Category: real-estate

Before You Fall in Love with a House – Do This

You don’t have to be ready to buy to be ready to buy.

Be honest. Have you started looking at homes online or in person? If you have, it’s already past time to get pre-approved. Here’s why.

If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – you don’t want to wait to find out what you can afford and what lenders are willing to loan you.

No matter what you’ve heard, pre-approval isn’t about commitment. It’s about clarity.

Here are the two big ways pre-approval sets you up for success. 

You Know Your Numbers Up Front 

During the pre-approval process, a lender will walk through your finances and tell you what you can borrow based on your income, debts, credit score, and more. Once you have that number, your search becomes a lot more focused.

With a mortgage pre-approval, you know what you can borrow, so it’s easier to figure out your ideal price point, and what you can actually afford. And that clarity is key.

Because if you just start browsing online or going to open houses just guessing at your price point, you run the risk of falling for a house that’s outside of your price range – and missing out on ones that are.

You want this number to be clearly defined before your search. Here’s why.

You Can Move Quickly When You Find the One

This is how a lot of home searches go today. You scroll through listings just to see what’s out there, and then it happens. You fall in love with something you’ve seen online.

If you’re already pre-approved? You’re probably in great shape.

But if you’re not…

Instead of being able to quickly make an offer, you have to scramble to get a lender, gather the financial documents, and then submit the necessary pre-approval paperwork first. And while you’re waiting to hear back from your lender, someone else who’s more prepared could beat you to the house. As Bankrate explains

“The best time to get a mortgage preapproval is before you start looking for a home. If you find a home you love but don’t have a preapproval in hand, you likely won’t have time to get preapproved before you need to make an offer . . .”

And that’s avoidable, with the right prep.

While you can’t control when the right home will show up, you can be ready for it. Think of it like showing up to the starting line with your shoes tied and your warm-up done – while everyone else is still looking for parking.

It’s not about rushing your timeline. It’s about removing the delay between finding the right home and being able to move on it.

One Thing You Need To Know About Pre-Approvals

Speaking of timing, pre-approvals do have an expiration date. So, be sure to ask your lender how long it’s good for. The Mortgage Reports explains:

“Mortgage preapproval letters are typically valid for anywhere from 30 to 90 days. However, a preapproval can be updated and extended if the lender re-checks your information.”

Doing the right prep and knowing this information can make the whole process a lot smoother.

You don’t have to be ready to buy to be ready to buy.

Getting pre-approved doesn’t mean you’re committing to buy right now. It just means you’ve taken a step to understand your numbers. And when a home catches your attention, you’re prepped and good to go.

Bottom Line

So, ask yourself this: if your perfect home popped up tomorrow, would you be ready to make a move?

If the answer is no and you’re thinking about buying, it may be time to get pre-approved. You don’t feel behind before your search even officially kicks off.

If you don’t already have a lender, just let us know. We can connect you with several trusted professionals who have worked with many of our buyers and consistently delivered excellent service.

You can always find us at 508-388-1994 (Mari and Hank) or 781-423-8662 (Colleen).

If you have buying on your mind, let’s talk soon…

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Coming Soon: The Best Week to List Your House!

Realtor.com says there’s one window where the stars really seem to align year after year.

While the spring season consistently offers up some of the best conditions for home sellers, Realtor.com says there’s one window where the stars really seem to align year after year. And it’s coming up fast.

Based on their analysis of historical trends, the ideal week to put your house on the market this year is: April 12–18.

And here’s why this window stands out as being particularly seller-friendly:

  • Buyers Are More Active. According to the research coming out of Realtor.com, homes listed during this week typically get about 16.7% more views than in a normal week. And in a market where buyers have options, getting that extra attention can set the tone for your entire sale.
  • Sales Happen Faster. Realtor.com also explains the added demand from buyers sets you up for a faster process. While homes have been taking longer to sell lately, homes up for sale this week were on the market for 17% less time than usual. And that’s a difference you’ll be able to feel.
  • A Better Price for Your House. Since the number of homes for sale has grown, it’s normal for buyers to ask for credits, repairs, and price adjustments today. But, during this early Spring window, about 18.9% fewer homes do a price cut. That gives you a better chance of getting your full asking price.
  • More Profit in Your Pocket. According to the study, well-prepped homes listed this week can command a price that’s about $5,300 more than the average week (and $26,000 more than homes at the start of the year).

