The Ragetté Report
From Sleepover Showings to Fed Cuts
Plus: The Mortgage Market Reacts to the Fed Rate Cut, Buyers Asking for "Sleepover Showings", and The Anthony Miller House is the Deal of the Week.
Ralph Ragetté Jr
Sep 19, 2025 • Reading Time: 7 minutes
From Sleepover Showings to Fed Cuts
Plus: The Mortgage Market Reacts to the Fed Rate Cut, Buyers Asking for "Sleepover Showings", and The Anthony Miller House is the Deal of the Week.
Ralph Ragetté Jr
September 19, 2025 • Reading Time: 3 minutes
Happy Friday! 👋
By now you’ve likely heard the Federal Reserve cut short-term rates by 25 basis points.
The impact on the bond and mortgage markets is key.
Every 0.25% change in rates equals about $17 per month for every $100K financed. Scale it up or down, and the math works at any price point.
If you’re planning to buy before year’s end, here are 3 things to watch:
Rate Spread: Keep an eye on the gap between mortgage rates and the 10-year Treasury. If the spread narrows week over week, ask your lender about the timing of a rate lock.
Inventory: Active listings are slightly higher year-over-year. Expanding your search by one neighborhood or price bracket can uncover deals others overlook.
Price Reductions: Cuts are trending up week-over-week. Pay special attention to homes sitting on the market for 30+ days.
Today’s Topics:
The Mortgage Market Reacts to The Fed Cut
Would You Let a Potential Buyer Sleepover?
Deal of the week: “The Anthony Miller House”
Fed Rates 🔻 Mortgage Rates 🔺 🤔
The day after the Fed trimmed short-term rates by 25 basis points, mortgage rates did the opposite of what many expected. The 30-year fixed rate, which had been on a steady decline since hitting 7.08% in May and dropping to 6.13% on Tuesday, suddenly reversed course climbing back up to 6.37% yesterday, reported by Mortgage News Daily. Even with the bump, rates are still hovering near their lowest levels of the year. According to the Mortgage Bankers Association:
Mortgage rates have held steady or fallen for 10 weeks.
Mortgage applications increased 6 of the last 7 weeks.
Mortgage applications jumped 29.7% last week compared to the week prior.
Refinance activity is up 70% from a year ago.
Ralph’s Take
The Fed doesn’t set long-term rates like the 30-year mortgage, but its policies do influence them. Much of the recent positivity was already priced into the bond market, which mortgage rates follow. We saw a similar pattern last year: the average 30-year fixed dipped to 6.11% before the Fed’s 50-basis-point cut, then climbed back to 7% by the end of October. Will that happen again? Hopefully not — Jerome Powell signaled more cuts are likely, though the market remains sensitive to inflation and jobless claims. Either way, improving affordability is driving an uptick in buyer demand, a positive sign for the fall market — one that could strengthen further if additional rate cuts are on the horizon.
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Westchester Weekly Market Tracker 📈
‘Coming Soon’: 20 ↓-2
New Listings: 226 ↓-24
Price Reductions: 104 ↑+21
Pending Sales: 175 ↑+16
Closed Sales: 165 ↑+16
💰 Find your home’s value here: What’s my home worth?
Property Type: Residential. OneKey MLS, Inc. 9/12/25 - 9/19/25.
🛏️ The Sleepover Strategy
When it comes to selling a home, first impressions matter, but what if buyers could sleep on it, literally? A growing trend in real estate, especially in luxury markets and planned communities, is allowing serious buyers to spend the night in a property before making an offer. The extended showing gives them a true sense of the home’s features, potential nighttime noise, and the vibe of the surrounding neighborhood. 33% of buyers who spend the night end up buying — that's three times the conversion rate of a traditional showing. Why it’s interesting:
Sleepover showings convert at 33%, compared to 11% for standard tours.
Sellers gain leverage: no buyer’s remorse, fewer surprises, stronger closings.
Buyers get clarity on noise, neighborhood, commute, and comfort.
Protect the deal with waivers, deposits, and clear offer deadlines.
Ralph’s Take
Okay - I understand why the $1 pricing strategy sparked so many responses in my last post, but this idea doesn’t feel quite as radical. Think of it this way: people spend an hour on TripAdvisor before booking a $300 hotel, yet only 37 minutes touring a home before buying it for $750k. Letting a serious buyer spend the night could be one of the smartest moves in real estate right now. Sure, it sounds a little weird — but so did Airbnb, Carvana, and online mattress shopping. My opinion: Anything that helps a buyer form an emotional connection to a home is effort well spent.
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Deal of The Week 💸
“The Anthony Miller House” built in 1725 and still standing strong
🔥Hotness Factor: ♥️ 319 Favorites, 👤 5,049 Views, 🥇 6.3% Save Rate.
5 bedrooms plus 2 full bathrooms.
Wrap around porch and original hardwood floors.
Two wood-burning fireplaces and exposed beams.
New roof in 2024 and updated systems throughout.
Just Missed the Cut
Mortgage Watch 📉
This week’s average 30-year fixed mortgage rate is 6.35% (⬆️ 0.06 from this time last week.)
> The rate you may be eligible for can vary greatly from the daily average published via Mortgage News Daily.
Things to Do in Westchester This Weekend
Saturday, September 20th
74th Annual Herb Fair & Market, Katonah
Aquefest, Ossining
Fall Festival: Farm to Fork Weekend, North Salem
Fox Senior Center Annual Tag Sale, Mount Kisco
Katonah Art Walk, Katonah
Lewisboro Library Fair, South Salem
Mystic Moon, North Salem
Oktoberfest, Elmsford
San Gennaro Feast, Yorktown
Sip Sound Savor, Rye
Westchester Comedy, White Plains
Westchester Volunteer Firefighters Association Parade, Tarrytown
Sunday, September 21st
Bicycle Sundays, Lower Westchester
Fall Festival: Farm to Fork Weekend, North Salem
Fox Senior Center Annual Tag Sale, Mount Kisco
Mystic Moon, North Salem
Oktoberfest, Elmsford
San Gennaro Feast, Yorktown
Sleepy Hollow Street Fair, Sleepy Hollow
This market is not perfect. I'm here to help.
Ready to tour properties?
Reply, call, or text message me: (914) 202-1101
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Learn your home's value and find recent comparable sales here
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With gratitude, Ralph 🫡
