.
  • 15-year fixed mortgage rate: Currently at 5.38%, down from 5.46% last week and significantly lower than 6.27% a year ago.
  • 5/1 ARM (Adjustable-Rate Mortgage) for refinance: Coming in at 6.33%.

Zillow provides an even more granular look at current rates, which can vary slightly but offer a valuable snapshot. Keep in mind these are national averages and often rounded.

Current Mortgage Rates (Purchase):

Loan Type Average Rate
30-year fixed 5.86%
20-year fixed 5.82%
15-year fixed 5.33%
5/1 ARM 6.11%
7/1 ARM 6.14%
30-year VA 5.46%
15-year VA 5.09%
5/1 VA 5.16%

Current Mortgage Refinance Rates:

Loan Type Average Rate
30-year fixed 6.05%
20-year fixed 5.92%
15-year fixed 5.47%
5/1 ARM 6.39%
7/1 ARM 6.29%
30-year VA 5.41%
15-year VA 5.08%
5/1 VA 5.12%
30-year FHA 5.83%

Why the Drop? Unpacking the Influences

It's not by accident that we're seeing these lower rates. Several factors are at play. A significant driver was President Trump's recent announcement that Fannie Mae and Freddie Mac would buy an additional $200 billion in mortgage-backed securities. This move is designed to inject liquidity into the market and, crucially, help lower interest rates. When these government-sponsored enterprises buy more mortgage-backed securities, it increases demand for them, which in turn tends to push down the yields investors receive – and those yields are closely tied to mortgage rates.

Also, we are seeing the impact of broader economic signals. Inflation appears to be under control, and there's a general sense that the Federal Reserve's aggressive rate hikes from previous periods are having their desired effect. This creates a favorable environment for declining mortgage rates, as the central bank is less likely to feel the need to keep borrowing costs artificially high.

The Market's Reaction: A Surge in Activity

The housing market, being quite sensitive to interest rate changes, has definitely noticed. The data shows a clear and immediate response:

  • Purchase mortgage applications jumped by 16%. This means more people are actively looking to buy homes.
  • Refinance applications soared by a massive 40%. This indicates that a lot of homeowners are seeing the benefit of locking in a lower rate on their existing mortgage.

From my perspective, this surge in refinancing is particularly interesting. It tells me that many homeowners are recognizing the opportunity to save money on their biggest monthly expense. Whether it's to lower their payments, shorten their loan term, or tap into some equity, the current rate environment makes refinancing a very attractive proposition.

Looking Ahead: Forecasts for the Remainder of 2026

Forecasting mortgage rates is always a bit like predicting the weather – there are many variables, and opinions can differ. However, the general sentiment among experts right now is cautiously optimistic.

Some economists predict that rates will likely remain in the low-6% range for at least the first half of 2026. This is due to a few reasons: continued efforts to manage inflation without causing a recession, and the fact that the Federal Reserve might be taking a more measured approach to any further rate adjustments.

Others are more bullish, suggesting we could even see rates dip below 6% by the end of the year. This scenario would likely depend on a few key things:

  • Sustained low inflation: If inflation continues to cool down without signs of re-acceleration, the Fed has more room to consider rate cuts.
  • Economic growth: A steady, but not overheated, economy provides a stable backdrop for lower rates. If the economy falters significantly, that could also put downward pressure on rates.
  • Global economic stability: International events and economic performance can also influence U.S. markets and interest rates.

It’s a balancing act. While the recent policy moves are helping, the Fed will still be watching economic data very closely to ensure price stability.

Spotlight on Key Loan Types

15-Year Fixed Mortgages:
As mentioned, the 15-year fixed-rate mortgage has mirrored the downward trend, currently averaging 5.38% (Freddie Mac data). This is a substantially lower rate than last year's 6.27%. A 15-year mortgage typically comes with a lower interest rate than a 30-year loan because the lender's money is at risk for a shorter period. While the monthly payments are higher, borrowers pay significantly less interest over the life of the loan. This could be an excellent option for those who can comfortably afford the higher payments and want to pay off their home sooner.

Adjustable-Rate Mortgages (ARMs):
ARMs introduce a fascinating dynamic. While they tend to fluctuate more daily, the introductory rates on many ARMs are currently lower than those on most fixed-rate loans. For instance, the 5/1 ARM is listed at 5.41% (Freddie Mac data) in the refinance category.

Here's how ARMs work: You get a fixed interest rate for an initial period (like 5 or 7 years in a 5/1 or 7/1 ARM), and then the rate adjusts periodically based on market conditions. This can be a strategic choice for borrowers who:

  • Plan to sell their home or refinance before the fixed-rate period ends.
  • Anticipate their income to increase significantly in the future, making them comfortable with potentially higher payments later on.
  • Believe interest rates will likely fall in the future, making their adjusted payments more favorable.

However, it's crucial to understand the risks. If interest rates rise, your monthly payments will also increase, potentially making your mortgage more expensive than a fixed-rate loan.

Comparing Rates: Your Path to the Best Deal

It's always said, but it bears repeating: rates are subject to change. The numbers we're looking at today are a snapshot. What you'll actually be offered can depend on your credit score, loan-to-value ratio, and the specific lender.

This is why shopping around and comparing offers from multiple lenders is incredibly important. Don't just go with the first bank you talk to. Reach out to different mortgage brokers, credit unions, and online lenders. A small difference in the interest rate can add up to thousands of dollars saved over the life of your loan.

This is a promising time for those looking to enter or re-enter the housing market. Take advantage of these favorable conditions – do your research, get pre-approved, and get ready to make your homeownership dreams a reality.

🏡 Two Amazing Properties Available for Investors

Port Charlotte, FL
🏠 Property: Aldridge Ave
🛏️ Beds/Baths: 3 Bed • 2 Bath • 1548 sqft
💰 Price: $339,900 | Rent: $2,195
📊 Cap Rate: 5.8% | NOI: $1,643
📅 Year Built: 2025
📐 Price/Sq Ft: $220
🏙️ Neighborhood: A+

and

Punta Gorda, FL
🏠 Property: Oceanic Rd
🛏️ Beds/Baths: 6 Bed • 4 Bath • 3032 sqft
💰 Price: $639,900 | Rent: $4,895
📊 Cap Rate: 6.9% | NOI: $3,685
📅 Year Built: 2025
📐 Price/Sq Ft: $212
🏙️ Neighborhood: B+

Florida’s A+ affordable rental vs Punta Gorda’s larger high‑yield property. Which fits YOUR investment strategy?

We have much more inventory available than what you see on our website – Let us know about your requirement.

📈 Choose Your Winner & Contact Us Today!

Talk to a Norada investment counselor (No Obligation):

(800) 611-3060


View All Properties 

Plumas Leads California’s Housing Market as 22 Counties Post Double-Digit Sales Growth

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The California housing market wrapped up 2025 with a surprising surge in activity, showcasing impressive sales growth in numerous counties, with Plumas County leading the charge with a phenomenal 133.3% increase in sales. This strong finish indicates a market that, despite some cooling in prices, is showing robust resilience and offering new opportunities for both buyers and sellers across the state.

December's numbers from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) were certainly a breath of fresh air. After a year that felt like a bit of a rollercoaster, seeing sales climb month-over-month and year-over-year for four straight months was a really positive sign. It tells me that people are still actively looking for homes and finding ways to make it happen.

What's really exciting is the widespread nature of this growth. It wasn't just one or two hot spots; the data reveals that 22 counties experienced double-digit increases in home sales in December compared to the previous year. This isn't just a small uptick; it's a significant jump that suggests a broad-based recovery and renewed interest in homeownership, even in areas that might not always grab headlines.

Plumas Leads California’s Housing Market as 22 Counties Post Double-Digit Sales Growth

A Closer Look at the Numbers: December 2025 in Focus

Let's break down what these figures actually mean. On a seasonally adjusted annualized rate, the sale of existing, single-family homes hit 288,200 units in December. This is a slight bump up from November (0.3%) and a more noticeable increase of 2.0% compared to December of the previous year. It might not sound like a massive leap, but when you consider the total volume and the consistent upward trend, it paints a picture of a market gaining momentum.

For the entire year of 2025, sales were up 0.9% compared to 2024, and the median home price saw a modest 1.2% increase. While this might seem small, remember that these are statewide averages. The real story, as we'll see, is in the local variations.

Plumas County: The Unlikely Superstar

The star of the show, without a doubt, is Plumas County way up north. A jaw-dropping 133.3% increase in sales is almost unheard of! This kind of surge suggests a few things might be at play. Perhaps there was pent-up demand, or maybe recent interest in more remote or affordable living has finally hit this beautiful, but less populated, region. It's also possible that a few larger developments or a significant number of smaller transactions came through in December, skewing the numbers dramatically. Whatever the reason, it’s a remarkable comeback and really highlights how diverse the California market can be.

Following Plumas, we saw Mono County with an impressive 100% sales growth, and Lassen County with a strong 44.4% increase. These counties, also in the less densely populated northern part of the state, are showing that opportunity isn't confined to the major metropolitan areas.

