Mike Matthews, NMLS 326869 - Summit Mortgage Corporation

11/13/2025

Your November Housing report! Lower mortgage rates haven’t offset the impact of higher inventory, which is putting downward pressure on home prices.

09/08/2025

About half of homes are selling for under their asking price right now.

While that feels very different from the past few years, it’s actually a return to what’s considered normal for the market. The sellers who succeed today are the ones who recognize this shift. They price their home reasonably from day one, make their home stand out, and stay flexible when buyers ask for give-and-take.

✔️ You need to plan for the market we’re in, not the one we saw a few years back.

08/29/2025

Think refinancing isn’t worth it with rates still in the 6% range? Think again. Even a small drop could mean significant and immediate savings. This month’s e-news breaks down why now might be the smartest time to act and what you could potentially save by refinancing!

✔️ Take a read!

Subscribe to our monthly e-news to stay up-to-date with the housing market.

08/18/2025

💡 Think new homes always cost more? Not right now.

The latest data shows the median price of a newly built home is over $30K less than an existing one. That’s because builders are adjusting prices and offering serious incentives to move inventory. It’s also because builders have been focusing on smaller homes lately.

If price was the reason you ruled out new construction, it might be time for another look. Want to see what’s available near you? Let’s chat.

08/15/2025

🏠 The August Housing Index has arrived!

Sure, mortgage rates are still high, which makes affordability more challenging and cools demand somewhat. But there’s a silver lining: price momentum is easing across most areas, meaning the pace of declines is slowing.
Even better, two regions are holding strong: the Northeast and Mid-Atlantic are showing modest resilience in home prices.

Two key takeaways:
✔️ A small decline means the market is adjusting—not collapsing.
✔️ Easing momentum hints at growing stability.

07/18/2025

💡 Right now, there are more new homes to choose from. And as a result, some builders may be more willing to negotiate on price. Many are even offering better mortgage rates, too, via mortgage rate buy-downs.

➡️ This graph shows buyers of newly built homes got a mortgage rate around half a percent lower compared to those who bought existing homes.

➡️ That means you could find a great home with a lower mortgage rate, and that might make your monthly payment more manageable than you expected.

✔️ Let’s talk and see if checking out new construction could be the right move for you.

07/10/2025

💡The housing market's always buzzing, but are you listening closely enough?

The housing index isn't just a number – it's your early warning system for market shifts, investment opportunities, and future planning.

Never hesitate to reach out with any of your home loan needs!

07/03/2025

As the market shifts, nearly 44% of today’s sellers are offering concessions. That includes offering perks to buyers, such as repair credits or assistance with closing costs.

💡 The savviest sellers are using concessions to bridge gaps, sweeten offers, and get across the finish line.
With home prices up roughly 55% over the past five years, there’s plenty of room to negotiate and still come out ahead.

✔️ Want to go over which levers are worth pulling in our market? Let’s chat. That way you know what’s working for sellers in your local area, whenever you’re ready to make your move.

06/27/2025

Ever felt overwhelmed after applying for a mortgage, suddenly bombarded with calls you didn't ask for? 🤯

A new bill just passed by the House of Representatives, H.R. 5564, aims to stop this exact problem! It's all about protecting your financial privacy during the homebuying process by putting an end to "trigger leads."

Learn what trigger leads are, what this bill means for you, and what happens next.

Subscribe to our monthly e-news to stay up-to-date with the housing market.

06/19/2025

You’ve probably heard you need 20% down to buy a house, but that’s a common myth.

💡 Most first-time buyers put down much less. Many also qualify for down payment assistance, but never use it because they don’t realize it’s available.

✔️ If your down payment feels like the biggest hurdle, let's talk!

06/09/2025

💡Homeownership is one of the best ways to build wealth!

✔️As you pay down your mortgage and as home values rise over time, you gain equity – and that helps grow your net worth. That’s why a homeowner’s net worth can be nearly 40X greater than a renter's.

But you should only buy a home when you’re ready and able to do it. If you'd like to develop a plan to achieve your goal, let’s connect.

06/03/2025

💡 For the 12th consecutive year, surveys indicate that Americans consider real estate their preferred long-term investment, ranking it above stocks, gold, and bonds. Historically, homeownership has been a stable and reliable avenue for wealth accumulation.

✔️ Let's help you break into the housing market and start building your net worth today!