For the past couple of years, many homebuyers have felt squeezed out of the market as prices and mortgage rates climbed. If you’ve been waiting for a better moment to jump back in, there’s finally some encouraging news this fall.
According to the latest data from Redfin, the typical monthly mortgage payment is now about $290 lower than it was just a few months ago. That shift comes from three key changes working in buyers’ favor:
✅ Mortgage rates are easing. Rates have dropped from around 7% in May to roughly 6.3% today, cutting monthly payments for many buyers.
✅ Home price growth has slowed. Instead of double-digit jumps, prices are now rising at a much more modest pace—making it easier to budget.
✅ Wages are catching up. With wages up about 4% annually, incomes are finally outpacing home price growth, giving buyers more breathing room.
While affordability is still a challenge, the numbers are improving—and this could be the window you’ve been waiting for.
If you’ve been considering buying a home, let’s connect and re-run your numbers together. A fresh look at your budget may reveal that homeownership is more within reach than you think.
📞 Call or text me today at (267) 994-9879 or visit therealestatemike.com to get started.
Your trusted partner in real estate,
Michael Olubajo
Associate Broker | Coldwell Banker Realty
License #: AB069542
📱 (267) 994-9879
📧 michael.olubajo@cbpref.com
🌐 therealestatemike.com
