📉 Mortgage Rates Just Dropped — Here’s What It Means for Homebuyers

If you’ve been sitting on the sidelines waiting for the “perfect time” to buy a home, this might be your moment. Mortgage rates have taken a dip, giving buyers across the country — and right here in San Diego — more buying power than they’ve had in months.

Let’s break down what this means for you and why it could be the window of opportunity you’ve been waiting for.

💡 Why the Mortgage Rate Drop Matters

When mortgage rates fall, your monthly payment can decrease significantly — even if home prices stay the same. A lower rate means:

• Lower monthly mortgage payments

• Potentially qualifying for a higher-priced home

• Saving thousands of dollars over the life of your loan

Example:
Last month, a $700,000 home at 6.75% interest could have meant a monthly payment of around $4,540 (principal & interest). With a 6.25% rate, that payment could drop by about $230 per month — that’s over $2,700 in annual savings.

🏡 More Buying Power in Action

Lower rates don’t just save you money — they give you more options. You may now be able to:

• Look in neighborhoods that were slightly out of reach before

• Consider homes with more features or upgrades

• Compete more strongly in multiple-offer situations

⏳ Why You Shouldn’t Wait Too Long

Mortgage rates can change quickly based on economic data, inflation reports, and Federal Reserve policy. If you wait too long, the rates could climb back up, reducing your affordability again. Acting now could lock in your advantage before the market shifts.

📲 Let’s Find Out Your New Buying Power

Whether you’re a first-time buyer or looking to upgrade, this rate drop could be your golden ticket to securing a better deal.

Contact me today and I’ll run a personalized buying power report based on today’s rates — so you know exactly what’s possible.