What the "Rate" is going on here?

Mortgage Rates: Easing Up a Bit

Think of mortgage rates like the temperature of the water before you dive in. For most of this year, it’s been a little too cold to jump, but now it’s warming up enough that more buyers are testing the waters.

• The average 30-year fixed mortgage is down to 6.58%—the lowest since last October.

• The 15-year fixed rate is averaging 5.71%.

• Rates have declined for four weeks in a row, giving homebuyers a little more breathing room in their budgets.

Why This Matters

Lower rates mean stronger buying power. Even a small drop could save hundreds per month. But here’s the catch:

👉 When more buyers realize the water’s warming up, they’ll all rush in at once—and that could push home prices higher.

Think of it like a sale at your favorite store: the early shoppers get the best selection and deals, but wait too long, and you’ll be fighting over what’s left (and likely paying more).

Market Mood: Cautiously Encouraged

If the housing market was a party, more people are finally stepping in from the edges. It’s not a full dance floor yet, but it’s filling up.

• Buyer confidence is rising, thanks to easing rates.

• Sellers are still adjusting, which means today’s buyers often have more negotiating power than they will once demand heats up again.

Your Roadmap for What to Watch

🚨 Why Waiting Could Cost You

The window we’re in right now is rare—rates are down, but prices haven’t caught up yet. Once more buyers jump back in, sellers will regain the upper hand and home prices are likely to rise to match the new demand.

That means acting now could lock in:

• A lower mortgage rate

• A better home price

• More negotiating leverage than later this year

👉 Don’t wait for the flood of buyers—get ahead of them. Let’s review your options and see how far today’s rates can stretch your budget.

Charley narcomey
808-250-0155
[email protected]
Realty One Group Mountain Desert | Each office is independently owned and operated. Equal Housing Opportunity.