Good morning!

Let's talk about the number everyone is watching.

📈 THE MARKET UPDATE

Freddie Mac's weekly survey put the average 30-year fixed mortgage rate at 7.40% last Thursday. That's the seventh week in a row it has risen, and the highest average since November 2023. A year ago, it was 6.30%.

What does that mean in real life? On a $300,000 loan, 7.40% instead of 6.30% adds roughly $220 a month in principal and interest.

Is that discouraging? A little. But a rising national average doesn't mean you should stop. It means you need a plan. Your actual rate depends on your own numbers and your lender, not the headline.

🧭 SPOTLIGHT: YOUR GAME PLAN FOR HIGHER RATES

If you're buying ~

• Get pre-approved so you know your real numbers, not just the rate you see online.
• Ask your lender about all of your options, not just one loan.
• Ask when it makes sense to lock your rate, and lock it once you're under contract.

If you're selling ~

• Decide what matters most to you: speed or top dollar.
• Price for today's buyers, who are counting every dollar of their monthly payment.
• Consider offering a rate buydown or other concession. Helping a buyer with their payment can make your home stand out.

Wondering whether waiting for lower rates makes sense? We wrote a local look at exactly that: Should You Wait for Lower Rates to Buy a Home in Sicklerville, NJ?​

🏠 OUR LISTINGS ON THE MARKET NOW

Three homes we're proud to have on the market right now:

​224 Orono Place, Somerdale​

​7 Goose Neck Lane, Sicklerville​

​70 Highland Avenue, Sicklerville​

And one to celebrate: 611 Jackson Avenue in Magnolia is now under contract.

Interested in one of these? Reply to this email or call Jerry at 856.373.3537 and we'll set up a time to see it.

And if you're searching and have your eye on a different home, we're here for that too. Buying is a big decision, and you shouldn't have to walk through it alone. We'll walk you through how working together works, from your first tour to the closing table.

🚨 HOME TIP OF THE WEEK: TEST YOUR ALARMS

As the heat kicks on and the fireplaces come out, take five minutes to test every smoke and carbon monoxide alarm in your home. Press the test button on each one, and swap in fresh batteries if any chirp or sound weak. Then flip each alarm over and check the date on the back. Smoke alarms that are 10 years old or more should be replaced, even if they still seem to work. A few minutes now is the cheapest peace of mind you'll find all season.

Have a great week!

~ Jennifer, Jerry & The McManus Team