05/31/2026
This!
The people who locked in at 2.7% in 2020 aren't selling.
The people waiting for 3% again aren't buying.
And somehow everyone's surprised the housing market is frozen.
I bought my first home in 2005 at 4.75%. Felt high at the time. Laughable by today's standards.
Here's what nobody wants to hear: 6.53% isn't a crisis. It's closer to the historical norm than most people realize.
1980: 14.4%
1990: 10.1%
2000: 8.0%
2010: 5.0%
We had ONE magical window from 2020 to 2021 where rates dropped to 2.7% and 3.1%. That wasn't normal. That was a once-in-a-generation anomaly that we all got spoiled by.
The buyers sitting on the sidelines waiting for that window to reopen could be waiting a very long time.
I moved to Nashville in 2017. Could I afford to buy my current home at today's prices AND today's rates? No way.
But I also know that people who waited for the "perfect" rate in every decade on that chart still ended up buying eventually... and they're glad they did.
The frozen market isn't a rate problem. It's a psychology problem.
6.53% isn't the villain here. Unrealistic expectations are.