{"id":82689,"date":"2025-10-23T05:00:57","date_gmt":"2025-10-23T12:00:57","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=82689"},"modified":"2025-10-22T10:27:50","modified_gmt":"2025-10-22T17:27:50","slug":"housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/","title":{"rendered":"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping.\u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">The daily average mortgage rate dropped to <\/span><a href=\"https:\/\/www.mortgagenewsdaily.com\/mortgage-rates\/30-year-fixed\"><span style=\"font-weight: 400;\">6.17%<\/span><\/a><span style=\"font-weight: 400;\"> this week, near the lowest level in three years. Lower mortgage rates are curbing growth in monthly mortgage payments; the typical U.S. monthly payment is $2,556, up 0.6% year over year, the smallest increase in three months.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A homebuyer on a $3,000 budget can afford a $473,750 home at today\u2019s mortgage rate, compared to the $447,750 home they could have bought one year ago, when rates were around 6.85%. Compared to one <\/span><i><span style=\"font-weight: 400;\">month<\/span><\/i><span style=\"font-weight: 400;\"> ago, buyers have gained $9,500 in purchasing power; they could have bought a $464,250 home with rates sitting near 6.4%.\u00a0<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-FEIwf\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"How much home can you buy on a variety of fixed monthly payments as mortgage rates change?\" src=\"\/\/datawrapper.dwcdn.net\/FEIwf\/6\/\" height=\"600\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"])for(var e in a.data[\"datawrapper-height\"]){var t=document.getElementById(\"datawrapper-chart-\"+e)||document.querySelector(\"iframe[src*='\"+e+\"']\");t&&(t.style.height=a.data[\"datawrapper-height\"][e]+\"px\")}})}();\n<\/script><\/p>\n<h2>Despite more purchasing power, would-be buyers remain on the sidelines<\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Pending U.S. home sales fell 0.7% year over year during the four weeks ending October 19, the third straight week of declines.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a few reasons buyers are wary. One, the forces pushing mortgage rates down\u2013economic uncertainty and<\/span><a href=\"https:\/\/www.redfin.com\/news\/weekly-economics-update-october-20\/\"><span style=\"font-weight: 400;\"> political tensions<\/span><\/a><span style=\"font-weight: 400;\">\u2013are also making some house hunters feel uneasy about making a major purchase. Buyers are also facing stubbornly high prices, with the median home-sale price up 2% year over year, the biggest increase in six months.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The selling side is holding up better. New listings rose 4.6%, the biggest increase in nearly five months, as sellers hope buyers pounce on lower rates. Nationwide, there are half a million <\/span><a href=\"https:\/\/www.redfin.com\/news\/buyers-vs-sellers-september-2025\/\"><span style=\"font-weight: 400;\">more home sellers<\/span><\/a><span style=\"font-weight: 400;\"> than buyers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The big gap between home sellers and buyers, along with the improvement in purchasing power, make it a good time for buyers who can afford today\u2019s high housing costs to jump into the market. Redfin agents in many parts of the country report that it feels like a buyer\u2019s market, with sellers open to lowering the sale price and providing concessions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBuyers are scoring deals, especially those who can pay <\/span><a href=\"https:\/\/www.redfin.com\/news\/all-cash-down-payments-2025\/\"><span style=\"font-weight: 400;\">all cash<\/span><\/a><span style=\"font-weight: 400;\"> and\/or those who are open to new construction,\u201d said <a href=\"https:\/\/www.redfin.com\/real-estate-agents\/amanda-peterson\">Amanda Peterson<\/a>, a Redfin Premier agent in <a href=\"https:\/\/www.redfin.com\/city\/30794\/TX\/Dallas\">Dallas<\/a>. \u201cOne recent all-cash buyer paid $500,000 for a condo that was appraised at $685,000\u2013and the seller agreed to pay upfront for six months of pricey HOA dues. And builders are offering steep discounts on new homes, especially in areas where they already have a lot of inventory and are still actively building. Builders are dropping prices, giving up to $20,000 in concessions, throwing in appliances, and buying down mortgage rates, sometimes to below 4%.\u201d<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">For Redfin economists\u2019 takes on the housing market, please visit Redfin\u2019s \u201c<\/span><\/i><a href=\"https:\/\/www.redfin.com\/news\/from-our-economists\/\"><i><span style=\"font-weight: 400;\">From Our Economists<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">\u201d page.