Mortgage Rates Hold Steady at Lowest Level Since last Fall - and Why It Matters
A sweet spot for smart buyers. Rate stability meets the fall market’s softer pace - giving you the chance to make a move without the heat of peak-season bidding wars.
Good news for buyers: According to Bankrate’s latest lender survey, 30-year fixed mortgage rates dipped to 6.63% last week—the lowest since October 2024—and they’ve held steady since. Check HERE for more details.
In today’s market, stability can be just as exciting as a drop. Here’s why.
1. Stability Builds Confidence
When rates swing wildly, it’s harder to plan your budget with certainty. A steady rate gives you the breathing room to run the numbers, shop with confidence, and make offers without worrying that your monthly payment will change overnight.
2. More Buying Power
Even a small drop in rates can make a big difference in affordability. At 6.63%, many buyers can stretch their budget further—or simply enjoy a lower monthly payment on the home they already had in mind.
3. Potential for Further Easing
Many market analysts expect rates could edge even lower later this year, especially if inflation continues to cool. That doesn’t mean you should wait on the sidelines indefinitely—but it does mean we could be entering a more favorable stretch for buyers.
4. A Sweet Spot for Action
Right now, we have a rare combination: improved affordability and a stable rate environment. This gives you the chance to shop strategically without the bidding war intensity that often comes when rates suddenly drop and buyer demand spikes.
Bottom Line
Mortgage rates haven’t been this low in nearly a year, and the fact that they’re holding steady is great news for buyers who want to move forward with confidence. Whether you’re ready to start the search now or simply want to understand what’s possible, this could be the right time to explore your options.
Let’s connect!
I’ll help you run the numbers, explore your financing options, and put a smart plan in place—so when you find the right home, you can move fast.
📞 614-975-8370 | 📧 teresakenney@kw.com | 🌐 teresakenneyrealty.com
