[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fj4jekkjn2ejl":3,"$ffeh0925h8cuz":47,"$fbwk2pqjjqsc7":51},{"item":4,"previous":35,"next":41},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":33,"updatedAt":34},3705,"two-graphs-that-show-why-you-shouldnt-be-upset-about-3-mortgage-rates","Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates","With the average 30-year fixed mortgage rate from \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002F\">\u003Cem>Freddie Mac\u003C\u002Fem>\u003C\u002Fa> climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F10\u002F12\u002Fdont-wait-for-a-lower-mortgage-rate-it-could-cost-you\u002F\">project\u003C\u002Fa> rates will rise further in the coming months, that conversation isn’t going away any time soon.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F11\u002F04171114\u002F20211108-KCM-Share.jpg","With the average 30-year fixed mortgage rate from \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002F\">\u003Cem>Freddie Mac\u003C\u002Fem>\u003C\u002Fa> climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F10\u002F12\u002Fdont-wait-for-a-lower-mortgage-rate-it-could-cost-you\u002F\">project\u003C\u002Fa> rates will rise further in the coming months, that conversation isn’t going away any time soon.\u003C!--more-->\r\n\r\nBut as a homebuyer, what do \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F10\u002F05\u002Fthe-main-key-to-understanding-the-rise-in-mortgage-rates\u002F\">rates\u003C\u002Fa> above 3% \u003Cem>really\u003C\u002Fem> mean?\r\n\u003Ch4>\u003Cstrong>Today’s Average Mortgage Rate Still Presents Buyers with a Great Opportunity\u003C\u002Fstrong>\u003C\u002Fh4>\r\nBuyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective. The \u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002Fpmms_archives.html\">graph\u003C\u002Fa> below shows today’s rate in comparison to average rates over the last five years:\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F11\u002F04170934\u002F20211108-MEM-ENG-1.png\">\u003Cimg class=\"aligncenter wp-image-45456\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F11\u002F04170934\u002F20211108-MEM-ENG-1.png\" alt=\"Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>As the graph shows, even though today’s rate is above 3%, \u003Cstrong>it’s still incredibly competitive. \u003C\u002Fstrong>\r\n\r\nBut today’s rate isn’t just low when compared to the most recent years. To truly put today into perspective, let’s look at the last 50 years \u003Cem>(see graph below):\u003C\u002Fem>\u003Ca href=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F11\u002F04171031\u002F20211108-MEM-ENG-2.png\">\u003Cimg class=\"aligncenter wp-image-45457\" src=\"https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F11\u002F04171031\u002F20211108-MEM-ENG-2.png\" alt=\"Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>When we look back even further, we can see that \u003Cstrong>today’s rate is truly outstanding by comparison\u003C\u002Fstrong>.\r\n\u003Ch4>\u003Cstrong>What Does That Mean for You?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nBeing upset that you missed out on sub-3% mortgage rates is understandable. But it’s important to realize, buying now still makes sense as \u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F11\u002F03\u002Fexperts-project-mortgage-rates-will-continue-to-rise-in-2022\u002F\">experts project\u003C\u002Fa> rates will continue to rise. And as rates rise, it will cost more to purchase a home.\r\n\r\nAs Mark Fleming, Chief Economist at \u003Cem>First American\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Fblog.firstam.com\u002Feconomics\u002Fhow-will-rising-mortgage-rates-impact-house-buying-power\">explains\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“Rising mortgage rates, all else equal, will diminish house-buying power, \u003Cstrong>meaning it will cost more per month for a borrower to buy ‘their same home.’”