09/16/2026
š” Why does this matter for people buying or selling at Eagle Lake?
You might look at national mortgage news and think, āEagle Lake properties arenāt typically purchased with traditional mortgages, so what does this have to do with us?ā
Actually, quite a bit.
Homes.com is reporting that refinance applications are down 65% compared with the same time last year, while purchase mortgage applications are down 19%. Mortgage rates have also climbed, with the average 30-year fixed rate cited at 7.22%.
Eagle Lake is a vacation and recreational property market, and many of our buyers purchase with cash or use equity from their primary homesāsuch as a HELOC or other financingāto help fund their purchase.
When borrowing becomes more expensive and homeowners become less inclined to refinance or tap their equity, it can potentially trickle down into discretionary purchases like vacation properties.
That doesnāt mean people arenāt buying at Eagle Lakeāthey absolutely are. But it DOES help explain why whatās happening in the larger housing and lending markets matters to our little vacation market, too.
For sellers, this is why pricing matters more than ever. Buyers have choices, and when the cost of borrowing rises, theyāre going to be even more careful about where and how they spend their money.
And for buyers? There may be opportunities when youāre prepared to purchase and understand the market.
Eagle Lake doesnāt operate in a bubble. What happens in the broader economy can eventually make its way to our vacation-property market too.
Read the Homes.com article
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