And who doesn’t want more eyes on their house, getting an offer in hand sooner (rather than later), and their best shot at selling for top dollar?

What You Need To Do To Get Ready

If you’re already thinking about selling and you want to take advantage of this sweet spot, your next step is shockingly simple. Just give us a call now. You can always find us at 508-388-1994 (Mari and Hank) and 781-423-8662 (Colleen).

Our expertise is going to be key over the next few weeks. We’ll help you figure out what you need to do now to get your house ready. Including:

  • What you’ll want to spruce up before listing
  • How to prioritize any repairs (and contractors that can help)
  • Quick wins that’ll have a big impact
  • What buyers care most about today
  • For some sellers, that’s a few easy fixes they can knock out in the next couple of weeks. A fresh coat of paint. Some new mulch. Or some light Spring cleaning.

For others, it’s worth taking another month or so to make some minor updates before listing. And that’s okay. Because while this mid-April window may give sellers an advantage, it’s not your only opportunity to sell.

And don’t forget…Colleen was on the staff the This Old House TV program. So, she knows a thing or two about this.

Bottom Line

Getting your house on the market in mid-April may give you an extra edge, but the bigger opportunity is the Spring season as a whole. The real question is:

Do you know what you need to do before you can list?

Because it’s officially go-time for any seller planning a Spring move.

If you want your house to hit the market during the “best” week (or even this season), let’s talk about what it’ll take to get it ready.

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Three Must-Do’s for Buying Your First Home

If you currently own and are getting ready to buy for the first time in years, this checklist is a good place to start.

Buying your first home is an exciting time, but it can also be a little nerve-wrecking because it’s something you’ve never done before. And trying to think of everything you need to do can feel like a lot. But here’s the key.

You don’t have to figure everything out on your own. And you don’t have to do it all at once. Just tackle it one thing at a time.

Here’s a simple list of three items you should focus on to help you get started.

1. Assemble Your Team: Don’t Do This Alone

Buying a home is a team sport. And having the right professionals by your side can make a world of difference. Here’s who you need to find: 

  • A local real estate agent. We can be your guide from the first showing to closing day. We’ll make sure you understand all the details along the way, so you feel confident in your decision.
  • A trusted lender will walk you through loan options, monthly payments, and what’s realistic for your situation. That information is something you’re going to want early on. We can recommend reputable local lenders who we work with on a regular basis.

2. Prep Your Finances: Set the Foundation First

This is what determines what you can afford, how competitive you’ll be, and how confident you’ll feel when it’s time to make an offer. Here’s how to get ready: 

  • Check your credit score. Your credit score impacts the loan options you’ll qualify for and even the mortgage rate you’ll get. Knowing this number early gives you time to work on raising your score, if its necessary.
  • Save for your down payment and closing costs. Most buyers focus on the down payment, but closing costs can sometimes matter, too. Having savings set aside for both helps you avoid last-minute stress and surprises.
  • Look into assistance programs. Many first-time buyers qualify for programs  that will give their homebuying savings a boost. This can make buying possible sooner than you expect.
  • Talk to a lender about mortgage options. Fixed-rate, adjustable-rate, FHA, VA, and conventional loans all work differently. Understanding the options helps you choose what fits your goals best.
  • Get pre-approved. A pre-approval tells you what a lender would be willing to give you for your home loan. This’ll help you figure out your price range and set you up to move fast when the right home comes along.
  • Figure out your budget. Your mortgage is just one part of homeownership. Budgeting for your utilities, home insurance, and everyday expenses and maintenance will help make sure your payment feels comfortable, not stressful.

