International Beer and Pizza Day Meets the Housing Market

Bankrate's daily survey puts the average 30-year fixed mortgage rate at 7.55%, about three-quarters of a percentage point higher than it was just 30 days ago.

That's a meaningful move, so let's talk about what it actually means.

For buyers, higher rates can be challenging, no doubt. But they can also mean fewer buyers competing for the same home. That can create more room to negotiate, more motivated sellers, and a better chance of asking for help with closing costs or a mortgage-rate buydown.

Some buyers choose to purchase when the home and the numbers work for them, then consider refinancing later if rates improve and they qualify. Just remember: a future refinance isn't guaranteed, so make sure the payment works for your budget today.

For sellers, serious buyers are still making moves. Well-priced homes can still attract attention, and when fewer new listings come to market, a quality home has more room to stand out.

People still get married, move for work, have children, retire, and make new plans. The right time to buy or sell is the time that fits your goals and your future.

Thinking about buying or selling anywhere in the United States? My national team serves all 50 states, and our clients are benefiting from our Equity Max Guarantee, averaging over $24,000 in savings.

And if you'd like to talk through what these rates mean for your plans, I'd love to help you find your spot here.