Lower Rates Bring Hope to the New Orleans Housing Market

After years of battling high mortgage rates and surging property insurance costs, the New Orleans-area housing market may finally be turning a corner.

“I feel like we’re coming out of the rough spot now,” said Jamie Hughes, a Realtor with Reve Realtors in New Orleans.

According to the New Orleans Metropolitan Association of Realtors, home sales in August rose across Orleans, Jefferson, and St. Tammany parishes compared to the same time last year. The data comes just as the Federal Reserve recently cut its benchmark interest rate — a move that could help more buyers re-enter the market if mortgage rates continue to fall from their current level of around 6%.

“If we go under 6%, I think that will bring a lot more buyers back,” Hughes said. “There were many sitting on the sidelines for the past couple of years for various reasons.”

Buyers Cautiously Return
While additional rate cuts are expected in the coming months, Hughes warns against waiting too long to make a move.

“The time to buy is whenever you find the right house you can afford,” she said. “You can always refinance, but when rates get lower, competition gets higher — and you may not get the house you had your eye on.”

Her message reflects a growing sentiment among real estate professionals: that timing the market rarely pays off. For buyers who can manage current rates, the recent dip may offer an early advantage before renewed demand drives up prices again.

Broader Economic Ripples

The effects of falling rates stretch beyond residential real estate. Jim Spiro, managing director with Morgan Stanley in New Orleans, said local businesses and consumers alike could benefit.

“Businesses should benefit nicely because they’re constantly borrowing money and trying to grow, expand, or hire new people,” Spiro said.

Cheaper borrowing costs can encourage investment, hiring, and consumer spending — all key components of a healthier regional economy.

Population Challenges Persist

Still, lower rates alone won’t fix the deeper issues weighing on the local housing market. Ken Johnson, a real estate economist and professor at the University of Mississippi, said the metro area faces one of the toughest market environments in the country.

“There’s just not enough demand,” Johnson explained. “As your population either slowly grows or declines — and New Orleans is slightly declining right now — you start to have vacant houses, which become blighted houses. It’s like throwing gas on a fire at that point.”

Johnson, who has studied housing and rental trends across the region, believes stabilizing the market will require more than interest rate relief. “That decline in population means you lose demand for housing,” he said, noting that a shrinking base of residents limits long-term recovery potential.

Looking Ahead
Despite structural headwinds, the recent uptick in home sales and the Fed’s rate cut have injected a cautious optimism into the market. For realtors like Hughes, even modest improvements are a welcome shift after two sluggish years.

Whether this rebound strengthens or fades will depend on how far rates fall — and whether the region can retain and attract residents to sustain demand. For now, at least, the signs point toward a slow but hopeful recovery in the Crescent City’s housing scene.

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Mortgage Rates Fall to Lowest Level in a Year as Buyer Demand Surges

After a long stretch of stubbornly high borrowing costs, mortgage rates are finally easing — and homebuyers are taking notice. The average rate for a 30-year fixed mortgage dropped to 6.35% this past week, down from 6.5% a week earlier, according to Freddie Mac. That’s the lowest level since last October and marks the biggest weekly decline in over a year.

Rates have hovered above 6.5% for most of the past twelve months and even climbed beyond 7% earlier this year. Now, as they begin to fall, the housing market is showing signs of life.

“Mortgage rates are headed in the right direction and homebuyers have noticed,” said Sam Khater, Freddie Mac’s chief economist. “Purchase applications reached the highest year-over-year growth rate in more than four years.”

Borrowers Rush to Refinance and Buy

The drop in rates has triggered a wave of activity. Mortgage applications for both purchases and refinances rose on both a weekly and annual basis, according to data from the Mortgage Bankers Association.

Refinancing made up nearly half of all mortgage applications — a clear signal that homeowners who locked in loans during higher-rate months are eager to trim their monthly payments. Meanwhile, purchase applications jumped to their highest point since July, as buyers who had been sidelined by affordability concerns re-entered the market.

What’s Behind the Rate Decline?

A mix of economic data and market expectations helped push mortgage rates lower.

Recent reports showed inflation rising slightly — grocery prices jumped 0.6% in August and are up 2.7% over the past year — but the bigger story was the softening labor market. The Bureau of Labor Statistics revised its figures and revealed that hiring over the past 12 months was overstated by 911,000 jobs, and the latest monthly report showed just 22,000 new jobs added in August.

