[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f3ubtsqmuanltz":3,"$f2emv3tus0uf1":39,"$fbwk2pqjjqsc7":43},{"item":4,"previous":27,"next":33},{"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":25,"updatedAt":26},15374,"homebuyers-are-getting-used-to-the-new-normal","Homebuyers Are Getting Used to the New Normal","\u003Cp>Before you decide to sell your house, it’s important to know what you can expect in the current housing market. \u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230717\u002F20230718-Homebuyers-are-getting-used-to-the-new-normal.jpg","\u003Cp>\u003Cspan style=\"background-color: white; color: black;\">Before you decide to \u003C\u002Fspan>\u003Ca href=\"\u002F2023\u002F07\u002F12\u002Frenting-or-selling-your-house-whats-the-best-move\u002F\" rel=\"noopener noreferrer\" target=\"_blank\" style=\"background-color: white;\">sell your house\u003C\u002Fa>\u003Cspan style=\"background-color: white; color: black;\">, it’s important to know what you can expect in the current \u003C\u002Fspan>\u003Ca href=\"\u002F2023\u002F07\u002F06\u002Ftodays-housing-inventory-is-a-sweet-spot-for-sellers\u002F\" rel=\"noopener noreferrer\" target=\"_blank\" style=\"background-color: white;\">housing market\u003C\u002Fa>\u003Cspan style=\"background-color: white; color: black;\">. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"background-color: white; color: black;\">To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from \u003C\u002Fspan>\u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002Farchive\" rel=\"noopener noreferrer\" target=\"_blank\" style=\"background-color: white;\">\u003Cem>Freddie Mac\u003C\u002Fem>\u003C\u002Fa>\u003Cspan style=\"background-color: white; color: black;\"> since last October. As you can see, \u003C\u002Fspan>\u003Ca href=\"http:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002F\" rel=\"noopener noreferrer\" target=\"_blank\" style=\"background-color: white;\">rates\u003C\u002Fa>\u003Cspan style=\"background-color: white; color: black;\"> have been between 6% and 7% pretty consistently for the past nine months:\u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Ca href=\"\u002Fcontent\u002Fimages\u002F20230717\u002F20230718-The-New-Normal-Mortgage-Rates-Near-6-or-7.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230717\u002F20230718-The-New-Normal-Mortgage-Rates-Near-6-or-7.png\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>\u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fnewsroom\u002Fexisting-home-sales-edged-higher-by-0-2-in-may\" rel=\"noopener noreferrer\" target=\"_blank\">According\u003C\u002Fa> to Lawrence Yun, Chief Economist at the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR), mortgage rates play a significant role in buyer demand and, by extension, home sales. Yun highlights the positive impact of stable rates:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“Mortgage rates heavily influence the direction of home sales. Relatively steady rates have led to several consecutive months of consistent home sales.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>\u003Cstrong style=\"color: black;\">As a seller, hearing that home sales are consistent right now is good news. It means buyers are out there and actively purchasing homes.\u003C\u002Fstrong>\u003Cspan style=\"color: black;\"> Here’s a bit more context on how mortgage rates have impacted demand recently. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"color: black;\">When mortgage rates surged dramatically \u003C\u002Fspan>\u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms\u002Farchive\" rel=\"noopener noreferrer\" target=\"_blank\">last year\u003C\u002Fa>\u003Cspan style=\"color: black;\">, escalating from roughly 3% to 7%, many potential buyers felt a bit of sticker shock and decided to hold off on their plans to purchase a home. However, as time has passed, that initial shock has worn off. Buyers have grown more accustomed to current mortgage rates and have accepted that the record-low rates of the last few years are behind us.\u003C\u002Fspan> As Doug Duncan, SVP and Chief Economist at \u003Cem>Fannie Mae\u003C\u002Fem>, \u003Ca href=\"https:\u002F\u002Fwww.housingwire.com\u002Farticles\u002Fconsumers-may-be-coming-to-terms-with-elevated-rates-and-high-home-prices-fannie-mae\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">says\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“. . . consumers are adapting to the idea that higher mortgage rates will likely stick around for the foreseeable future.