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Let’s face it: Between high mortgage rates and steep property prices, buying a house can be prohibitively expensive these days.

But waiting for conditions to improve could take a while. Economists at the Mortgage Bankers Association predict rates will stay in the mid-6% range through at least 2027, and real estate values remain inflated by the pandemic buying boom.

So what can you do? Some people who are tired of putting off a move are stomaching the high mortgage costs with the goal of refinancing their loan if and when rates drop in the future. But if you can’t afford to do that, it’s not hopeless.

Here are five things to do if you want to buy a house this year.

1.    Try negotiating the price. Although most people have been paying top dollar since the pandemic, the tide is turning, according to economists. Unlike back then, today’s high borrowing costs are sidelining many would-be buyers just as the number of homes for sale is growing.

   In many cases, this combination is giving buyers the upper hand and forcing the first reality check on sellers in nearly five years. In fact, the median U.S. sale price in March was almost $39,000 less than the median U.S. list price, according to data from the brokerage Redfin. This gap — the biggest since May 2020 — shows sellers are increasingly overestimating what buyers are willing to pay.

   Caveat: Real estate is very location-specific, so it’s important not to assume national trends apply everywhere. Meet with an agent and research your local market to level-set your expectations for price and other competitive factors. If you live in Chicago, you may still need to prep for a bidding war, while in Houston, you might have success offering under asking price.

2.    Ask the seller to make other compromises. If you can’t get anywhere on price, don’t give up. Once a seller has received an offer, they may be willing to make other concessions in order to close the deal. Consider asking them to cover closing costs, pay for repairs, or even pay for you to have a lower mortgage rate. (Yes, that’s a thing.) It worked with 44% of U.S. home sales — nearly a record high percentage — in the first quarter, according to Redfin.

3.    Think outside the box. The affordability equation isn’t as straightforward as price and rate. Explore all your options, even less conventional ones. Can you rent out a room to a boarder or ask a relative to live with you to help defray your costs? Could you look for a smaller house than you might have otherwise in order to stay within your budget? Would you consider buying a fixer upper and living in it as-is until you can save up enough to renovate?

4.    Consider buying new. When mortgage rates are a deterrent to buying houses, builders aren’t able to wait for conditions to improve like other sellers might be able to. That’s why 61% of builders surveyed by the National Association of Home Builders in April offered some kind of sales incentive. Builders may be willing to cut their price, throw in free or reduced-cost upgrades, cover closing costs, or temporarily pay down your mortgage rate.

5.    Build in wiggle room. Unlike a fixed loan payment, insurance and property tax bills change every year, and could go up by a lot, depending on where you live. When you’re determining how much you can afford to pay for housing each month (mortgage + insurance + taxes,) make sure you could handle potential increases in the latter two. You don’t want to be able to cover today’s costs and nothing more. (Using SoFi’s Home Affordability Calculator in Advanced mode can help.)

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

OTM2025051901

For financial markets, this week is the kind of week that, on the surface, might seem like a good time to catch your breath. There aren’t any real headline-grabbing economic releases or major earnings announcements on the calendar.

Things aren’t always as they seem, however. Relatively few scheduled events don’t necessarily indicate a period of calm. It’s precisely in these moments that it’s crucial for investors to acknowledge, and even embrace, the unknown.

Times like these can sometimes lead to thinner trading volumes. Fewer catalysts often mean less urgency for traders to take big positions. But there’s a catch: Lower liquidity can be a double-edged sword. While it might mean a more subdued market if all remains quiet, it can also amplify the impact of any unexpected developments.

That’s a major risk considering the current market backdrop, given persistent uncertainty on inflation, interest rates, and broader economic growth. Add in a complex and dynamic geopolitical landscape marked by trade upheaval and military conflicts, and you have a recipe for potential, if unscheduled, volatility.

Economic and Earnings Calendar

Monday

•   April Leading Economic Index: This is an index composed of various economic indicators that have historically led changes in the broader economy.