A Tale of Two Regions: Far North and Central Coast Shine

Looking at broader regions, the Far North truly stood out, with a remarkable 23.5% year-over-year sales increase. This aligns with the individual county data and suggests a strong trend in those more rural and mountainous areas. The Central Coast wasn't far behind, reporting an 11.5% rise in sales. These regions are often celebrated for their natural beauty and quality of life, and it appears more people are seeking that out.

It's interesting to contrast this with other major regions:

  • Central Valley: Saw a healthy 5.5% sales increase.
  • San Francisco Bay Area: Posted a more modest 2.0% annual sales gain.
  • Southern California: Experienced a 1.7% increase.

These figures, while lower than the Far North and Central Coast, still indicate growth, which is positive news for those areas. The slight dip in year-over-year pending home sales by 0.2% might seem concerning, but on a month-to-month basis, it fell sharply by 21.5%. C.A.R. attributes this to seasonal slowdowns exacerbated by fluctuating mortgage rates and economic uncertainty. This is a typical pattern for December, so while it's something to watch, it doesn't necessarily signal a market downturn.

What About Prices? A Slight Cool-Down

While sales are up, the statewide median home price actually saw a slight dip in December, down 0.4% from November and 1.2% from December of the prior year, settling at $850,680. This is a story of cooling competition, which can actually be a good thing for affordability. It means that bidding wars might be less intense, and buyers can potentially negotiate more favorable terms.

This price moderation, especially when combined with falling mortgage rates (averaging 6.19% in December, down significantly from 6.72% a year prior), could be the key to unlocking the market for more hesitant buyers. As C.A.R. Senior Vice President and Chief Economist Jordan Levine noted, “Housing affordability showed some improvement in the fourth quarter, and the combination of lower mortgage rates and a growing supply of homes should encourage more prospective buyers to enter the market this year.” I couldn't agree more. Lower interest rates make a huge difference in the monthly payment, and when you couple that with potentially more room to negotiate on price, it creates a more appealing environment.

Regional Price Trends: A Mixed Bag

Even within the price data, we see regional differences:

  • Far North: Median prices were up 2.8% year-over-year.
  • Southern California: Saw a 0.6% increase.
  • Central Coast: Experienced a slight 0.2% uptick.
  • Central Valley: Prices were down 1.4%.
  • San Francisco Bay Area: Median prices remained unchanged.

It's fascinating to see how these trends diverge. The areas with the most significant sales growth, like the Far North, are also showing price appreciation, suggesting healthy demand meeting a market that's still finding its footing in terms of supply.

County-Level Price Movers and Shakers

At the county level, the price picture is even more nuanced. Mono County again makes an appearance with a 27.1% price jump, followed by Imperial County (21.5%) and Lassen County (18.1%). These are often more affordable areas, and an increase in median price can reflect a shift in buyer preference or a greater number of higher-priced homes selling.

On the flip side, some counties saw noticeable price drops:

  • Trinity: Steepest drop at -23.0%.
  • Glenn: -18.6%.
  • Siskiyou: -15.5%.

These kinds of declines can present opportunities for buyers looking for a bargain, but it's always crucial to understand the local factors driving these changes. Sometimes it's simply a fluctuation in the types of homes sold, and other times it points to broader economic shifts affecting the area.

Inventory and Days on Market: A More Balanced Picture

The data on housing inventory and days on market also offers valuable insights. The Unsold Inventory Index was at 2.7 months in December. While down from November, it was flat compared to the previous year. What this means is that while the supply of homes isn't overwhelming, it's also not critically low.

However, it's important to note that total active listings increased from a year ago for the 23rd consecutive month. This is a sign of a healthier supply, even if the rate of growth is slowing. This sustained increase in inventory, coupled with slightly longer selling times (36 days in December, up from 31 in December 2024), suggests a market that is moving away from the frenzied conditions of recent years towards a more balanced environment.

The Sales-Price-to-List-Price ratio of 97.9% in December (down from 98.7% in December 2024) further supports this. It means homes are selling for just below asking price on average, indicating that sellers might need to be more realistic with their pricing strategies. From my perspective, this is a positive development for the market's long-term health. A balanced market, where neither buyers nor sellers have an overwhelming advantage, is generally more sustainable.

What Does This Mean for the Future?

The strong finish to 2025 in California's housing market, with its widespread sales growth and more balanced conditions, sets a hopeful tone for 2026. The combination of easing price pressures, lower mortgage rates, and a steady supply of homes is creating a more inviting atmosphere for potential buyers. While economic uncertainties will always be a factor, the underlying trends suggest a market that is poised for continued, albeit modest, progress.

For those considering buying or selling, paying close attention to county-level and regional data is absolutely key. The broad statewide or even regional averages can mask significant local market dynamics. Understanding the specific conditions in your target area will be crucial for making informed decisions.

I'm particularly encouraged by the activity in the Far North and Central Coast. These areas, often overlooked in broader analyses, are clearly showing robust demand and offering unique lifestyle advantages. It’s a reminder that California’s housing market is far from monolithic.

The fact that Plumas County has taken such a commanding lead in sales growth is a story in itself. It speaks to the potential that exists in less traditional real estate hubs and the ever-evolving preferences of homebuyers. As we move deeper into 2026, I'll be watching to see if these trends continue and if other counties can replicate this remarkable surge in activity.

🏡 Investor Alert: Two Cleveland Rental Properties With Strong Cash Flow

Cleveland, OH
🏠 Property: W 117th St
🛏️ Beds/Baths: 4 Bed • 2 Bath • 4800 sqft
💰 Price: $169,900 | Rent: $1,660
📊 Cap Rate: 8.3% | NOI: $1,173
📅 Year Built: 1952
📐 Price/Sq Ft: $36
🏙️ Neighborhood: B-

VS

Cleveland, OH
🏠 Property: Wetzel Ave
🛏️ Beds/Baths: 3 Bed • 1 Bath • 1131 sqft
💰 Price: $170,000 | Rent: $1,500
📊 Cap Rate: 7.8% | NOI: $1,107
📅 Year Built: 1953
📐 Price/Sq Ft: $151
🏙️ Neighborhood: B

Two Cleveland rentals: one massive property with unbeatable price per sq ft vs a smaller home with solid neighborhood rating. Which fits YOUR investment strategy?

We have much more inventory available than what you see on our website – Let us know about your requirement.

📈 Choose Your Winner & Contact Us Today!

Talk to a Norada investment counselor (No Obligation):

(800) 611-3060


View All Properties

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Why Real Estate Investors Are Flocking to Cleveland for Rental Properties in 2026

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For real estate investors frustrated by sky-high home prices and shrinking returns in coastal and Sun Belt markets, Cleveland, Ohio, is quietly emerging as a standout opportunity. While many cities now require six-figure down payments just to break even, Cleveland’s rental market continues to offer something increasingly rare in 2026: affordable entry prices, steady tenant demand, and the potential for real cash flow.

Cleveland offers an irresistible blend of affordability, strong rental yields, and a robust, evolving economy, making it a top-tier destination for real estate investors seeking consistent passive income and long-term stability. This isn’t just a hunch; it’s a calculated observation based on tangible market drivers that are positioning the city as a prime location for savvy real estate investment.

Why Real Estate Investors Are Flocking to Cleveland for Rental Properties in 2026

The shift is happening as investors rethink their strategies in a higher-rate environment. With mortgage rates settling into a new normal and appreciation-driven bets becoming riskier, more investors are turning toward markets that prioritize income over speculation. Cleveland checks those boxes. Lower acquisition costs, strong blue-collar and healthcare employment, and consistent rental demand are positioning the city as one of Ohio’s most attractive markets for buy-and-hold real estate investing. So, if you're an investor scouting for your next big opportunity, let me tell you, your compass should be pointing directly at Cleveland.

The Irresistible Pull: Key Drivers for Cleveland's Rental Market

Let's dive into why so many investors, myself included, are turning their attention to this vibrant Ohio city. It boils down to a few core reasons that create a powerful investment environment.

1. Affordable Entry Points – Your Dollar Goes Further Here

One of the biggest concerns for any investor entering a new market is the initial cost. In too many cities, home prices have skyrocketed, making it nearly impossible to buy multiple properties or achieve decent cash flow without a colossal down payment. This isn't the case in Cleveland. The city's median home prices remain significantly lower than the national average. What this means for you, the investor, is a much lower barrier to entry. You can acquire quality properties at a fraction of the cost you'd find in those expensive coastal markets. I've often seen investors diversify their portfolios much faster here, which is a smart move for spreading risk and maximizing potential returns. It’s a market where you don't need millions to start building substantial wealth.

2. Strong Rental Yields and Rock-Solid Cash Flow

For me, as an investor focused on consistent income, Cleveland's rental yields are incredibly attractive. The secret sauce here is the gap between those low property prices and stable, steadily rising rents. This combination means you can often find gross rental yields exceeding 10-12%, with net yields comfortably sitting at 8-10% or even higher. When I analyze a potential investment, cash flow is king, and Cleveland reigns supreme in this regard. This market is a dream for investors who prioritize generating consistent passive income month after month. You're not just hoping for future appreciation; you're getting paid right now.

