30-year mortgage rates just hit 7.40% — the highest we've seen since November 2023, and the seventh straight weekly increase.
If that sounds like a reason to wait, here's the bright side: motivated sellers are negotiating again. Homes are sitting a little longer, price cuts are back, and sellers who need to move are willing to deal. That means there's room to find a bargain now — and refinance down the road when rates ease.
The math is simple: buy the home when the seller is flexible, refinance the rate when the market is. Buyers who sit on the sidelines waiting for the “perfect” rate often end up paying the higher price.
If a move is on your mind, let's talk — I'll help you run the numbers and find the right opportunity in this market.
— Mitch
Mitch & Sheila Real Estate