If you’ve been thinking about buying, selling or renting out a home in the Whitman area, you’ve probably been keeping an eye on mortgage rates. And lately, the news hasn’t been what anyone has been hoping for. Landlords have fewer people interested in seeing their units, since many prospective tenants and buyers have been just hunkering down and waiting the volatility(Retail prices, higher rents, etc.) out, if they can. Buyer’s are getting priced out of the market due to the interest rate hikes, so soon there might be a wash of new people in the potential tenant pool. Hang on Landlords. Those buyers that can continue to house hunt with a pre-approval letter are enjoying a glut of houses to choose from. Sellers now have to compete a bit more to keep buyers interested in their listings, but things are still moving pretty fast. The balance hasn’t shifted to a buyer’s market completely yet.
According to a recent Investopedia report, mortgage rates have climbed to their highest level since May 2025, putting more pressure on home affordability. Existing-home sales have also declined overall, while new listings have skyrocketed as mentioned above.
So what does this mean here in Whitman?
For Buyers:
Higher mortgage rates mean a higher monthly payment. A home that fit comfortably into your budget a few months ago may look a little different today.
That doesn’t mean you should give up on buying. It means knowing your numbers before you start shopping is more important than ever. If you can, try to hold on and once interest rates fall, refinance for a deal. Don’t let your dream home escape.
For Sellers:
Some homeowners are hesitant to sell because they have a mortgage rate much lower than today’s rates. That can keep inventory tight. IT’s not happening right now, but the current trend of increased listings can change in a heartbeat.
But if you’re considering selling, your home’s value is still determined by what’s happening in the local market—not just the national headlines. So money can be made on the sale of your home, with it’s increased value now.
For Landlords:
If you’re thinking about holding onto a property as a rental instead of selling, rising borrowing costs are another reason to review your rental income, expenses, and long-term plans.
The bottom line?
The real estate market isn’t the same in every town. National mortgage rates matter, but what happens with homes in the Whitman area is what really matters to you.
If you’re curious about what the current market means for your property, let’s talk.
Thinking about buying, selling, or renting your apartment in Whitman? I’d be happy to help you look at the local picture.
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Have Fun!
Lew McConkey, Realtor/Notary
Brook Realty, Serving Whitman Hanson & Surrounding Towns
If you have questions about your place in the current Real Estate market, as a buyer, seller or Landlord,
Please feel free to call text or email for your free, no obligation consultation.
