10/14/2026
Bargain Hunting With Rates Above 7%
With mortgage rates holding above 7%, I know many folks in Shelby and Jefferson Counties are feeling the pressure as they plan their next move. The recent rise in Treasury yields has nudged borrowing costs even higher, so affordability is front and center for just about everyone I speak with. If you’re strategizing your timing, here’s something I always share: a recent study suggests building a 'rate cushion'—that means preparing for a possible half-point rate change in the next 3 months, three-quarters within 6 months, and a full point in a year.
I’ve found buyers later in the year often gain an edge—homes were typically about 5% less expensive in early Q4 compared to late Q2, and with fewer competing buyers, there’s more room and time to negotiate. Last month’s five-month supply meant stronger bargaining power, whether you’re negotiating price, closing costs, discount points, or even temporary rate buydowns.
If you’re still waiting for the right moment, know that while markets have recently adjusted for the Fed’s moves, the bigger picture is about steadying inflation—which could eventually ease mortgage costs. My approach is always centered on patience and clear guidance, because finding the right home is about more than just numbers—it’s about what fits your life best.
