What homebuyers should (and shouldn’t) do when mortgage rates drop

To take advantage of this new affordability in the mortgage market, homebuyers should consider the following dos and don’ts now:

Do: Get pre-approved
Getting pre-approved is one of the smartest first steps you can take. It gives you a clear idea of what you can afford and helps narrow your home search. Even better, sellers see pre-approved buyers as serious and prepared — exactly the kind of offer they’re more likely to accept. Please reach out if you need a referral to a good lender.

Don’t: Count on rates to keep dropping
With rates having been around 7% earlier this year, it’s tempting to think they’ll keep heading lower. But mortgage rates don’t follow a predictable path — they can rise again if market conditions change.

Do: Start home hunting
Begin by narrowing down the type of home that best fits your lifestyle and goals.
Do you want acreage? Off-grid? Above or below the snow line? Distance to town?
I’d be happy to work with you to identify the right properties, schedule showings, and make the process smooth from start to finish. As rates shift, new homes and opportunities appear — and starting now can give you a competitive advantage.

Don’t: Assume the conventional homebuying seasonal rules apply
New, lower rates are likely to bring buyers back into the market quickly — and that could throw the usual seasonal trends out the window. Don’t expect fewer competitors just because it’s fall or the holidays. With plenty of pent-up demand, especially as rates edge closer to the 5% range, you can anticipate busier open houses, multiple offers, and less flexibility from sellers than you’d normally see this time of year.

I can help you navigate this active market, identify opportunities quickly, and make sure you’re ready when the right home appears.