<\/span><\/i><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2>Leading indicators<\/h2>\n<p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"5\"><b>Indicators of homebuying demand and activity<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Value (if applicable)<\/b><\/td>\n<td><b>Recent change<\/b><\/td>\n<td><b>Year-over-year change<\/b><\/td>\n<td><b>Source<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Daily average 30-year fixed mortgage rate<\/b><\/td>\n<td><span style=\"font-weight: 400;\">6.17% (Oct. 22)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Near 3-year now<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down from 6.82%<\/span><\/td>\n<td><a href=\"https:\/\/www.mortgagenewsdaily.com\/mortgage-rates\/30-year-fixed\"><span style=\"font-weight: 400;\">Mortgage News Daily\u00a0<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td><b>Weekly average 30-year fixed mortgage rate<\/b><\/td>\n<td><span style=\"font-weight: 400;\">6.27% (week ending Oct. 16)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Near lowest level in a year<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down from 6.44%<\/span><\/td>\n<td><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span style=\"font-weight: 400;\">Freddie Mac<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td><b>Mortgage-purchase applications (seasonally adjusted)<\/b><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Down 5% from a week earlier (as of week ending Oct. 17)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Up 20%<\/span><\/td>\n<td><a href=\"https:\/\/www.mba.org\/news-and-research\/newsroom\/news\/2025\/10\/22\/mortgage-applications-decreased-in-latest-mba-weekly-survey\"><span style=\"font-weight: 400;\">Mortgage Bankers Association<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Redfin Homebuyer Demand Index<\/b><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Up about 2% from a month earlier (as of week ending Oct. 19)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down 12%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">A measure of tours and other homebuying services from Redfin agents<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Google searches of \u201chomes for sale\u201d<\/b><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Unchanged from a month earlier (as of Oct. 19)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Up 20%<\/span><\/td>\n<td><a href=\"https:\/\/trends.google.com\/trends\/explore?date=today%205-y&amp;geo=US&amp;q=homes%20for%20sale#cmpt=q\"><span style=\"font-weight: 400;\">Google Trends<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td><b>Touring activity<\/b><\/td>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Up 12% from the start of the year (as of Oct. 19)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">At this time last year, it was up 2% from the start of 2024<\/span><\/td>\n<td><a href=\"https:\/\/showingtimeplus.com\/daily-showing-activity\"><span style=\"font-weight: 400;\">ShowingTime<\/span><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Key housing-market data<\/h2>\n<p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"4\"><b>U.S. highlights: Four weeks ending Oct. 19, 2025<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">Redfin\u2019s national metrics include data from 400+ U.S. metro areas and are based on homes listed and\/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision.\u00a0<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Four weeks ending Oct. 19, 2025<\/b><\/td>\n<td><b>Year-over-year change<\/b><\/td>\n<td><b>Notes<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>Median sale price<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$391,250<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Biggest increase in 6 months<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Median asking price<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$399,675<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Biggest increase in 5 months<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Median monthly mortgage payment<\/b><\/td>\n<td><span style=\"font-weight: 400;\">$2,556 at a 6.27% mortgage rate<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Nearly $300 below May\u2019s record high\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Pending sales<\/b><\/td>\n<td><span style=\"font-weight: 400;\">77,167<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Biggest decline in 4 months<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>New listings<\/b><\/td>\n<td><span style=\"font-weight: 400;\">88,195<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Biggest increase in nearly 5 months<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Active listings<\/b><\/td>\n<td><span style=\"font-weight: 400;\">1,206,191<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Smallest increase since Feb. 2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Months of supply\u00a0<\/b><\/td>\n<td><span style=\"font-weight: 400;\">4.6<\/span><\/td>\n<td><span style=\"font-weight: 400;\">+0.4 pts.\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4 to 5 <\/span><a href=\"https:\/\/www.redfin.com\/definition\/monthsof-supply\"><span style=\"font-weight: 400;\">months of supply<\/span><\/a><span style=\"font-weight: 400;\"> is considered balanced, with a lower number indicating seller\u2019s market conditions\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Share of homes off market in two weeks\u00a0<\/b><\/td>\n<td><span style=\"font-weight: 400;\">30.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down from 32%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Median days on market<\/b><\/td>\n<td><span style=\"font-weight: 400;\">48<\/span><\/td>\n<td><span style=\"font-weight: 400;\">+6 days<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Share of homes sold above list price<\/b><\/td>\n<td><span style=\"font-weight: 400;\">23%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down from 26%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><b>Average sale-to-list price ratio\u00a0<\/b><\/td>\n<td><span style=\"font-weight: 400;\">98.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Down from 98.7%<\/span><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<table>\n<thead>\n<tr>\n<th colspan=\"4\">\n<p style=\"text-align: left;\"><b>Metro-level highlights: Four weeks ending Oct. 19, 2025<\/b><\/p>\n<p style=\"text-align: left;\"><i><span style=\"font-weight: 400;\">Redfin\u2019s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.