Category: Today Real Estate

Why Now Is a Key Moment to Sell Your Home

As affordability improves, so does buyer demand.

Mortgage rates are finally heading in the right direction – and buyers are starting to jump back in.

According to the data, buyer demand picked up considerably once mortgage rates hit a new low for 2025. The Mortgage Bankers Association (MBA) reports that applications for home loans were up 23% compared to the first week of September last year.

If you’ve been waiting to sell, or your listing recently expired because the market was slower than you hoped it would be, now’s the time to reconsider your move. Buyer demand is the highest it’s been since July – and you don’t want to miss this window.

When Rates Drop, Buyers React

Here’s what’s happening. The 30-year mortgage rate has dropped nationally to 6.13%. And that’s the lowest it has been since October 2024. On Cape Cod, banks like Cape Cod Five are offering even lower rates.

That decline followed weak job growth and other economic indicators. The Federal Reserve cut the Federal Funds Rate last week and experts speculate that they may do it again before the year is out. And that opens the door for more buyers to act.

Since today’s buyers are looking at every angle to make home purchases more affordable, they’re much more sensitive to even the slightest movement in mortgage rates. Basically, it boils down to this. As affordability improves, so does buyer demand (see graph below):

And that’s a change you’re going to feel – in a good way. Since about this time last year, we’ve been in a plateau of “limited” buyer demand. But now that rates are coming down, buyer demand is getting better.

What This Means for You

If you’re looking to move, it’s time to get serious about what’s happening in the market, and how you can use these key moments to your advantage. Maybe you have an expired listing that sat without offers earlier this year, or you held off on selling altogether, thinking buyers weren’t out there. This is your signal – they’re coming back. Now, it’s not in the big surge the market saw a few years ago, but this could be your window.

Here’s the opportunity. You can list, while buyer activity is rising and before more sellers in your neighborhood do too. Other homeowners may not see this shift for a while, so you can get a leg up on your competition if you act now.

On the flip side, if you wait, sure there may be more buyers if rates continue to inch down. But there are also going to be more sellers too. So, why take that risk?

We can assess your home’s market value, fine-tune your pricing strategy, and make sure it stands out to the serious buyers who are taking action today. And remember, what your neighbor got three years ago for their home is not relevant to today’s market.

Bottom Line

Buyers are watching rates, weighing their options, and starting to get off the sidelines. If you’re thinking about selling, this may be your chance to get ahead.

Want to make sure your house shows up for the right buyers, at the right time?

Let’s connect and walk through the steps together so you can make the most of this moment. You can find us at 508-388-1994 or msennott@todayrealestate.com. We’re ready 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.

Mortgage Rates Just Saw Their Biggest Drop in a Year

If you’ve been feeling stuck, this is the break you’ve been waiting for.

You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way.

On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest since October 2024. It was the biggest one-day decline in over a year.

What Sparked the Drop?

According to Mortgage News Daily, this was a reaction to the August jobs report, which was weaker than expected for a second month in a row. That sent signals across the financial markets, and then mortgage rates came down as a result.

Basically, we’re seeing signs the economy may be slowing down, and as certainty grows in the direction the economy is going, the markets are reacting to what is likely ahead. That historically brings mortgage rates down.

Why Buyers Should Pay Attention Now

But this isn’t just about one day of headlines or one report. It’s about what the drop means for you.

This recent change saves you money when you buy a home. The chart below shows you an example of what a monthly mortgage payment (principal and interest) would be at 7% (where mortgage rates were in May) versus where rates roughly are now:

Compared to just 4 months ago, your future monthly payment would be almost $200 less per month. That’s close to $2,400 a year in savings.

Locally, Cape Cod Five has announced 30 and 15 year rates below 6%.

How Long Will It Last?

That really depends on where the economy and inflation go from here. Rates could drop lower, or they could inch up slightly. 

So, make sure you stay in touch with us and your lender. We’ll be keeping a close eye on inflation indicators, job market updates, and reactions to upcoming Fed policy to gauge where mortgage rates may go from here.

But for now, focus on this. While no one can say for sure where rates are headed, the fact that rates broke out of their months-long rut is a good thing. If you’ve been feeling stuck, this could make the start of a new chapter. As Diana Olick, Senior Real Estate and Climate Correspondent at CNBC, says:

“Rates are finally breaking out of the high 6% range, where they’ve been stuck for months.” 

