If you’ve been waiting for mortgage rates to finally move, the wait is over. Last week brought a big shift that has buyers and sellers across the Puget Sound—from Tacoma to Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, and Bonney Lake—paying close attention.
On Friday, September 5th, the average 30-year fixed mortgage rate fell to its lowest level since October 2024. It marked the biggest one-day drop in over a year, and it’s creating new opportunities for today’s market.
What Sparked the Drop?
According to Mortgage News Daily, weaker-than-expected job reports for a second month in a row sent a clear signal through financial markets. As uncertainty about the economy eased, mortgage rates responded by dropping. Historically, when the economy shows signs of slowing, rates tend to follow this downward trend.
Why Buyers Should Pay Attention
This isn’t just about one headline—it’s about what the shift means for you. Compared to just a few months ago, buyers could now save nearly $200 per month on a mortgage payment. That adds up to almost $2,400 a year, making homeownership more affordable than it’s been in months.
For sellers in areas like Tacoma, Puyallup, and Bonney Lake, this creates a new window of opportunity. As lower rates pull more buyers back into the market, well-priced homes in communities across South King and Pierce County could see renewed demand.
How Long Will It Last?
No one can predict exactly where rates will go next. They could dip further or climb slightly depending on inflation, job reports, and Federal Reserve policy. What’s important is staying connected with a trusted real estate agent and lender who can help you time your move wisely.
The Bottom Line
Rates breaking out of their months-long rut is a positive sign for both buyers and sellers. If you’ve been waiting for the right moment to act—whether that’s buying your first home in Auburn or upgrading to a larger space near Lake Tapps—this shift could open the door.
To explore your options in the current market and see what’s possible, connect with me today through local real estate guidance.