•   Fedspeak: Atlanta Fed President Raphael Bostic will give opening remarks at the regional Fed’s annual Financial Markets Conference. Fed Vice Chair Phillip Jefferson will give a keynote speech at the Atlanta Fed conference, followed by a discussion moderated by Bostic. New York Fed President John Williams will participate in a moderated discussion at a Mortgage Bankers Association event. Dallas Fed President Lorie Logan will deliver remarks and moderate a panel titled The Increasing Role of Nonbank Institutions in the Treasury and Money Markets at the Atlanta Fed conference.

Tuesday

•   May Philadelphia Fed Non-Manufacturing Activity: The Philadelphia Fed’s survey of services executives in the region on business conditions and their outlook.

•   Fedspeak: Bostic will deliver welcome remarks at the Atlanta Fed conference. Richmond Fed President Tom Barkin will deliver a speech at the regional Fed’s Investing in Rural America Conference. Boston Fed President Susan Collins will host a Fed Listens event and give remarks. St. Louis Fed President Alberto Musalem will discuss the economy and monetary policy at the Economic Club of Minnesota. San Francisco Fed President Mary Daly and Cleveland Fed President Beth Hammack will participate in a panel discussion at the Atlanta Fed conference, moderated by Bostic.

•   Earnings: Home Depot (HD), Keysight Technologies (KEYS), Palo Alto Networks (PANW)

Wednesday

•   Weekly Mortgage Applications: Mortgage activity gives insight on demand conditions in the housing market.

•   Fedspeak: Barkin and Fed Governor Michelle Bowman will participate in a Fed Listens event.

•   Earnings: Lowe’s Companies (LOW), Medtronic (MDT), Target (TGT), TJX Companies (TJX)

Thursday

•   April Chicago Fed National Activity Index: This is a monthly index put together that incorporates 85 indicators from four categories: production and income; employment, unemployment, and hours; personal consumption and housing; and sales, orders, and inventories.

•   May S&P Global US PMIs: These indexes track how purchasing managers across different industries feel about the business environment.

•   April Existing Home Sales: Most home transactions in any given month tend to come from the existing market, and as a result set the tone for the broader housing market.

•   May Kansas City Fed Manufacturing Activity: The Kansas City Fed’s survey of manufacturing executives in the region on business conditions and their outlook.

•   Weekly Jobless Claims: This high frequency labor market data gives insight into filings for unemployment benefits. Jobless claims have continued to show a labor market that remains strong despite having cooled.

•   Fedspeak: Williams will deliver keynote remarks at a NY Fed event.

•   Earnings: Analog Devices (ADI), Autodesk (ADSK), Copart (CPRT), Deckers Outdoor (DECK), Intuit (INTU), Ralph Lauren (RL), Ross Stores (ROST), Workday (WDAY), Williams-Sonoma (WSM)

Friday

•   April New Home Sales: While only a minority of home transactions in any given month come from new constructions, these home prices tend to be more cyclical and give insight into developing trends.

•   May Kansas City Fed Non-Manufacturing Activity: The Kansas City Fed’s survey of services executives in the region on business conditions and their outlook.

•   Fedspeak: San Francisco and Richmond Fed Presidents Mary Daly and Thomas Barkin will deliver commencement speeches.

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Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

SoFi’s Rising Stars Program Provides Post-Secondary Students with Financial Skills and Resources They Need to Succeed: Financial Education, 1:1 Coaching, Grants, and Resources to Start Investing Early

SoFi Technologies, Inc. (NASDAQ: SOFI) has teamed up with five-time GRAMMY® Award nominated, multiple ACM and CMA Award winning, multiplatinum songwriter, producer, and author Kelsea Ballerini and tnAchieves, a nationally recognized nonprofit dedicated to college access and success, to launch the Rising Stars Program. This $2 million initiative is aimed at helping the next generation of Tennessee students achieve financial independence. SoFi will provide tnAchieves with over $500,000 in grants to expand its COMPLETE program. SoFi’s contributions will fund students’ 1:1 coaching and financial support as they prepare for a high-skill, high-wage career, as well as a specialized financial readiness curriculum for the 60,000 students across their programs. In addition, to help people start investing early, SoFi is offering every Tennessee resident between 18-24 the opportunity to receive a minimum of $5 in stock of their choosing, at no cost, with a chance to receive up to $1,000 in stock – all with no minimum deposit or fees required.