3. A Robust and Diverse Economic Engine

Any good investment needs a strong foundation, and Cleveland's economy provides just that. It's not reliant on a single industry, which gives me a lot of confidence. The city is anchored by major, recession-resilient institutions like the world-renowned Cleveland Clinic and University Hospitals. These aren't just local businesses; they are global players that attract a steady influx of doctors, researchers, medical staff, and students. Add to that Fortune 500 powerhouses such as Sherwin-Williams, and you have a consistent source of well-paid professionals who need quality housing. This diversified economic base ensures a steady stream of renters, which, for us, means less vacancy risk and more reliable income.

4. Unwavering Rental Demand

I've seen markets where everyone wants to own, leading to declining rental demand. Cleveland is different. The homeownership rate here is lower than the national average (around 40.9% compared to 65.7% nationally). This, coupled with an increasing influx of new residents – including remote workers discovering Cleveland's affordability and quality of life – creates a high and consistent demand for rental housing. When demand is high, occupancy rates stay up, and vacancy risks stay low. It’s simple supply and demand, and in Cleveland, demand for rentals is strong.

5. Landlord-Friendly Environment – Peace of Mind for Investors

This often gets overlooked, but it's a huge deal for anyone managing rental properties. Ohio's legal framework is generally considered favorable for landlords. We don't have to contend with rent caps, which can significantly hinder profitability in other states. Furthermore, the processes for eviction, should they become necessary, are streamlined compared to much more tenant-centric markets. This “landlord-friendly” atmosphere gives me, and many other investors, a greater sense of security and predictability, which is essential for stable operations and accurate financial forecasting.

6. Neighborhood Revitalization – A City on the Rise

What truly excites me about Cleveland are the palpable signs of revitalization everywhere. Areas like Ohio City, Tremont, and Downtown Cleveland are undergoing impressive urban renewal and development projects. These aren't just cosmetic changes; they’re transforming the city into a more vibrant, attractive place to live, work, and play. When neighborhoods improve, property values naturally follow, and tenant demand for housing in those areas goes up. It’s wonderful to invest in a city that’s actively investing in itself.

Cash Flow vs. Appreciation: Why Cleveland Favors Income Investors

When I talk to new investors, I always emphasize understanding their goals. Are they chasing rapid appreciation, or are they focused on consistent monthly income? While some markets offer explosive appreciation (often at the cost of high entry prices and slim cash flow), Cleveland's primary draw, in my experience, is its exceptional cash flow. This makes it an ideal market for what I call income investors.

The beauty of Cleveland is that you don't necessarily have to choose one over the other. You can often secure properties that deliver strong monthly cash flow and still benefit from steady, organic appreciation driven by the city's economic growth and revitalization efforts. It’s a balanced play, but the emphasis is definitely on putting money in your pocket every month, which, for many, is the truest measure of a good investment.

What Types of Rental Properties Perform Best in Cleveland – The Turnkey Advantage

Based on my observations and what my network suggests, the sweet spot for rental properties in Cleveland often lies in turnkey, renovated homes with tenants already in place. Why? Because it solves many of the headaches often associated with real estate investing:

  • Immediate Cash Flow: No waiting for renovations or finding tenants.
  • Reduced Risk: The property is already generating income, and a tenant is established.
  • Less Hassle: Renovations are often completed by the seller, saving you time and stress.

Let's look at some examples, using the kind of properties that truly shine in this market. While these specific listings might be gone, they illustrate the type of opportunity prevalent here:

Property Type Beds Baths Purchase Price Rental Income Cap Rate Cash Flow (NOI monthly) Neighborhood Grade
Single-Family Home 4 2 $169,900 $1,660 8.3% $1,173 B-
Duplex 4 2 $190,000 $2,000 9.8% $1,550 C+
Duplex 5 2 $240,000 $2,050 8.0% $1,609 B-
Single-Family Home 2 1 $125,000 $1,200 9.2% $961 C+

Please note: “Cap rate” is a measure of profitability, indicating the potential rate of return on the investment.

You can see from these examples that properties well under $250,000 are capable of generating strong rental income and impressive cash flow. A duplex, for instance, offers two income streams, which can provide even greater stability and higher overall returns, as seen in the $1,550 and $1,609 cash flow figures above. This is the kind of consistent performance that makes Cleveland so compelling.

🏡 Two Cleveland Rental Properties With Strong Cash Flow

Cleveland, OH
🏠 Property: W 117th St
🛏️ Beds/Baths: 4 Bed • 2 Bath • 4800 sqft
💰 Price: $169,900 | Rent: $1,660
📊 Cap Rate: 8.3% | NOI: $1,173
📅 Year Built: 1952
📐 Price/Sq Ft: $36
🏙️ Neighborhood: B-

VS

Cleveland, OH
🏠 Property: Wetzel Ave
🛏️ Beds/Baths: 3 Bed • 1 Bath • 1131 sqft
💰 Price: $170,000 | Rent: $1,500
📊 Cap Rate: 7.8% | NOI: $1,107
📅 Year Built: 1953
📐 Price/Sq Ft: $151
🏙️ Neighborhood: B

Two Cleveland rentals: one massive property with unbeatable price per sq ft vs a smaller home with solid neighborhood rating. Which fits YOUR investment strategy?

We have much more inventory available than what you see on our website – Let us know about your requirement.

📈 Choose Your Winner & Contact Us Today!

Talk to a Norada investment counselor (No Obligation):

(800) 611-3060

View All Properties

 

Common Mistakes Out-of-State Investors Make (and How to Avoid Them)

As someone who has guided many investors into new markets, I've seen some common pitfalls, especially for those investing from afar. While Cleveland is a fantastic market, it’s not without its nuances.

  1. Not Building a Local Team: This is, in my opinion, the biggest mistake. You must have trusted eyes and ears on the ground. This means a reliable local real estate agent, a top-notch property manager, and skilled contractors. Don’t try to manage a property from across the country alone; it’s a recipe for disaster.
  2. Skipping Due Diligence: Just because something is “turnkey” doesn't mean you skip your own inspections and financial verification. Always get a professional inspection, and verify all income and expense figures.
  3. Ignoring Neighborhood Specifics: Not all areas of Cleveland are created equal. Some neighborhoods are rapidly appreciating and have high demand, while others might be slower or more challenging. A good local agent can guide you through these nuances. I always tell my clients, do your homework on the street level, not just the city level.
  4. Underestimating Ongoing Costs: Factor in property taxes, insurance, potential repairs, and vacancy rates into your calculations. While Cleveland offers great cash flow, a buffer for unexpected costs is always wise.

By avoiding these missteps and approaching your investment strategically, you'll be well-positioned to take advantage of everything Cleveland has to offer.

Final Thoughts: Cleveland's Bright Future for Rental Investors

As we look towards 2026 and beyond, I firmly believe that Cleveland will continue to be a top-tier city for real estate investors. Its unique combination of affordability, robust economy, strong demand, and a landlord-friendly atmosphere creates an environment ripe for consistent income and long-term growth. If you’re seeking a market where your investment can truly work for you, where you can acquire quality assets without breaking the bank, and where monthly cash flow is not just a hope but a reality, then Cleveland deserves your serious consideration. It's not just a comeback story; it's a future forward investment opportunity.

Want Better Cash Flow? Invest in High-Demand Housing Markets

Turnkey rental properties in fast-growing housing markets, such as Cleveland, offer a powerful way to generate passive income with minimal hassle.

Work with Norada Real Estate to find such stable, cash-flowing markets beyond the bubble zones—so you can build wealth without the risks of ultra-competitive areas.

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Talk to a Norada investment counselor today (No Obligation):

(800) 611-3060

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Housing Market Recap: Record Prices and Sluggish Sales Define Last Year

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Let's get straight to it: last year was a challenging year for the housing market, with home prices reaching new highs while the number of homes being sold took a noticeable dip. It felt like a year where owning a piece of the American dream became a more distant goal for many, myself included as someone who's been watching these trends closely. While December showed some glimmers of hope, the overarching story of 2025 was one of affordability struggles and tight inventory.

Housing Market Recap: Record Prices and Sluggish Sales Define Last Year

As you navigated the news, you likely saw headlines about soaring prices. It wasn't just a feeling; it was a reality. The National Association of REALTORS® (NAR) reported that the median existing-home price climbed to a record-breaking $405,400 in December. That’s a 0.4% increase from the previous year, marking a persistent trend of rising prices that has been ongoing for 30 consecutive months. Think about that – nearly two and a half years of steady price hikes. It’s enough to make anyone watching their budget feel a bit squeezed.

The Big Picture: A Slump in Sales Amidst Price Peaks

The most striking aspect of 2025 was this strange tug-of-war between rising prices and falling sales. It’s a recipe that often leaves potential buyers frustrated and sellers wondering if now is the right time to list. According to the NAR’s report, while December saw a 5.1% jump in existing-home sales compared to the month before, bringing the annual rate to 4.35 million, the year-over-year increase was a more modest 1.4%. This means that while things picked up at the very end of the year, the overall volume of sales throughout 2025 was still relatively sluggish compared to previous periods.

Personally, I see this as a direct consequence of affordability taking a hit. When prices keep going up and incomes don't quite keep pace, more and more people get priced out of the market. It’s a tough pill to swallow for aspiring homeowners who have diligently saved for a down payment and are ready to take that next step.

