Mortgage Rates Drop for Sixth Straight Week

Mortgage Rates Drop for Sixth Straight Week: A Bright Spot for East Bay Homebuyers

Good news is finally on the horizon for homebuyers! Mortgage rates have fallen for the sixth consecutive week, with the average 30-year fixed mortgage settling at 6.72%—the lowest since late December. According to CNBC, mortgage applications surged 20% higher last week as more buyers re-entered the market, signaling that competition could be heating up as we head into the spring season.

Why Are Rates Dropping?

Recent economic shifts—particularly a decline in the 10-year Treasury yield—are helping ease mortgage rates. According to Freddie Mac’s Chief Economist Sam Khater, this stability could encourage buyers and sellers to make their moves.

What Does This Mean for Buyers?

Even a small decrease in mortgage rates can significantly impact your monthly payment, making homeownership more within reach. With more buyers jumping into the market, getting pre-approved and locking in a favorable rate could give you a competitive edge before demand rises.

What Does This Mean for Sellers?

For East Bay sellers, falling mortgage rates could be the spark that brings more buyers back into the market—especially after a slower winter season. As affordability improves, more buyers will likely enter the competition, potentially driving up demand for well-priced homes. If you've been waiting for the right moment to list, now may be the time to get your home market-ready. With tight inventory, correctly prepared and strategically marketed homes can stand out and sell quickly. Let's talk about how to maximize your home's value in today's shifting market. It's our specialty!

What's Next?

The spring market typically brings more inventory—but homes can move fast when demand is high. Preparing now can help you act quickly when the right opportunity comes along.

If you're thinking about buying or selling in the East Bay, let's connect to discuss your goals and create a plan that works for you. Opportunity is knocking—are you ready to answer? 925.360.3261