This Week in Rates
Rates jumped mid-week last week before pulling back slightly to close out Friday.
The culprit was geopolitical. Deteriorating prospects for an Iran peace deal pushed bond yields higher Tuesday and Wednesday. By end of week, signals of progress brought modest relief. Oil prices and mortgage rates have been moving together throughout this conflict, and that is not changing anytime soon.
The Fed met last week with no changes. This week brings the delayed jobs report and more economic data, making it a more active week to watch.
Current Mortgage Snapshot
30-Year Fixed: 6.44% ▲ 0.12
15-Year Fixed: 6.01% ▲ 0.10
Rates reflect national averages sourced from MBS Live and are for informational purposes only. Actual rates vary based on borrower profile, loan structure, and market timing.
"We're Just Going to Wait for Rates to Drop"
Every agent has heard it. A buyer gets pre-approved, stays engaged, then goes quiet, choosing to wait before moving forward.
The wait feels safe. It isn't always neutral.
Here are a few dynamics worth keeping in mind:
Rate changes affect monthly payments, but home prices and inventory don't pause in the meantime
When market conditions improve, sidelined buyers tend to re-enter at the same time, increasing competition
The home available today may not be available at the same price later
How to Navigate It
Don't push back. Build clarity around the full picture.
Walk through what different rate scenarios actually do to a monthly payment on a realistic purchase price
Put that monthly savings next to what a price increase on the same home could cost over time
Explore whether seller concessions or a temporary buydown could close the gap today
Quick Tip for Agents
Before a buyer decides to wait, ask this:
"If the right home came up and the payment worked, would you still want to wait, or would you move forward?"
That question moves the conversation from predicting the market to focusing on what actually matters to the buyer.
Agent Spotlight 🔦 – Western New York
Each week the Buffalo Mortgage Market Brief highlights a real estate professional active in the Western New York housing market as part of a broader look at the local real estate landscape.
Brandy Hardy— (WNY Metro Roberts Realty)
This week’s WNY Agent Spotlight features Brandy Hardy with Metro Roberts Realty.
Brandy has been a licensed real estate agent since 2019, serving clients throughout Western New York.
She works with a range of clients, including first-time homebuyers, repeat buyers and sellers, and investors. While primarily focused on residential real estate, she also has experience assisting with commercial transactions.
Her approach includes maintaining consistent communication and working with clients through different stages of the buying and selling process.
Troy Pulli