Matt's Mortgage Minute, Matt Hennessy NMLS# 209346

Matt's Mortgage Minute, Matt Hennessy NMLS# 209346 Delivering an Honest, Transparent, Knowledge Based Lending Experience. Hennessy Team powered by Benchmark Mortgage. ArkLaTex Financial Services. NMLS #2143.

NV Mortgage Company License #3820
Licensed by the DBO under the CRMLA
Equal Housing Opportunity

06/17/2026

Two Questions to Ask Before You Make Extra Mortgage Payments

How to Be More Strategic About Your Cash Flow in a High-Inflation Environment...


1) WILL I HAVE ANY LARGE UPCOMING EXPENSES IN THE NEXT 5-7 YEARS?
If the answer is yes, you may want to set aside some money to cover those expenses rather than make extra payments. According to recent statistics, more than half of Americans live paycheck to paycheck. That’s a staggering number! If you have leftover cash at the end of the month, it may be a good idea to put that money into a savings account for a rainy day. Here are some examples of large expenses you may encounter, all of which could become more expensive with inflation:

New roof, new appliances, or other large home maintenance expenses
Caring for elderly parents or helping other family members
New car, new house, or new business opportunity


2) CAN I EARN A HIGHER RATE OF RETURN BY INVESTING MY MONEY?
If you can invest your funds at a higher rate of return than your mortgage rate, you may want to consider doing that instead of using the cash flow to make extra mortgage payments. Check with your financial advisor for more details on investment opportunities worth your consideration, including retirement accounts and college savings plans. Keep in mind that hard assets like stocks and real estate tend to go up in value in a high-inflation environment. That's why real estate is considered a hedge against inflation.

Homebuilder confidence dipped slightly in June, falling two points to 35 and remaining below the growth benchmark of 50....
06/16/2026

Homebuilder confidence dipped slightly in June, falling two points to 35 and remaining below the growth benchmark of 50. Builders continue to cite affordability challenges and rising construction costs as key obstacles for the housing market.

Homebuilder confidence is low because builders are worried that buyers cannot afford homes right now, and that makes it harder to sell new houses. In June 2026, the NAHB/Wells Fargo Housing Market Index fell to 35, which is still below 50, the level that means most builders feel positive.

Think of it like a store owner seeing fewer customers walk in. If people cannot afford the product, the owner expects fewer sales, so they feel less upbeat about the business. Builders are in that same position: they want to build and sell homes, but affordability is holding the market back.

06/16/2026

The Opportunity Cost of Paying Cash... Should You Pay Cash or Use a Mortgage?



1) WHAT IS THE COST OF PAYING CASH?
When you pay cash for a property, you miss out on the opportunity to earn a rate of return on that cash. That's called an "opportunity cost." How much money could you earn on that cash if you kept it invested in an outside investment such as stocks, bonds, or another real estate property? To calculate your opportunity cost, multiply your likely rate of return by the amount of cash you'd have available to invest. For example, if you could earn 8% on your cash by keeping it invested, here's how much money you'd lose by NOT keeping your cash invested:

$100,000 cash not invested @ 8% rate of return = $8,000 annual opportunity cost
$500,000 cash not invested @ 8% rate of return = $40,000 annual opportunity cost
$1,000,000 cash not invested @ 8% rate of return = $80,000 annual opportunity cost


2) WHAT IS THE COST OF USING A MORTGAGE?
If you use a mortgage to finance the purchase of a property, you would pay mortgage interest. To calculate the cost of using a mortgage, multiply the mortgage rate by the amount of the mortgage. For example, if your mortgage rate/APR would be 7%, here's how much interest you'd pay by using a mortgage:

$100,000 mortgage @ 7% interest rate = $7,000 annual interest cost
$500,000 mortgage @ 7% interest rate = $35,000 annual interest cost
$1,000,000 mortgage @ 7% interest rate = $70,000 annual interest cost

3) WHICH OPTION HAS THE LOWEST COST?
If your rate of return on investments is greater than the interest rate on a mortgage, it may make more sense for you to use a mortgage and keep your funds invested. Also, keep in mind that mortgage interest may be tax-deductible, which could lower the after-tax cost of your mortgage even further. Please see a tax advisor for more details on the tax deductibility of mortgage interest in your situation.

13.49%.....That's the annual S&P rate of return for the past 10 years.

