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If youâve been holding out for mortgage rates to take a nosedive⌠you might be waiting a while. While weâd all love to see 3% rates again, the reality is, experts say rates are likely to stay right around the midâ6% range through 2025âand thatâs not necessarily a bad thing.
So letâs break it down: whatâs actually going on with rates, and what does it mean for your next move?
đ Mortgage Rates Are Settling In the 6sâAnd Thatâs OK
According to projections from Fannie Mae, MBA, and Wells Fargo, the average 30-year fixed mortgage rate is expected to hover between 6.4% and 6.7% through mid-2026. Hereâs what that looks like:
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đ¤ Should You Wait for Rates to Drop Lower?
That depends. If youâre hoping for a âbig crashâ or another 2020-level dip, experts say: donât hold your breath.
âIf youâre looking for a substantial interest rate drop in 2025, youâll likely be left waiting.â â Yahoo Finance
And hereâs the truth: While youâre waiting for something that may never happen, someone else could be locking in a home they loveâwith monthly payments that still fit their budget.
đĄ Hereâs the Smart Play
If you find the right home at the right price in the right neighborhoodâdonât let todayâs rate stop you.
Why?
Because refinancing later is always an option. But missing out on the home that checks every box? That could sting.
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đ˛ Want to Stay Ahead of the Market? Weâve Got You
Whether youâre buying, selling, or still on the fence, one thingâs for sure: having a knowledgeable, responsive real estate agent makes a world of difference. Especially in a market where small changes in rates can mean big shifts in affordability.
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Call or text us today at 855-935-MORE. Weâre ready to help you make the smart move.
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