If you’ve been watching mortgage rates lately, you might feel a little stuck. Rates climbed above 7% this year, and a lot of buyers have decided to sit tight and wait for them to come back down.
But rates are only half the story. When you buy a home, you usually get one of two things: low rates or negotiating power. It’s rare to get both at the same time. And right now, you have a lot more of that second one than you might think.
Think back to 2020 and 2021. Rates were near 3%, and buyers rushed into the housing market. Those low rates sounded great, but they came with a catch. There were a lot of buyers just like you that you had to compete with – and there weren’t enough homes for sale to meet that demand.
That’s why homes got multiple offers, buyers paid over asking or waived inspections, and sellers held all the cards. Jake Krimmel, Senior Economist at Realtor.com, shows just how one-sided things got:
“Seller’s markets peaked at 98 of 100 metros in spring 2022 after two years of mortgage rates near 3%.”
Then, in the second half of 2022, rates went up. As a result, the number of people buying homes went down, inventory grew, and the balance slowly started tipping from sellers back to buyers. Fast forward to today, and that flip is officially here.
In a recent report, Realtor.com found about two-thirds (66) of the top 100 metros now lean in favor of buyers (see graph below):
And while you may want lower rates, this shift in power has its own perks.
There are more homes for sale than there have been in years. And in a more buyer-friendly market like that, it means sellers have to work harder to get their homes sold. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:
“Higher inventory and lengthening days on market give buyers improved negotiating power.”
That shows up in the deals buyers are getting. According to Redfin, nearly half of buyers now get some kind of concession from the seller – like help with closing costs, money for repairs, or even the seller paying to buy down your mortgage rate (see graph below):
So when you find a home you love, even if the rate isn’t what you necessarily wanted, there are other levers to pull. Ask about a price cut or a seller-paid rate buydown, too. It could take some of the sting out of today’s rates.
And just in case you’re still thinking you’ll just hold off until rates drop, here’s what you should know. Experts at Fannie Mae, the Mortgage Bankers Association (MBA), and Wells Fargo don’t expect rates to fall much through 2027 (see graph below):
And here’s the whole point. Even if rates did drop in a big way, a lot of buyers would rush back in. More competition means fewer deals, fewer concessions, and sellers getting the upper hand again.
So waiting comes with a trade-off. You might land a better rate down the road, but you’d probably give up the bargaining power you have today.
That doesn’t mean you have to move right now. You should only buy when the numbers work for you. But if you’ve got a real reason to move, today’s leverage could help make your numbers work – even at today’s rates.
Buyers rarely get low rates and strong negotiating power at the same time, and today’s market is handing you the leverage.
Let’s find homes where sellers may be open to covering a rate buydown or closing costs, so you can see if today’s market can work for your budget.
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November 2, 2026·2 min read
When you’re planning a move, every monthly cost counts. That’s why it can be frustrating to see home insurance keep creeping up. According to Intercontinental Exchange, it now makes up 9.6% of the average monthly mortgage payment.
But the latest numbers show some progress on that front – as the increases start to slow down. Here’s what you need to know and what you can do about it.
A look at the past two years shows how much things have cooled down. In mid-2024, home insurance premiums rose 4.3% in a single quarter. By the second quarter of this year, that was down to 1.8%. That’s the smallest quarterly growth in almost 3 years – and that’s a good thing (see graph below):
As Andy Walden, Head of Mortgage and Housing Market Research at Intercontinental Exchange, explains:
“Property insurance has been a fast-growing component of the monthly mortgage payment, but this quarter’s data shows the pace of increase is finally slowing.”
While your premium will likely still go up over time, it may not climb as quickly as it did a couple of years ago. And that’s, at the very least, a step in the right direction.
Here’s where you have some say in what you pay. Let’s take current homeowners as an example. Intercontinental Exchange found that when homeowners shopped around and switched insurance companies, their premiums went down 6.6% on average. Those who stayed with their current company saw an increase of 10.4% (see graph below):
Think about that. That’s a big difference and it goes to show that looking for a new provider can literally pay off.