3. Gather Your Documents: Save Time (and Stress)

When you’re officially ready to kick off the buying process, lenders are going to need to verify your income, assets, and financial history. Having these documents ready-to-go upfront can speed up the process and reduce back-and-forth. Here’s what Bankrate says you need to prep:

  • W-2s and tax documents (past 2 years). These show income stability and help lenders verify your earnings over time.
  • Recent pay stubs (generally the past 1–2 months). Pay stubs confirm your current income and employment status.
  • Bank statements (past 2–3 months). These show your savings, spending patterns, and where your down payment funds are coming from.
  • Investment account statements (past 2-3 months). If you’re using investments as part of your financial picture, lenders may ask for these as well.
  • Copy of your driver’s license. This verifies your identity and is required for loan processing.
  • Residential history (past 2 years). Lenders use this to confirm stability and background information.
  • Statements for any outstanding debts (past 2 months). Student loans, auto loans, and credit cards affect your debt-to-income ratio, so lenders will want to know about them.
  • Proof of supplemental income. Bonuses, commissions, side work, or child support may count toward your income if documented properly.

Note: the exact time frames and list of documents may vary lender to lender. This is just a general rule of thumb to help you get the ball rolling.

Bottom Line

Buying your first home doesn’t mean you have to have everything figured out. It just requires a plan.

If you currently own and are getting ready to buy for the first time in years, this checklist is a good place to start, too.

If you begin with your finances, organize your documents, and surround yourself with the right people, you’ll be in great shape when the time comes to make a move.

If you want more information on anything on this list or just need help getting started, don’t hesitate to reach out. You can always find us at 508-388-1994 (Mari and Hank) or 781-423-8662 (Colleen.)

We’re happy to help…

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Let’s Talk about Foreclosures

It’s about perspective, not panic.

Your Uncle Bob, who “knows a little something about real estate,” is telling you that foreclosures are ticking up. He says that you should wait to buy until you can get a good deal.

Is he right?

Not really.

It is true that foreclosures are rising. But they are nowhere near the crisis level that Bob is suggesting. Here’s why.

Take a look at serious delinquencies – loans where the homeowner is more than 90 days late on their mortgage payments.

While those have increased slightly, data from the New York Fed shows they still remain low. And they aren’t anywhere close to levels seen when the market crashed (see graph below):

Right now, about 1% of mortgages are seriously delinquent. That’s only 1 in 100.

In the years around the crash, they were up around 9%. That’s 1 in 11.

That’s a big difference.

And it’s important to remember not all delinquencies even become foreclosure filings. Some homeowners who are falling behind will work out repayment plans with their banks and lenders because banks don’t want to see a wave of foreclosures either.

That’s why foreclosure numbers are even lower than delinquencies. ATTOM shows only 0.3% of all homes are currently going through a foreclosure filing. And some of those won’t even all go to a full foreclosure. That’s not a wave. That’s a ripple at most.

If People Are Falling Behind on Payments, Why Aren’t There Even More Foreclosures?

Maybe you’re wondering, if people are struggling financially, why aren’t there more foreclosures? Here’s the easiest way to answer that.

When households feel financial pressure, they tend to prioritize their mortgage payment above almost everything else. Because the last thing they want to lose is their home.

More data from the New York Fed shows serious delinquencies have risen more for credit cards and auto loans (the blue and green lines). But mortgage delinquencies and home equity lines of credit (borrowing against the value of your home) aren’t seeing the same big uptick (the yellow and orange lines). They’re a lot more stable overall.

In other words, people may fall behind on other debts, but they fight hard to keep their homes. And, in today’s housing market, they’re also in a strong equity position to do so.

Home Equity Changes Everything

Many people have built significant equity over the past several years. And that creates options. As Daren Blomquist, VP of Market Economics at Auction.com, explains:

“Distressed homeowners… many times they still have equity in their homes. There’s an opportunity for them to sell that home, avoid foreclosure, and walk away with equity.”

That’s a major difference from 2008. Back then, many homeowners owed more than their homes were worth. And selling wasn’t an easy solution. Today, for many people, it is. And even in situations where equity isn’t enough, homeowners are encouraged to contact their loan servicer early to explore alternatives to foreclosure.

Bottom Line

Are foreclosure filings rising slightly? Yes. Are they anywhere near crash territory? No. And homeowners today have far more equity and flexibility than they did during the crash.

If you’re concerned about what you’re seeing in the headlines, the best move isn’t panic, it’s perspective. And the data right now says this isn’t 2008 all over again.

