Headed Into Fall: Rates Easing, Activity Rising?

As we head into the last weeks of summer, I’m hearing (and seeing) more activity, more inquiries, and more homes stepping onto the market. If history is a guide, after Labor Day - in September and the fall season tend to be busy in our area, and early signs point that way again.

The mortgage interest rate picture—helpful, but not “there” yet

Recent headlines note that 30-year mortgage rates have eased to their lowest level since April. That’s encouraging and exactly what the market needs to bring more buyers off the sidelines. When you zoom out over the last 12 months, though, the trend shows we’re still above last September’s lows—so there’s room to fall before we match that environment.

A practical marker to watch: when 30-year fixed rates approach (or dip below) 6%, buyer activity is expected to jump. If you’re a buyer willing to start now—before that potential threshold—you’re likely to face less competition than the crowd that appears if/when rates break meaningfully lower.

About the Fed and mortgage rates

There’s talk of a potential Fed cut in September. Remember, mortgage rates move daily and tend to price in widely expected policy changes ahead of time. In other words, if markets expect a cut, much of that effect is usually reflected in mortgage pricing before the announcement. Day-to-day moves will still happen, but don’t expect a single policy headline to flip the switch overnight.

What this means for you

Buyers

• Shop early, not perfectly. Getting pre-approved and into homes now can mean fewer competing offers than if rates make a bigger move down.

• Compare lenders. Look at the whole picture, not just their quoted rates but also their fees. Interview a couple of lenders and then decide who will work best for you. I always recommend someone local who is accessible ie answers their phone/email.

• Keep the long view. If you find the right home, you can always refinance later if rates improve.

Sellers

• Leverage the shoulder season. Fall often brings serious buyers back into the market—especially if rates drift lower.

• Win on presentation. Fresh paint, floor refreshes, and light landscaping still deliver a strong return. Staging and great media make a measurable difference.

• Price with precision. With inventory still uneven by neighborhood and price band, a data-driven price strategy is key to maximizing interest in week one.

Local pulse

Here in Greater Seattle (King & Snohomish), for some of my listings I’m seeing more showing requests and better weekday traffic than we had a few weeks ago. If you’re considering a move this fall, now’s the time to prep: line up financing, plan improvements, and get your strategy in place.

If you want to bounce some ideas off me or just need a plan—buyer or seller—send me a message at (206) 601-8945. I’ll tailor next steps to your timeline and neighborhood.

—Chris