KM REALTY GROUP LLC NEWS

KM Realty Group LLC at 111 N Wabash Ave, Suite 1734, Chicago, IL 60602, specializes in buying, selling, and property management. Our real estate agency in Chicago, Illinois, has been around for over two decades, and we have experienced real estate agents and brokers ready to help you buy or sell your next home. Quick Call → [phone]. Contact us online. https://kmrealtygroup.net/

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Chicago Home Buyer and Seller Dynamics Have Shifted

Right now, the housing market looks different depending on where you live.

In the Northeast and Midwest, including Chicago, Illinois, there are more buyers than sellers. That means in many markets in those regions, homes are in short supply and sellers have the upper hand.

But in the South and West, the opposite is true. There are more sellers than buyers. That gives buyers more options and more negotiating power.

However, even within a region, your local market may differ from the larger regional trend.

It’s a tale of two markets – and this story comes down to location.

If you’re unsure about what’s happening in the Chicago housing market, let’s discuss.

As a trusted Chicago realtor with KM Realty Group LLC, I can help you determine the type of market you’re in and what that means for your next move.

Contact us. KM Realty Group LLC 111 N Wabash Ave STE 1734, Chicago, IL 60602, United States [phone]

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The U.S. Foreclosure Map You Need To See — What’s Happening in Chicago?

Foreclosure headlines are making noise again — and they’re designed to stir up fear to get you to read them. But what the data shows is actually happening in the market tells a very different story from what you might be led to believe.

So, before you jump to conclusions, it’s important to look at the full picture.

Yes, foreclosure starts are up 7% in the first six months of the year. But zooming out shows that’s nowhere near crisis levels. Here’s why.

Filings Are Still Far Below Crash Levels

Even with the recent uptick, overall foreclosure filings are still very low. In the first half of 2025, just 0.13% of homes had filed for foreclosure. That’s less than 1% of homes in this country.

It’s even far less than that, at under a quarter of a percent. That’s a very small fraction of all the homes out there. But like with anything else in real estate, the numbers vary by market.

Here’s the map you need to see that shows how foreclosure rates are lower than you might think, and how they differ by local area:

For context, data from ATTOM shows that in the first half of 2025, 1 in every 758 homes nationwide had a foreclosure filing. That’s the 0.13% you can see in the map above. But in 2010, back during the crash? Mortgage News Daily says it was 1 in every 45 homes.

Today’s Numbers Don’t Indicate a Market in Trouble

But here’s what everyone remembers…

Leading up to the crash, risky lending practices left homeowners with payments they eventually couldn’t afford. That led to a situation where many homeowners were underwater on their mortgages.

When they couldn’t make their payments, they had no choice but to walk away. Foreclosures surged, and the market ultimately crashed.

Today’s housing market is very different. Lending standards are stronger. Homeowners have near-record levels of equity. And when someone hits financial trouble, that equity means many people can sell their home rather than face foreclosure.

As Rick Sharga, Founder of CJ Patrick Company, explains:

“. . . a significant factor contributing to today’s comparatively low levels of foreclosure activity is that homeowners — including those in foreclosure — possess an unprecedented amount of home equity.”

No one wants to see a homeowner struggle. However, if you’re a homeowner facing hardship, please contact your mortgage provider. You may have more options than you think.

FAQs on Foreclosure in Chicago

Q. What happens when you let a house go into foreclosure? The lender takes your home and sells it to recover the unpaid loan. You lose ownership, and your credit score drops.

Q. Do I still owe money if my house is foreclosed? Yes, if the home sells for less than you owe. The lender may ask you to pay the difference (called a deficiency).

Q. How long can you go without paying your mortgage before foreclosure in Chicago? Foreclosure can start after 120 days of missed payments. The full process may take 6–12 months.

Bottom Line

Recent headlines may not tell the whole story, but the data does. Foreclosure activity remains low by historical standards and is not a sign of another crash.

If you’re keeping an eye on the housing market and wondering how it’s affecting your home’s value, let’s connect.