Why Were Sales So Sluggish? Let’s Dig Deeper

So, what exactly drove this slump in sales? Several factors seemed to be at play:

  • Record High Prices: As mentioned, $405,400 was the median price in December. This meant that even with a slight improvement in mortgage rates, the sheer cost of entry remained a significant barrier for many.
  • Low Inventory: This is perhaps the biggest villain of the story. NAR reported that unsold inventory in December stood at a mere 1.18 million units. This is a significant 18.1% decrease from November and only a marginal 3.5% increase from December 2024. What does this mean in practical terms? It translates to a supply of only 3.3 months of unsold homes. Ideally, a healthy housing market has about 4-6 months of supply, giving buyers more choices and a bit more room to negotiate. When inventory is this low, bidding wars become more common, and prices can be pushed even higher.
  • Homeowners Hesitant to Sell: A lot of current homeowners are sitting on historically low mortgage rates from previous years. Why would they sell their current home, which they might have a 3% or 4% mortgage on, to buy a new one with a much higher rate and a dauntingly high price tag? This reluctance to list their homes further tightens the already limited supply. NAR Chief Economist Lawrence Yun touched on this, noting that “With fewer sellers feeling eager to move, homeowners are taking their time deciding when to list or delist their homes.” From my perspective, this “lock-in effect” is a huge contributor to the inventory crunch we’re seeing.

A Look at the Numbers: What the NAR Report Tells Us

The NAR report provides a detailed breakdown, and it’s worth looking at some of the key figures:

Metric December 2025 (Seasonally Adjusted Annual Rate) Month-over-Month Change Year-over-Year Change
Existing-Home Sales 4.35 million +5.1% +1.4%
Unsold Inventory 1.18 million units -18.1% +3.5%
Months' Supply of Inventory 3.3 months -0.9 months +0.1 months
Median Existing-Home Price $405,400 N/A +0.4%

As you can see, the sales numbers are improving month-over-month, which is definitely a positive sign. However, the inventory remains critically low, and prices, though only slightly up year-over-year, are still at record levels.

Regional Differences: Not All Markets Experienced the Same Pain

While the national picture was challenging, different regions experienced these trends to varying degrees.

  • The South saw a robust 6.9% increase in sales month-over-month, with an annual rate of 2.02 million. They also boasted a slight 3.6% increase in sales year-over-year, but interestingly, the median price in the South decreased by 0.3% to $360,200. This might indicate areas where demand is strong but prices are beginning to moderate slightly.
  • The West also showed strong month-over-month growth in sales (6.6%), reaching an annual rate of 810,000. Year-over-year sales were unchanged, but the median price saw a 1.4% dip to $605,600. This is still a very high median price, but the slight decrease might offer a sliver of relief.
  • The Northeast saw a 2.0% increase in sales month-over-month, but a 1.9% decrease year-over-year. Prices here remained high, with a median of $496,700, up 3.7% from the previous year.
  • The Midwest experienced a 2.0% increase in sales month-over-month, with sales holding steady year-over-year. This region offered the most affordable median price at $306,000, up 3.1% from last year.

A Ray of Hope: Lower Mortgage Rates and Price Growth Slowdown

Despite the overall gloom, there were some encouraging signs, particularly towards the end of the year. Mortgage rates continued to trend downwards, with the average 30-year fixed-rate mortgage hitting 6.19% in December, down from 6.24% in November and a noticeable drop from 6.72% a year ago. This is a significant factor that can influence affordability.

Lawrence Yun also pointed out that in the fourth quarter, “conditions began improving, with lower mortgage rates and slower home price growth.” This moderation in price increases, even if slight, could be the beginning of a much-needed stabilization for the market.

What Does This Mean for You?

If you're a buyer, 2025 was a year that tested your patience and your budget. The good news is that the slight uptick in sales and the easing of mortgage rates in December suggest that things might slowly start to shift. However, with inventory still tight, it’s crucial to be prepared, pre-approved for a mortgage, and ready to act when the right property comes along.

For sellers, while prices remain high, the slump in sales might mean being more strategic with your pricing and marketing. Understanding buyer demand in your specific area is key.

Looking ahead, it’s clear that the housing market is in a period of adjustment. While 2025 presented significant hurdles, the late-year improvements offer a hopeful outlook, and I’ll be watching closely to see if this momentum continues into 2026.

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(800) 611-3060

View All Properties

The Harsh Reality of the Housing Market: Record Prices, Weak Sales

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2025 was a brutal year for the housing market, a period defined by the painful sting of record-high home prices clashing with the disheartening slump in sales. For anyone trying to buy a home, or even just trying to understand where the market was heading, it felt like an uphill battle where the finish line kept moving further away. While the very tail end of the year offered a flicker of improvement, the overwhelming narrative of 2025 was one of affordability nightmares and incredibly scarce choices for buyers.

The Harsh Reality of the Housing Market: Record Prices, Weak Sales

Think about it: you’ve diligently saved, crunched your numbers, and perhaps even started looking for your perfect home. Then you see the prices. The National Association of REALTORS® (NAR) confirmed what many already suspected – the median existing-home price soared to a staggering $405,400 by December. That's a 0.4% jump from the year before, marking the 30th consecutive month of year-over-year price increases. Thirty months. That's two and a half years of prices relentlessly climbing, making that dream home feel more like a luxury good than an attainable goal for vast swathes of people.

The Conundrum: Prices Skyrocket, Sales Stagnate

The most eye-opening aspect of 2025 was this frustrating paradox: houses were more expensive than ever, yet fewer of them were changing hands. NAR's report paints a clear picture. While December did see a 5.1% surge in existing-home sales from November, bringing the seasonally adjusted annual rate to 4.35 million, the overall year-over-year growth was a mere 1.4%. This means that while the very last month of the year brought a welcome bounce, the preceding months were characterized by a significant slowdown in transaction volume.

From where I stand, this isn't just a number on a chart; it's a tangible barrier for real people. When prices keep climbing and wages simply aren't keeping up, the gulf between aspiration and reality widens. It’s a tough pill to swallow for those who have faithfully put aside money for a down payment, only to find that their savings are constantly being outpaced by the escalating cost of entry.

Unpacking the Sales Slump: What Drove the Stagnation?

So, what were the core reasons behind this sluggish sales performance? Several key players seemed to be working against the market's fluidity:

  • Unrelenting Price Growth: The $405,400 median price in December was a testament to this. Even with a slight easing in mortgage rates, the sheer upfront cost of buying a home remained an almost insurmountable hurdle for countless potential buyers.
  • The Dreaded Inventory Drought: This was, without a doubt, the biggest showstopper. NAR reported that as of December, there were only 1.18 million unsold homes on the market. This represents a dramatic 18.1% drop from November and a minuscule 3.5% increase from December 2024. In essence, we were left with a supply of just 3.3 months. A healthy market typically hovers around 4-6 months of supply, giving buyers more breathing room and negotiation power. When inventory is this scarce, bidding wars become inevitable, and prices get driven even higher.
  • The Great Homeowner Lockdown: A significant portion of current homeowners are sitting pretty with mortgage rates secured at historically low percentages from years past. Why would they willingly give up their incredibly favorable financing to buy a new home with a much steeper interest rate and a sky-high price tag? This “lock-in effect,” as it’s often called, is a major culprit in the persistent inventory crunch. As NAR's Chief Economist Lawrence Yun put it, “With fewer sellers feeling eager to move, homeowners are taking their time deciding when to list or delist their homes.” It makes perfect sense from a financial perspective, but it has a chilling effect on the market's ability to offer new homes to buyers.

NAR's Data: A Clear Picture of the Struggle

Let’s break down the numbers reported by the National Association of REALTORS® to see the stark reality:

Metric December 2025 (Seasonally Adjusted Annual Rate) Month-over-Month Change Year-over-Year Change
Existing-Home Sales 4.35 million +5.1% +1.4%
Unsold Inventory 1.18 million units -18.1% +3.5%
Months' Supply of Inventory 3.3 months -0.9 months +0.1 months
Median Existing-Home Price $405,400 N/A +0.4%

The month-over-month sales increase is a positive sign, no doubt. However, the fact that inventory remains so critically low, and prices, despite the slight year-over-year uptick, are still at peak levels, shows the deep-seated challenges the market faced throughout 2025.

Regional Tremors: A Patchy Performance Across the Country

The impact of these market forces wasn't uniform. Different parts of the country experienced these pressures in varying ways:

  • The South showed some resilience with a significant 6.9% month-over-month jump in sales, reaching an annual rate of 2.02 million. They also managed a 3.6% year-over-year sales increase. Notably, the median price in the South actually dipped slightly by 0.3% to $360,200. This might be a sign that in some Southern markets, demand is strong enough to absorb inventory, leading to a slight price moderation.
  • The West mirrored this strength with a 6.6% month-over-month increase in sales, hitting an annual rate of 810,000. Year-over-year sales held steady, but the median price did see a 1.4% decline to $605,600. While still astronomically high, this slight decrease offers a hint of potential relief in some of the nation's priciest markets.
  • The Northeast saw a 2.0% month-over-month sales increase, but a 1.9% year-over-year decrease. Prices remained formidable, with a median of $496,700, up a substantial 3.7% from the previous year.
  • The Midwest offered the most affordable entry point, with a 2.0% month-over-month sales increase and unchanged year-over-year sales. The median price here was $306,000, up 3.1% annually.

