You might’ve noticed something quietly different in the housing world: mortgage rates have ticked down to their lowest point in over three years. The 30-year fixed rate sits around 6.06%, down from over 7% this time last year, and that’s not just theory, it’s what lenders across the country are reporting.
Now, before you call your broker in a frenzy, let’s unpack what that actually means.
Rates aren’t back to the ultra-low era of early 2020, and they probably won’t be any time soon. But this decline matters because it changes the math for more people.
Lower rates increase affordability on the margin. That can help buyers feel more confident in their payment calculations, and sellers can benefit from a broader pool of qualified buyers who can now run the numbers with a bit more breathing room.
But here’s the part most people miss:
the noise about rates isn’t as important as your preparation for them.
If you’re curious how current rates translate to real numbers, JVM Lending is a solid place to look. They publish today’s mortgage rates and simple tools to explore scenarios without pressure. It’s a helpful way to understand what the current environment could mean for you before making any decisions.
