If you’ve been sitting on the sidelines of the housing market waiting for a sign, this is it. For the first time since September 2022, U.S. mortgage rates have officially dipped below the 6% mark.
According to a new report from Freddie Mac, the average 30-year fixed-rate mortgage fell to 5.98% this week. This isn’t just a number—it’s a major psychological milestone that real estate experts believe will thaw the “frozen” housing market we’ve seen over the last few years.
What does this mean for you?
- More Purchasing Power: Lower rates mean lower monthly payments, allowing you to get more home for your money.
- The “Lock-In” Effect is Breaking: Many homeowners who were reluctant to sell because they didn’t want to give up their pandemic-era low rates are finally finding the “nudge” they need to move. This could lead to more inventory hitting the market.
- Increased Competition: While lower rates are great for your wallet, they also bring more buyers back into the fold.
As housing experts note, if supply doesn’t keep up with this new wave of buyers, prices could begin to climb again. That makes now the ideal window to start your search before the spring rush truly takes hold.
Source: https://www.npr.org/2026/02/26/nx-s1-5726386/home-mortgage-rates-below-6
Ready to find your next home? Whether you’re a first-time buyer or looking to upgrade, the market is shifting in your favor. Don’t wait until the competition heats up! Reach out to me today to discuss your options, get pre-approved, and start touring homes while rates are on your side.
Edith Thellmann – REALTOR®
(806) 440-1740
[email protected]
https://edith-thellmann.com
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