With our trusted real estate team at KM Realty Group LLC in Chicago, we’ll help you separate fact from fear by clearly breaking down what the data shows.

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2025 Home Price Forecasts Graph – Chicago, Illinois

Despite what you may be hearing in the headlines, experts agree home prices are still projected to rise overall in 2025 – just at a slower pace than we’ve seen recently.

On average, forecasters say it’ll be about a 1.5–2% increase nationwide this year.

While some markets are seeing prices level off or dip slightly right now, a dramatic drop across the board isn’t expected. Prices may even be what some would argue as closer to flat by the end of this year.

But context matters, and what you should always keep in mind is, nationally, prices are up 55% compared to just 5 years ago. So, some slight declines don’t drastically change the game.

But every market is different. So, let’s talk with a local agent from KM Realty Group LLC, 111 N Wabash Ave #1734, Chicago, IL 60602.

Call [phone] to discuss home prices in Chicago and what that means for your plans.

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Mortgage Rate Forecast Quote in Chicago Illinois

Are you thinking of waiting for mortgage rates in Chicago to drop before you buy? According to the latest forecast, you could be waiting for a while.

Expert projections show the Chicago mortgage rate isn’t expected to change much anytime soon.

And after the past few years, that kind of stability is actually a good thing—it means you can finally plan with more confidence.

I’ll keep you updated as forecasts shift, especially when new economic data comes in.

Let’s talk with a local agent from KM Realty Group LLC, 111 N Wabash Ave #1734, Chicago, IL 60602.

Call [phone] to explore what’s possible for you right now.

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The Latest Mortgage Rate Forecasts – Chicago, Illinois

If you’re tempted to delay your move in the hope that mortgage rates will come down, you may want to rethink that strategy based on the latest forecast.

Experts say mortgage rates are projected to stay in the 6s this year. So don’t expect a big drop.

If you want to talk about what this means for your move, let’s connect with a local real estate agent from KM Realty Group LLC, based at 111 N Wabash Ave #1734, Chicago, IL 60602.

Call us at [phone].

As forecasts change, having an expert who can keep you updated is essential.

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The U.S. Foreclosure Map You Need To See – Chicago, Illinois

Foreclosure headlines are making noise again – and they’re designed to stir up fear to get you to read them.

Here’s some foreclosure map data that puts things into perspective.

For context, only 1 in every 758 homes had a foreclosure filing in the first half of 2025 (that’s 0.13%). But during the crash? Back in 2010, Mortgage News Daily says it was 1 in every 45. That’s a big difference.

So, don’t let the headlines scare you. I’ve got the data that can replace fear with facts.

This isn’t a sign of trouble – and we’re nowhere near crash levels, no matter what the headlines seem to say.

Let’s talk to real estate agents from KM Realty Group LLC, based at 111 N Wabash Ave #1734, Chicago, IL 60602.

Call us at [phone] or DM me your questions — ask how this impacts the value of your home.

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The Latest Mortgage Rate Forecasts for Chicago Homebuyers

Some Highlights

If you’re tempted to delay your move in hopes that mortgage rates will come down, you may want to rethink that strategy based on the latest forecast.

Experts say mortgage rates are projected to stay in the 6s this year, so don’t expect a big drop.

If you want to talk about what this means for your move, connect with a trusted Chicago realtor from KM Realty Group LLC. As forecasts change, having a local expert who can keep you updated is essential.

KM Realty Group LLC is located at 111 N Wabash Ave, #1734, Chicago, IL 60602. Call now (312) 283–0794.

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2025 Mortgage Rate Projections in Chicago, Illinois

Knowing what’s ahead for the rest of the year is key to your success, whether you’re planning to buy, sell, or just stay informed.

And that’s why you need an expert who will continue to share these market updates with you.

So, what do the latest forecasts show? Mortgage rates will likely settle in the mid-6s for the rest of 2025. And that’s not different from where we are now. So, don’t expect a big drop in rates.

However, it's crucial to monitor factors such as inflation that can impact the fluctuations in mortgage rates. And that’s why you have a pro on your side.

