If you’ve been lurking on Zillow like it’s TikTok but haven’t made a move because “the payment would probably kill me,” — good news. The housing market finally delivered something we haven’t seen in over two years:
👉 Homes are actually (kind of) becoming more affordable again.
No, we’re not back to 2020-level cheap rates… but the trend is finally moving in your favor instead of against you.
So What Changed?
A few things all clicked at once:
| What Happened | Why You Should Care |
|---|---|
| Mortgage rates dipped to around 6.2%–6.3% | Lower rate = lower monthly payment (even a 0.5% drop can save you ~$150/month on an average loan). |
| Home price growth slowed down | Prices aren’t running away from you like they were last year. |
| Borrowers today are stronger financially | Lenders are approving more buyers — especially those with solid credit and reasonable debt. |
Bottom line: You now need less income to qualify for the same house compared to last year.
Real Talk: What Does This Mean For You?
If you ran numbers last year and felt crushed… it may be worth running them again.
Here’s a simple example:
| Last Year | Today |
|---|---|
| 7.5% rate on $400K home → ~$2,800/mo payment | 6.25% rate on same $400K home → ~$2,400/mo payment |
That’s $400/month saved — just from the rate drop. That’s like getting a free car payment back in your pocket.
“Okay, So Should I Buy Right Now?”
Let’s break it down.
You should get serious if:
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You’ve been waiting for a window where payments make sense again
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Your credit is improving (620+ is workable, 700+ is 🔥)
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You’re renting and watching prices slowly inch upward anyway
You should not panic-buy if:
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You’re barely scraping together savings
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You don’t have job stability
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You just want to buy because everyone else is
Buying is smart. Rushing is not.
How to Get Positioned Like a Pro
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Check your credit — Lenders are rewarding high scores with better rates.
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Pay down debt where you can — Your debt-to-income ratio (DTI) matters a lot.
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Talk to a lender for real numbers — Not the internet’s random mortgage calculator.
Final Thought:
This isn’t a once-in-a-lifetime deal — but it is the best opportunity buyers have had since early 2023.
The market won’t stay calm forever. If you’ve been waiting for “a sign”…
This is it.