Spring Cleaning

Mortgage rates remain one of the biggest hurdles for today’s homebuyers, with the 30-year fixed averaging around 6.8%, more than double the rates seen during the pandemic lows.

While many are hoping for rates to drop before making a move, most experts suggest that waiting may not pay off, as rate cuts (if they happen) aren’t expected to significantly change the affordability landscape anytime soon.

Even if rates do come down, limited housing supply keeps prices high, meaning lower rates could just bring more buyers into the mix and drive competition. Mortgage rates tend to follow the 10-year Treasury yield, not directly the Fed rate, but spreads between the two remain steady, showing that lenders are pricing in risk and costs consistently.

The takeaway: homeownership is still possible, but the best strategy might be focusing less on rate timing and more on what you can realistically afford right now.

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Concessions Session (From Housingwire.com)

Home sellers across the U.S. are offering concessions, like help with closing costs, repairs, or rate buydowns, on nearly half of all home sales, as high prices and mortgage rates continue to squeeze buyers.

According to Redfin, 44.4% of sales in early 2025 included some form of seller concession, nearing record highs as cautious buyers gain more negotiating power. This trend is especially strong in places like Seattle and Portland, where concessions have jumped significantly, while markets like New York City and Miami have seen fewer sellers needing to sweeten the deal.

Rather than slashing listing prices, many sellers are using these concessions as a way to meet buyers halfway without compromising their home’s perceived value. And with demand softening, price cuts, concessions, and even canceled deals are becoming more common features of today’s housing market.

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