And that’s gives you more reason to hope than you’ve had in quite some time.

Bottom Line

This is the shift you’ve been waiting for.

Mortgage rates just saw their biggest decline in over a year. And if rates stay near this level, it could make a home you couldn’t afford just a few months ago feel possible again.

With inventory increasing, is this finally the time for you to make the change you know you need to whether buying, selling or both?

Questions? Concerns? 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.

The Accidental Landlord

The number of homeowners turning into accidental landlords is rising.

Sometimes sellers will say they’ve decided to rent their homes if the properties been on the market for what they’ve consider too long or if the offers they’re receiving aren’t what “they want.”

There’s a term for this in the industry, and it’s called an accidental landlord. Here’s how Yahoo Finance defines it:

“These ‘accidental landlords’ are homeowners who tried to sell but couldn’t fetch the price they wanted — and instead have decided to rent out their homes until conditions improve.”

Why This Is Happening

The number of homeowners turning into accidental landlords is rising. Business Insider explains why:

“While there have always been accidental landlords . . . an era of middling home sales brought on by a steep rise in borrowing rates — is minting a new wave of reluctant rental owners.”

Basically, sales have slowed down as buyers struggle with today’s affordability challenges. That’s leaving some homeowners with listings that sit and go stale. And if they don’t want to drop their price to try to appeal to buyers, some homeowners may believe that renting is a better option.

Let’s be honest, you can’t blame them for thinking about it. The rents that some properties can command are certainly enticing.

But here’s what you need to remember if renting your house has crossed your mind. If becoming a landlord wasn’t your original plan, there’s probably a reason for that. It comes with a lot more responsibility (and risk) than most people expect.

So, if you find yourself toying with that option, ask yourself these questions first:

1. Does Your House Have Potential as a Profitable Rental?

Just because you can rent it doesn’t mean you should. For example:

  • Are you moving out of state? Managing maintenance from far away isn’t easy.
  • Does the home need repairs before it’s rental-ready? Do you have the time or the funds for that? The house you were attempting to sell “as is,” may not be suitable as a rental property until the improvements you’re trying to avoid making are completed.
  • Is your neighborhood one that typically attracts renters, and would your house be profitable as one?

If any of those give you pause, it’s a sign selling might be the better move.

2. Are You Ready To Be a Landlord?

On paper, renting sounds like easy passive income. In reality, it often looks more like this:

  • Midnight calls about clogged toilets or broken air conditioners
  • Chasing down missed rent payments
  • Damage you’ll have to fix between tenants
  • Calls from former neighbors with complaints about your renters, whether the calls are justified or not.

As Redfin notes:

“Landlords have to fix things like broken pipes, defunct HVAC systems, and structural damage, among other essential repairs. If you don’t have a few thousand dollars on hand to take care of these repairs, you could end up in a bind.”

3. Have You Thought Through the True Costs?

According to Bankrate, here are just a few of the hidden costs that come with renting out your home:

  • A higher insurance premium (landlord insurance typically costs about 25% more)
  • Management fees (if you use a property manager, they typically charge around 10% of the rent)
  • Maintenance and advertising to find tenants
  • Gaps between tenants, where you cover the mortgage without rental income coming in

All of that adds up, fast.

While renting can be a smart move for the right person with the right house, if you’re only considering it because your listing didn’t get traction, there may be a better solution: revisiting the pricing strategy on your house.

Bottom Line

Before you decide to rent your house, make sure to carefully weigh the pros and cons of becoming a landlord. If you do not have an active listing agreement with a real estate professional, please consider contacting us. A fresh set of eyes may offer a different perspective. The issue may not be the price. It could be marketing or other factors.

You can find us at 508-388-1994 or msennott@todayrealestate.com.

For many homeowners, the hassle (and the expense) of renting may not be worth it. 

Mari and Hank

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.

Did Uncle Bob Give You Bad Advice This Weekend?

Everyone loves to talk about the real estate market.

We hope you were able to enjoy the Labor Day Weekend with family and friends.

When people get together it’s pretty common for them to talk about the issues of the day and everyone loves to talk about the real estate market.

Your Uncle Bob who “knows a little something about real estate” may have commented over the weekend that new home inventory is at its highest level since the crash. And that was a bad sign.

If you lived through the crash back in 2008, hearing that new construction is up may feel a little scary.