Should You Pay for Your Buyer’s Closing Costs? What Sellers Need To Know.A few years ago, sellers could get away with sa...
06/15/2026

Should You Pay for Your Buyer’s Closing Costs? What Sellers Need To Know.

A few years ago, sellers could get away with saying "no" to just about everything.

No repairs.

No concessions.

No negotiation.

If buyers wanted the house, they pretty much had to take it on the seller's terms. But now that inventory’s grown, negotiations are becoming a normal part of the process again.

That's why one of the most important things sellers need to understand right now is this:

The goal isn't to “win” every negotiation.

Sometimes, it’s worth meeting buyers where they are to get a deal done, fast. One example? Helping with a buyer's closing costs.

Let’s break that down, so you know what to expect if it comes up in your sale.

What Are Buyer Closing Costs?
Closing costs are the extra expenses buyers pay on top of their down payment when they purchase a home.

Loan origination fees

Appraisal and inspection costs

Title and attorney fees

Survey fees and more

Typically, buyer closing costs are estimated to be on average about 3% of the home’s purchase price. So, on the typical $400,000 home, that could mean anywhere from $8,000 to $12,000 out of pocket.

And in today’s affordability-challenged market, that upfront cash can be a major hurdle for some buyers – even if they can comfortably afford the monthly mortgage payment itself.

That’s why more people are asking sellers for help.

And More Sellers Are Saying “Yes”
According to the latest data, 67% of sellers reported paying some or all of the buyer’s closing costs in 2025 (see chart):

When Paying Closing Costs May Make Sense
This is where many sellers get stuck. They hear "help with closing costs" and immediately think: "Why should I pay for their expenses?"

But that's not always the right way to look at it. You’ve got to consider who has the leverage in today’s market.

Redfin data shows there are more sellers than buyers active today. And that shifts the market dynamics (see graph):

That doesn't mean every market favors buyers. Far from it. In some areas, homes are still selling quickly and sellers have plenty of leverage. But in others, buyers have more room to negotiate than they've had in years.

That's why local market conditions matter so much when you make your decision.

For example, helping with closing costs may be worth considering if:

There are a lot of homes for sale in your area

Your house has been sitting on the market longer than expected

You’ve had showings, but no offers

You’re motivated to move quickly

Or you’re trying to keep a deal together during negotiations

After all, if it’s the thing that helps bring a serious buyer across the finish line, it could be well worth it.

Other Concessions You Could Offer Instead
Just remember, being flexible doesn’t mean saying “yes” to every request. It means understanding which compromises actually help you accomplish your goals. Because there are always alternatives.

Redfin suggests considering other concessions if you’re not interested in helping with closing costs, like:

A home warranty

Repair credits

Flexible closing dates, or

Leave behind appliances or furniture

The right answer depends on what buyers in your market are asking for and what matters most to you. That's exactly why working with an experienced local agent is so important.

Bottom Line
The sellers having the most success today are the ones who understand the market has changed and are adapting to meet it where it is.

Sometimes that means negotiating on closing costs. Sometimes it means offering something else. The key is knowing which concessions are worth it for our local market.

06/15/2026

What Impact the Peace Deal and Upcoming Fed Interest Rtae Decision Will Have on Interest Rates This Week!

06/12/2026

Economic Data / Events – Week End June 12, 2026:

This week’s data sent mixed signals, but the overall tone was still rate-sensitive. Housing activity and purchase applications improved, consumer sentiment bounced and headline
inflation remained hot enough to keep pressure on mortgage rates.

Next week's calendar is light on surprises but heavy on housing signals, with builder confidence, permits, starts, and pending sales all expected to soften slightly from prior readings...painting a picture of a market that's still moving, but with less momentum. The headliner is Wednesday's Fed decision, where rates are expected to hold at 3.75%, meaning all eyes will be on Jerome Powell's language for any clues about the path forward.

06/12/2026

How Much House Can You Afford?