A Glimmer in the Dark: Mortgage Rate Relief and Price Moderation

Amidst the grim statistics, there were indeed some positive developments, especially as 2025 drew to a close. Mortgage rates showed a welcome downward trend. By December, the average 30-year fixed-rate mortgage dipped to 6.19%, a decrease from 6.24% in November and a more significant drop from the 6.72% seen a year prior. This reduction, even if modest, can make a tangible difference in monthly payments.

Moreover, Lawrence Yun's observation about “slower home price growth” in the fourth quarter is crucial. This slowing down, even if prices are still high, signals a potential shift away from the aggressive price hikes of previous periods. It’s the first sign of potential stabilization.

What Does This Bleak Picture Mean for You?

If you were a hopeful homebuyer in 2025, you likely experienced firsthand the frustration of bidding wars, limited options, and the constant pressure of rising prices. The good news, however, is that the slight upticks in sales and the easing of mortgage rates in December hint that the market might be slowly recalibrating. But with inventory still incredibly tight, the key takeaway remains: be as prepared as humanly possible. Get pre-approved, understand your budget inside and out, and be ready to make a decisive move when the right property pops up.

For sellers, while prices might still be elevated, the slowdown in sales suggests a need for strategic pricing and effective marketing. Understanding the local market dynamics is more critical than ever.

The housing market in 2025 was undeniably tough, a period of significant challenges. However, the late-year developments offer a cautious optimism that things might be shifting. I, for one, will be watching with keen interest to see if this emerging momentum carries forward into 2026.

🏡 2 Rental Properties Available for Investors

Port Charlotte, FL
🏠 Property: Aldridge Ave
🛏️ Beds/Baths: 3 Bed • 2 Bath • 1548 sqft
💰 Price: $339,900 | Rent: $2,195
📊 Cap Rate: 5.8% | NOI: $1,643
📅 Year Built: 2025
📐 Price/Sq Ft: $220
🏙️ Neighborhood: A+

VS

Punta Gorda, FL
🏠 Property: Oceanic Rd
🛏️ Beds/Baths: 6 Bed • 4 Bath • 3032 sqft
💰 Price: $639,900 | Rent: $4,895
📊 Cap Rate: 6.9% | NOI: $3,685
📅 Year Built: 2025
📐 Price/Sq Ft: $212
🏙️ Neighborhood: B+

Florida’s A+ affordable rental vs Punta Gorda’s larger high‑yield property. Which fits YOUR investment strategy?

We have much more inventory available than what you see on our website – Let us know about your requirement.

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Talk to a Norada investment counselor (No Obligation):

(800) 611-3060

View All Properties

Mortgage Rates Today Jan 16: 30-Year Fixed Refinance Rate Rises by 11 Basis Points

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On January 16, 2026, the national average for a 30-year fixed refinance rate has increased to 6.62%, a movement of 11 basis points from the previous week, signaling a slight uptick for those looking to adjust their current home loans. This update from Zillow tells us that while opportunities for savings are still present, the margin is narrowing, and timing is everything in today's mortgage market.

Mortgage Rates Today Jan 16: 30-Year Refinance Rate Rises by 11 Basis Points

What’s Happening with Refinance Rates Right Now?

Let’s break down what Zillow reported for Monday, January 16, 2026:

  • 30-Year Fixed Refinance Rate: This is the big story, moving from 6.51% last week to 6.62%. That’s a climb of 11 basis points. Think of basis points as tiny steps; 100 basis points make up one full percentage point. So, this is a noticeable, but not dramatic, step up.
  • 15-Year Fixed Refinance Rate: This option also saw a small increase, going from 5.50% to 5.54%. That’s a jump of 4 basis points. While it’s still a great rate for those looking to pay off their home faster, it’s creeping up too.
  • 5-Year Adjustable-Rate Mortgage (ARM) Refinance Rate: Here’s a bit of a bright spot. This type of loan, which starts with a fixed rate for five years before adjusting, actually went down slightly. It dropped from 7.20% to 7.15%, a decrease of 5 basis points.

Here's a quick look at the numbers in a table:

Current National Refinance Rates (as of January 16, 2026)

Loan Type Current Rate Change vs. Last Week
30-Year Fixed 6.62% +0.11% (11 bps)
15-Year Fixed 5.54% +0.04% (4 bps)
5-Year ARM 7.15% -0.05% (5 bps)

And comparing this week to last:

Weekly Trend Comparison

Loan Type Jan 8, 2026 Jan 16, 2026 Movement
30-Year Fixed 6.51% 6.62% ↑ Up 11 bps
15-Year Fixed 5.50% 5.54% ↑ Up 4 bps
5-Year ARM 7.20% 7.15% ↓ Down 5 bps

What Does This Mean for You?

  • For the 30-Year Fixed: The rise to 6.62% might make some homeowners think twice before hitting that refinance button. However, when I look back at rates from last year, this is still a pretty good spot to be in. It’s just not as good as it was a week ago.
  • For the 15-Year Fixed: At 5.54%, this is still a fantastic option if you want to cut down the time you’re paying off your mortgage and save a lot on interest over the years. The small increase here doesn't change its appeal much.
  • For the 5-Year ARM: The slight dip to 7.15% could be interesting for people who are comfortable with their rate changing down the line. This is especially true if you think you might move or refinance again within those first five years. ARMs can offer a lower initial rate, which might be appealing, but it comes with the risk of future increases.

Why Are Rates Moving Like This?

It's not just a random fluctuation. There are bigger forces at play. The mortgage market is sensitive to economic news and government actions.

I’ve been watching the refinance market closely, and it’s been buzzing lately. Refinance applications have shot up by 40% just in the past week! Compared to this time last year, they're up by a whopping 128%. This means that about 60% of all home loan applications right now are for refinancing.

Who’s doing all this refinancing? A lot of it is homeowners who took out their mortgages in 2024 and 2025, when interest rates were stubbornly staying above 7%. They’re jumping at the chance to get a better deal now that rates have dipped, even with this recent bump.

A significant event that likely influenced the market was President Trump's order on January 8, 2026. He directed Fannie Mae and Freddie Mac to buy $200 billion in mortgage-backed securities (MBS). This was an effort to help lower mortgage rates, which hadn't fallen as much as hoped despite the Federal Reserve’s rate cuts in 2025.

Looking ahead, most experts I follow believe mortgage rates will likely stay in the low 6% range throughout 2026. Some, like Fannie Mae, even predict rates could get down to around 5.9% by the end of the year.

On top of that, with home values still strong, many homeowners are looking at their equity. If you’re one of the lucky ones who got a mortgage below 5% a while back, you might be considering a cash-out refinance or a Home Equity Line of Credit (HELOC) to tap into that built-up value.

My Take on the Current Situation

What I see happening is a market trying to find its balance. Fixed rates are showing a bit of upward pressure, while the adjustable-rate options are offering a small discount. For anyone thinking about refinancing, it’s a classic trade-off: do you go for the security and predictability of a fixed rate, even if it’s a hair more expensive than last week, or do you consider an ARM for a potential short-term saving with future uncertainty?

My advice, as always, is to keep a close eye on these weekly changes. Don’t just look at the headline rate. Compare offers from different lenders. Sometimes, a difference of just a tenth of a percent can save you thousands of dollars over the life of your loan. Make sure you understand all the fees involved, too. What might look like a great rate on the surface could have hidden costs.

It’s an exciting time to be a homeowner with equity, but it requires a smart approach to borrowing.

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Port Charlotte, FL
🏠 Property: Dorion St
🛏️ Beds/Baths: 4 Bed • 4 Bath • 2086 sqft
💰 Price: $412,400 | Rent: $3,190
📊 Cap Rate: 6.2% | NOI: $2,124
📅 Year Built: 2023
📐 Price/Sq Ft: $198
🏙️ Neighborhood: A+

and

Kansas City, MO
🏠 Property: E 110th Terrace
🛏️ Beds/Baths: 3 Bed • 2 Bath • 1002 sqft
💰 Price: $220,000 | Rent: $1,700
📊 Cap Rate: 6.9% | NOI: $1,273
📅 Year Built: 1957
📐 Price/Sq Ft: $220
🏙️ Neighborhood: A-

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We have much more inventory available than what you see on our website – Let us know about your requirement.

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(800) 611-3060

View All Properties 

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Mortgage Rates Today Jan 15: 30-Year Fixed Refinance Rate Rises by 4 Basis Points

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So, you're curious about what's happening with mortgage rates today, January 15th, 2026? Well, the 30-year fixed refinance rate has seen a slight increase, climbing by 2 basis points today to 6.55%. While this is a minor move from yesterday, it's important to note that this rate is up 4 basis points from where it stood at this time last week. For many homeowners looking to save money on their mortgage, even these small shifts deserve attention.

Mortgage Rates Today Jan 15: 30-Year Fixed Refinance Rate Rises by 4 Basis

What the Latest Numbers Tell Us

Loan Type Average Rate Change vs. Yesterday Change vs. Last Week
30-Year Fixed Refinance 6.55% +0.02% (2 basis points) +0.04% (4 basis points)
15-Year Fixed Refinance 5.51% +0.01% (1 basis point) +0.01% (1 basis point)
5-Year ARM Refinance 7.25% +0.02% (2 basis points) +0.02% (2 basis points)

According to Zillow's latest data, it's a mixed bag out there, but with a general upward trend compared to last week.