If you’re not sure that this is the right time for you to make a change, you can always find us at 508-388-1994 (Mari and Hank) or 781-423-8662 (Colleen). We can walk you through your options.

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Mortgage Rates at 3 Year Low!

A mortgage rate affects more than just the interest you pay on your home loan.

If you’re one of the thousands of homebuyers waiting for rates to fall, you should know it’s already happening. Rates recently crossed an important milestone when they officially dipped their toes into the 5s – something that hasn’t happened in about three years.

This moment marked a critical threshold. Now, rates are sitting in the low 6% territory. And forecasts by the experts project they’ll hover near this range throughout the year.

Here’s why that’s so good for you.

Why It’s Such a Big Deal

A mortgage rate impacts more than just the interest you pay on your home loan. It shapes your entire buying experience.

When rates were up around 7% just one year ago, a lot of buyers felt priced out. Payments were higher. Budgets felt tighter. Affordability was a bigger challenge. That’s especially true for first-time homebuyers, who felt the biggest pinch.

But according to industry experts, that’s starting to change now that rates are slowly inching down. Let’s break down why.

Right now, borrowing costs are in their lowest range in almost three years. And that can change the type of home you can afford.

At 6% or below, you’ll see:

  • Lower monthly payments. The payment on a $400k home loan is down over $300 compared to when rates were around 7%.
  • More buying power, thanks to the extra breathing room in your budget.

So, you can now make a stronger offer, purchase in a different location, or buy a home that checks more of your boxes. And that feels like a big shift compared to when rates were at 7%.

This Opens the Door for Millions of Buyers

To drive home just how much this helps potential homebuyers, consider research from the National Association of Realtors (NAR). It shows that when mortgage rates are at this level, millions more households can afford a home. When rates are at 6% or below:

  • 5.5 million more households can afford the median-priced home
  • And roughly 550,000 of those people will likely buy a home within 12 to 18 months

This isn’t speculation. That’s pent-up demand finally getting a green light. You have the chance right now to get ahead and buy before more people notice the game has changed.

Because whether rates stay in the low 6s or dip back down into the upper 5s, the math is already working in your favor. And the difference from a low 6% to a high 5% isn’t as big as you may think. But the difference from 7% to 6%? That is a very big deal, and it’s a number that’s already working in your favor.

Mortgage rates don’t operate in a vacuum. Home prices, local inventory, property taxes, home insurance, and your personal finances still matter.

Remember a rate in this territory doesn’t mean every home suddenly works for every buyer. That’s why getting pre-approved and running your numbers with a trusted lender is key. If you do not have a lender, please let us know. We can recommend several.

Bottom Line

Mortgage rates dropping to a 3-year low isn’t just a headline.

For many buyers, where rates are now could be the difference between watching from the sidelines and finally getting the keys to their next home.

If you’ve been waiting for a sign to re-run your numbers and see what’s possible now, this is it.

Let’s connect and take a look at what today’s rates mean for your budget and your options.

Mari, Hank, and Colleen

508-388-1884 (Mari and Hank)

781-423-8662 (Colleen)

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Is a Myth about Credit Scores Holding You Back?

Even though a lot of people assume you need flawless credit to buy a house, that’s not necessarily the case.

Many would-be homebuyers aren’t sitting on the sidelines because they don’t want to buy. They’re sitting out because they think they can’t buy because of their credit scores.

According to a Bankrate survey, 2 out of every 5 (42%) Americans believe you need excellent credit to qualify for a mortgage. That may be why, when renters are asked why they don’t own, “my credit isn’t good enough” is often the answer.

Maybe you’re in the same boat. You look at your score, see it’s not where you want it to be or think it should be, and assume buying your first place just isn’t realistic right now.

But here’s what you need to know.

Even though a lot of people assume you need flawless credit to buy a house, that’s not necessarily the case.

You Don’t Need Perfect Credit To Buy a Home

So, where’s this myth come from? Part of the confusion stems from the fact that the typical homebuyer today does have a fairly strong credit score. In fact, according to data from the NY Fed, the median credit score for all buyers is 775.

But that doesn’t mean you need a score that high to qualify.

