Questions on every home buyer's and homeowner's mind
Should I wait to buy because of the interest rates? Is the market going to crash? What's going to happen to home values? Do I really need an agent? Many first-time buyers today are left wondering if current interest rates are high or low, especially with the 30-year mortgage recently cooling to 6.14% after peaking at nearly 8% in late 2023. While we are seeing some of the lowest levels since early 2026, it is important to remember that the 'ideal' rate of 6% provides a necessary balance for the economy. Rates significantly lower than this can trigger the kind of unchecked demand and risky lending that led to the 2008 crash, whereas much higher rates risk total market stagnation. Ultimately, today’s rates represent a 'sweet spot' that maintains home values without sacrificing the rigorous buyer vetting that keeps our local market stable. This segues into the next question, "Is the market going to crash?" The market doesn't "crash" i...