This cooling job growth led to a decline in Treasury yields, which directly influence mortgage rates. As investors anticipate slower economic momentum and a potential rate cut from the Federal Reserve, yields — and by extension mortgage rates — have slipped.

The Fed’s Next Move

The Fed is widely expected to cut its benchmark federal funds rate at its upcoming meeting next week. However, experts caution that the move might not lead to a major drop in mortgage rates.

That’s because much of the expectation for a cut is already baked into current pricing. In other words, markets have been anticipating the move for weeks, and lenders have adjusted accordingly.

Still, the broader sentiment is improving. Lower borrowing costs, even modestly lower ones, can translate to thousands of dollars in savings over the life of a loan — and that’s enough to pull more buyers back into the market.

A Sign of Optimism

For much of the past year, the housing market has been caught in a tug-of-war between high prices and high rates. While affordability challenges remain, the recent decline marks a turning point that could gradually restore balance.

If rates continue to edge lower into the fall — and if the Fed signals a more sustained shift toward easing — buyers may finally find a little breathing room. For now, one thing is clear: momentum is returning to the housing market, and both buyers and homeowners are ready to take advantage of it.

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RMHC South Louisiana to Host Third Annual Fore the Families Par•tee in New Orleans

NEW ORLEANS – Ronald McDonald House Charities of South Louisiana (RMHCSLA) is gearing up for its third annual Fore the Families Par•tee, a lively fundraiser that combines local flavor, entertainment, and community spirit.

The event, presented by EMR Metal Recycling, will take place on Wednesday, Oct. 1, from 5:30 to 8:30 p.m. at Rock ‘N’ Bowl on S. Carrollton Avenue. Guests can look forward to premium cocktails, New Orleans cuisine, live music from BRW, bowling, and an upscale silent auction featuring one-of-a-kind items.

Among the auction highlights: a football signed by Archie, Peyton, and Eli Manning; an exclusive Avery Island getaway; luxury golf experiences; a signed Archie Manning Saints jersey; fine jewelry; and curated dining packages.

“This year, we truly have so much to celebrate,” said Grace McIntosh, CEO of RMHCSLA. “In 2024 alone, our Ronald McDonald House in New Orleans and the Family Room in Lafayette have provided nearly 7,509 nights of lodging to 291 families and more than 1,200 individuals. Together, we’ve served over 73,800 meals and welcomed families from across Louisiana, 10 states, and even four countries.”

Tickets for the Rock ‘N’ Par•tee are $100 per person through Sept. 15 and $125 thereafter. All proceeds directly support RMHCSLA families, ensuring they can stay near their children at no cost while receiving medical care.

Additional sponsors include Agent Trust, Hoffman Media, Barbara & Clark Fitz-Hugh, Kristy & Rich Vanderbrook, Jones Walker, and Laborde Marine.

Since its founding in 1983, RMHCSLA has served more than 40,000 families, helping ease both financial and emotional burdens while their children receive critical care.

For more information or to purchase tickets, visit the RMHCSLA website.

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Why the U.S. Housing Market May Finally Be Stabilizing

After years of surging home prices, limited inventory, and punishingly high mortgage rates, the U.S. housing market is beginning to show early signs of balance. Analysts at Ned Davis Research (NDR) recently noted several encouraging shifts that suggest the market may be nearing a bottom — a stage that could set the stage for renewed buying activity after years of stalled demand.

A Market Tipped Toward Sellers

The imbalance between buyers and sellers has reached its widest point in more than a decade. According to Redfin, there are now 36% more sellers than buyers, the largest gap since at least 2013. This mismatch has highlighted just how frozen the market has become, with many buyers priced out and many sellers unwilling to budge on historically high prices.

Yet, within this slowdown, NDR points to four positive developments that could ease pressure on the market.

1. Supply and Demand Are Slowly Aligning

A lack of housing supply has been one of the biggest drivers of home price growth. But the shortage is shrinking.

NDR estimates that the U.S. will add about 1.3 million new housing units in 2025, while demand slows to around 850,000 units amid a sharp pullback in household formation. That would leave the U.S. 1.1 million homes short by year’s end, compared with a 1.6 million shortage at the beginning of the year.

While still a deficit, the smaller gap could start to ease some of the pricing pressure that’s defined the last five years.

2. Vacancy Rates Are Returning to Normal

Both rental and homeowner vacancies have inched higher, giving buyers and renters more options.

