Mortgage Rates Dropped – What Does That Mean for You?

Mortgage rates just dropped last week—and this is the first meaningful relief we’ve seen in months. Right now, the average 30-year fixed mortgage rate is in the mid-6% range, down from just over 7% earlier this year.




Now, half a point might not sound like much, but when you run the numbers, it’s huge. On a typical home, that’s about $150 less per month—nearly $2,000 a year. Over the life of a loan, that savings can add up to tens of thousands of dollars.

So, what’s driving this? The latest job market data came in weaker than expected, and that has markets betting the Federal Reserve may start cutting rates. That’s pushed Treasury yields lower, and mortgage rates usually follow.

But here’s the important part: we don’t know how long this window will last. Rates move quickly with the economy, and they could climb back up just as fast as they fell.

For buyers, this is a golden opportunity. Lower rates improve your buying power, expand your home options, and make your monthly payment more manageable. If you’ve been waiting for the right time to jump in, this could be it.

For sellers, this shift matters too. More buyers can now afford to get back into the market. That can mean more showings, more offers, and potentially stronger pricing power for your home. If you’ve been hesitant about listing, this could be the moment to capture renewed demand.

And through all of this—I’m here to help you. Whether you’re buying your first home, upgrading, downsizing, or selling to make your next move, I’ll guide you every step of the way. From connecting with trusted lenders, to prepping your home for sale, to negotiating the best terms, I’ll make sure you’re positioned to take full advantage of this market shift.

The bottom line is simple: rates just dropped, giving both buyers and sellers an opportunity we haven’t seen in months. The question is—will you take advantage of it while it’s here?