As a real estate professional, I’ve seen some things that would drive a weaker woman to whiskey. I’ve seen buyers cry in kitchens (and not just because of the backsplash). I’ve seen sellers list their homes for the price of a small country. I’ve written contracts at midnight, talked nervous first-timers off the ledge, and yes, I’ve survived the great toilet paper staging shortage of 2020.
But lately? The greatest challenge isn’t picky buyers or appraisers whose sole mission in life is to kill agents’ deals. No, friends—it’s the interest rate. That little percentage is out here acting like it pays rent and has an opinion.
Real Talk: This Interest Rate Is Killing the Vibe
Let me paint you a picture. A couple falls in love with a home. Perfect location. Dream kitchen. Room for a dog and maybe even a baby. I run the numbers, and BAM—they realize their monthly payment is now the same as a luxury car lease… for two luxury cars.
And one of them is on fire.
Cue the heartbreak. Cue the “maybe next year.” Cue me whispering sweet nothings to my lead tracker like, “It’s okay…they’ll be back…someday.”
Let me give you some more straight talk. This interest rate is also tanking the housing market. Maybe you think you already know why, but do you? Really?
Here’s Why We Need the Rate to Chill Out
1. Buyers Are Holding Back Like It’s a Junior High School Dance
Remember school dances? Everyone standing around awkwardly waiting for someone else to make a move? That’s the housing market right now. Buyers are hesitant, sellers are salty, and I’m just here holding my clipboard like a chaperone, wondering when the DJ will play something from the 80s.
A lower interest rate would be the Michael Jackson song that gets everybody on the dance floor.
2. Sellers Need Hope Too (and a Little Motivation)
Right now, many sellers are locked into 2-3% rates on their current homes and looking at the 7% market like, “Eh… we’re good.” I can’t blame them. But if rates dropped, we’d see more listings, more movement, and fewer homeowners treating their current mortgage like it’s a family heirloom.
Why is this important? I’m so glad you asked.
- Lower rates mean lower mortgage payments bringing buyers back into the market.
- More buyers mean more demand and more movement in this stagnant housing market.
- Sellers would start to sell again, bringing more inventory back into the market and balancing supply and demand.
- Overall this creates a healthier market cycle.
Moving on….
3. I Would Like to Sell a House Without Explaining What a 2-1 Buydown Is
Every conversation starts the same way: “Well, the rate’s high, but have you heard of a 2-1 buydown?” By the end of the explanation, I feel like I’ve taught a semester of Econ 101 with none of the tenure. I’m not saying I mind educating people—but could we go back to a time when getting a mortgage didn’t require a spreadsheet, a prayer, and a nervous breakdown?
4. I Miss the Excitement
Remember 2020-2021, when rates were low and buyers were practically sprinting toward open houses like it was Black Friday at Best Buy? Was it chaotic? Yes! But it felt like one never-ending real estate party. Now it’s like the party ended, and someone turned on the fluorescent lights. We need a little spark again. I’m not saying we go back to 20-21. For a variety of reasons. Neither Covid nor that housing market was exactly healthy. Pretty sure we all needed therapy after that season. But what about in the form of a 4.5% interest rate and a fresh batch of motivated buyers?
In Conclusion: Do It for the Deals, Jerome
So, if anyone from the Fed is reading this: I get it, inflation is a thing, the economy is complicated, and you’ve got a lot on your plate. Dear Lord, somebody give Trump a Benadryl.
But please… think of the real estate professionals. Think of the buyers. Think of the lonely For Sale signs swaying in the wind like forgotten dreams.
Lower the rate. Reignite the market. And let me go back to writing offers that don’t require a personal essay, three co-signers, and a letter from the Pope.
With love (and a stack of business cards I can’t get rid of), Your Friendly Neighborhood Real Estate Pro
The Overly Caffeinated Agent 