\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fblockquote>\r\nIn other words, \u003Cstrong>the longer you wait, the more it will \u003C\u002Fstrong>\u003Ca href=\"https:\u002F\u002Fwww.simplifyingthemarket.com\u002F2021\u002F09\u002F23\u002Ftwo-reasons-why-waiting-a-year-to-buy-could-cost-you\u002F\">\u003Cstrong>cost you\u003C\u002Fstrong>\u003C\u002Fa>\u003Cstrong>.\u003C\u002Fstrong>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nWhile it’s true today’s average mortgage rate is higher than just a few months ago, 3% mortgage rates shouldn’t deter you from your homebuying goals. Historically, today’s rate is still low. And since rates are expected to continue rising, buying now could save you money in the long run. Let’s connect so you can lock in a great rate now.","\r\nWhile it’s true today’s average mortgage rate is higher than just a few months ago, 3% mortgage rates shouldn’t deter you from your homebuying goals. Historically, today’s rate is still low. And since rates are expected to continue rising, buying now could save you money in the long run. Let’s connect so you can lock in a great rate now.","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F11\u002F04170934\u002F20211108-MEM-ENG-1.png",false,[17,21,25,29],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},11,"First-Time Buyers","first-time-buyers",{"id":26,"name":27,"slug":28},35,"Mortgage Rates","mortgage-rates",{"id":30,"name":31,"slug":32},38,"Move-Up","move-up","2021-11-08T11:00:45Z","2021-11-08T11:00:46Z",{"id":36,"slug":37,"title":38,"featuredImage":39,"publishedAt":40,"contentType":10,"isVideo":15},3704,"numbers-dont-lie-its-still-a-great-time-to-sell-infographic","Numbers Don’t Lie – It’s Still a Great Time To Sell [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F11\u002F04145445\u002F20211105-KCM-Share.png","2021-11-05T10:00:20Z",{"id":42,"slug":43,"title":44,"featuredImage":45,"publishedAt":46,"contentType":10,"isVideo":15},3706,"how-sellers-win-when-housing-inventory-is-low","How Sellers Win When Housing Inventory Is Low","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F11\u002F05124643\u002F20211109-KCM-Share.jpg","2021-11-09T11:00:14Z",{"cover":48,"open":49,"shareSpread":50},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[52,56,57,61,65,69,73,74,78,79,80,84,88,92,96,100,104,108,112,116,120,124,128,132,136,140,144,148,152,156],{"id":53,"name":54,"slug":55},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":58,"name":59,"slug":60},6,"For Sellers","sellers",{"id":62,"name":63,"slug":64},7,"Foreclosures","foreclosures",{"id":66,"name":67,"slug":68},8,"Infographics","infographics",{"id":70,"name":71,"slug":72},9,"Home Prices","home-prices",{"id":22,"name":23,"slug":24},{"id":75,"name":76,"slug":77},34,"Senior Market","senior-market",{"id":26,"name":27,"slug":28},{"id":30,"name":31,"slug":32},{"id":81,"name":82,"slug":83},41,"For Sale by Owner","for-sale-by-owner",{"id":85,"name":86,"slug":87},42,"Featured","featured",{"id":89,"name":90,"slug":91},45,"New Construction","new-construction",{"id":93,"name":94,"slug":95},52,"Luxury \u002F Vacation","luxury--vacation",{"id":97,"name":98,"slug":99},53,"Rent vs. Buy","rent-vs-buy",{"id":101,"name":102,"slug":103},80,"Time-sensitive","time-sensitive",{"id":105,"name":106,"slug":107},81,"Outdated","outdated",{"id":109,"name":110,"slug":111},147,"Internal","internal",{"id":113,"name":114,"slug":115},148,"Do Not Autopost","do-not-autopost",{"id":117,"name":118,"slug":119},320,"Inventory","inventory",{"id":121,"name":122,"slug":123},321,"Agent Value","agent-value",{"id":125,"name":126,"slug":127},322,"Affordability","affordability",{"id":129,"name":130,"slug":131},323,"Buying Tips","buying-tips",{"id":133,"name":134,"slug":135},324,"Downsize","downsize",{"id":137,"name":138,"slug":139},325,"Economy","economy",{"id":141,"name":142,"slug":143},326,"Equity","equity",{"id":145,"name":146,"slug":147},327,"Forecasts","forecasts",{"id":149,"name":150,"slug":151},328,"Selling Tips","selling-tips",{"id":153,"name":154,"slug":155},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":157,"name":158,"slug":159},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]