Mortgage rates are still on everyone’s mind — and for good reason. Earlier this month, we saw them dip to the lowest level so far this year at 6.55%. At first glance, that might not seem huge, but for buyers who’ve been waiting (and waiting) for a break, even a small drop is a glimmer of hope that maybe we’re finally heading in the right direction. The question is… are we?
Most forecasts say we shouldn’t expect a dramatic slide anytime soon. Experts predict rates will hover in the mid-to-low 6% range through 2026. So, no big freefall, but small moves — like the one we just saw — are still very possible.
In conclusion, the Portland, Oregon area offers a winning combination of natural beauty, cultural richness, community spirit, and quality of life that make it an ideal place to settle down. Whether you're drawn to its outdoor adventures, artistic endeavors, culinary delights, sense of community, or all of the above, Portland has something for everyone. So why wait? Start planning your move to the Portland area today and get ready to experience all that this amazing region has to offer!
Feel free to schedule a free consultation with me to go over your home buying options in Portland!
Most forecasts say we shouldn’t expect a dramatic slide anytime soon. Experts predict rates will hover in the mid-to-low 6% range through 2026. So, no big freefall, but small moves — like the one we just saw — are still very possible.
The Number Everyone’s Watching
For many buyers, the magic threshold is 6%. And it’s not just because it sounds nice — it actually makes a difference. The National Association of Realtors (NAR) recently reported that if rates hit 6%:
About 5.5 million more households could afford the median-priced home.
Roughly 550,000 people would likely buy within 12–18 months.
That’s a lot of would-be buyers just waiting to jump in. Which leads to the next question: does it make sense to wait for 6%?
The Tradeoff of Waiting
If you’re holding out for that magic number, remember — so is everyone else. When rates do dip, expect more competition, fewer options, and potentially higher prices.
Right now, you’ve got a few advantages that may not stick around:
- More inventory means more choices.
- Slower price growth means more realistic asking prices.
- Room to negotiate could mean a better deal overall.
Final Thoughts…
Your next home could be closer than you think—let’s start the search.