\u00a0<\/span><\/i><\/p>\n<\/th>\n<\/tr>\n<tr>\n<th><\/th>\n<th><b>Metros with biggest year-over-year increases<\/b><\/th>\n<th><b>Metros with biggest year-over-year decreases<\/b><\/th>\n<th><b>Notes<\/b><\/th>\n<\/tr>\n<tr>\n<th style=\"text-align: left;\"><b>Median sale price<\/b><\/th>\n<th style=\"text-align: left;\"><span style=\"font-weight: 400;\">Cleveland (12%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Detroit (8.3%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Newark, NJ (7.7%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">San Francisco (6.7%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Providence, RI (6%)<\/span><\/th>\n<th style=\"text-align: left;\"><span style=\"font-weight: 400;\">Dallas (-5.4%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Jacksonville, FL (-3.7%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fort Lauderdale, FL (-1.9%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Miami (-1.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Denver (-1.7%)<\/span><\/th>\n<th>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Declined in 12 metros<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><b>Pending sales<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Tampa, FL (32.9%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">West Palm Beach, FL (18.5%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">San Francisco (12.9%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pittsburgh (10.5%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fort Lauderdale, FL (8.8%)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Seattle (-17.3%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">San Antonio (-17%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Denver (-13.5%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Minneapolis (-8.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">New York (-8.7%)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Pending sales rose significantly in coastal Florida largely because <\/span><a href=\"https:\/\/www.tampabay.com\/hurricane\/2025\/10\/13\/hurricane-helene-milton-substanital-damage-pinellas-home\/\"><span style=\"font-weight: 400;\">two major hurricanes<\/span><\/a><span style=\"font-weight: 400;\"> stalled the state\u2019s housing market at this time last year<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>New listings<\/b><\/td>\n<td><span style=\"font-weight: 400;\">Tampa, FL (34.6%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Providence, RI (11.2%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">West Palm Beach, FL (11.1%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pittsburgh (10.2%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Phoenix (9.6%)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Denver (-12.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">San Francisco (-9.4%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Anaheim, CA (-7.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">San Jose, CA (-7.8%)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">San Diego (-7.2%)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">New listings rose significantly in coastal Florida largely because <\/span><a href=\"https:\/\/www.tampabay.com\/hurricane\/2025\/10\/13\/hurricane-helene-milton-substanital-damage-pinellas-home\/\"><span style=\"font-weight: 400;\">two major hurricanes<\/span><\/a><span style=\"font-weight: 400;\"> stalled the state\u2019s housing market at this time last year<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Refer to our<\/span> <a href=\"https:\/\/www.redfin.com\/news\/data-center-metrics-definitions\/\"><span style=\"font-weight: 400;\">metrics definition page<\/span><\/a><span style=\"font-weight: 400;\"> for explanations of all the metrics used in this report.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-82690 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sale-price-1022.png\" alt=\"\" width=\"899\" height=\"668\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sale-price-1022.png 899w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sale-price-1022-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sale-price-1022-768x571.png 768w\" sizes=\"(max-width: 899px) 100vw, 899px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-82691 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/asking-price-1022.png\" alt=\"\" width=\"899\" height=\"678\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/asking-price-1022.png 899w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/asking-price-1022-300x226.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/asking-price-1022-768x579.png 768w\" sizes=\"(max-width: 899px) 100vw, 899px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-82692 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/housing-payments-1022.png\" alt=\"\" width=\"901\" height=\"667\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/housing-payments-1022.png 901w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/housing-payments-1022-300x222.