09/22/2026
🏠 **BUYERS: DON’T LET THE INTEREST RATE BE THE ONLY NUMBER YOU LOOK AT.**
Let's be honest.
Mortgage rates around **6.875%–7.125%** aren't what buyers were hoping for.
But here's what has changed:
**The market has shifted in your favor.**
There are more homes competing for buyers, and sellers are having to compete for the buyers who are actually in the market.
That creates something incredibly valuable:
**NEGOTIATING POWER.**
We're seeing opportunities for buyers to negotiate:
💰 **Price reductions**
💰 **Seller-paid closing costs**
💰 **Rate buydowns**
💰 **Repair credits**
💰 **Inspection concessions**
💰 **Better contract terms**
And there's another opportunity buyers should know about:
**ASSUMABLE MORTGAGES.**
Some existing mortgages can be **assumed by a qualified buyer**, meaning you may be able to take over the seller's existing loan and potentially inherit the interest rate they locked in years ago.
Depending on the loan and when it originated, that rate could potentially be **2.25%, 3%, 3.5%, 4%**, or somewhere in that range.
Think about that for a second.
Instead of automatically financing the entire purchase at today's **6.875%–7.125%**, you may be able to find a home where a portion of the existing mortgage is assumable at a dramatically lower rate.
**But there is a catch.**
Not every loan is assumable. FHA, VA and USDA loans generally have specific assumption provisions, while conventional loans typically aren't freely assumable. The buyer must qualify, and because the seller may have substantial equity, you'll also need a plan for covering the difference between the existing loan balance and the purchase price.
**That's why this needs to be evaluated on a case-by-case basis.**
Now add that to today's negotiating environment.
A buyer could potentially find:
**A motivated seller + an assumable low-rate mortgage + seller concessions + a negotiated purchase price.**
That's a very different conversation than simply looking at today's mortgage rate and deciding to sit on the sidelines.
And remember:
If rates eventually come down, **you may be able to refinance.**
But you can't refinance the purchase price you paid.
You can't go back five years later and say:
*"I'd like that $30,000 concession I didn't negotiate."*
That opportunity is gone.
So I don't think the right question for buyers right now is:
**"Are interest rates too high?"**
The better question is:
**"What can I negotiate because rates are high?"**
Look at the **entire deal.**
Price.
Rate.
Concessions.
Assumability.
Taxes.
Insurance.
Repairs.
Monthly payment.
And your expected time in the home.
**Don't buy the rate. Don't buy the house based on the sticker price. Buy the entire deal.**
The market may not have the lowest rates we've ever seen, but for a prepared buyer who knows where to look and knows how to negotiate, **there is opportunity right now.**
**Kelly Strickland**
Central Florida Real Estate | Market Strategy | Buyer & Seller Representation