Looking at recent homebuyers, a number were able to get a mortgage with scores below that threshold. Data shows 10% of scores were around 660. Which means some were higher than that and some were lower, but the median in that lowest 10th percentile was around that range (see graph below):

So, even if your score isn’t as high as you want, that doesn’t automatically close the door. FICO explains that there is no universal credit score you absolutely have to have when buying a home:

“While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single ‘cutoff score’ used by all lenders, and there are many additional factors that lenders may use . . .”

The best thing to do is to talk to a trusted lender to see what’s possible for you. Because a portion of buyers are buying with scores in the 600s – and maybe that means you can too.

Bottom Line

Your credit score is important. But that doesn’t mean it has to be perfect.

If credit has been the reason you’ve been waiting to buy a home, it’s probably time to take another look at your options. If you want help understanding where you stand and what your next step could be, connect with a local lender. We have worked with several and can pass on their contact information. Just reach out to us at 508-388-1994 or msennott@todayrealestate.com.

You won’t know where you stand unless you start a conversation.

Mari and Hank

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Your Home Is On Someone’s Wish List

Those shopping in the winter are motivated — often moving because of a job relocation, a change in financial situation or family needs.

When the holidays roll around, travel plans, family gatherings, and all the chaos of the season may make you think it’s better to pull your listing off the market or to wait until 2026 to begin selling your house. But here’s the thing….

…waiting could mean missing out on a great window of opportunity. Because while other sellers are stepping away, you can lean in – and that might actually give you the edge. Here are four reasons why selling now could be a good bet. 

1. Buyers This Time of Year Are Serious

Don’t let the season fool you. While casual browsers tend to step back around the holidays, serious buyers stay in the game. The people looking for homes right now usually aren’t just browsing. They’re ready to make a move and they sometimes want to close before the new year. As Zillow says:

“While more buyers have tended to shop in the spring and summer months, those shopping in the winter are likely to be motivated — often moving because of a job relocation, change in financial situation, or change in family needs.”

Their timelines are real and missing them would create a hassle for the buyer, so they’re eager to get the deal done. And that’s exactly the kind of buyer you want to work with.

2. You Have Control Over Your Schedule (and Showings)

Some homeowners decide not to sell this time of year because they don’t want to juggle showings during the holiday rush. They’re anticipating traveling to see family and thinking about buyers in their home only adds another layer of complexity. 

But here’s what no one’s reminded them. You can control your showings and can set times that work for your schedule. You don’t have to stop your plans to keep your sale on track. We can help you manage your calendar, your showings, and your stress level.

3. Other Sellers May Step Back, Which Means Less Competition

Because fewer sellers tend to list this time of year, the number of homes for sale usually falls a bit. Lisa Sturtevant, Chief Economist at Bright MLS, explains:

“As we approach the end of the year, listing activity tends to slow and would-be sellers decide to wait until after the new year to list . . .”

And in a year when inventory has been steadily rising, that seasonal slowdown works in your favor. With the potential for fewer sellers, your house will stand out. So, a seasonal dip in listings could help you be noticed, especially if your home is priced right and presented well.

4. Homes Decorated for the Holidays Can Feel More Inviting

You may not realize it, but seasonal decor can actually help you appeal to buyers. Maybe it’s that they have an easier time picturing themselves making memories in the home. Maybe it just feels cozier and more inviting. Whatever the reason, it works. Sometimes tasteful seasonal touches can make it easier to sell your house.

But don’t go overboard. Keep your choices simple to let your home’s charm shine through.

Bottom Line

There are plenty of good reasons to put (or keep) your house on the market during this time of year.

If you want to talk strategy for how to make the most of this season, let’s connect. You can find us at 508-388-1994 or msennott@todayrealestate.com.

We’re here to help…

Hank’s first book of short stories– “Chances: Stories and Memories Real and Imagined” has been published. I’m hosting a Book Launch/Signing this Saturday from 3:00pm – 6:00pm at Holly Ridge Golf Course in Sandwich. If you can, please come and support Hank. (The invitation is below.)

If you can’t make it, “Chances” is available on Amazon, which describes the book as a: “heartfelt and richly woven collection of short stories and personal reflections that explore the fragile, funny, and deeply human moments that shape a life.”

Thanks.

