Bargain Hunting With Rates Above 7% | When Experience and Results Matter

Mortgage rates stayed above 7% as markets braced for more Fed moves, while Treasury yields pushed borrowing costs higher and kept affordability top of mind.
For buyers planning ahead, a study suggested building rate cushions: half-point within 3 mo, three-quarters by 6 mo, and a full point by 1 yr.
Later-year buyers often gained leverage: typical homes were ~5% cheaper in Early-Q4 than Late-Q2, with fewer competing buyers and more time to negotiate.
With a ~5-mo supply in the prior month, buyers had stronger bargaining power on price, closing costs, discount points, or temporary rate buydowns.
For buyers still waiting, markets recently priced in more Fed tightening, but the longer-term goal remained cooler inflation that could eventually ease mortgage costs.