Record-low mortgage rates defined an era of homebuying. With today’s rates trending in the mid-6 percent range, many are wondering if 3 percent financing will ever come back. At Corken + Company, we help our clients cut through the noise, understand the data, and move forward with clarity—no matter where rates are headed.
What’s Happening with Rates Right Now
Rates today sit between 6 and 7 percent for many borrowers. That’s a far cry from the 2.5 to 3.5 percent averages we saw during peak pandemic years. But it’s important to understand that those rates were the result of extremely rare economic conditions that aren’t likely to repeat soon.
Rates are now shaped by broader inflation control, long-term Federal Reserve policy, and global market trends. This isn’t temporary turbulence—it’s the start of a more stabilized and predictable lending environment.
Why 3 Percent Is Unlikely Anytime Soon
Getting back to 3 percent would require a major economic slowdown or recession paired with aggressive Fed intervention. Most economists agree that even with modest declines ahead, rates in the 5 to 6 percent range are a more realistic target in the near future.
That means waiting for a return to 2020-level financing could mean missing out on strong inventory, price growth, or favorable timing in your life or investment plan.
How to Approach the Market Now
If you’re hoping to buy this year or next, here’s how to work smarter with today’s rates:
Explore rate buydown options
Sellers or builders may offer to contribute toward a lower interest rate. A permanent or temporary buydown can make monthly payments more manageable without sacrificing purchase power.
Consider adjustable-rate mortgages (ARMs)
If you know you’ll move, refinance, or upgrade within 5 to 7 years, an ARM can offer a lower starting rate than a traditional 30-year fixed.
Stay close to market movement
Daily and weekly rate shifts create pockets of opportunity. Working with a broker and lender who monitor those trends gives you a better chance of locking in at the right time.
What Corken + Company Brings to the Table
We do more than help you find the right property. We connect you with trusted lending partners who offer strategic options that fit your budget and your long-term goals.
When we know your rate range and financing plan, we tailor your search to homes that align with your full financial picture—not just the list price. We also time offers and negotiations to reflect current rate trends, giving you an edge when timing matters.
If you’re not sure whether now is the right time to buy, or if you’re waiting for rates to drop further, let’s talk through your options. The best move often isn’t about waiting—it’s about planning with the right team.
Reach out at www.corken.co or call 303-858-8003
Corken + Company | Real Estate Solutions Without Limits
