"The bond that links your true family is not one of blood but of respect and joy in each other's lives." - Richard Bach

What to Watch: The balance between easing affordability pressures and still-elevated borrowing costs remains the central theme for both buyers and sellers.

Housing: If closing costs snuck up on you, seller concessions might be the answer. Find out how you can decrease what you pay up front with this negotiation strategy.

Home Improvement: Want to spend more time outside and boost your home's resale value? Discover how easy it is to build an outdoor room.

Q&A: So, your loan servicer sold your mortgage. Find out what this means for you and your repayment schedule.

Affordability Gains Tempered by Elevated Borrowing Costs

As June unfolds, housing markets enter the peak summer selling season with affordability trends showing early signs of gradual improvement, even as mortgage rates and broader economic uncertainty continue to shape buyer behavior. The balance between easing affordability pressures and still-elevated borrowing costs remains the central theme for both buyers and sellers.

Recent data from Redfin shows that affordability has improved modestly year-over-year, with the income required to purchase a typical home declining for the seventh consecutive month as of April. The improvement reflects a combination of slightly lower mortgage rates earlier in the spring and rising household incomes. However, despite this progress, the income needed to afford a median-priced home remains well above typical U.S. earnings, underscoring how stretched affordability continues to be by historical standards.

At the same time, financing conditions have begun to shift again. Mortgage rates moved higher in May after earlier declines, partially offsetting recent affordability gains. Even small moves in rates can meaningfully impact monthly payments, keeping Treasury yields and Federal Reserve expectations firmly in focus as key drivers of housing affordability heading into the summer months. “The 30-year fixed-rate mortgage averaged 6.51% recently,” said Sam Khater, Freddie Mac's Chief Economist. “As rates fluctuate, aspiring buyers should remember that by shopping around for the best mortgage rate and getting multiple quotes, they can potentially save thousands.”

Housing demand is showing renewed but uneven momentum as the market transitions into peak season. Recent Redfin data indicates that pending home sales rose roughly 9–10% year-over-year in May, reaching their strongest level since 2022, supported in part by brief improvements in mortgage rates earlier in the spring. Broader indicators, including mortgage purchase applications and home touring activity, have also moved higher, suggesting improving buyer engagement. However, demand remains highly rate-sensitive, with activity tending to strengthen when financing costs ease and cool quickly when rates move higher.

Inventory trends and negotiation dynamics continue to play a key role across regional markets. According to recent Redfin and broader housing market data, nationally supply has moved closer to balance at roughly 5.4 months of inventory; near traditional equilibrium levels, though conditions remain uneven by region. Active listings are up about 4% year-over-year but are still roughly 13% below pre-pandemic levels, underscoring a market that is improving in supply but not fully normalized. The balance between buyers and sellers has also narrowed, while longer time on market for a growing share of listings is providing buyers with slightly more negotiating leverage in select areas.

Looking ahead, inflation, labor market strength, and consumer spending trends will remain critical in shaping both rate expectations and housing demand. Federal Reserve communications and Treasury market movements will continue to influence mortgage pricing, as housing remains closely tied to shifts in long-end yields and broader financial conditions.

Takeaway: June's housing backdrop reflects gradual improvement in affordability, but still-elevated mortgage rates keep conditions sensitive. Inventory and rate direction remain the key drivers heading into the summer market.

Source: Mortgage Market Guide, redfin

Seller Concessions: How To Negotiate Closing Cost Help From the Seller

When buyers are looking for homes, it's not uncommon for them to get so preoccupied with the down payment that they forget about the closing costs. If you find yourself in this situation, negotiating seller concessions might be the right move to reduce your up-front expenses. If a seller agrees to these concessions, it means they're willing to cover part of the buyer's closing costs. Let's take a closer look at what you can ask for, when a seller might be considering this type of arrangement, and how you can position yourself for the best possible outcome.

What Do Seller Concessions Cover?

Seller concessions cover a portion of the buyer's closing costs, which may include loan fees, title costs, appraisal fees, prepaid taxes, or insurance. However, some limits may apply, depending on the type of mortgage loan you choose. For example, conventional loans usually set a percentage of the total purchase price as the cap for what you can request in seller concessions. FHA and VA loans typically have higher concession amounts, but make sure to contact your loan officer for specific details.

Why Would a Seller Agree To Pay Closing Costs?

Sellers who are eager to close quickly are more likely to agree to concessions, especially if it's a slow market or their home has been listed for a while. Sometimes, builders will also offer seller concessions to attract new residents to the neighborhoods they've designed. Of course, if any issues reveal themselves through the home inspection process, this gives you leverage to ask the seller for concessions as well.

How Can I Negotiate Seller Concessions Successfully?

The most important thing to keep in mind when you request concessions is that you'll need to be flexible and strategic about how you structure your request. Work closely with your loan officer and real estate agent to make sure you understand your full closing costs before negotiating. Then, prioritize the concessions that matter the most. 

Remember, concessions aren't free money. The goal is to help you preserve cash at closing as the buyer. In some cases, the seller may agree to concessions but only in exchange for a higher purchase price. However, this situation can still work out in your favor by reducing the up-front costs and spreading other expenses out over time by rolling them into your mortgage. Make sure to review the property appraisal thoroughly, and rely on your real estate agent's expertise to make the right decision for you.

Sources: nar.realtor, zillow

How To Design a Backyard That Functions as an Extra Room

Whether you live down south where it's warm and sunny year-round or farther north where you enjoy the beauty of all four seasons, you probably want to spend as much time as possible outside when the weather is nice. By turning a portion of your backyard into a living space, you can do just that. Here's how to add a seamless extension onto your home that combines the great outdoors with the modern comforts you enjoy.

Cover With a Pergola

Even if you love soaking up the sun, a pergola is a worthwhile investment. These stunning structures create a defined space that transforms a simple patio or deck into an outdoor room. Add optional coverings for extra protection from the elements and to create a cozy lounge area.

Add an Outdoor Kitchen

When it's a beautiful day outside, the last thing you want to do is spend it cooking and preparing meals indoors. Move your kitchen outside by installing a built-in grill. You can also add countertops, a mini-fridge, and a sink to your outdoor setup so you have everything you need to whip up an amazing dinner al fresco. 

Install Weatherproof Flooring

If you don't already have a deck or concrete patio to build off of, you'll want to add weatherproof flooring to your new outdoor space. Interlocking deck tiles are easy to install because they snap together. They also come in a wide range of styles designed to mimic hardwood, stone pavers, and composite wood.  

Incorporate Lighting

For a finishing touch, add ambient string lights or lanterns. Depending on your budget, you might even opt for built-in fixtures. Incorporating lighting will elevate the atmosphere of your outdoor living space and make it the perfect place to curl up with a good book long after the sun goes down.

With a little work, you can transform your backyard into a functional living space that boosts your potential resale value. More importantly, you'll have a beautiful place to unwind in the evening, host cookouts in the summer, and enjoy every season to its fullest. 

Sources: bellscarpets, cavasotne, bobbykdesigns

Q&A: What Happens to My Mortgage if My Lender Goes Out of Business or Sells My Loan?

If your lender goes out of business or sells your loan, your mortgage itself will remain intact. What changes is who services your loan and collects payments. You'll receive a formal notice with the new servicer's contact details. Follow the instructions they provide to set up an online account and stay on top of payments. There's usually a 60-day grace period in case you accidentally send a payment to the old loan servicer instead. 

The original loan payments, such as the interest rate, repayment schedule, and balance, will all stay the same. Just make sure to read any notices you receive carefully. As long as you're proactive, a loan transfer shouldn't disrupt anything.

Sources: bankrate