04/24/2026
Jeff and I wanted to share a quick recap of our latest Market Talk episode featuring Joe Valente (Tabatchouk Law) and Kevin Dolan (AnnieMac Home Mortgage).
Key Highlights:
Geopolitical Volatility & Mortgage Rates - The recent Iran conflict triggered a classic knee-jerk reaction: oil prices spiked, raising inflation fears and pushing mortgage rates up roughly ½ point. Rates have since recovered about halfway. We’re currently seeing national averages in the low-to-mid 6% range (competitive A+ borrowers around 6.25%). While timing remains impossible to predict, the panel believes rates should ease once oil flows stabilize through the Straits of Hormuz.
Spring Market: Paused, Then Rebounding - A strong spring market was building until the conflict caused many buyers to hit pause. Activity is now returning. We’re seeing more listings, multiple offers on good properties, and a clear delayed spring market in the Northeast. Inventory remains very low (1–1.5 months in many areas), and well-priced homes are still moving quickly.
New York Luxury Market - The proposed Pied-Ă -Terre luxury tax on non-primary residences $5M+ is expected to temporarily slow that segment. While ultra-wealthy buyers may proceed, threshold buyers are likely to pull back or downsize, reducing buyer pools and pressuring sale prices in the short term.
Cash Buyers & Political Climate - Early March saw an uptick in cash buyers in NYC looking to diversify out of volatile markets. That activity has since normalized.
Advice for Buyers & Sellers
There is never a perfect time to buy. The right time is when it aligns with your goals and life circumstances. Waiting for “calmer waters” often means missing opportunities—rates may improve, but competition will likely increase. Right now, buyers are seeing less competition than expected in a typical spring.
The full discussion is in the attached/short video — highly recommended if you’re thinking about buying, selling, or refinancing in the coming months.
Let me know if you have any questions or if we can help run numbers for your specific situation.
Jayson Frank, Real Estate Agent
Team Lead/Broker Associate
Cell: (732) 768-5944 (best)
Office: (866) 201-6210 ext. 284
Email: [email protected]
Jeffrey Kalafut-Pinnacle Partners Group
Team Lead/Broker Associate
Cell: (973) 886-6797(best)
Office: (866) 201-6210 ext. 1580
Email: [email protected]
Kevin R. Dolan - New Jersey Mortgage Banker (NMLS #281162)
Mortgage Advisor, Area Manager
AnnieMac Home Mortgage (NMLS #338923)
Cell: (201) 486-3177
Email: [email protected]
Joe Valente Valente, Esq.
Partner, Tabatchouk Law Firm, PC
Phone: (845) 489-1811
Email: [email protected]
Geopolitical Volatility, Mortgage Rates & Spring Market Outlook