2 Simple Steps to Determine an Affordable Price Range

1) CONSIDER YOUR DOWN PAYMENT & CLOSING COSTS.
The old rule of thumb, where you needed to save 20% for a down payment to purchase a house, is so 1980s! In today's modern housing market, many affordable lending programs enable you to purchase a house with a 3% down payment. Closing costs will typically amount to 2% to 3% of the purchase price. This includes appraisal fees, title insurance, and other costs associated with buying a home. This means that you should probably budget up to 6% of the purchase price for your down payment and closing costs. Here are two ideas to consider:

Down Payment Assistance Programs. There are many down payment assistance programs available that could help make your homeownership dreams a reality, and I have access to an entire list! Contact me for more info.

Seller-Paid Closing Costs. One strategy that some clients are considering in today's market is to negotiate for the seller to pay closing costs. This may be more worthwhile for you instead of asking for a reduction in the purchase price.
Contact me to explore the down payment options and negotiating strategies that may be available for your situation!

2) CONSIDER YOUR MONTHLY PAYMENT.
In today's market, your total monthly payments on all debts, including car payments, credit cards, etc., should generally be no more than 45% of your pre-tax monthly income. Of course, those are just general guidelines, and you should speak with a mortgage professional to run the numbers for your specific situation.

Monthly payments are higher today than they've been in the recent past due to elevated house prices and interest rates. Keep in mind, though, that rent payments have also increased significantly. With a mortgage, at least you can lock in your interest rate to prevent the monthly payment from increasing in the future.

06/11/2026

The Cost of Waiting to Sell Your House...Don't Miss Out on Tax-Free Money!


1) YOUR TAX-FREE GAINS ARE CAPPED.
When you sell your property for more than what you paid for it, you have a "capital gain" that could be subject to the capital gains tax. The current tax rate for capital gains on a federal level is anywhere from 0% to 20%, depending on your level of income. You may also be subject to an additional 3.8% "net investment income tax" plus capital gains taxes at the state level

However, if you've lived in your house as your primary residence for two full years out of the past five years, you may be able to sell your house without paying any federal capital gains tax or net investment income tax. The primary residence capital gains tax exclusion is $250,000 for single taxpayers and $500,000 for married couples filing a joint tax return. House prices have increased so much in the past several years that many homeowners are at or above their cap.

For example, assume you have $500,000 of tax-free capital gains you could get by selling your house today. If you wait to sell, and your house value increases by another $100,000, you may have to pay up to 23.8% in federal capital gains and net investment income tax on that extra $100,000, plus whatever state taxes you may owe. For more details, see my article, How to Get the Primary Residence Capital Gains Tax Exclusion. Also, please reference IRS publication 523. and speak to a CPA for more details.

2) POTENTIAL INCREASE IN HOUSING COSTS ON YOUR NEXT PROPERTY.
Housing demand is likely to be greater than housing supply for at least another three to four years, according to most economists. That's because we have a housing shortage in America of roughly 3-4 million homes. This means house prices are likely to increase during the next several years, especially if interest rates drop and more buyers jump into the market. This also means the competition for your next house could be fierce, and you may be looking at higher housing costs on your replacement home if you wait to sell your current home.

PLEASE NOTE: THIS OVERVIEW IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL, TAX, OR FINANCIAL ADVICE. PLEASE CONSULT WITH A QUALIFIED TAX ADVISOR FOR SPECIFIC ADVICE ABOUT YOUR SITUATION. FOR MORE INFORMATION ON THE PRIMARY RESIDENCE CAPITAL GAINS TAX EXCLUSION, PLEASE REFERENCE IRS PUBLICATION 523.

A lot of people who want to move are telling themselves the same thing: "Maybe I'll just wait until later this year."But...
06/11/2026

A lot of people who want to move are telling themselves the same thing: "Maybe I'll just wait until later this year."

But before you decide, make sure you understand what you could be giving up too. Because moving this Summer does have its advantages.

For buyers, it could give you more options in your price point. Historically, there are over 30% more fresh listings in the Summer compared to the rest of the year.

For sellers, it can mean a better sales price. Data shows, on average homes sell for 4% more in the typical Summer month compared to usual month in the Fall or Winter (when demand typically falls off).

The point isn't to rush into anything. It's just to make sure you have the full picture before deciding whether waiting is really your best move.

DM me if you want to talk through your options. No pressure, just perspective based on years of experience.

06/10/2026

Moving this Summer, and not sure where to start? The new Summer Guides for buying or selling a home have your answers. For your free digital copy, let’s connect.

Address

9275 W Russell Road Ste 210
Las Vegas, NV
89148

Telephone

+17028101522

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