But here’s what you need to remember: a lot of what you see online is designed to get clicks. Of course, the more sensational the more likely the headline is to be repeated by people like your Uncle Bob. (With all due respect to everyone’s Uncle Bob!)

So, you may not be getting the full story. A closer look at the data and a little expert insight can change your perspective completely.

Why This Isn’t Like 2008

While it’s true the number of new homes on the market hit its highest level since the crash, that’s not a reason to worry. That’s because new builds are just one piece of the puzzle. They don’t tell the full story of what’s happening today.

To get the real picture of how much inventory we have and how it compares to the surplus we saw back then, you’ve got to look at both new homes and existing homes (homes that were lived in by a previous owner).

When you combine those two numbers, it’s clear overall supply  looks very different today than it did around the crash (see graph below):

So, saying we’re near 2008 levels for new construction isn’t the same as the inventory surplus we had the last time.

Builders Have Actually Underbuilt for Over a Decade

And here’s some other important perspective you’re not going to get from those headlines. After the 2008 crash, builders slammed on the brakes. For 15 years, they didn’t build enough homes to keep up with demand. That long stretch of underbuilding created a major housing shortage, which we’re still dealing with today.

The graph below uses Census data to show the overbuilding leading up to the crash (in red), and the period of underbuilding that followed (in orange):

Basically, we had more than 15 straight years of underbuilding – and we’re only recently starting to slowly climb out of that hole. But there’s still a long way to go (even with the growth we’ve seen lately). Experts at Realtor.com say it would roughly 7.5 years to build enough homes to close the gap.

Of course, like anything else in real estate, the level of supply and demand is going to vary by market. Some markets may have more homes for sale, some less. But nationally, this isn’t like the last time.

Bottom Line

Just because there are more new homes for sale right now, it doesn’t mean we’re headed for a crash. The data shows today’s overall inventory situation is different.

If you have questions or want to talk about what builders are doing on Cape Cod, let’s connect at 508-388-1994 or msennott@todayrealestate.com.

We’ll talk to Uncle Bob, too!

Mari and Hank

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.

Our New TV Show!

We’re happy to tell you that we have begun a new monthly program on Mashpee TV.

Called “How’s the Market?” — which is the question we get all the time from family, friends, and even total strangers! — we will answer that question and many others with just the facts and no spin.

In our first episode, which you can see linked below, we talk about current market data, as well as some of the most recent changes to the home buying and selling process.

We’ll have guests, as well. Our September program will feature Todd Machnik, President of Today Real Estate, as well as the President of the Cape Cod and Islands Association of Realtors. We should be heading into the studio soon to have what we’re sure will be a very informative discussion.

If you live in our hometown of Mashpee, you can see “How’s the Market?” on channel 1072.

If not, we’ll be sharing the link on our social media. The program can also be found on the Mashpee TV YouTube channel. (And our own YouTube channel soon.)

We hope you’ll watch. If you have suggestions for topics you’d like to see us cover, please let us know at 508-388-1994 or msennott@todayrealesate.com.

See you on TV!

Mari and Hank

Buy Now or Wait for Rates to Drop?

Buyers who are holding out for lower mortgage rates may be missing a key opening in the market.

Mortgage rates are always a hot topic – and for good reason. After the most recent jobs report came out weaker than expected, the bond market reacted almost instantly. As a result, in early August mortgage rates dropped to their lowest point so far this year (6.55%).

While that may not sound like a big deal, pretty much every buyer has been waiting for rates to fall. And even a seemingly small drop like this reignites the hope we’re finally going to see rates trending down. But what’s realistic to expect?

According to the latest projections, rates aren’t expected to fall dramatically anytime soon. Most experts project they’ll stay somewhere in the mid-to-low 6% range through 2026 (see graph below):

In other words, no big changes are expected. But small shifts, like the one we just saw, are still likely. 

What Rate Would Get Buyers Moving Again?

The magic number most buyers seem to be watching for is 6%. And it’s not just a psychological benchmark; it has real impact. A recent report from the National Association of Realtors (NAR) says if rates reach 6%:

  • And roughly 550,000 people would buy a home within 12 to 18 months
  • 5.5 million more households could afford the median-priced home

That’s a lot of pent-up demand just waiting for the green light. And if you look back at the graph above, you’ll see Fannie Mae thinks we’ll hit that threshold next year. That raises an important question: Does it really make sense to wait for lower rates?