Mari

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

What You Need to Tell Uncle Bob

Well-meaning family and friends will have “advice” this week about your decision to buy, sell, or both.

This week many of us will be gathering with family and friends to celebrate Thanksgiving.

If you’re think about buying a home for the first time or selling your current one to upsize, downsize or move to that “someday” neighborhood, well-meaning relatives and friends — like your Uncle Bob who “knows a little something about real estate” — will have their opinions.

So, here’s what you need to know.

1. Mortgage Rates Have Been Coming Down

Mortgage rates are always going to have their ups and downs – that’s just how rates work. Especially with the general economic uncertainty right now, some volatility is to be expected. But, if you zoom out, it’s the larger trend that really matters most.

And overall, rates  have been trending down for most of this year (see graph below):

 According to Sam Khater, Chief Economist at Freddie Mac:

“On a median-priced home, this could allow a homebuyer to save thousands annually compared to earlier this year, showing that affordability is slowly improving.”

Here’s why that matters for you. This shift changes what you can actually afford. It means lower borrowing costs and more buying power. Take this as an example.

2. More Homeowners Are Ready To Sell

For a while, many homeowners stayed put because they didn’t want to give up their low mortgage rate. That “lock-in effect” kept inventory tight. And while plenty of homeowners are still staying where they are today, the number of rate-locked homeowners is starting to ease as rates come down. Life changes are becoming a bigger part of what’s driving more people to move, and that’s opening up more inventory.

Data from Realtor.com shows just how much the number of homes for sale has grown. And the really interesting part is that the market is approaching levels that haven’t been seen for the past six years (see the blue on the graph below):

That return to more normal inventory levels is a really good thing. It gives buyers more options than they’ve had in years. And it’s helping to bring the market closer to balance.

3. More Buyers Are Re-Entering the Market

And it’s not just sellers making moves. With more options and slightly better affordability, buyers are getting back in the game, too. The Mortgage Bankers Association (MBA) reports purchase applications are up compared to last year, a clear signal that demand is building again (see graph below):

Bottom Line

After several slower-than-normal years, the market is finally starting to turn a corner. Declining mortgage rates, more listings, and growing buyer activity all point to a market gaining real traction.

So, no matter what Uncle Bob may tell you, this really is a good time to take action and make the change you know you need to.

Please enjoy the holiday with family and friends.

…and if you’d like we’ll talk to Uncle Bob!

Mari and Hank

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

The $280 Shift

This could be the difference between “not yet” and “let’s go!”

If you paused your plans to move because of high rates or prices, it may finally be time to take a second look at your numbers. Affordability is improving, according to First American. And that’s the fifth straight month where buying a home has started to get a little bit easier.

Let’s break this down into real dollars, so you can see the difference this could make for you (and your move).

Monthly Payments Are Coming Down

One of the clearest signs of this shift is in monthly payments. The latest data from Redfin shows mortgage payments on a median-priced home are now $283 lower than they were just a few months ago (see graph below):

This kind of monthly savings adds up fast, and totals nearly $3,400 over the course of a year.

Please remember that the median price is the price in the middle. There are just as many homes available below that price as above. So, don’t be put off by that figure. There are homes in your price range!

While this drop isn’t enough to totally change the affordability game overnight, think about it this way. When you’re putting together a home buying budget, a few hundred dollars may be the difference between being comfortable buying a home and feeling like money is still a bit tight.

And from a home-search perspective, it may even be enough to change the price point you can look at.

And that’s a big deal if you haven’t found a home you love in your price range yet. It gives you a little more flexibility to find the one that’s right for you.

Either way, that’s a big win.

What’s Behind the Shift?

Three key factors are working in your favor right now:

  • Mortgage rates have eased from their high earlier this year
  • Home price growth is slowing in many markets
  • Inventory is increasing

All these help your bottom line and give you some breathing room if you’re buying a home. As Andy Walden, Head of Mortgage and Housing Market Research at ICE Mortgage Technology, says:

“The recent pullback in rates has created a tailwind for both homebuyers and existing borrowers. We’re seeing affordability at a 2.5-year high . . .”

Whether you’re a first-time homebuyer or someone looking to move up into a bigger house, the shifts happening this year could make your move possible.

