09/16/2026
Lawrence Yun, Chief Economist for the National Association of Realtors, says we should expect mortgage rates around 7% to be the "new normal," at least for now.
That may sound discouraging. But maybe itโs time to stop waiting for the old โnormalโ to come back.
Because life doesnโt wait for interest rates.
People get married. Families grow. Jobs change. Kids leave home. People relocate, retire, inherit property, build wealth, need more space or decide they want less.
And sometimes, the right house comes along at the wrong interest rate.
So instead of asking, โWhen will rates come back down?โ maybe the better question is:
โDoes buying or selling make sense for me right now?โ
That answer is about much more than a mortgage rate. Itโs about the price, monthly payment, available inventory, negotiating leverage, seller concessions, financing options, equity, how long you plan to stay and what waiting might cost you.
Remember, a home purchased today does not necessarily come with todayโs interest rate forever. If rates decline later, refinancing may be an option. But the house, price or negotiating opportunity you have today may not be there
The market changed.
Maybe our thinking needs to change with it.
Thank you Elizabeth J Mendenhall for sharing!