07/31/2026
Mortgage rates have crept up since January - the Iran war and the inflation it created being the primary driver of that, and it has has created some uncertainty - and quite a few clients are wondering if now is a good time or a bad time to be buying a home.
We approach that question from an analytical standpoint, i.e., what does the data say? Today’s 30‑year fixed is sitting around 6.66%, and when you look back to when rates started climbing after COVID, that actually puts us pretty much in the middle part of the 'rate bandwith' —not at the top. Over the last year and a half or so, we’ve mostly bounced between the mid‑6s on the low end and upper‑6s on the high end. And today is basically right in that same spot.
Meanwhile, the housing market itself - especially in the PDX area - way more stable than it was in 2021–2022. Prices aren’t flying off the charts, sellers more open to negotiating closing cost credits and repairs. And the brutal rate peaks --- 8% --- we saw in 2023 and 2024 --- thankfully we’re not there anymore.
So if you’ve been waiting because “rates are too high,” it might be time to rethink that, mainly because the expectation is that rates are going to stay in this bandwidth for at least another 12 to 18 months. Getting into the right house, at a fair price with a solid plan, can matter more than trying to time the perfect rate. You can always look at refinancing down the road if things improve.
If you want to talk through what this looks like for your budget and goals, reach out— David and I are happy to run numbers with you and be straight about whether now makes sense or not. - Bri Lindley
