Mortgage Rates Just Hit Their Lowest Level Since 2022 — What That Means for Buyers and Sellers
Recent data shows mortgage rates have drifted back toward the high-5% range — the lowest levels we’ve seen since 2022.
While that may sound like a small shift, in real estate, small rate movements can have a significant impact.
The Real-World Example
On a $900,000 home purchase with 20% down:
- Today: approximately $4,275/month
- One year ago: approximately $4,740/month
That’s about a $465 per month difference.
Over a year, that’s more than $5,500 in payment difference.
Small rate changes affect:
- Buyer affordability
- Qualification thresholds
- Confidence levels
- Market activity
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Kalani Stone
Agent Lic# CalBRE: 01336392