That works out to about $440 a year in savings for the people who switched. And they didn’t have to give up coverage to get it. Their deductibles dipped 1.4%, and their coverage limits actually rose 7.3%.
While this example is current homeowners, the same general idea applies for first-time buyers too. Shop around and get multiple quotes before you pick your insurance provider. Then, once you’re settled in, review your policy each year when it comes up for renewal. You’re not locked into the first price you get.
The home itself plays a role as well. According to John Burns Research and Consulting (JBREC), newly built homes are 10% to 15% less expensive to insure than older ones nationally.
And while a brand-new home won’t necessarily be the right fit for every buyer, if you’re open to one, it could be one more way to keep your monthly insurance costs down.
Home insurance is certainly a bigger part of the monthly costs than it used to be, and that can feel like just one more thing to juggle when you’re buying a home or moving. But knowing you have ways to keep it in check can take some of the pressure off.
Compare a few options before you buy, revisit your policy each year, and lean on trusted local professionals as you plan for your next move.
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Here's something most homebuyers don't think about. When the housing market slows down, homeowners and builders don't always respond the same way.
Think about it. If you're selling your house and aren't getting the offers you want, you could make the choice to take it off the market and stay put, and wait for things to improve.
But builders? They may be more motivated to stay the course.
They've already invested money in building those houses. And every completed home that sits unsold means money tied up in a property, plus ongoing costs that can add up.
That's why some builders may be more motivated to negotiate right now. And that could work in your favor.
You’ve probably seen the headlines. According to the latest report from the National Association of Realtors (NAR), pending home sales – homes that have gone under contract but haven't closed yet – fell 7.3% in September and 11.3% compared to last year.
Why? Higher mortgage rates are making it harder for buyers to make the numbers work. Now, that report tracks existing homes, not new construction. But we're seeing signs of the same slowdown on the builder side, too.
According to the National Association of Home Builders (NAHB), builder confidence dropped to 29 in October, its lowest level since June 2012. Traffic from prospective buyers also dropped to its lowest level in more than a decade, excluding the start of the pandemic.
As Robert Dietz, Chief Economist at NAHB, explains:
"Demand persists, but higher mortgage rates, elevated construction costs and weaker consumer confidence are keeping more buyers on the sidelines."
Here's why that matters for you.
A homeowner may be able to wait for the right offer. But a builder with several finished houses sitting unsold may have more reason to get those homes sold sooner rather than later.
And that means they may be more willing to work with you than you think.
If you’ve always assumed builders don't negotiate, take a look at what they're actually doing. According to the latest survey from NAHB, in October:
So, yes. Builders absolutely do negotiate. And with demand slowing, there's good reason to explore just how flexible they may be right now.
That could mean asking for a lower price. But it could also mean asking for a mortgage-rate buydown, help with closing costs, or upgrades that would otherwise cost you extra.
And here's a tip that could make a real difference.
Don't just look at the newest communities or the prettiest model homes. Look for builders with completed houses that haven't sold yet.
Those are sometimes called quick move-in homes or spec homes. And the longer one of those move-in ready homes sits unsold, the more reason a builder may have to consider an offer that helps get it off their books.
Don't assume the advertised price or incentive package is the best they'll do.
This is where having your own agent can really pay off. An agent who knows the local market can help you compare what builders are offering, identify communities with more available homes, and understand where there's room to negotiate.
Of course, not every builder will offer the same incentives. And some may be more flexible on closing costs or mortgage rates than on the price itself.
But that's exactly why it pays to ask.
The trick is knowing where to look, what to ask for, and how much room there may be to negotiate. And that’s where having your own agent is key.
A homeowner who isn't ready to accept a lower offer may be able to wait. But a builder with finished houses to sell has a different set of priorities. And that could work in your favor.
If you're ready to buy, let's look at which builders have completed homes sitting on the market in our area and see what they're willing to offer to get them sold.
With everything going on, it’s understandable if you’re wondering if you’d regret buying right now.