If your plans are changing, don’t wait for a rate that may not come.

Let’s have a conversation with experienced real estate agents in Chicago, Illinois, from KM Realty Group LLC, so you can see what’s possible in today’s market.

Have Questions? Let’s Chat KM Realty Group LLC 111 N Wabash Ave STE 1734, Chicago, IL 60602, United States [phone]

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The Latest Mortgage Rate Forecasts in Chicago

If you're tempted to wait for rates to come down before you buy a home in Chicago, here's what you should know.

Based on expert forecasts, mortgage rates are expected to stay in the 6s this year.

Let’s talk with a real estate agent in Chicago from KM Realty Group LLC about what this means for your move and how to factor this into your plans.

Have questions? We’re here to help. KM Realty Group LLC 111 N Wabash #1734, Chicago, IL 60602 [phone]

Data Sources

● https://www.fanniemae.com/media/55871/display

● https://img03.en25.com/Web/MortgageBankersAssociation/%7B76e5d77f-5cae-41d3-8cdc-ab508f86a6bc%7D_Mortgage_Finance_Forecast_June_2025.pdf

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Mistakes To Avoid When Selling Your House in Chicago, Illinois

Are you thinking about selling your house? A few simple mistakes could end up costing you big time – and most sellers don’t even realize they’re making them.

Things like pricing too high, spending money on the wrong upgrades, or refusing to negotiate can all hurt your sale. Fortunately, they’re easy to avoid when you have an expert on your side.

Let’s talk to real estate agents in Chicago from KM Realty Group LLC about how to get your house sold without leaving money on the table.

What’s one thing you’d want advice on before putting your house on the market?

Have questions? We’re here to help.

KM Realty Group LLC 111 N Wabash Ave #1734, Chicago, IL 60602 Phone: [phone]

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Don’t Make These Mistakes When Selling Your House in Chicago

Are you thinking about selling your house? Some common mistakes today can make the process more stressful or even cost you money.

Fortunately, home-selling mistakes are easy to avoid, as long as you know what to watch for. Let’s break down the biggest seller slip-ups and how an agent helps you steer clear of them.

1. Overpricing Your House

It’s completely natural to want top dollar for your house, especially if you’ve put a lot of work into it. But in today’s shifting market, pricing it too high can backfire. Investopedia explains:

“Setting a list price too high could mean your home struggles to attract buyers and stays on the market for longer.”

And your house sitting on the market for a long time could lead to price cuts that raise red flags. That’s why pricing your house right from the start matters.

A great real estate agent in Chicago will look at what other homes nearby have sold for, the condition of your house, and what’s happening in your market right now. That helps them find a price that’s more likely to attract buyers, and possibly even multiple offers.

2. Spending Money on the Wrong Upgrades

The housing market has nearly half a million more sellers than buyers, according to Redfin. That means you have more competition as a seller and may have to do a bit more to get your house ready to sell. But not all projects are going to be worth it. If you spend money on the wrong projects, it could really cut into your profit.

A local real estate pro knows what buyers in your area are looking for, and they can help you figure out which projects are worth it and which ones to skip. Even better, they’ll know how to highlight any upgrades you make in your listing, so your house stands out online and gets more attention.

3. Refusing To Negotiate

Now that inventory has grown, it’s important to stay flexible. Buyers have more options, and with it comes more negotiating power. U.S. News explains:

“If you’ve received an offer for your house that isn’t quite what you’d hoped it would be, expect to negotiate . . . make sure the buyer also feels like he or she benefits . . . consider offering to cover some of the buyer’s closing costs or agree to a credit for a minor repair the inspector found.”

That’s where your agent comes in. They’ll help you understand what buyers are asking for, what’s normal in today’s market, and how to find a win-win solution. Sometimes, making a small compromise can keep the deal moving and help you move on to your next chapter faster.

4. Skipping Research When Hiring an Agent

All of these mistakes are avoidable with the help of a skilled agent. So, you want to be sure you’re working with the right partner. Still, according to the National Association of Realtors (NAR), 81% of sellers choose the first agent they speak with.

