Do you want to sell your home, but hesitate because you’re worried you won’t be able to find your next home in today’s market? You're not alone.

If you’re thinking about selling your home right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place.



It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home. Many homeowners who locked in a 30-year fixed rate under 3% most likely don't want to give that up for a rate that sits somewhere between 6-7% today.

Many of today’s homeowners bought or refinanced their homes before or during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak and are still lower than industry highs we've realized in the past, they are still higher than they were a couple of years ago.