  • 30-Year Fixed Refinance Rate: This is the key rate for many homeowners. It's now at 6.55%, a touch higher than yesterday's 6.53%. Crucially, this reflects an increase of 4 basis points from last week's average of 6.51%.
  • 15-Year Fixed Refinance Rate: This shorter-term loan is often favored by those looking to pay off their home faster and significantly reduce their total interest paid. It has edged up by 1 basis point from 5.50% to 5.51%.
  • 5-Year Adjustable-Rate Mortgage (ARM) Refinance Rate: These rates are also experiencing a slight uptick, increasing by 2 basis points from 7.23% to 7.25%. ARMs can be appealing for their initial lower rates, but the current trend, coupled with their inherent variability, means fixed-rate mortgages remain the preference for many seeking predictability.

Digging Deeper: Why This Matters to You

I've been closely observing the mortgage market, and it’s vital to look beyond the immediate daily numbers. The 4 basis point rise in the 30-year fixed refinance rate from last week is a notable indication of shifting conditions. For a $300,000 mortgage, this 0.04% increase translates to approximately $12 more per month. While not a drastic jump, it’s a signal that the window for securing the lowest possible rates might be narrowing slightly.

The modest increases across all loan types today are worth noting. The 15-year fixed refinance rate now at 5.51% still offers a compelling option for those able to manage the higher monthly payments, promising substantial interest savings over time. The 5-year ARM at 7.25% reinforces the inherent uncertainty of variable rates, especially in a market where fixed rates, though slightly higher than last week, still provide greater long-term financial security.

The “Refinance Window” is Open, But When to Jump?

Many homeowners who took out mortgages at rates exceeding 7% in late 2024 and 2025 are actively exploring refinancing. The current market does present an opportunity for them to reduce their monthly expenses. The substantial increase in refinance applications observed earlier in January 2026, and the year-over-year surge, indicates a high level of activity. Refinancing currently represents a significant portion of all mortgage applications, underscoring its importance in the current financial landscape.

What's Influencing These Rates?

The recent announcement from President Trump regarding the purchase of $200 billion in mortgage-backed securities (MBS) was a significant attempt to stimulate the market and lower borrowing costs. This injected liquidity aimed to make mortgages more accessible and affordable. The subsequent slight uptick in rates, while perhaps counterintuitive, can be influenced by a multitude of factors, including economic indicators and the ongoing dynamics of the MBS market itself.

Looking ahead, forecasts from organizations like the Mortgage Bankers Association and Fannie Mae predict the 30-year fixed rate to generally range between 5.9% and 6.4% for the remainder of 2026. This suggests a period of relative stability, with minor fluctuations expected.

Thinking About Your Home Equity?

For homeowners who secured mortgages at exceptionally low rates (often below 5%), refinancing their primary mortgage may not be the most advantageous move. In such cases, exploring options to leverage existing home equity becomes a more attractive strategy. Home Equity Lines of Credit (HELOCs) or home equity loans can provide access to funds for various needs, such as home improvements or debt consolidation, without impacting their highly favorable primary mortgage rate.

The Bottom Line for Homeowners

As of January 15, 2026, the mortgage refinance market is characterized by a general upward movement in rates, particularly for the prominent 30-year fixed refinance rate, which has seen a 4 basis point increase from last week. While today's marginal rise is small, the weekly trend warrants attention. This reinforces the importance of staying informed and making timely decisions if you have a refinancing goal.

For those with higher-interest mortgages, the current environment still offers a valuable opportunity to lower monthly payments. The ongoing high volume of refinance applications and the outlook for continued relative stability suggest that now is a prudent time to explore your options. Carefully consider the long-term advantages of a 15-year mortgage if it aligns with your financial capacity, and remember that even small rate changes can accumulate significant savings or costs over the lifespan of a loan. Diligent research and informed action are key to securing the best financial outcome for your future.

🏡 2 Renovated Properties Available for Investors

Port Charlotte, FL
🏠 Property: Dorion St
🛏️ Beds/Baths: 4 Bed • 4 Bath • 2086 sqft
💰 Price: $412,400 | Rent: $3,190
📊 Cap Rate: 6.2% | NOI: $2,124
📅 Year Built: 2023
📐 Price/Sq Ft: $198
🏙️ Neighborhood: A+

and

Kansas City, MO
🏠 Property: E 110th Terrace
🛏️ Beds/Baths: 3 Bed • 2 Bath • 1002 sqft
💰 Price: $220,000 | Rent: $1,700
📊 Cap Rate: 6.9% | NOI: $1,273
📅 Year Built: 1957
📐 Price/Sq Ft: $220
🏙️ Neighborhood: A-

Florida’s modern build with strong cash flow vs Missouri’s affordable rental with higher cap rate. Which fits YOUR investment strategy?

We have much more inventory available than what you see on our website – Let us know about your requirement.

📈 Choose Your Winner & Contact Us Today!

Talk to a Norada investment counselor (No Obligation):

(800) 611-3060

View All Properties 

Invest Smart — Build Long-Term Wealth Through Turnkey Real Estate in 2026

Market forecasts suggest steady demand, making turnkey real estate one of the most reliable paths to passive income and wealth creation.

Norada Real Estate helps investors capitalize on these trends with turnkey rental properties designed for appreciation and consistent cash flow—so you can grow wealth securely while others wait for clarity in the market.

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Today’s Mortgage Rates, Jan 15: 30-Year Fixed Mortgage Rate Holds Steady Below 6%

by

Okay, let's talk about today's mortgage rates, January 15. It's a question on many minds, and thankfully, there’s some good news to report: mortgage rates have nudged a bit lower, offering a welcome sigh of relief for both potential homebuyers and existing homeowners considering a refinance. What's happening right now is interesting because it feels like a gentle exhale after a period of holding our breath. We're seeing that the average rate for a 30-year fixed mortgage has settled around 5.875%. This is a noticeable drop from where things stood just last week.

Today’s Mortgage Rates, Jan 15: 30-Year Fixed Mortgage Rate Holds Steady Below 6%

Where Do We Stand Today?

For those keeping a close eye on their biggest financial commitment, here’s what the numbers look like as of January 15, 2026, according to information from Zillow:

Loan Type Average Rate
30-Year Fixed 5.875%
20-Year Fixed 5.875%
15-Year Fixed 5.250%
10-Year Fixed 4.875%
30-Year FHA 5.625%
30-Year VA 5.625%
30-Year Jumbo 6.000%
7/6 ARM 5.750%

A Look Back: What a Difference a Week Makes

It’s always wise to compare these figures to see the trend. Frankly, seeing the numbers move in this direction is encouraging:

  • 30-Year Fixed: This is the workhorse for many, and it's showing a positive trend. The current average of 5.875% is a clear improvement from the approximately 6.16% we saw on January 8. That might not sound like a huge leap, but in the world of mortgages, even a quarter-point can make a significant difference over the life of a loan.
  • 15-Year Fixed: For those looking to pay off their home faster or who qualify for these rates, this option has also become more attractive. It’s now averaging 5.250%, down from 5.46% just a week ago.

The Big Picture: What This Downward Trend Means

So, what’s the main takeaway from today’s mortgage rates? Put simply, rates have softened, settling closer to the 6% mark. This is a far cry from the more worrying figures we were seeing over 7% in early 2025. This move downwards isn't just abstract data; it translates into real-world opportunities. We're already seeing a uptick in both home purchase and refinance applications. In fact, existing home sales hit their highest pace in nearly three years in December, which tells me people are feeling more confident about diving into the market or making a change to their current home situation.

For borrowers, this dip presents a neat window to potentially lock in lower borrowing costs. The 30-year and 15-year fixed loans are particularly attractive right now. However, it's worth noting that Jumbo loans and Adjustable-Rate Mortgages (ARMs) are still a bit higher. This generally reflects continued caution from lenders, especially concerning larger loan amounts or loans where rates might change in the future.

Digging Deeper: Regional Nuances and Driving Forces

While the national average gives us a good benchmark, I always encourage people to remember that state-level averages can vary. A few basis points difference might not seem like much, but it adds up.

States Seeing Slightly Higher Rates:

  • New York: Historically, New York can show higher rates, and as of late, it’s been around 6.25% for a 30-year fixed, which is a bit above the national average.
  • Missouri: This state has also been noted for having slightly higher regional rates compared to some other areas.

States Offering More Competitive Rates:

  • Oregon: I've seen Oregon consistently trend lower, often matching the competitive national purchase rate.
  • Georgia: This state is frequently mentioned as one of those offering some of the most favorable average rates for 30-year fixed mortgages.

My Two Cents: What Experts Are Saying and What's Moving the Market

From my perspective, the most significant insight is the growing stability in the mortgage rate environment. Experts at places like Bankrate and Morgan Stanley are predicting that rates will likely stay around this 6% mark for a good portion of 2026, with the possibility of dipping even lower.