“It has taken me years of hard work to reach my ambitions, and I’ve been lucky to have the support of so many people along the way,” said Kelsea Ballerini. “I’m incredibly proud to be working with SoFi to give students in Tennessee the financial tools and education they need to succeed. Investing even small amounts of money in your 20s will go further than larger amounts invested later in life. Building true financial independence starts by investing in your future early…in all the ways!”

The Rising Stars Program will enable tnAchieves’s COMPLETE to expand its support for students across Tennessee to help them meet college enrollment requirements and successfully earn a college credential, from 1:1 coaching to financial assistance for food, housing, laptops, textbooks, and emergency funds. SoFi will also equip all tnAchieves students with a financial planning curriculum covering topics like budgeting, investing, and saving for future life milestones. The organization’s impact is significant: students who participate in the COMPLETE program are six times more likely to graduate than their peers.

“tnAchieves could not be more excited to partner with SoFi to bring financial literacy resources to our students and families, helping more Tennesseans achieve their ambitions of going to college and earning a high-quality degree,” said Krissy DeAlejandro, President/CEO of tnAchieves. “The Rising Stars Program will provide our students with the critical support and mentorship they need to get into college, pursue meaningful careers, and build generational wealth. We are grateful for their support as tnAchieves executes programs designed to build Tennessee’s future workforce by meeting each student where they are—at scale.”

“At SoFi, we’re committed to helping people achieve financial independence to realize their ambitions. And we know access to financial education, coaching, and investment tools can drive generational wealth and long-term success,” said Lauren Stafford Webb, CMO at SoFi. “This partnership is about creating real opportunity for young people to get their money right and build the foundation for their financial future. As a mother and a Tennessean, I care deeply about investing in the state’s next generation, and SoFi is honored to work alongside Kelsea Ballerini and tnAchieves to make an impact.”

SoFi is also making it easier for people to get started with investing and on the path to financial independence. To participate, students can register for an Active SoFi Invest brokerage account, with no minimum deposit required. Once their account is set up, they will be directed to a promotion where they can select stock values ranging from $5, $10, $50, $100, or $1,000. This offer is available to Tennessee residents between the ages of 18-24 who do not have an Active Investing brokerage account with SoFi. Registration is open from June 6 until July 31, 2025. Visit sofi.com/RisingStars to learn more.

The Rising Stars Program is part of the SoFi Generational Wealth Fund, which has contributed millions of dollars across multiple initiatives to help underserved communities build wealth for the next generation. These programs have made a meaningful impact by helping low-income families purchase their first home, funding high school athletic programs, providing financial aid for family planning, and empowering women’s financial independence. Kelsea Ballerini joins SoFi’s inspiring roster of Generational Wealth Fund partners, which includes NBA All-Star and Celtics forward Jayson Tatum, tennis champion and best-selling author Venus Williams, Los Angeles Chargers quarterback Justin Herbert, and Los Angeles Sparks forward and WNBA star Cameron Brink.

About SoFi

SoFi Technologies (NASDAQ: SOFI) is a one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. Over 10.9 million members trust SoFi to borrow, save, spend, invest, and protect their money – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi’s technology platform Galileo to build and manage innovative financial solutions across 158.4 million global accounts. For more information, visit www.sofi.com or download our iOS and Android apps.

SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

Disclosures:

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Probability of Member receiving $1,000 is a probability of 0.028%. If you don’t make a selection in 30 days, you’ll no longer qualify for the promo.

Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA/SIPC. For a full listing of the fees associated with Sofi Invest, please view our fee schedule.

©2025 SoFi Technologies, Inc. All rights reserved.

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