Everyday expenses cost more. Mortgage rates are higher than you’d like. And when the economy feels uncertain, taking on a mortgage can feel like a much bigger leap. But here’s some perspective that may help…
Most people who already made that leap would do it again.
According to a recent survey from NerdWallet, the vast majority of recent buyers (74%) were glad they bought their current home. Only a very small 3% of people regret it:
And here’s a big reason why so many people feel it was worth it, even now.
When you’re deciding whether to buy, it’s easy to focus on what’s happening right now. What’s today’s mortgage rate? Are prices going up or down? Those things matter. But don’t get so caught up in buying in the perfect moment that you miss the bigger picture.
A home isn’t typically something you buy for just a year or two. It’s a longer-term play. And when you zoom out, it all starts to fall into perspective – especially if you look at home prices and equity.
According to data from the Federal Housing Finance Agency (FHFA), home prices nationally have risen 33.4% over just the past five years (see map below):
And that appreciation has helped current homeowners build some serious wealth. Research from Bankrate shows homeowners gained an average of nearly $150,000 in wealth over the past five years as equity steadily rose across 90% of major metro areas.
That’s one of the biggest benefits of homeownership. As you pay down your mortgage and your home appreciates over time, your ownership stake – your equity – can grow.
The five-year numbers are impressive. But the numbers get even more dramatic when you look at decades instead of individual market cycles.
FHFA data shows home prices nationally have risen 336% since 1991. Sit with that for a second. Three hundred percent (see map below):
That doesn't mean prices go up every single year. And it doesn't mean buying is automatically the right decision for everyone today. You should only buy when the numbers (and the payment) work for you.
What it does show is why trying to perfectly time the market can make you miss the bigger picture.
Over time, homeowners gain a lot of equity. And that equity can eventually become a powerful financial resource. As Freddie Mac explains:
“Your home's equity is part of your total wealth as a homeowner. If you decide to sell your home, the equity you have built over time will come back to you in the sale. . .
If it's time to upsize or downsize, you can use that cash for the down payment on your next home.”
Basically, if you can afford to do it, buying a home now could set you up for future moves.
And just in case you’re someone who’s worried about what happens if prices do fall, after you buy, remember: you’re not buying for one year.
Prices can dip. They have before. But historically, they’ve risen far more over the long run. And the longer you own your home, the more time you have to ride out those ups and downs and keep building equity.
Don’t let today’s uncertainty make you lose sight of what homeownership can do over time. Most homeowners say they’d make the same choice again. And decades of home-price growth help explain why.
If you’re wondering whether buying makes sense for you right now, let’s look at the numbers together – and what owning a home could mean for you in the years ahead.
October 5, 2026·3 min read
For a lot of first-time buyers, owning a home can feel perpetually a few years out of reach. Saving for a down payment takes time, and each year you spend renting can make owning feel further off.
But buying your first home doesn’t have to happen to feel like a far away goal. Two choices you control can bring your first home years closer, even with affordability as tight as it is right now.
First, one quick definition. "Breaking even" is the point where owning has cost you about the same as renting would have over the same period. And after that point, owning starts to cost less than renting. Kara Ng, Senior Economist at Zillow, puts it this way:
"Buyers should think about not just when they can afford to buy, but how long they'd need to stay before owning makes more financial sense than renting."
So how long does reaching that point usually take? And what are the shortcuts? Let’s do the math.
According to Zillow, it usually takes about 8.5 years to save for a 20% down payment, then roughly 6.2 more years before owning costs the same as renting. Together, that's just under 15 years. But that math relies on two assumptions: that you're buying a mid-priced home, and that you're putting 20% down.
Change either one and your timeline gets shorter. Change both and it can shrink fast. It also varies widely by market, since local prices and rents are different depending on where you live.
A starter home usually means a home in the lower third of local prices. They’re often condos, townhomes, or single-family homes a little smaller or older than others in the area.
Choosing one over a mid-priced home can cut your wait down by a lot. And while that might sound obvious, you may not realize just how much it shortens your timeline. Because if you’re buying a more affordable home, you don’t have to save up as much or as long.
