I had a couple sit across from me recently — great people, clearly ready — and right before we got into the numbers, the husband leaned back and said, "I just feel like we should wait until things calm down a little." I asked him what "calm" looked like. He paused for a long time. He didn't really know. And honestly, that's where a lot of buyers are right now.
The headlines are loud. The economic news is noisy. And mortgage rates, after trending downward through most of 2025, have climbed back up over the last month or so. Mark Fleming, Chief Economist at First American, put it plainly — rates moved higher because of geopolitical uncertainty and rising energy costs feeding inflation concerns. That's the why behind the number. And the number right now sits in the mid-6s.
Here's what that actually means for you, though.
If you're taking out a loan around $500,000, you're still paying roughly $300 less per month than buyers who purchased early last year. That's not a small thing. The progress that was made in affordability over the past several months hasn't been erased by the last few weeks of movement. The window didn't close — it just shifted a little.
I know. A few weeks ago, rates were just shy of 6%, and that felt better. It was better. But trying to perfectly time a rate drop is a game that almost nobody wins, because by the time the conditions look "perfect," everyone else has noticed too, and competition tightens, prices firm up, and the advantage you were waiting for disappears. The better question isn't "when will rates drop?" It's "what can I do with where things are today?"
And the honest answer is: quite a bit.
For buyers who are serious about moving, there are real strategic options on the table. Adjustable-rate mortgages, for example, can offer a lower rate upfront — which may or may not be the right fit for your situation, but it's the kind of conversation worth having. Down payment assistance programs are still available in many markets. And in some cases, sellers are more willing to negotiate on closing costs or rate buydowns than they were a year ago. The environment isn't perfect, but it isn't closed either.
What matters most right now is having a plan that's built around your life, not around the news cycle. A growing family doesn't pause because rates went up a quarter point. A job relocation doesn't wait for geopolitical calm. And neither should you, if you're ready and your reasons are real.
If you'd like to sit down and actually run the numbers for your specific situation — what your budget looks like at today's rates, what options you have, what your move could realistically look like —
I'd love to have that conversation with you.
One conversation. No pressure. Just clarity.
