A neighbor sent me a TikTok that said, “When your Starter Home becomes your Forever Home because you’re not leaving that 2.5% interest rate,” and ain’t that the truth, Ruth?

Currently rates are clocking in around 7.25% for a 30-year fixed loan. (I’m not a lender. I can’t give you a quote, but if I were leaning out a window at 227, that’s what I *might* have heard.)

Most Buyers are banking on refinancing in the future. But what are they doing in the present? Three things…

1. Shoppin’ and droppin’. By getting quotes from several lenders, Buyers can sleep tight knowing they have the best rate possible.

• Paying points. Buyers can buy down their own interest rate by paying points. (1 point or 1% is approximately $8,000 right now. Again, not a lender.) If you buy down your own rate, it stays that way for the life of the loan.

• 2-1 Buydown. This is where the Sellers pay to buy down the Buyers’ interest rate. For the first year of the loan, the interest rate is 2% lower. The second year is 1% lower and the third year, the regular rate comes into play.

On the 2-1 Buydown in particular, the hope is rates will decrease within the next two years and Buyers will be able to refinance and lock in a lower rate long-term.

Is that even possible? According to US News & World Report, yes-ish. It depends on how low you’re looking to go. If you’re holding out for rates to dip below 5%, that’s not expected to happen until 2025. But it is expected to happen so let’s all just hug and high five and end this one on a high note.

Official snapshot above. Nikki’s Nonstop Commentary below.

Yes, the market has slowed, but it’s not slooow. It’s just slower than the Nutso Billy that it was. For Sellers – Your home will still sell, it just might take more than a literal minute. But then again, it might not. Right price, killer location, stunner house? It’s gone. Multiple offers still exist, too, but Buyers seem to have regained their grip on reality. For Buyers, your odds of landing your dream home are up and yes, interest rates are, too, BUT 2-1 Rate Buydowns are a real thing. And they really help.

Lake Lot | 1510 Shoreline Drive, Cedar Creek Lake | $182,500

The thing about life at the lake is it’s effortless and easy. Stunning sunsets and walks to the shore. Time slows down when you’re surrounded by nature and it’s almost impossible not to temper your pace. This is the lot where dreams are built. Where friends and family will gather on the weekend for a casual cookout and a day of casting rods in the hopes of bringing home the big one. At night, everyone will gather around the campfire, and you’ll have that special moment when you realize this is what you’ve been searching for your whole life. With an additional ten feet of waterfront, unobstructed views of the bird sanctuary, a level lot and a gentle slope to the shoreline, Lot 20 is one of the most exceptional in the neighborhood. A neighborhood that’s gated, ONE HOUR FROM DALLAS, sought-after and offers every amenity you can imagine – an infinity pool, a club house with soaring cedar-lined ceilings and a boat launch with pier.