Blog Post: Rates Just Hit a 45-Day Low on Friday, June 13th And Buyers Are Watching Closely
Mortgage rates just dropped to their lowest point in 45 days, and even small changes in rates can make a big difference. A 0.25% drop on a $600,000 mortgage translates to about $100 a month saved. That is not just a number, that is real money buyers can use for groceries, gas, daycare, or simply some peace of mind. And when buyers feel that shift, confidence begins to return to the market.
We’re Already Seeing the Impact
This week alone, mortgage applications jumped 10 percent over the previous week and are up 20 percent year-over-year. That is a clear signal — buyers are watching the market closely, researching daily, and preparing to act.
I see this firsthand. My buyers are looking at their personalized home search portals every single day. They know what a good value looks like. They know what they want. And they understand what it costs. The home must wow them, not just in features, but in overall value.
Buyers View Homes Through 3 Lenses
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Price (most important right now)
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Condition
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Location
Buyers want all three, but realistically they usually get two. Right now, price is driving decisions. If a home does not align with what they have seen recently, what is currently listed, and what they think is coming, they will wait. But that does not mean they are not ready. They are just being strategic.
A Word to Sellers
If you are planning to list your home, now is the time to take preparation seriously. Price your home correctly, make the updates your agent recommends, do all deferred maintenance, and align with current buyer expectations. Even location and condition can be overcome if the home is priced right.
Here in Colorado Springs, I felt the shift about five weeks ago. Buyer activity is increasing, but they are more informed than ever. They are ready — and when your home hits the mark on price, condition, and location, they will act.
A Note to Buyers
You do not have to wait for mortgage rates to drop. We currently have more inventory and less buyer participation than we have seen in over 30 years. That gives you real negotiating power. Many sellers are now motivated. This is your chance to secure a better deal.
I am strategic in how I guide each of my clients, using data on days on market, location trends, and a deep knowledge of this market. Reach out with any and all questions, so you can move forward with clarity and confidence.
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About the Author
Nicole Strom
Nicole is a retired military spouse of over 25 years, as well as a full time Real Estate Professional serving her clients in and around Colorado Springs.
You need a REALTOR® with vast experience and knowledge of our specific market. You need a REALTOR® that genuinely cares about you and puts your needs first. You need a REALTOR® you can trust. Nicole is that REALTOR®.