Because here’s the tradeoff. If you’re waiting for 6%, you need to realize a lot of other people are too. And when rates do continue to inch down and more buyers jump into the market all at once, you could face more competition, fewer choices, and higher home prices. NAR explains it like this:

“Home buyers wishing for lower mortgage interest rates may eventually get their wish, but for now, they’ll have to decide whether it’s better to wait or jump into the market.”

Consider the unique window that exists right now:

  • Inventory is up = more choices
  • Price growth has slowed down = more realistic pricing
  • You may have more room to negotiate = you could get a better deal

These are all opportunities that will go away if rates fall and demand surges. That’s why NAR says:

“Buyers who are holding out for lower mortgage rates may be missing a key opening in the market.”

Bottom Line

Some people have told us that they are holding off on making their next move in order to see “what happens.” If that means if rates are going to drop, you have your answer. They aren’t expected to hit 6% this year.

But when rates drop, you’ll have to deal with more competition as other buyers jump back in. If you want less pressure and more negotiating power, that opportunity is already here – and it might not last for long. It all depends on what happens next in the economy.

If you’re thinking about entering the market but want to talk it through, we’re here to listen. You can find us at 508-388-1994 or msennott@todayrealestate.com. Let us know how we can 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 Credit Score Do You Need?

Most homebuyers think they need better credit than they actually do.

According to Fannie Mae, 90% of buyers don’t actually know what credit score lenders are looking for, or they overestimate the minimum needed.

Let that sink in. That means most homebuyers think they need better credit than they actually do – and maybe you’re one of them. And that could make you think buying a home is out of reach for you right now, even if that’s not necessarily true. So, let’s look at what the data really says about credit scores and homebuying.

There’s No One Magic Number

There’s no universal credit score you absolutely have to have when buying a home. And that means there’s more flexibility than most people realize. Check out this graph showing the median credit scores recent buyers had among different home loan types:

Here’s what’s important to realize. The numbers vary, and there’s no one-size-fits-all threshold. And that could open doors you thought were closed for you. The best way to learn more is to talk to a trusted lender. As FICO explains:

“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 . . .”

Why Your Score Still Matters

When you buy a home, lenders use your credit score to get a sense of how reliable you are with money. They want to see if you typically make payments on time, pay back debts, and more.

Your score can impact which loan types you may qualify for, the terms on those loans, and even your mortgage rate. And since mortgage rates are a big factor in how much house you’ll be able to afford, that may make your score feel even more important today. As Bankrate says:

“Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”

That still doesn’t mean your credit has to be perfect. Even if your credit score isn’t as high as you’d like, you may still be able to get a home loan.

Want To Boost Your Score? Start Here

And if you talk to a lender and decide you want to improve your score (and hopefully your loan type and terms too), here are a few smart moves according to the Federal Reserve Board:

  • Pay Your Bills on Time: This is a big one. Lenders want to see you can reliably pay your bills on time. This includes everything from credit cards to utilities and cell phone bills. Consistent, on-time payments show you’re a responsible borrower.
  • Pay Down Your Debt: When it comes to your available credit amount, the less you’re using, the better. Focus on keeping this number as low as possible. That makes you a lower-risk borrower in the eyes of lenders – making them more likely to approve a loan with better terms.
  • Review Your Credit Report: Get copies of your credit report and work to correct any errors you find. This can help improve your score.
  • Don’t Open New Accounts: While it might be tempting to open more credit cards to build your score, it’s best to hold off. Too many new credit applications can lead to hard inquiries on your report, which can temporarily lower your score.

Bottom Line

Your credit score doesn’t have to be perfect to qualify for a home loan. But a better score can help you get better terms on your home loan. The best way to know where you stand and your options for a mortgage is to connect with a trusted lender.​

If you are not working with a reputable lender, we can connect you with several who we know. Just reach out to 508-388-1994 or msennott@todayrealestate.com. We’re happy to help…

Mari and Hank

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.

Three Things You Risk by Pricing Too High

When selling your house, the price you choose isn’t just a number, it’s a strategy.

If you’ve been following the real estate market, you’ve no doubt noticed that there have been a lot of price changes lately. More than we’ve seen in a while.

Does that mean prices are falling? Not exactly. In many cases the seller priced their home too high to begin with.