Many homeowners may skip basic steps like reading reviews, checking sales history, and interviewing a few agents. But that’s a mistake. You want someone you know you can rely on – someone with a good track record. The right agent can help you price your house correctly, market it effectively, and sell it quickly (and possibly for a higher price).

FAQs

Q1: What’s one thing you’d want expert advice on before putting your house on the market? Answer: Pricing it correctly, understanding what upgrades matter, and learning how to negotiate smartly.

Q2: Should I use a realtor? Answer: Yes! A good realtor can save you time, money, and stress during the home-buying or selling process.

Q3: What is the Realtor’s golden rule? Answer: Treat every client the way you’d want to be treated—with honesty, respect, and care.

Bottom Line

Selling a house doesn’t have to be stressful, especially if you have an experienced Chicago Realtor by your side. Let’s connect with KM Realty Group LLC so you have an expert to help you avoid these common mistakes and make the most of your sale.

What’s one thing you’d want expert advice on before putting your house on the market?

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3 Houses for Sale in Chicago under $310,000

Looking for affordable homes in Chicago?

Here are three houses for sale in Chicago under $310,000 — each offering unique value and features for first-time buyers, families, or anyone searching for a smart investment.

15321 Winchester Avenue, Harvey, IL 60426 at $160,000.

10212 S Prairie Avenue, Chicago, IL 60628 at $160,000.

2820 W 84th Street, Chicago, IL 60652 at $310,000.

1. $160,000 – 15321 Winchester Avenue, Harvey, IL 60426

Listing by Tammy Jackson

Why Buy:

This beautifully updated single-family home is move-in ready and perfect for first-time buyers.

It offers an open-concept living space and a fenced backyard—great for families or anyone who enjoys entertaining.

Key Features:

↳ Bedrooms: 3 ↳ Bathrooms: 2 ↳ Square Footage: 1,403 sq ft (estimated)

↳ Highlights:

Modern kitchen with new appliances

Fresh paint, new flooring, and updates throughout

Fenced backyard and private driveway

Close to schools and local parks

See full details: 15321 Winchester Avenue, Harvey, IL 60426

2. $160,000 – 10212 S Prairie Avenue, Chicago, IL 60628

Listing by Megan Wilson

Why Buy:

This charming brick bungalow blends classic style with modern updates.

It’s ideal for families or investors looking for a solid home in a convenient location with room to grow.

Key Features:

↳ Bedrooms: 3 ↳ Bathrooms: 2 ↳ Square Footage: 1,936+ sq ft (estimated)

↳ Highlights:

Spacious living and dining rooms

Finished basement for extra space

Detached 2-car garage

Near public transit, shopping, and parks

See full details: 10212 S Prairie Avenue, Chicago, IL 60628

3. $310,000 – 2820 W 84th Street, Chicago, IL 60652

Listing by Danielle Holmes

Why Buy:

This updated ranch offers generous living space and sits on a quiet, tree-lined street.

It’s perfect for families wanting a turnkey home in a sought-after Chicago neighborhood.

Key Features:

↳ Bedrooms: 4 ↳ Bathrooms: 2 ↳ Square Footage: 1,500+ sq ft (estimated) Highlights:

Modern kitchen with stainless steel appliances

Full finished basement

Large backyard—ideal for gatherings or play

Close to schools, parks, and major roadways

See full details: 2820 W 84th Street, Chicago, IL 60652

Ready to Buy Your Dream Home?

Ready to see one of these homes in person or get a full list of Chicago houses for sale under $310,000?Contact us today — our real estate agents in Chicago are here to help!

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Top Black Realtors in Chicago: Find the Right Agent for You

Chicago’s real estate market is full of talented agents. Agree? Yes. Black real estate professionals are making a major impact across the city.

Whether you’re buying your first home or selling an investment property, having a realtor who understands Chicago’s diverse neighborhoods can make all the difference.

This post will highlight some of the top Black realtors in Chicago, starting with a leading name, Tammy Jackson.

