Mortgage Rates At 7%

Send us a text to chat now! A single Fed decision can ripple straight into your living room and your listing plan. After the Federal Reserve raises interest rates again, mortgage rates respond fast and the 30-year fixed lands right around 7%, a level that can make sellers feel like the floor just dropped out. I walk through what happened with the rate hike, why the unanimous vote matters, and what the market is actually doing with mortgage payments at today’s levels. Then I zoom out to the context most coverage skips: 7% mortgages are close to the long-run historical average. The real disruption isn’t that homes can’t sell, it’s that buyers have to qualify under tighter affordability, and they behave differently when there’s no room to “stretch” the payment. From there, we get practical about selling a house in a high interest rate environment. I explain how to price based on what has closed in the last 30 days, why chasing 2022 numbers backfires, and how presentation and speed can make the difference when buyers are cautious and comparing options. We also talk about the difference between a harder transaction and a weaker asset, especially with many homeowners sitting on record home equity. If you’re thinking about selling this fall, I also share why waiting for rate relief may be a bet against what the Fed is signaling, and what to do if your home needs work or you want to avoid repairs, commissions, and showings. Subscribe for more straight talk, share this with a homeowner who needs it, and leave a review with your biggest question about selling in today’s real estate market.