What’s contributing to this? A few key factors stand out:

  • Federal Reserve Actions: Remember those three interest rate cuts by the Federal Reserve in late 2025? Those moves were designed to help calm inflation, and they've clearly had a positive knock-on effect on mortgage rates.
  • Government Support: There was also a recent government proposal for federal agencies to purchase more mortgage bonds. While it might sound technical, this action can effectively inject more liquidity into the market, which tends to push rates down. This likely contributed to the recent brief dip we’ve seen.

The Double-Edged Sword: Demand vs. Affordability

This more favorable rate environment, coupled with strong economic growth, is doing exactly what you’d expect: it's boosting demand. We’ve seen a significant jump in both purchase and refinance applications. In fact, one week in early January 2026 saw an incredible 40.1% increase in refinance activity alone!

However, we can't ignore the elephant in the room: affordability remains a challenge. Even with lower rates, high home prices are still a hurdle for many. And then there's the inventory shortage. A lot of homeowners who benefited from the ultra-low rates (below 4%) from the pandemic era are essentially “locked in.” They're reluctant to sell and move because doing so would mean taking on a much higher monthly payment on a new mortgage. This keeps inventory tight, which, in turn, can put upward pressure on prices, creating a bit of a market paradox.

For those of you out there navigating this, my advice is to stay informed, explore your options, and work with a trusted lender. Understanding what these numbers mean for your specific situation is key. The market is dynamic, but today’s rates offer a more optimistic outlook than we've seen in quite some time.

🏡 Two Amazing Properties Available for Investors

Port Charlotte, FL
🏠 Property: Aldridge Ave
🛏️ Beds/Baths: 3 Bed • 2 Bath • 1548 sqft
💰 Price: $339,900 | Rent: $2,195
📊 Cap Rate: 5.8% | NOI: $1,643
📅 Year Built: 2025
📐 Price/Sq Ft: $220
🏙️ Neighborhood: A+

and

Punta Gorda, FL
🏠 Property: Oceanic Rd
🛏️ Beds/Baths: 6 Bed • 4 Bath • 3032 sqft
💰 Price: $639,900 | Rent: $4,895
📊 Cap Rate: 6.9% | NOI: $3,685
📅 Year Built: 2025
📐 Price/Sq Ft: $212
🏙️ Neighborhood: B+

Florida’s A+ affordable rental vs Punta Gorda’s larger high‑yield property. Which fits YOUR investment strategy?

We have much more inventory available than what you see on our website – Let us know about your requirement.

📈 Choose Your Winner & Contact Us Today!

Talk to a Norada investment counselor (No Obligation):

(800) 611-3060


View All Properties 

California Housing Market Ends 2025 on Firmer, More Stable Ground

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The California housing market closed out 2025 on a decidedly positive and more settled note. To put it simply, things are looking up for homeowners and buyers alike as we move into the new year. After a period of ups and downs, the data from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reveals a market that is not just recovering, but strengthening, showing signs of a healthy, sustainable trajectory for the year ahead.

California Housing Market Ends 2025 on Firmer, More Stable Ground

As a real estate professional who's seen my fair share of market cycles in California, I can tell you that this stabilization is a welcome development. It signals a shift away from the wild swings we’ve experienced, moving towards a more predictable environment where buyers and sellers can make informed decisions with greater confidence. Let's dive into what the numbers are telling us and what it means for you.

A Strong Finish to the Year

December 2025 proved to be a robust month for California home sales. We saw a modest but significant increase in closed escrow sales of existing, single-family homes, reaching a seasonally adjusted annualized rate of 288,200. This figure represents a 0.3 percent rise from November 2025 and, more importantly, a 2.0 percent jump compared to December 2024.

This consistent upward trend, now marking the fourth consecutive month of year-over-year sales increases, is a powerful indicator. It suggests that the pent-up demand, coupled with improving market conditions, is finally translating into action.

For the entire year of 2025, C.A.R. reports that existing statewide home sales were up by 0.9 percent compared to 2024. While this might sound like a small number, in the vast and complex California market, a positive annual gain is a solid achievement, especially considering the economic headwinds some sectors faced.

Median Home Price: A Gentle Correction, Not a Crash

One of the most talked-about aspects of the housing market is, of course, prices. In December 2025, the statewide median home price settled at $850,680. Now, I know what you might be thinking – that’s a slight decrease of 0.4 percent from November 2025 and down 1.2 percent from December 2024.

However, as someone who watches these figures closely, I see this not as a sign of market weakness, but rather as a much-needed price correction. The market had been experiencing rapid price appreciation for some time, and a slight dip, especially one that defies the typical seasonal increase, suggests a cooling of what was sometimes an overheated environment. This is precisely what we need for sustained stability. The annual median price for 2025 increased by a modest 1.2 percent from 2024, reinforcing the idea of a generally firming market rather than a declining one.

Table: Key December 2025 Housing Metrics

Metric Value Year-over-Year Change Notes
Existing Home Sales (SAAR) 288,200 +2.0% Strongest year-over-year growth in months
Median Home Price $850,680 -1.2% Gentle correction, defying seasonal trend
Annual Sales (2025) 271,590 +0.9% Positive growth for the full year
Annual Median Price (2025) (N/A for this section) +1.2% Modest annual price appreciation

SAAR: Seasonally Adjusted Annualized Rate

What’s Driving This Stability? Insights from the Experts

Tamara Suminski, the 2026 C.A.R. President, sums it up perfectly: “California’s housing market closed out 2025 on solid footing, with both home sales and available inventory improving over the prior year.” This sentiment is echoed by C.A.R. Senior Vice President and Chief Economist Jordan Levine, who notes, “Housing affordability showed some improvement in the fourth quarter, and the combination of lower mortgage rates and a growing supply of homes should encourage more prospective buyers to enter the market this year.”

Here’s what I believe are the key factors contributing to this optimistic outlook:

  • Easing Mortgage Rates: The data shows the average 30-year fixed mortgage rate in December 2025 was 6.19 percent, a noticeable drop from 6.72 percent in December 2024. This is a significant improvement for affordability. Lower rates mean lower monthly payments, making homeownership more accessible for a broader range of buyers. I’ve seen firsthand how even a quarter-point drop can bring many buyers back into consideration.
  • Inventory Growth, but with Easing Momentum: While housing inventory declined from the previous month and year in December, the Unsold Inventory Index at 2.7 months is still indicating a relatively balanced market. Importantly, total active listings have increased from a year ago for the 23rd consecutive month. The fact that the annual gain is the smallest since February 2024 suggests that while supply is available, the sheer momentum of new listings is slowing down. This is good! It means we aren't headed towards a glut, which could crash prices, but rather a steady, sustainable supply meeting a gradually increasing demand.
  • Improved Affordability: As mentioned, lower rates directly impact affordability. Combine this with the slight price correction, and you have a recipe for increased buyer interest. This is crucial for market health. When affordability improves, more people can enter the market, leading to more transactions and a more vibrant economy.

Regional Performance: A Tale of Two Cities (and Lots More)

California's vastness means that market conditions can vary considerably from one region to another. Here's a look at how some of the major areas performed:

  • The Far North and Central Coast Shine: These regions saw impressive year-over-year sales increases. The Far North, in particular, experienced a remarkable 23.5 percent jump in sales, with the Central Coast close behind at 12.8 percent. This is likely due to a combination of more affordable price points and perhaps a greater influx of buyers seeking more value.
  • Other Regions Show Steady Gains: The Central Valley (5.5 percent), San Francisco Bay Area (2 percent), and Southern California (1.7 percent) all posted more modest, but still positive, annual sales growth. This indicates a broad-based improvement across the state, even in areas known for higher price tags.
  • Price Movements Vary: On the price front, the Far North saw a 2.8 percent increase, and Southern California a 0.6 percent rise. The Central Coast saw a slight uptick of 0.2 percent. The Central Valley experienced a modest price drop of 1.4 percent, and the San Francisco Bay Area median prices remained unchanged. This divergence in price performance is typical for a large, diverse state, reflecting local economic factors and demand-supply dynamics.

Table: Regional Sales Performance (December 2025 vs. December 2024)

Region Sales YTY% Change Median Price Dec. 2025 Median Price Dec. 2024 Price YTY% Change
Far North 23.5% $380,000 $369,500 +2.8%
Central Coast 12.8% $997,000 $995,000 +0.2%
Central Valley 5.5% $485,000 $492,000 -1.4%
San Francisco Bay Area 2.0% $1,200,000 $1,200,000 0.0%
Southern California 1.7% $855,000 $850,000 +0.6%

It's fascinating to see how these numbers play out. For instance, the Central Valley saw strong sales growth but a slight price dip, hinting at a buyer-friendly environment there. Meanwhile, the Bay Area, historically a high-priced market, showed consistent sales with stable prices.

The Takeaway: A Balanced Market Emerges

As we look back at 2025, and forward into 2026, the narrative for the California housing market is one of increasing stability and a move towards balance. The days of frantic bidding wars and rapidly escalating prices seem to be receding, replaced by a more measured environment.

For buyers, this means potentially more opportunities and less pressure. Negotiating power, indicated by the sales-price-to-list-price ratio of 97.9 percent (compared to 98.7 percent a year prior), suggests that homes are selling very close to asking price, but with a bit more room for negotiation than before.