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/housing-payments-1022-768x569.png 768w\" sizes=\"(max-width: 901px) 100vw, 901px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-82693 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/pending-sales-1022.png\" alt=\"\" width=\"897\" height=\"671\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/pending-sales-1022.png 897w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/pending-sales-1022-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/pending-sales-1022-768x575.png 768w\" sizes=\"(max-width: 897px) 100vw, 897px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-82694 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/new-listings-1022.png\" alt=\"\" width=\"895\" height=\"673\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/new-listings-1022.png 895w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/new-listings-1022-300x226.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/new-listings-1022-768x578.png 768w\" sizes=\"(max-width: 895px) 100vw, 895px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-82695 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/active-listings-1022.png\" alt=\"\" width=\"899\" height=\"671\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/active-listings-1022.png 899w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/active-listings-1022-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/active-listings-1022-768x573.png 768w\" sizes=\"(max-width: 899px) 100vw, 899px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-82696 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/mos-1022.png\" alt=\"\" width=\"898\" height=\"669\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/mos-1022.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/mos-1022-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/mos-1022-768x572.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-82697 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/two-weeks-1022.png\" alt=\"\" width=\"897\" height=\"670\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/two-weeks-1022.png 897w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/two-weeks-1022-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/two-weeks-1022-768x574.png 768w\" sizes=\"(max-width: 897px) 100vw, 897px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-82698 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/dom-1022.png\" alt=\"\" width=\"900\" height=\"664\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/dom-1022.png 900w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/dom-1022-300x221.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/dom-1022-768x567.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-82699 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sold-above-list-1022.png\" alt=\"\" width=\"896\" height=\"671\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sold-above-list-1022.png 896w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sold-above-list-1022-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sold-above-list-1022-768x575.png 768w\" sizes=\"(max-width: 896px) 100vw, 896px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-82700 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sale-to-list-1022.png\" alt=\"\" width=\"898\" height=\"665\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sale-to-list-1022.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sale-to-list-1022-300x222.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/sale-to-list-1022-768x569.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-82701 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/demand-index-1022.png\" alt=\"\" width=\"898\" height=\"670\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/demand-index-1022.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/demand-index-1022-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/demand-index-1022-768x573.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping.\u00a0 The daily average mortgage rate dropped to 6.17% this week, near the lowest level in three years. Lower mortgage rates are curbing growth in monthly mortgage payments; the [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":82702,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8,615],"tags":[623,655,654],"coauthors":[124],"class_list":["post-82689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","category-weekly-market-update","tag-national","tag-weekly-market-tracker","tag-weekly-market-update"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through<\/title>\n<meta name=\"description\" content=\"A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through\" \/>\n<meta property=\"og:description\" content=\"A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-23T12:00:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1680\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dana Anderson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dana Anderson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/\"},\"author\":{\"name\":\"Dana Anderson\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/309385292bf91585d2e0a130b0a2566b\"},\"headline\":\"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through\",\"datePublished\":\"2025-10-23T12:00:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/\"},\"wordCount\":905,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg\",\"keywords\":[\"national\",\"weekly market tracker\",\"weekly market update\"],\"articleSection\":[\"Housing Market News\",\"Weekly Market Update\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2025\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/\",\"name\":\"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg\",\"datePublished\":\"2025-10-23T12:00:57+00:00\",\"description\":\"A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2025\\\/10\\\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg\",\"width\":1680,\"height\":1200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"name\":\"Redfin Real Estate News\",\"description\":\"The latest real estate news and research from technology-powered residential real estate company, Redfin.