Rates Went Up. Here’s What Came Back.
If the rate headlines this fall have you feeling like a deer in headlights, you're in good company. Lately, half our phone calls start with "So… should we just wait?"
Here's what we're actually seeing.
Rates are higher than they were a month ago. Some buyers have pushed pause. Many more did something smarter. They called their lender, re-ran the numbers, and found out what today's rate means for what they can buy.
That re-calibration changes the room. When fewer buyers are competing for the same house, the buyer gets a say again.
🏡 If you're buying, here's what's potentially back on the table
A home inspection you can use. Not a quick look on the way to waiving it. A real inspection, and a real conversation about what it finds.
Repairs. If the inspection turns up a problem, you can ask the seller to fix it or credit you for it.
An appraisal contingency. The bank sends an appraiser to confirm the house is worth the price. If it comes in low, you renegotiate instead of covering the gap in cash.
Help with your monthly payment. Builders have been offering rate buydowns for months: the seller pays upfront to lower your interest rate. Resale sellers may consider offering one too, by agreeing to seller concessions (money the seller puts toward your costs at closing).
First step: get re-approved at today's rate so you know your real range. Don't have a lender? We'll introduce you to ours. Then we look.
🔑 If you're selling, here's the honest part
The shift isn't happening on every street or in every house. Homes that show well, look cared for, and are staged well are still drawing a crowd. The rest sit.
So price it right from day one, because today's buyer shows up with a calculator. And think like a builder. A seller-paid buydown or a closing cost credit can do more for a buyer's monthly payment than a price cut. We'll run both side by side so you can see which one nets you more.
First step: a walkthrough. Wendy is a licensed GC and runs the repairs, Diana stages, and 42+ hands carry out our Prep Strategy.
This isn't new territory
It's territory we haven't seen in a very long time. After years of a seller's market, this looks a lot more like normal: inspections, appraisals, negotiation, and a little give on both sides.
"The market is cooling" means nothing on its own. It means one thing on a street in Mt. Washington and something else entirely in Howard County.
Real estate is local. Block by block.
Feeling like you're wrangling an alligator with dental floss?
Call us. Every client has a story, a reason, and a timeline. We listen first. Then we build the strategy that gets you to your next goal, your next chapter, your next move.
Let's chat. Megan: 443-955-0540 · megan@yourhomebaltimore.com