For sellers, while the frenzied market may have cooled, a stable and growing market still offers excellent opportunities, especially for well-maintained and appropriately priced properties.

The journey of the California housing market is never dull. However, the data from C.A.R. strongly suggests that by the end of 2025, we had stepped onto firmer, more predictable ground. This is great news for anyone involved in the California real estate scene. I'm optimistic about what 2026 holds!

🏡 Two Amazing Properties Available for Investors

Port Charlotte, FL
🏠 Property: Aldridge Ave
🛏️ Beds/Baths: 3 Bed • 2 Bath • 1548 sqft
💰 Price: $339,900 | Rent: $2,195
📊 Cap Rate: 5.8% | NOI: $1,643
📅 Year Built: 2025
📐 Price/Sq Ft: $220
🏙️ Neighborhood: A+

VS

Punta Gorda, FL
🏠 Property: Oceanic Rd
🛏️ Beds/Baths: 6 Bed • 4 Bath • 3032 sqft
💰 Price: $639,900 | Rent: $4,895
📊 Cap Rate: 6.9% | NOI: $3,685
📅 Year Built: 2025
📐 Price/Sq Ft: $212
🏙️ Neighborhood: B+

Florida’s A+ affordable rental vs Punta Gorda’s larger high‑yield property. Which fits YOUR investment strategy?

We have much more inventory available than what you see on our website – Let us know about your requirement.

📈 Choose Your Winner & Contact Us Today!

Talk to a Norada investment counselor (No Obligation):

(800) 611-3060

View All Properties 

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10 Hottest Housing Markets to Watch in 2026: From Hartford to Milwaukee

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If you're looking to buy a home in 2026, you'll want to brace yourself for some serious competition in certain areas. Based on Zillow's latest predictions, Hartford, Connecticut, is poised to be the nation's hottest housing market in 2026, leading a pack of competitive locales where demand significantly outstrips supply. This means fewer price cuts, homes selling faster than you can say “sold,” and strong price growth.

Zillow's insights, especially their focus on inventory, price dynamics, and buyer behavior, offer a really valuable window into what the future holds. It's not just about where prices are going up, but why they're going up, and that's what makes these markets so interesting.

10 Hottest Housing Markets to Watch in 2026: From Hartford to Milwaukee

The overall picture for 2026, according to Zillow, suggests a steady, if slow, climb for home values and sales nationwide. Affordability will continue to be a puzzle, with mortgage rates playing a big role. But the good news for buyers is that the inventory crunch we've seen is expected to ease a bit. Still, in these top markets, the struggle for listings will be real.

What Makes a Market “Hottest”?

So, what exactly does Zillow mean by “hottest”? It's all about the intense competition among buyers. Think about it: when there are way more people looking for homes than there are homes available, sellers have a huge advantage. This usually means:

  • Low Inventory: Not many homes for sale.
  • Fast Sales: Homes fly off the market quickly.
  • Bidding Wars: Homes often sell for more than their asking price.
  • Strong Price Growth: Home values tend to increase at a healthy pace.

Zillow's methodology for determining these markets is pretty thorough, looking at a range of factors. They consider forecasts for home price appreciation, the acceleration of that appreciation, how long homes typically stay on the market, employment growth compared to building permits, and the share of listings that get price cuts versus those that sell above asking price. It’s a comprehensive view, and it helps paint a clear picture of where buyer demand is likely to be most intense.

The Top 10 Hottest Housing Markets for 2026

Let's dive into the specific markets that Zillow predicts will be the hottest in 2026:

  1. Hartford, CT: Taking the top spot, Hartford is experiencing a severe shortage of homes. Inventory is a whopping 63% lower than pre-pandemic levels. This scarcity is a major driver of the intense buyer competition. In 2025, over 66% of homes in Hartford sold above their list price, more than any other major metro. This tells me that buyers here need to be prepared to act fast and offer aggressively.
  2. Buffalo, NY: Buffalo has been a consistently hot market, and Zillow’s prediction confirms its sustained appeal. This city has seen sellers hold a strong hand in negotiations, making it an incredibly competitive space for buyers.
  3. New York, NY: The Big Apple remains a powerhouse, even with its notoriously high cost of living. Zillow points to a strong home price forecast, robust employment, and a low percentage of listings experiencing price cuts (only 13.5%), indicating a very stable and in-demand market.
  4. Providence, RI: This charming New England city is making a strong showing due to its tight inventory and likely price appreciation.
  5. San Jose, CA: While coastal California famously struggles with building enough homes, San Jose is another market where demand is set to outpace supply. Even with a 27% inventory deficit compared to pre-pandemic levels, it's still better than some other areas, but competition will be fierce.
  6. Philadelphia, PA: The City of Brotherly Love is seeing its own surge in demand, likely fueled by relatively more affordable price points compared to its Northeast neighbors and a solid job market.
  7. Boston, MA: Another major Northeast city, Boston’s inclusion speaks to its enduring appeal and the ongoing challenges with housing supply.
  8. Los Angeles, CA: As expected, a major California hub like Los Angeles often features high on these lists due to persistent demand and limited inventory in many areas.
  9. Richmond, VA: This Southern capital is showing signs of a robust housing market, likely benefiting from its attractive cost of living relative to the Northeast and a growing economy.
  10. Milwaukee, WI: Rounding out the top 10, Milwaukee offers a more Midwestern flavor. Its inclusion suggests that affordability combined with growing interest is creating a competitive environment.

Why These Markets Are Heating Up

Looking at the common threads among these top markets, a few themes emerge:

The Inventory Squeeze: This is the biggest story. In places like Hartford, the supply of homes for sale is drastically limited. Zillow’s data shows Hartford with the fewest homes available compared to pre-pandemic times, still down a staggering 63%. When there’s so little to choose from, buyers have to fight harder for every property. My experience tells me this is the most crucial factor fueling a hot market.

Price Growth and Strong Forecasts: These markets are expected to see healthy home value appreciation. Hartford, for instance, has a strong home price forecast of nearly 4% for 2026, building on a 4.3% increase in 2025. Buffalo is forecasted for 2.5% growth in 2026. This growth is driven by the demand-supply imbalance.

Speed and Competition: Homes in these areas are likely to sell quickly. In Hartford, homes are typically on the market for about a week, and most sell above list price. This is a clear indicator of fierce bidding wars. New York City stands out too, with a very low percentage of price cuts, meaning sellers aren't needing to lower their prices to attract buyers.

Employment and Building Lag: Zillow also considers the relationship between job growth and new home construction. In many of these hot markets, particularly in the Northeast and coastal California, the pace of building hasn't kept up with population and job growth. This lag directly contributes to the low inventory and high competition.

What This Means for Buyers and Sellers in 2026

For buyers, this forecast means you'll need to be prepared.

  • Get Pre-Approved: Before you even start looking, have your mortgage pre-approval in hand. This shows sellers you're serious and financially ready.
  • Be Ready to Bid: If you fall in love with a home, be prepared to go above asking price, especially in markets like Hartford. Missing out on a few because your offer wasn't competitive is a real possibility.
  • Act Quickly: Don't wait too long to visit a property you're interested in or to make an offer. They might be gone by tomorrow.
  • Consider Your Priorities: You might need to be flexible on some non-essential features to secure a home in these competitive areas.

For sellers, this is fantastic news.

  • Stronger Negotiations: You'll likely have multiple offers and be in a great position to negotiate terms.
  • Higher Prices: Expect to get top dollar for your home, especially if it's well-maintained and in a desirable location.
  • Fast Sales: Your listing could sell very quickly, often above the asking price.

A Look Ahead: The National Picture

While these 10 markets are projected to be the absolute hottest, it's worth remembering the broader national trends Zillow highlighted. The overall home market is expected to see slow and steady growth. Affordability will remain a hurdle, and mortgage rates will continue to be a big question mark. However, the increasing inventory nationwide is a positive sign, suggesting that the extreme scarcity might gradually ease.

But for those targeting the prime contenders for 2026, it’s all about understanding the intense local dynamics. Being informed about these specific market conditions, as predicted by Zillow and backed by my own observations of real estate trends, will give you the best chance of navigating the competitive waters ahead successfully.

🏡 2 Amazing Properties Available for Investors

Port Charlotte, FL
🏠 Property: Aldridge Ave
🛏️ Beds/Baths: 3 Bed • 2 Bath • 1548 sqft
💰 Price: $339,900 | Rent: $2,195
📊 Cap Rate: 5.8% | NOI: $1,643
📅 Year Built: 2025
📐 Price/Sq Ft: $220
🏙️ Neighborhood: A+

VS

Punta Gorda, FL
🏠 Property: Oceanic Rd
🛏️ Beds/Baths: 6 Bed • 4 Bath • 3032 sqft
💰 Price: $639,900 | Rent: $4,895
📊 Cap Rate: 6.9% | NOI: $3,685
📅 Year Built: 2025
📐 Price/Sq Ft: $212
🏙️ Neighborhood: B+

Florida’s A+ affordable rental vs Punta Gorda’s larger high‑yield property. Which fits YOUR investment strategy?

We have much more inventory available than what you see on our website – Let us know about your requirement.

📈 Choose Your Winner & Contact Us Today!

Talk to a Norada investment counselor (No Obligation):

(800) 611-3060

View All Properties

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