Zillow found that nationwide, a starter home takes half the time – about 7.2 years – to save for and come out ahead on, compared with renting (see graph below):
That works out to about 4.6 years to save and 2.6 years to break even. It won't erase every affordability challenge, but it can take years off the wait. And if you’ve already been saving for a while, it could get you closer to making it a reality.
You, like many first-time homebuyers, might assume you need a 20% down payment to even consider buying. But a lot of the time, you don’t.
Most first-time buyers don't put down anywhere near that. The National Association of Realtors shows the median down payment for first-time buyers is 10% (see graph below):
And the minimums go lower still. Some buyers put down as little as 3% on a conventional loan or 3.5% on an FHA loan, and eligible veterans or buyers in certain rural areas can put down nothing at all.
There's help with the upfront costs of buying, too. Down Payment Resource counts 2,746 assistance programs nationwide, and some are even stackable:
"Some homebuyers can layer multiple sources of assistance to reduce their upfront costs. Layering means combining more than one eligible source of funding as part of your home purchase."
Put those together – a lower price point, a smaller down payment, and help covering it – and the years you thought you needed start to come down.
Your first home may not be as far off as it feels. When the numbers make sense for you, buying a starter home and putting down less than 20% can get you there years sooner.
Want to see which starter homes in our area could fit your budget? Let's connect.
September 28, 2026·3 min read
You may have seen the headlines saying mortgage rates have climbed to the highest point since January 2025. And if that's left you reluctant to buy a home, here's what you need to remember…
That's not necessarily the number you'd get.
It's a common misconception that the rate you see in the headlines is the same one you'd get when you buy. The truth is, mortgage rates shift often, and the rate you actually end up with can vary a lot from what you may see or hear about.
Advertised rates and “real rates” aren’t always the same. That’s because real rates are based on your specific situation, which includes your overall finances and goals. The rates you see in the headlines can’t possibly reflect that.
That’s why only a lender can tell you what your real rate will be. To figure out your unique number, they’ll look at:
Even after you find a home you love, other things can have an impact too. For example:
There’s a lot that can ultimately have an impact on your actual rate.
If you want to know if your number could be higher or lower than the headlines on social, you need to talk to an expert. A simple conversation with a loan officer can help you determine when you’ll be ready to buy, how much you can borrow, and of course, what your real rate will be.
Your lender may recommend a pre-qualification and pre-approval:
Just know that, of the two, the pre-approval process gives you a more accurate picture of your options than pre-qualification. Bankrate gives a quick comparison so you can see why:
How To Get Ready for the Conversation
Ask your lender what documents you’ll need to gather for that conversation. And keep these questions in your pocket too. They’re good things to go over when you talk:
Once you find out your rate, maybe you can buy now. Or maybe you still need to wait. But at least you’d know your options and can make an informed decision.
Headlines and social media make today’s rates sound high. But you have to remember, the rate you’re seeing online and your actual rate could be different. The only way to know what your rate could be is to talk to a trusted lender.
With the right help, you can find out what your real rate is – and where it can take you.
If you're trying to buy a home, affordability is probably what keeps you up at night. And as you watch mortgage rates tick up again lately, it’s fair to wonder if you should just hit pause and wait for them to go down.
For now, though, they’re headed the other way. Mortgage News Daily data shows how rates have risen this year (see graph below):
And if you’re wondering why? There are actually a number of reasons.
Mortgage rates are impacted by the situation overseas, economic data, inflation numbers, oil prices, and even decisions from the Federal Reserve (who recently decided to hike their Fed Funds Rate – which often affects mortgage rates too). As Danielle Hale, Chief Economist at Realtor.com, explains:
“The pressure on mortgage rates was here even before the Fed rate hike, and it doesn’t show signs of relenting. . .”
Now, that’s probably not what you wanted to hear. But, it doesn’t mean there’s nothing you can do. While you can't control where rates go from here, you absolutely can control several things that shape the rate you actually get.
So where should you focus? Let's walk through it.