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>\u003Cspan style=\"color: black;\">In fact, a recent \u003C\u002Fspan>\u003Ca href=\"https:\u002F\u002Fwww.freddiemac.com\u002Fresearch\u002Fconsumer-research\u002F20230621-housing-sentiment-2Q23\" rel=\"noopener noreferrer\" target=\"_blank\">survey\u003C\u002Fa>\u003Cspan style=\"color: black;\"> by \u003C\u002Fspan>\u003Cem style=\"color: black;\">Freddie Mac\u003C\u002Fem>\u003Cspan style=\"color: black;\"> reveals \u003C\u002Fspan>\u003Cstrong style=\"color: black;\">18%\u003C\u002Fstrong>\u003Cspan style=\"color: black;\"> of respondents say they’re likely to \u003C\u002Fspan>\u003Cstrong style=\"color: black;\">buy a home\u003C\u002Fstrong>\u003Cspan style=\"color: black;\"> in the next six months. \u003C\u002Fspan>\u003Cstrong style=\"color: black;\">That means nearly one out of every five people surveyed plan to buy in the near future. \u003C\u002Fstrong>\u003Cspan style=\"color: black;\">And that goes to show buyers are planning to be active in the months ahead. \u003C\u002Fspan>\u003C\u002Fp>\u003Cp>\u003Cspan style=\"color: black;\">Of course, mortgage rates aren’t the sole factor affecting buyer demand. No matter where mortgage rates stand, people will always have reasons to move, whether it’s for job relocation, changing households, or any other personal motivation. As a \u003C\u002Fspan>\u003Ca href=\"\u002F2023\u002F06\u002F29\u002Fwhere-will-you-go-if-you-sell-newly-built-homes-might-be-the-answer\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">seller\u003C\u002Fa>\u003Cspan style=\"color: black;\">, you can feel confident there is a market for your house today. And that demand is pretty strong as buyers settle into where rates are right now. \u003C\u002Fspan>\u003C\u002Fp>","\u003Cp>The way buyers perceive today’s mortgage rates is shifting – they’re getting used to the new normal. Steady rates are contributing to strong buyer demand and consistent home sales. Let’s \u003Ca href=\"\u002F2023\u002F06\u002F30\u002Fkey-reasons-to-use-a-real-estate-agent-when-you-sell-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">connect\u003C\u002Fa> so we can get your house on the market and in front of those buyers.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230717\u002F20230718-The-New-Normal-Mortgage-Rates-Near-6-or-7.png",false,[17,21],{"id":18,"name":19,"slug":20},6,"For Sellers","sellers",{"id":22,"name":23,"slug":24},35,"Mortgage Rates","mortgage-rates","2023-07-18T10:30:00Z","2023-07-18T10:30:49Z",{"id":28,"slug":29,"title":30,"featuredImage":31,"publishedAt":32,"contentType":10,"isVideo":15},15363,"home-prices-are-rebounding","Home Prices Are Rebounding","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230712\u002F20230717-home-prices-are-rebounding.jpg","2023-07-17T10:30:00Z",{"id":34,"slug":35,"title":36,"featuredImage":37,"publishedAt":38,"contentType":10,"isVideo":15},15375,"explaining-todays-mortgage-rates","Explaining Today’s Mortgage Rates","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fcontent\u002Fimages\u002F20230717\u002F20230719-Explaining-Todays-Mortgage-Rates.jpg","2023-07-19T10:30:00Z",{"cover":40,"open":41,"shareSpread":42},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[44,48,52,53,57,61,65,69,73,74,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154],{"id":45,"name":46,"slug":47},1,"Uncategorized","uncategorized",{"id":49,"name":50,"slug":51},5,"For Buyers","buyers",{"id":18,"name":19,"slug":20},{"id":54,"name":55,"slug":56},7,"Foreclosures","foreclosures",{"id":58,"name":59,"slug":60},8,"Infographics","infographics",{"id":62,"name":63,"slug":64},9,"Home Prices","home-prices",{"id":66,"name":67,"slug":68},11,"First-Time Buyers","first-time-buyers",{"id":70,"name":71,"slug":72},34,"Senior Market","senior-market",{"id":22,"name":23,"slug":24},{"id":75,"name":76,"slug":77},38,"Move-Up","move-up",{"id":79,"name":80,"slug":81},41,"For Sale by Owner","for-sale-by-owner",{"id":83,"name":84,"slug":85},42,"Featured","featured",{"id":87,"name":88,"slug":89},45,"New Construction","new-construction",{"id":91,"name":92,"slug":93},52,"Luxury \u002F Vacation","luxury--vacation",{"id":95,"name":96,"slug":97},53,"Rent vs. Buy","rent-vs-buy",{"id":99,"name":100,"slug":101},80,"Time-sensitive","time-sensitive",{"id":103,"name":104,"slug":105},81,"Outdated","outdated",{"id":107,"name":108,"slug":109},147,"Internal","internal",{"id":111,"name":112,"slug":113},148,"Do Not Autopost","do-not-autopost",{"id":115,"name":116,"slug":117},320,"Inventory","inventory",{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":143,"name":144,"slug":145},327,"Forecasts","forecasts",{"id":147,"name":148,"slug":149},328,"Selling Tips","selling-tips",{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]