When selling your house, the price you choose isn’t just a number, it’s a strategy.

The number of homes for sale is climbing. And that means buyers have more choices and can be more selective. If your price doesn’t line up with what else is out there, they’ll go right past it and go on to the next one.

Pricing right from the start is your best move – we can help make sure you do.

Overpricing Comes at a Cost

More sellers are finding that out the hard way. They list their house based on how things were a year ago – or based on a neighbor’s sale that happened under completely different circumstances. Maybe even what they “want.” Then, when their house doesn’t sell, they’re left with three tough choices:

  1. Drop the price: Cutting the price might help get more eyes on the house again, but it can also trigger red flags. Buyers may wonder what’s wrong with it. And that’s going to impact any offers you get after the price cut.
  2. Take it off the market: Some sellers give up on the idea of selling right now. The worst part about this is that it means putting their future plans on the back burner. That dream of more space, downsizing, or relocating? On pause.
  3. Rent it out: Others go the landlord route, but managing tenants and navigating leases isn’t always the simple fallback it seems. Renting can work, but being a landlord is often a lot more hassle than people expect.

None of those options were part of the original plan. And honestly, none of them are where you should end up if you wanted to sell. Here’s a look at how our expertise can help you avoid these headaches. Let’s use price cuts as an example.

location Makes a Difference

While the number of price cuts is up nationally, this map shows some parts of the country are seeing far more of them than others. It all comes down to how much inventory has grown in that area (see map below):

As Realtor.com explains:

“Regionally, price reductions in June were significantly more common in the South and West (23% of listings) than they were in the Northeast (13% of listings), reflecting the inventory divergence across these regions.”

In Massachusetts, 19% of listings had price reductions.

That means pricing isn’t one-size-fits-all. And that’s why you shouldn’t try to determine your list price on your own.

We can Help You Nail the Price

We just don’t just toss out a number or tell you what you want to hear.

As Zillow says:

“Well-priced homes are more likely to sell quickly, but pricing your home to sell quickly and for maximum dollar requires strategy and knowledge of your local market. You need to have a clear-eyed view of your home in relation to the competition, and knowledge about whether you’re in a buyers or sellers market. It also helps to know what buyers in your area can afford.” 

And that’s all knowledge we have. We know the Cape Cod market, compare recent sales, and factor in your goals and buyer behavior. Based on what’s happening, sometimes the best play will be pricing right at current market value. Other times pricing a little lower actually will spark more offers and ultimately get you a better final sale price.

Bottom Line

Overpricing can lead to tough choices you never want to face. But with the right price, and the right guidance, you can skip the stress and sell with confidence. Let’s connect so you have a pricing strategy that works for today’s market and gets you where you want to go. You can always find us at 508-388-1994 or msennott@todayrealestate.com.

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.

Selling Your Home? Don’t Do This

Are you thinking about selling your house? Here are some common mistakes that are being made right now that’s causing the process to be more stressful for some sellers. And even costing them money!

Fortunately, they’re easy to avoid, as long as you know what to watch for. Let’s break down the biggest seller slip-ups, and how we can help you steer clear of them.

1. Overpricing Your House

It’s completely natural to want top dollar for your house, especially if you’ve put a lot of work into it. But in today’s shifting market, pricing it too high can backfire. Investopedia explains:

“Setting a list price too high could mean your home struggles to attract buyers and stays on the market for longer.”

And your house sitting on the market for a long time could lead to price cuts that raise red flags about “what’s wrong” with the property. That’s why pricing your house right from the start matters.

To advise you on price, we look at what other similar nearby homes have sold for, the condition of your house, and what’s happening in the market right now. That way we can suggest a price that’s more likely to bring in buyers, and maybe even more than one offer.

2. Spending Money on the Wrong Upgrades

The housing market has nearly a half million more sellers than buyers according to Redfin. That means you have more competition as a seller and may have to do a bit more to get your house ready to sell. But not all projects are going to be worth it. If you spend money on the wrong projects, it could really cut into your profit.

We work with buyers and know what they’re really looking for, so we can help you figure out which projects are worth it, and which ones to skip. Even better, we know how to highlight any upgrades you make in your home, so your house stands out online and gets more attention.