You’ll also find answers to common questions about working with black real estate agents, Black-owned brokerages, and choosing the right agent for your needs.

Meet Tammy Jackson – Leading Black Realtor in Chicago

Tammy Jackson stands out as one of Chicago’s top Black realtors.

She brings over 20 years of experience and a deep commitment to client success.

As the Managing Broker and founder of KM Realty Group LLC, Tammy leads a dedicated team that manages a lot of units across the Chicagoland area.

She is known for her hands-on service and her deep housing market knowledge.

She supports first-time homebuyers, investors, and families moving within the city.

Many clients mention how Tammy makes the process easy and stress-free.

Her focus is always on listening to your goals and finding the best solution, whether you’re buying, selling, or investing.

If you want a trusted guide for your next real estate move, contact Tammy Jackson here.

More Leading Black Realtors Making a Difference in Chicago

Chicago is home to many exceptional Black real estate agents and brokers, both at large firms and independent brokerages.

Here are a few more names making a difference:

Lutalo McGee – Ani Real Estate

Lutalo McGee is the owner and designated managing broker of Ani Real Estate on Chicago’s South Side.

He’s a consistent top producer and the current President-Elect of the Chicago Association of REALTORS®.

Lutalo is recognized for his community involvement, mentoring new agents, and advocating for diversity in real estate.

La’Dweena Smith – Keller Williams ONEChicago

La’Dweena Smith is CEO of Keller Williams ONEChicago.

She leads a diverse team of more than 400 agents and recently helped open a new Keller Williams office on the South Side.

La’Dweena is also active in social equity initiatives, helping both her team and her clients build wealth.

Nate Thompson - Chicago Agents’ Choice Awards 2020

Nate Thompson is a senior vice president and a former Managing Broker of the Year (Chicago Agents’ Choice Awards 2020).

He is known for his people-first approach, coaching new agents, and growing successful real estate teams.

Nate focuses on client education and a smooth transaction for every buyer and seller.

Rashauna Scott – Flippin’ In Heels & KW ONEChicago

Rashauna Scott is a rising star in Chicago real estate, a two-time “Top Producer,” and the founder of Flippin’ In Heels.

Her focus is on helping women—especially women of color—build wealth through property investment and renovation.

Rashauna is known for her energetic approach and her dedication to empowering others.

Sarah Ware – Ware Realty Group

Sarah Ware is the principal and managing broker at Ware Realty Group, a minority- and woman-owned firm.

She has more than 20 years of experience and specializes in both residential and commercial real estate, especially on the South Side and in the south suburbs.

Sarah served as the first Black woman President of the Chicago Association of REALTORS® and is respected for her leadership and focus on fair housing.

Black real estate agents in Chicago bring deep community connections, strong local expertise, and a commitment to fair housing.

They are leaders in both residential and commercial markets, and many also focus on supporting first-time buyers and families in historically underserved neighborhoods.

Choosing a Black realtor can mean working with someone who shares your values or understands your unique needs.

Many Black-owned brokerages in Chicago focus on community empowerment, education, and building generational wealth through homeownership.

FAQs from Real Estate Buyers & Sellers and Answers from Top Black Realtors

How do I choose a Black realtor in Chicago?

Start by looking for experience, client reviews, and local knowledge. Schedule an initial consultation to discuss your needs and make sure you feel comfortable communicating. Ask about their experience in your neighborhood or with your type of transaction.

Are there Black-owned real estate brokerages in Chicago?

Yes. Firms like KM Realty Group LLC, Ani Real Estate, and Ware Realty Group are all Black-owned and serve a variety of communities in Chicago. Many agents at larger companies are also leaders in Black homeownership initiatives.

What neighborhoods do Black realtors specialize in?

Black real estate professionals work all across Chicago and its suburbs.

Many specialize in South Side neighborhoods (like Bronzeville, Hyde Park, Chatham, and South Shore), West Side communities (Austin, Lawndale), and even downtown and North Side markets.

Always ask an agent about their local experience.

