Mortgage rates are still hovering under 7%, but for many buyers, that’s higher than they’d like. The good news? Some lenders are getting competitive, with a few even rolling out sub-4% mortgage deals. Santander, for example, recently introduced a 3.99% fixed-rate option for borrowers with a strong down payment or at least 40% home equity.
For Buyers: How to Make the Most of the Market
Higher rates mean higher monthly payments, so affordability is a key factor right now. The best move? Shop around. Some lenders are offering better deals than others, and working with a mortgage broker could help you find hidden opportunities. If you’re serious about buying, locking in a rate sooner rather than later might be a smart play before any further increases.
For Sellers: Standing Out in a Changing Market
With rates squeezing buyer budgets, pricing your home right is more important than ever. Well-staged, move-in-ready homes tend to get the most attention, and offering small incentives—like covering part of the closing costs or helping with a rate buydown—can give you an edge. The market is shifting, but the right strategy can still get you a solid deal.
Even with rising rates, buyers and sellers can still make moves—it just takes the right approach.