3. Refusing To Negotiate

Now that inventory has grown, it’s important to stay flexible. Buyers have more options – and with it comes more negotiating power. U.S. News explains:

“If you’ve received an offer for your house that isn’t quite what you’d hoped it would be, expect to negotiate . . . make sure the buyer also feels like he or she benefits . . . consider offering to cover some of the buyer’s closing costs or agree to a credit for a minor repair the inspector found.”

Again, that’s where we come in. We’ll advise you on what’s normal in today’s market, and how to find a win-win solution. Sometimes making a small compromise can keep the deal moving and help you move on to your next chapter faster.

4. Skipping Research When Hiring an Agent

So, you want to interview several agents? Be sure to do your research.

  • Ask about how many homes has the person sold? (We’ve sold 400.)
  • Ask about their marketing plan. (We have one.)
  • Ask about how committed they are to representing your home. (Are they going to attend every showing or just give the lock box code to any agent who calls. We attend every showing. If we’re not there to sell your home, then why did you hire us? If for some reason we can’t, another Today Real Estate agent who is fully briefed about your home will.)

Bottom Line

Selling a house doesn’t have to be stressful, especially if you have us by your side. If you’re ready to sell, let’s talk. You can find us at 508-388-1994 or msennott@todayrealestate.com.

Mari and Hank

Mortgage Rates Are Stabilizing

Over the past few years, affordability has been the biggest challenge for many homebuyers. Between home prices and mortgage rates, many have felt stuck between a rock and a hard place.

But the situation is getting better. While affordability is still tight, mortgage rates have shown signs of stabilizing in recent months.

Mortgage Rates Have Stabilized – For Now

Over the past year, mortgage rates have had their share of ups and downs, making it tough for buyers to know what to expect. But recently, rates have started to level out and have settled into a more narrow range (see graph below):

As the graph shows, rates have stayed within that half-percentage-point since late last year. Yes, there’s been movement within that range, but wild swings and sudden ups and downs just haven’t been the story lately. And that’s a bigger deal than you may realize. As HousingWire explains:

“Analysts, economists and mortgage professionals are coining this quarter’s activity as one of the most “calm” periods for mortgage rates in recent memory.”

How This Helps you

Let’s be real. Unpredictability makes it tough to plan ahead. When rates are bouncing around and making big jumps week to week, it’s easy to be intimidated. But with rates staying in a pretty steady range over the past several months, you have a clearer picture of what your potential monthly payment could look like. That makes moving feel less uncertain – and more doable.

So, you can start planning if you’ve decided that it’s time to make a change. Life goes on. Your home that is too small isn’t going to get any bigger. And it’s not going to shrink if it’s already too big.

Will This Stability Last?

According to the experts, it looks like that stability might hang around for a bit. Rates may come down ever so slightly in the months ahead, but it’ll likely be a slow and mild change. As Danielle Hale, Chief Economist at Realtor.com, says:

“I expect a generally downward trend for rates this year, but at a slow enough pace that it might not be noticeable in any given month.”

So, if you’ve been holding out for the perfect mortgage rate, the best advice is to avoid trying to time the market. It may not look terribly different than the opportunity you already have in front of you. As Jeff Ostrowski, Housing Market Analyst at Bankrate, explains:

“Trying to time mortgage rates is really difficult. There’s no guarantee that rates are going to be any more favorable in three months or six months.”

And if we look at the latest expert forecasts that go out a bit further, even those tell much of the same story. Two out of the three projections say rates will still likely be in the mid-6% range by the end of 2026 (see graph below):

This puts today’s buyers in a much better spot. As Sam Khater, Chief Economist at Freddie Mac, explains:

“Mortgage rates have moved within a narrow range for the past few months . . . Rate stability, improving inventory and slower house price growth are an encouraging combination . . .”

Just remember, mortgage rates are still going to react to changing economic conditions, inflation, and more – and that means they could shift again. But right now, you’ve got more predictability, and that means more opportunity, too. 

Remember: the rates you see quoted may not be the rate you could get. For example, Cape Cod Five is showing rates as low as 5.625% for a 15-year fixed rate mortgage. Your individual situation determines your rate.

Bottom Line

So, if you haven’t spoken with your mortgage lender in a while you might want to give him or her a call.

If you don’t have a relationship with a lender, we can recommend several whom we’ve worked with. You can find us at 508-388-1994 or msennott@todayrealestate.com. We’re happy to help…

Mari and Hank

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.