Good news for both sellers and buyers: mortgage rates are finally trending downward—and it’s already making a difference.
The Mortgage Bankers Association (MBA) reports that mortgage applications jumped 23% compared to the first week of September last year. That’s a clear sign that buyers are jumping back in as affordability improves. For homeowners in Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, and Bonney Lake, this shift could be the opportunity you’ve been waiting for.
Why Rates Are Dropping
The average 30-year fixed mortgage rate recently slipped to 6.13%—the lowest since October 2024. This drop followed weaker job reports and other economic signals pointing toward potential Federal Reserve rate cuts later this year.
Because buyers today are extremely rate-sensitive, even a small decline makes a big difference in affordability. When affordability improves, demand quickly follows—and we’re seeing that play out right now.
Why This Matters If You’re Selling
If your listing expired earlier this year, or you’ve been holding off because the market felt too slow, this is your moment. Buyer demand is the strongest it’s been since July, and acting before more sellers join the market could give you a real edge.
Think of it this way: yes, more buyers may appear if rates keep dropping, but so will more competition from other sellers. Listing now allows you to stand out while activity is climbing.
The Bottom Line
The market isn’t seeing the frenzied surge we had a few years ago, but it is showing signs of fresh momentum. Positioning your home correctly during this window could make all the difference.
A trusted local agent can help you determine your home’s value, refine your pricing strategy, and connect you with serious buyers who are ready to move today. If you’re considering making a move in the Puget Sound area, explore my real estate services for expert guidance tailored to your goals.