For you, the savings could be the difference between “not yet” and “let’s go.”

Bottom Line

If you’ve been sitting on the sidelines, this is your cue to start looking again. So, contact your lender to see how much you can afford today and then connect with us to see what’s currently available that might suit your needs. You can find us at 508-388-1994 or msennott@todayrealestate.com.

We’re here to help…

Mari and Hank

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

What to Expect Next Year

Mortgage rates could continue to ease.

After a couple of years where the housing market felt stuck in neutral, 2026 may be the year things shift back into gear. Expert forecasts show more people are expected to move – and that could open the door for you to do the same.

More Homes Will Sell

With all of the affordability challenges at play over the past few years, many would-be movers pressed pause. But that can’t last forever. There are always people who need to move. And experts think more of them will start to act in 2026 (see graph below):

What’s behind the change? Two key factors: mortgage rates and home prices. Let’s dive into the latest expert forecasts for both, so you can see why more people are expected to move next year.

Mortgage Rates Could Continue To Ease

The #1 thing just about every buyer has been looking for is lower mortgage rates. And after peaking near 7% earlier this year, rates have started to ease.

The latest forecasts show that could continue throughout 2026, but it won’t be a straight line down (see graph below):

There’s a saying: when rates go up, they take the escalator. But when they come down, they take the stairs. And that’s an important thing to remember. It’ll be a slow and bumpy process.

Expect modest improvement in mortgage rates over the next year but be ready for some volatility. This can happen as new economic data comes out. Just don’t let it distract you from the bigger picture: the overall trend will be a slight decline. Forecasts say we could hit the low 6s, or maybe even the high 5s. Your rate could be even lower depending on your individual situation.

And remember, there doesn’t have to be a big drop for you to feel a change. Even a smaller dip helps your bottom line.

If you compare where rates are now to when they were at 7% earlier this year, you’re already saving hundreds on your future mortgage payment. And that’s a really good thing. It’s enough to make a real difference in affordability for some.

Home Price Growth Will Be Moderate

What about prices? On a national scale, forecasts say they’re still going to rise, just not by a lot. With rates down from their peak earlier this year, more buyers will re-enter the market. And that increased demand will keep some upward pressure on prices nationally – and prevent prices from tumbling down.

So, even though some markets are already seeing slight price declines, you can rest easy that a big crash just isn’t in the cards. Thanks to how much prices rose over the last 5 years, even the markets seeing declines right now are still up compared to just a few years ago.

Of course, price trends will depend on local markets. Inventory is a big driver in why some places are going to see varying levels of appreciation going forward. But experts agree we’ll see prices grow at the national level (see graph below): 

This is yet another good sign for buyers and overall affordability. While prices will still go up nationally, it’ll be at a much more sustainable pace. And that predictability makes it easier to plan your budget. It also gives you peace of mind that prices won’t suddenly skyrocket overnight.

On Cape Cod we continue to deal with over pricing which gives the impression with each “improvement” that prices are falling. That’s not the case. Asking prices are just being brought down to where they should be. (And not at the level a neighbor got three years ago.)

Remember, prices in one market may not be the same in another. If the cost of a home on Cape Cod, for example, is too steep for you, there are other parts of the Massachusetts or nearby Rhode Island, for example, that may better fit your budget. In fact, you may be able to afford more house elsewhere.

If you’re interested in expanding your search, Today Real Estate now reaches other parts of Massachusetts and the rest of New England. Mari will also be getting her Rhode Island real estate license soon. Please let us know how we can help.

Bottom Line

After a quieter couple of years, 2026 is expected to bring more movement – and more opportunity. With sales projected to rise, mortgage rates trending lower, and price growth slowing down, the stage is set for a healthier, more active market.

So, the big question: will you be one of the movers who makes 2026 your year?

Let’s connect if you want to get ready. It’s mid-October. 2026 is a little more than two months away.

You can find us at 508-388-1994 or msennott@todayrealestate.com. We’re happy to help.

Mari and Hank

PS: The latest edition of our Mashpee TV program “How’s the Market?” features Patti Lotane from Cape Cod Five, who will be talking about mortgage rates. We’ll be posting it soon on our social media platforms. Please watch for it.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.