Ready to Connect with a Top Black Realtor in Chicago?

Your home journey matters. The right agent can make your real estate experience smooth, positive, and even fun.

If you’re ready to buy, sell, or invest in Chicago, start with a conversation with Tammy Jackson. She’s a leader, a listener, and a trusted expert for clients at every stage.

Contact Tammy Jackson today or use our general contact form to get started. Your Chicago dream home or next investment is within reach—let a top Black real estate agent guide you.

Sources

Tammy Jackson – KM Realty Group LLC

Ani Real Estate

Keller Williams ONEChicago

Ware Realty Group

Chicago Association of REALTORS® – Member Awards

N’DIGO: Black Realtors on the Move

Flippin’ In Heels – Rashauna Scott

Note*

If you find any incorrect information, have any concerns, or see something that needs correction, reach out at [email protected] or [email protected]. Call us directly at [phone]. Thank you!

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Chicago Mortgage Rates Drop for New-Home Buyers – See the Data

A lot of homebuyers are missing a big opportunity in today’s housing market: newly built homes. Right now, there are more new homes to choose from. And as a result, some builders may be more willing to negotiate on price. Many are even offering better mortgage rates, too, via something called mortgage rate buy-downs. In Chicago, this could mean securing a Lower Mortgage Rate than you’d find with an existing home. This graph shows that buyers of newly built homes got a mortgage rate around half a percent lower compared to those who bought existing homes. That means you could find a great home with a lower mortgage rate, and that might make your monthly payment more manageable than you expected. If you haven’t considered a newly built home yet, what’s holding you back?

Let’s talk and see if checking out new construction could be the right move for you. KM Realty Group LLC 111 N Wabash Ave #1734, Chicago, IL 60602 Phone: [phone]

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The Advice First-Time Homebuyers in Chicago Need To Hear

Buying your first home is a significant milestone, especially in today’s market (avoid these common myths). With so many steps in the home buying process, it’s easy to feel overwhelmed.

The right support, especially from a real estate agent experienced with first-time homebuyers in Chicago, can make the journey less stressful and a lot more rewarding.

While this may be new to you, experienced agents have helped many first-time buyers and understand the common concerns, such as affordability, down payment worries, and the fear of making mistakes.

Here are some real-world tips based on helping others through the Chicago first home journey.

Tip #1: Get Pre-Approved First

Getting pre-approved for your home loan is the first step every first-time homebuyer should take. As Rocket Mortgage points out, it’s a common mistake to browse homes before knowing your budget, especially in the Chicago real estate market.

Avoid the frustration of falling in love with homes outside your reach by talking to a lender and an agent early. Pre-approval will give you a realistic sense of what you can afford, so you can focus your home search on properties that truly fit your budget.

Tip #2: Set a Budget and Stick To It

Just because a lender says you can borrow a certain amount doesn’t mean you should spend it all, especially as a first-time buyer in Chicago.

With additional costs like home insurance, property taxes, and homeowners association (HOA) fees (if you’re considering a condo or townhouse), the budget for your home purchase should account for more than just the sales price.

Ask your agent about down payment assistance programs and ways to make homeownership more affordable.

Bankrate offers this advice:

“When you’re building a budget to narrow your search for properties, don’t just think about how much house you can afford, but how much in recurring costs you can handle once you’ve purchased your home.”

Tip #3: Don’t Skip the Inspection

When you find the right home, it’s easy to get caught up in the excitement. But skipping the inspection just to make your offer look stronger is a gamble that could cost you.

Instead, work with your agent to schedule a real inspection. They’ll connect you with local pros, make sure it’s booked, and help you understand the results so you can negotiate repairs or ask for money off at closing, if needed.

It’s better to invest in this time up front to avoid what could be thousands in surprise repairs later.

Here’s why inspections and appraisals matter.

Tip #4: Your First Home Doesn’t Have To Be Your Forever Home

Remember, your starter home doesn’t have to be your forever home.

Many first-time buyers in Chicago start with a condo, townhouse, or smaller single-family home, then move up as their needs and equity grow.

