Will This Impact Your Plans to Sell?

The last time mortgage rates dipped below 6.3% was one year ago.

It didn’t last.

Within three weeks, rates were climbing.
Within five weeks, they hit 7%.

Today, we’re starting to see a familiar pattern: as soon as rates ease, buyers in Boston and the South Shore are jumping back into the market with urgency. From South Boston condos to single-family homes in Hingham and Hanover, renewed competition is starting to show up in the numbers.

What This Means for Local Buyers

Even a small change in interest rates can shift monthly payments — and overall affordability.

Take a recent Hanover sale as an example:

• On a $750,000 home with 20% down, the loan amount would be $600,000.

• At 6.3%, the monthly principal and interest payment is about $3,714.

• At 6.75%, that payment rises to about $3,892.

That’s a difference of nearly $180 per month — or over $2,000 per year — just based on timing. For buyers in competitive towns like Hanover, Norwell, and Hingham, that kind of shift can determine which homes feel affordable.

Why Sellers Should Pay Attention

If you’re a homeowner in Boston or the South Shore, these rate changes matter for you, too. When buyers sense a limited window of opportunity, activity often surges. That urgency can mean more showings, stronger offers, and fewer days on market.

With the next Fed meeting approaching, we could see another end-of-year push as buyers rush to lock in before rates rise again.

Even if selling isn’t your top priority right now, it may be worth revisiting your timeline to take advantage of today’s momentum.