Your credit score plays a big role in the rate you qualify for, and even a small improvement can make a real difference in your monthly payment. As Freddie Mac puts it:
"Generally, the higher your credit score the more options will be available to you, including better loan terms and a lower interest rate."
So, make sure you do what you can to keep your credit score up. If you're not sure where your score stands right now, or how to improve it, talk to a trusted loan officer.
The type and term of your loan both affect your rate. Conventional, FHA, VA, and USDA loans each come with their own requirements and rates, and your term (15, 20, or 30 years) changes both your payment and the total interest you'll pay. The structure matters, too. A fixed-rate loan holds the same rate over time, while an adjustable-rate loan usually starts lower and can move later on. Bankrate explains it this way:
". . . rates on fixed-rate loans are typically higher than introductory rates on adjustable-rate loans because the fixed-rate lender takes on the risk that rates could increase during the loan’s term. Likewise, government-backed FHA, VA and USDA loans sometimes have lower rates because they have a government guarantee or insurance that cuts the lender’s risk."
It’s important to explore your options with a lender to see what makes the most sense for you. Just be sure to balance your goals, your possible rate, and any potential tradeoffs before making any decision. You may even want to talk to multiple lenders to see how the options vary.
Another path to a lower rate comes down to the kind of home you buy. Many builders are buying down mortgage rates, which lowers your monthly payment. It’s just one way they’re trying to attract buyers and get their homes sold.
According to Realtor.com, buyers of newly built homes landed a lower average rate last quarter than buyers of existing homes (see graph below):
If a lower rate is your goal, it may be worth asking your agent to show you some new build communities that are offering this type of incentive locally.
You can't control where mortgage rates go, but you can control your credit, your loan, and the kind of home you buy. Working with a trusted lender can help you lock in the best rate you qualify for. And when you’re ready to make a move that fits your budget, let’s connect.
You've been waiting for something to change before you buy. It just might not be the thing you expected…
While everyone’s paying attention to mortgage rates, only the savviest buyers know that the changing season can start tipping things in their favor.
Because every fall, buyers tend to get more to choose from, better prices, and more room to negotiate. And that’s why Hannah Jones, Senior Economist at Realtor.com, says:
“We always see that the best time to buy window usually falls in the early fall around October.”
And that’s exactly why, if you've been waiting for a better moment to buy, this season may be worth a closer look – even with rates where they are.
One of the biggest frustrations buyers have had over the past few years has been a lack of choices. Fall tends to help with that.
Based on seasonal trends, Realtor.com data shows there are typically more homes available for sale in September through November than during any other season of the year (see graph below):
Why does this happen? Homes that hit the market in spring and summer don't all close right away. Some sit. New listings keep coming. And inventory builds as the year goes on.
By fall, you're looking at the largest pool of available homes all year. That makes it easier to find one that works for your needs and your budget. And if anything, this should be more true this year. Rates that are higher for longer tend to help inventory grow even more.
More choices can mean fewer compromises. You’re more likely to find the right home, not just the one that happens to be available.
Having more choices is great. But if every home is still priced too high, that only gets you so far. That's where fall's second advantage kicks in: asking prices start their seasonal decline.
HousingWire data shows this trend over time (see graph below):
It works like this. Spring and early summer are when sellers feel the most confident because that's when demand is typically strongest. So, many homeowners price their homes higher during those periods because of the uptick in demand.
But every year, like clockwork, that dynamic starts to change by fall. Buyer activity slows down as the weather cools off. So, sellers have to price a bit lower to try to draw buyers in. And that’s good for your bottom line.
But fall doesn't just bring more choices and lower asking prices. It also brings more sellers who are increasingly motivated to get a deal done.
You can see it in the data. Most years, fall is when price cuts peak according to Realtor.com data (see graph below):
While it’s not a big difference from summer, this fall you’ll have more negotiation power than you’d have if you wait until the first half of 2027. Here’s why.