The goal is to start building equity and gain experience with homeownership—you can always upgrade later. When that time comes, check out these tips to prep for your home sale. An agent will help you explore all your options, including ones you may not have thought about. For example, a well-kept condo, a townhouse in a great location, or a house with good bones can be a perfect first step into homeownership.

The goal? Get in. Start building equity. Then, grow from there.

For more, read The Truths Young Homebuyers Need to Hear.

Ready to Start Your Homebuying Journey?

Buying your first place is a big step, but it doesn’t have to feel like a step in the dark. Let’s talk about where you’re starting, what’s stressing you out (or holding you back), and what you need to know to make it happen.

Have questions about affordability, down payment assistance, or how to get started? Reach out to our realtors for guidance tailored to first-time buyers.

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Chicago Mortgage Rates Have Shown Less Volatility

After years of rapidly changing mortgage rates, we’re finally seeing something refreshing: a bit more predictability.

Mortgage rates have shown signs of stabilizing in recent months, and that’s a big win for homebuyers. It makes it much easier to plan your budget and your next move.

Want to talk through what buying could look like in today’s housing market?

Let’s talk it over with trusted real estate agents from KM Realty Group LLC, located at 111 N Wabash #1734, Chicago, IL 60602. Call us today at [phone] — we’re here to help you make the right move.

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Mortgage Rates Are Stabilizing: How That Helps Today’s Home Buyers in Chicago, Illinois

Over the past few years, affordability has been the biggest challenge for homebuyers. Between rapidly rising home prices and higher mortgage rates, many have felt stuck between a rock and a hard place.

Something encouraging is happening. While affordability is still tight, mortgage rates have shown signs of stabilizing in recent months. And that may finally make it a bit easier to plan your move.

Mortgage Rates Have Stabilized – For Now

Over the past year, mortgage rates have had their share of ups and downs, making it tough for buyers to know what to expect. But recently, rates have started to level out and have settled into a more narrow range (see graph below):

“Analysts, economists, and mortgage professionals are coining this quarter’s activity as one of the most 'calm' periods for mortgage rates in recent memory.”

How This Helps Today’s Buyers

Let’s be real. Unpredictability makes it tough to plan. When rates are bouncing around and making big jumps week to week, it’s easy to be intimidated. But with rates staying in a pretty steady range over the past several months, you have a clearer picture of what your potential monthly payment could look like. That makes moving feel less uncertain and more doable.

So, stop waiting. And start planning. Even though rates may not be where you want them to be right now, they have been much less volatile for quite some time.

Will This Stability Last?

According to the experts, it looks like stability might hang around for a bit. Rates may come down ever so slightly in the months ahead, but it’ll likely be a slow and mild change. As Danielle Hale, Chief Economist at Realtor.com, says:

“I expect a generally downward trend for rates this year, but at a slow enough pace that it might not be noticeable in any given month.”

So, if you’ve been holding out for the perfect mortgage rate, the best advice is to avoid trying to time the market. It may not look different than the opportunity you already have in front of you. As Jeff Ostrowski, Housing Market Analyst at Bankrate, explains:

“Trying to time mortgage rates is difficult. There’s no guarantee that rates are going to be any more favorable in three months or six months.”

And if we look at the latest expert forecasts that go out a bit further, even those tell much of the same story. Two out of the three projections say rates will still likely be in the mid-6% range by the end of 2026 (see graph below):

“Mortgage rates have moved within a narrow range for the past few months . . . Rate stability, improving inventory, and slower house price growth are an encouraging combination . . .”

Just remember, mortgage rates are still going to react to changing economic conditions, inflation, and more – and that means they could shift again. But right now, you’ve got more predictability, and that means more opportunity, too.

Bottom Line

While affordability is still a challenge, the market may be offering a bit more stability, and that makes planning your next move a lot easier.

If you want to run the numbers and see what a monthly payment would look like in today’s market, let’s connect with a trusted real estate agency in Chicago, like KM Realty Group LLC. That way, you can stop waiting and start planning.