NDR estimates that rental vacancy rates are now back to a “normal” level of 7.0%, while homeowner vacancies sit near 1.5%. For context, a LendingTree study earlier this year estimated nearly 15 million vacant homes nationwide, underscoring how empty properties have constrained available supply.

With vacancies normalizing, more inventory could reach the market, helping rebalance demand.

3. Housing Affordability Is Improving — Slightly

One of the clearest measures of affordability is the ratio of median home prices to median household income. At its peak, that ratio hit 5.4, even higher than during the 2006 housing bubble. Today, it has cooled to 4.9, NDR reports.

Home prices have eased from their highs — dipping from $442,600 in 2022 to $410,800 in early 2025 — while personal incomes have risen about 5% over the past five years. Although affordability remains strained, the trend is finally moving in the right direction.

4. Housing Looks Cheaper Relative to Other Benchmarks

Another encouraging sign: housing values are falling compared with replacement costs and stock market capitalization.

NDR calculates that the value of household real estate relative to replacement costs slipped to 169.5% in Q1 2025. At the same time, real estate values relative to domestic stock market capitalization eased to 69.8%.

Though construction costs remain high — influenced by tariffs and rising labor costs — the relative decline suggests housing is gradually becoming less overvalued compared with other assets.

The U.S. housing market is still far from “cheap.” Prices remain historically high, and affordability challenges continue to weigh on first-time buyers. But with supply improving, vacancies normalizing, incomes climbing, and valuations cooling, the pieces of a healthier market may finally be falling into place.

As NDR’s Joe Kalish summarized: “The housing market is coming into better balance. Prices are expensive, but house price growth is slowing.”

For weary buyers, that may be the first real glimmer of hope in years.

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Louisiana’s Bollinger Shipyards to Build Floating Rocket Landing Platform for Rocket Lab

Bollinger Shipyards, a nearly eight-decade-old Louisiana company best known for building vessels for the commercial, military, and government sectors, is entering the space race. The company has been tapped by Rocket Lab, a California-based aerospace firm, to convert a barge into a floating landing platform for reusable rockets.

The project, which began earlier this summer, will transform a 400-foot vessel into a high-tech ocean platform equipped with thrusters for stability, remote-control systems, and blast shields designed to withstand rocket exhaust. Once completed, the platform — aptly named “Return on Investment” — will support Rocket Lab’s Neutron rockets along the East Coast near the company’s Virginia launch site.

“Partnering with Rocket Lab on this venture highlights not only the innovation happening in space flight, but also the adaptability of American shipbuilding,” said Bollinger Shipyards President and CEO Ben Bordelon.

The work is taking place at Bollinger’s Amelia, Louisiana facility and is expected to wrap up in 2026. The vessel will play a critical role in Rocket Lab’s push to develop a reusable rocket program, putting the company in direct competition with industry giants like Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin.

Rocket Lab’s Neutron rocket stands 141 feet tall and is capable of carrying payloads of up to 13 tons into orbit. The company envisions it as a workhorse for satellite launches and national security missions.

“This project modernizes Gulf Coast shipyard capabilities while positioning Louisiana to contribute directly to the future of aerospace,” said Shaun D’Mello, Rocket Lab’s vice president.

Bollinger has built more than 4,000 vessels since its founding in 1946 and remains one of the largest employers in the bayou parishes, with annual revenues exceeding $1 billion. Its new contract with Rocket Lab is the latest example of Louisiana’s deep ties to the space industry.

Just outside New Orleans, NASA’s Michoud Assembly Facility has been a hub for rocket construction for more than 60 years. Local leaders say Bollinger’s new project continues that legacy in a rapidly expanding commercial market.

“As commercial space exploration accelerates, recovery and support missions at sea will become increasingly important,” said Josh Tatum of Greater New Orleans Inc. “Louisiana is well-positioned to be part of that future.”

Founded in 2006 in New Zealand by Peter Beck, Rocket Lab relocated its headquarters to California in 2013 and has since grown into a global competitor with about 2,000 employees. The company has already launched more than 200 satellites and recently inked a deal with the European Space Agency, which helped push its stock to a record high this summer.

With the “Return on Investment” platform under construction in Louisiana, Rocket Lab is betting on a new era of reusable rockets — and Bollinger Shipyards is ensuring the Gulf Coast has a front-row seat in the race to space.

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