Mortgage Rates Are Dropping – And Buyers Are Jumping Back In

Good news for homeowners: mortgage rates are finally moving in the right direction, and buyers are taking notice.

The Mortgage Bankers Association (MBA) reports that home loan applications are up 23% compared to the same week last year. That surge came right after the 30-year mortgage rate fell to 6.13% – the lowest level since October 2024. With speculation that the Federal Reserve may cut rates again, affordability is improving and buyers are rushing back into the market.

Why This Matters for Sellers

For the past year, buyer demand has been stuck in a holding pattern. But now, as rates fall, more buyers are reentering the market. If your listing expired earlier this year or you’ve been waiting for the “right time” to sell, this could be the opening you’ve been waiting for.

Here’s the catch: you’re not the only homeowner watching the market. If you list now, you’ll get in front of rising buyer demand before other sellers catch on. Wait too long, and you may face more competition as inventory grows.

The Bottom Line

Buyers are responding quickly to lower rates – and they’re ready to act. Listing your home now gives you the advantage of higher demand and less competition.

A trusted local agent can help you:

• Price your home strategically

• Highlight its best features

• Make sure it stands out to today’s motivated buyers

If you’ve been waiting for your chance, it’s here. Connect with a local real estate expert and position your home to sell while momentum is building.