Mortgage rates are finally trending down, and buyers are jumping back into the market! The Mortgage Bankers Association (MBA) reports that mortgage applications are up 23% compared to the first week of September last year.
That’s a clear signal: as affordability improves, demand follows. If you’ve been waiting to sell—or if your listing expired during the slower months—this may be the moment to act.
Buyer demand is now at its highest level since July, and momentum is building.
Why the Shift?
Earlier this week, the 30-year fixed rate dropped to 6.13%—the lowest since October 2024. That decline came after weaker job growth numbers and speculation that the Federal Reserve could cut interest rates several times this year.
Financial markets moved ahead of the Fed, and mortgage rates responded. Today’s buyers are extremely sensitive to even small changes in rates. With affordability improving, more buyers are leaving the sidelines, and it’s changing the market in real time.
What It Means for Sellers
If you’re thinking about selling, don’t overlook this window. Whether you had an expired listing earlier this year or decided to wait for better conditions, now is the time to reevaluate.
Here’s the opportunity: List now while buyer activity is rising. Beat competing sellers who haven’t yet noticed the shift. Position your home strategically while demand is climbing. If you wait, yes, there may be even more buyers as rates continue downward—but you’ll also face more competition from other sellers entering the market.
A trusted local agent like Scott can help you price strategically, prepare your home to stand out, and make sure it reaches serious buyers who are ready to move today.
Bottom Line
Buyers are responding to lower mortgage rates and making moves. If you’ve been waiting for the right moment to sell, this could be it. Want to position your home for maximum exposure in today’s shifting market? Connect with Scott and The Smolen Team to make sure you take advantage of this opportunity!