If a home is on the market in the fall, many sellers are eager to get it sold before the holidays. And since there are usually fewer buyers active in the fall, that often leads to another opportunity to snag a better deal. As the National Association of Realtors (NAR) explains:
“Less competition can lead to better deals. While homes are not selling as fast as during the summer, sellers may be more willing to negotiate.”
Even a small seller compromise here can make a meaningful difference for you.
As an example, a 5% price drop on a $500,000 home is $25,000. That could mean you end up borrowing less, keeping more money in savings, having room in the budget for updates after you move in, or simply making the monthly payment feel more manageable.
Of course, every market moves a little differently. But here's what doesn't change: Fall consistently buyers. More homes. Lower asking prices. Motivated sellers.
If you’ve been waiting for your search to feel a little more doable, this season may be worth another look.
Let’s have a quick conversation about what's happening in our market and see whether this fall gives you opportunities you may not have had a few months ago.
Lately, headlines have floated an eye-catching idea about tapping into your 401(k) to cover a down payment on a home. Maybe you've caught the buzz and wondered whether that money could get you into a home faster, especially with affordability as tough as it is.
Here’s what you need to remember. Pulling from your retirement savings is a big decision, so take time to weigh all your options first and be sure to talk with a financial expert before you do anything.
Data from Empower shows many Americans have built up considerable retirement savings. The median 401(k) amount for anyone in their 40s-60s is six figures (see graph below):
And when you've got a good chunk saved and your dream home is right there, reaching for it can feel like an easy call.
But dipping into your retirement savings to buy a home could cost you a penalty and set back your finances later on. That's why it's a good idea to explore other options for your down payment first. As Redfin says:
"If you’re struggling to save enough for a down payment, you may be wondering if tapping into your 401(k) is the right option. While it’s possible, doing so comes with significant risks, like early withdrawal penalties and lost investment growth."
Before you decide, have a financial advisor help you compare the upsides to the risks. Bankrate points to a few of each (see visual):
Your 401(k) isn’t the only way to finance a home purchase. Redfin outlines a few other options to look into before you decide what to do:
No matter which route you take, talk with a financial expert first. The buyers who come out ahead build a solid plan with the right professionals before starting their journey to homeownership. As NerdWallet puts it:
"Even if you’re convinced a 401(k) loan is the way to go, it’s important to understand the risks at the outset."
Affordability is definitely a challenge, but that doesn’t mean tapping your 401(k) is your only way in if you want to buy.
If you're considering using your 401(k) savings for a down payment, weigh all your options and talk with a trusted financial advisor before you make any decisions. They’ll help you make a plan to fit your goals and your budget.
Few things are as rattling as the thought of your home sale falling through at the last minute, right before closing. All that waiting, all that progress, out the window.
But if you’re getting ready to sell, here’s what you should know. Even in today’s market, it rarely comes to that. Buyers who are moving at today’s rates and prices are generally moving because of some big life change. That means they’re motivated, and eager to get all the way to the closing table.
According to the latest data from Redfin, only about 1 in 7 pending sales are falling through. Meaning the vast majority make it all the way to closing.
And the single biggest thing that puts a deal at risk is the one you have the most power to prevent. It just takes a little smart planning before your house hits the market.
A Redfin survey sheds light on the most common things that trip up a sale (see visual below):
Here’s a bit more information on each one.
Some of those reasons are outside your control, like whether a buyer’s loan clears or whether they sell their own home in time. But according to Zillow, there are a few proactive things you can do to help make sure your sale goes as smoothly as possible:
One of those is something you can’t do until you have offers in hand, but the other is something you can get ahead of right now. The pre-listing inspection.
That relatively small cost upfront can save you the much bigger hassle of a deal falling apart later. And while getting your own inspection before listing may not make sense in every market, your agent can tell you whether it’s worth it based on your market, your house, and what buyers are prioritizing in your area.
Sometimes the smartest move is staying one step ahead.
Most home sales still close, and the biggest thing that could get in the way of yours is the one thing you can actually do something about.
With the right prep, your sale has every reason to make it to the finish. So, let’s connect and get your house sold.