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Spring 2025 Mortgage Market Overview: Opportunities in Glens Falls and Saratoga

Written by Kristen Zorda on . Posted in Featured, Financial, Glens Falls, Newspaper.

For sale real estate sign in front of new house.

Andrew Stringer, EVP of Capital Markets at PrimeLending, notes that despite recent fluctuations, the spring season offers a window of opportunity. “Home prices are still high, and mortgage rates remain above historical lows, but there are always ways to make homeownership viable,” he explains. “Creative financing, negotiation leverage and strategic refinancing can open doors for buyers and owners looking to build wealth through real estate investment.” 

Here’s a closer look at what experts anticipate for the Spring 2025 housing market in the region: 

  • Mortgage Rates: Forecasts suggest average rates will linger around 6.5% through the end of 2025, with a possible dip below 6% in 2026. 
  • Affordability Hurdles: Elevated home prices continue to pose challenges, underscoring the importance of exploring innovative financing solutions. 
  • Rising Inventory: A gradual increase in available homes could give buyers more options and room to negotiate. 
  • Spring Surge: After early-year uncertainty, stabilizing rates are expected to fuel a seasonal uptick in homebuying activity. 
  • Refinance Opportunities: Homeowners might find chances to lower payments or access equity through refinancing. 
  • Economic Influences: Inflation, employment trends and Federal Reserve policies will remain key drivers of mortgage rate movements. 

Strategies for Affordable Homeownership 

Even with high prices and rates, prospective buyers can employ several tactics to make purchasing a home more manageable: 

  • Rate-Reduction Options: Temporary buydowns provided by sellers or builders, can effectively cut rates by up to 3% in the early years of a loan. Alternatively, paying discount points upfront can secure a lower rate for the long haul. Renovation loans also allow buyers to snag a fixer-upper at a discount and roll repair costs into the mortgage. 
  • Assistance Programs*: Local and government initiatives often provide down payment aid, grants, or tax credits to ease upfront expenses. 
  • Local Expertise: Partnering with a lender familiar with the Glens Falls and Saratoga markets can unlock tailored solutions and streamline the process, providing tangible advantages. 

Why Buying Now Could Pay Off 

Despite the hurdles, several factors make spring 2025 an appealing time to enter the market: 

  • More Choices: Growing inventory may reduce competition and bidding wars, giving buyers a broader selection. 
  • Equity Over Rent: Owning a home builds equity over time, offering a financial edge compared to renting. 
  • Long-Term Gains: Historically, homes appreciate in value, providing wealth-building potential over five years or more. 
  • Negotiation Leverage: With more homes available, buyers might secure concessions like closing cost coverage or upgrades. 

Refinancing: A Timely Option? 

For current homeowners, refinancing could be a smart move to adjust payments, shorten loan terms, or access equity. Benefits might include lower monthly costs, faster payoff timelines, or funds for renovations and debt consolidation. With spring projects in mind—think landscaping or a fresh coat of paint—a cash-out refinance could boost both curb appeal and property value. 

The Value of Expert Guidance 

Whether buying or refinancing, the process starts with a solid plan. Assessing finances, exploring loan options, and seeking advice from a seasoned mortgage professional can make all the difference. In the vibrant Glens Falls and Saratoga markets, these steps could turn homeownership goals into reality. 

About PrimeLending

PrimeLending, a subsidiary of PlainsCapital Bank and Hilltop Holdings Inc., focuses on simplifying the home loan experience. With a local presence, the company serves borrowers across various goals—purchasing, refinancing, or building—through a mix of personal attention and digital innovation. 

PrimeLending North Syracuse, 

6702 Buckley Rd, Ste 130, Bldg B, North Syracuse, NY 13212  |  (315) 457-2900

All loans subject to credit approval. Rates and fees subject to change. ©2025 PrimeLending, a PlainsCapital Company (PrimeLending). (NMLS: 13649) Equal Housing Lender. PrimeLending North Syracuse, 6702 Buckley Road, Suite 130, Bldg B, North Syracuse, NY 13212, is a wholly owned subsidiary of a state-chartered bank and is regulated by the New York Department of Financial Services No. LMBC 108099. v022422

Note: This overview is for informational purposes only and not intended as financial advice. Consult a professional for guidance tailored to your circumstances. 

*Certain restrictions apply, subject to down payment assistance program guidelines. Not available in all areas. Please contact your PrimeLending branch for more details.

Kristen Zorda (NMLS# 58751), a registered loan originator with PrimeLending at the Syracuse branch has 20 years of experience in the region and emphasizes a hands-on approach. “I love helping first-time buyers navigate the process and watching them grow into their financial future,” she says. Kristen blends personalized service with modern tools to support clients through buying, refinancing, or renovating. 

About PrimeLending: 

PrimeLending, a subsidiary of PlainsCapital Bank and Hilltop Holdings Inc., focuses on simplifying the home loan experience. With a local presence, the company serves borrowers across various goals—purchasing, refinancing, or building—through a mix of personal attention and digital innovation. 

PrimeLending North Syracuse, 6702 Buckley Road, Suite 130,  Bldg B, North Syracuse,  NY 13212, (315) 457-2900

All loans subject to credit approval. Rates and fees subject to change. ©2025 PrimeLending, a PlainsCapital Company (PrimeLending). (NMLS: 13649) Equal Housing Lender. PrimeLending North Syracuse, 6702 Buckley Road, Suite 130, Bldg B, North Syracuse, NY 13212, is a wholly owned subsidiary of a state-chartered bank and is regulated by the New York Department of Financial Services No. LMBC 108099. v022422