How Falling Rates and Rising Wages Are Helping Buyers This Season
Sep 22, 2025
How Falling Rates and Rising Wages Are Helping Buyers This Season
Making Homeownership Possible This Fall
If you’ve been waiting for the right time to buy a home, this fall might finally be your moment to make it happen. Here’s why:
According to the Keeping Current Matters, for the past few years, many homebuyers have faced a tough market. Rapidly rising home prices and higher mortgage rates forced some to put their plans on hold. Maybe you were one of them.
The good news? This fall, the market is showing signs of relief. Affordability is improving, and for buyers ready to act, there may finally be an opportunity to make the numbers work.
1. Mortgage Rates Are Easing
Mortgage rates have come down from their peak earlier this year. While they were hovering around 7% in May, today they’re closer to 6.3%. It might seem like a small change, but even a fractional drop can significantly reduce your monthly payment. For example, on a $400,000 mortgage, a rate drop like this could save around $190 per month.
Lower rates are already driving more buyer activity. According to recent reports, purchase applications are up compared to last year, showing that more people are ready to take the next step.
2. Home Prices Are Stabilizing
After years of rapid increases, home price growth is slowing, and in some areas, prices have even dipped slightly. This moderation makes it easier to plan your budget and find a home that fits your financial goals. Slower price growth doesn’t mean you can wait forever—homes are still selling quickly—but it does make the market more manageable for buyers.
3. Wages Are Increasing
On top of lower rates and steady prices, wages are growing at a healthy pace—around 4% annually. That means, in many cases, income growth is outpacing home price increases. For buyers, this combination creates a little extra breathing room in their budget, helping make homeownership more attainable.
Our Advice
If you’ve been wondering whether now is the right time to buy, the best step is to run the numbers with a professional. Together, we can review your budget, explore your options, and determine if this season is the perfect moment to move from window-shopping to turning the key in your new home. Contact us today.
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Source: www.keepingcurrentmatters.com
If you’ve been waiting for the right time to buy a home, this fall might finally be your moment to make it happen. Here’s why:
According to the Keeping Current Matters, for the past few years, many homebuyers have faced a tough market. Rapidly rising home prices and higher mortgage rates forced some to put their plans on hold. Maybe you were one of them.
The good news? This fall, the market is showing signs of relief. Affordability is improving, and for buyers ready to act, there may finally be an opportunity to make the numbers work.
1. Mortgage Rates Are Easing
Mortgage rates have come down from their peak earlier this year. While they were hovering around 7% in May, today they’re closer to 6.3%. It might seem like a small change, but even a fractional drop can significantly reduce your monthly payment. For example, on a $400,000 mortgage, a rate drop like this could save around $190 per month.
Lower rates are already driving more buyer activity. According to recent reports, purchase applications are up compared to last year, showing that more people are ready to take the next step.
2. Home Prices Are Stabilizing
After years of rapid increases, home price growth is slowing, and in some areas, prices have even dipped slightly. This moderation makes it easier to plan your budget and find a home that fits your financial goals. Slower price growth doesn’t mean you can wait forever—homes are still selling quickly—but it does make the market more manageable for buyers.
3. Wages Are Increasing
On top of lower rates and steady prices, wages are growing at a healthy pace—around 4% annually. That means, in many cases, income growth is outpacing home price increases. For buyers, this combination creates a little extra breathing room in their budget, helping make homeownership more attainable.
Our Advice
If you’ve been wondering whether now is the right time to buy, the best step is to run the numbers with a professional. Together, we can review your budget, explore your options, and determine if this season is the perfect moment to move from window-shopping to turning the key in your new home. Contact us today.
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Source: www.keepingcurrentmatters.com