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.redfin.com/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\",\"name\":\"Redfin\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"width\":1100,\"height\":235,\"caption\":\"Redfin\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/redfin\",\"https:\\\/\\\/x.com\\\/redfin\",\"https:\\\/\\\/www.instagram.com\\\/redfinrealestate\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/redfin\",\"https:\\\/\\\/www.pinterest.com\\\/redfin\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/Redfin\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/309385292bf91585d2e0a130b0a2566b\",\"name\":\"Dana Anderson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Dana_Anderson_722_RT-150x150.jpg6a0821cd173d24b4c47bf9d2c09ca097\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Dana_Anderson_722_RT-150x150.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Dana_Anderson_722_RT-150x150.jpg\",\"caption\":\"Dana Anderson\"},\"description\":\"As a data journalist at Redfin, Dana Anderson writes about the numbers behind real estate trends. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/author\\\/dana-andersonredfin-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through","description":"A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/","og_locale":"en_US","og_type":"article","og_title":"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through","og_description":"A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping.","og_url":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2025-10-23T12:00:57+00:00","og_image":[{"width":1680,"height":1200,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg","type":"image\/jpeg"}],"author":"Dana Anderson","twitter_card":"summary_large_image","twitter_creator":"@redfin","twitter_site":"@redfin","twitter_misc":{"Written by":"Dana Anderson","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/"},"author":{"name":"Dana Anderson","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/309385292bf91585d2e0a130b0a2566b"},"headline":"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through","datePublished":"2025-10-23T12:00:57+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/"},"wordCount":905,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg","keywords":["national","weekly market tracker","weekly market update"],"articleSection":["Housing Market News","Weekly Market Update"],"inLanguage":"en-US","copyrightYear":"2025","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/","url":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/","name":"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg","datePublished":"2025-10-23T12:00:57+00:00","description":"A homebuyer on a $3,000 budget has gained $26,000 since last year as mortgage rates drop to the low-6% range. But pending home sales are still slipping.","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2025\/10\/PLP_27-Elk-Stone-Dr_Dallas_TX_2-scaled.jpg","width":1680,"height":1200},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-mortgage-rates-drop-buyers-stay-on-sidelines\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Mortgage Rates Drop Near 3-Year Low, Opening Door For Homebuyers\u2013But Few Are Walking Through"}]},{"@type":"WebSite","@id":"https:\/\/www.redfin.com\/news\/#website","url":"https:\/\/www.redfin.com\/news\/","name":"Redfin Real Estate News","description":"The latest real estate news and research from technology-powered residential real estate company, Redfin.","publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redfin.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.redfin.com\/news\/#organization","name":"Redfin","url":"https:\/\/www.redfin.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","width":1100,"height":235,"caption":"Redfin"},"image":{"@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/redfin","https:\/\/x.com\/redfin","https:\/\/www.instagram.com\/redfinrealestate\/","https:\/\/www.linkedin.com\/company\/redfin","https:\/\/www.pinterest.com\/redfin\/","https:\/\/en.wikipedia.org\/wiki\/Redfin"]},{"@type":"Person","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/309385292bf91585d2e0a130b0a2566b","name":"Dana Anderson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/10\/Dana_Anderson_722_RT-150x150.jpg6a0821cd173d24b4c47bf9d2c09ca097","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/10\/Dana_Anderson_722_RT-150x150.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2023\/10\/Dana_Anderson_722_RT-150x150.jpg","caption":"Dana Anderson"},"description":"As a data journalist at Redfin, Dana Anderson writes about the numbers behind real estate trends. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.","url":"https:\/\/www.redfin.com\/news\/author\/dana-andersonredfin-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/82689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13153"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=82689"}],"version-history":[{"count":5,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/82689\/revisions"}],"predecessor-version":[{"id":82707,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/82689\/revisions\/82707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/82702"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=82689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=82689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=82689"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=82689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}