3 Things To Tell Your Clients Who Are Worried About Mortgages


Mortgage rates never fell below 6% in 2023 and you probably didn’t even have to follow the news to notice; you’d just have to observe how so many of your leads were hesitant to buy. 

Even as mortgage rates have declined from their more than 7% peak in Q4 2023, they still haven’t reached back below 6%this has become the threshold everyone is waiting to break, especially aspiring homebuyers. Buyers understandably won’t want to pay a mortgage that’s more than they can afford…or more than the lowest deal they can get.

You and your business don’t have the luxury of waiting on the sidelines for a more favorable market. What can you tell leads and clients to reassure them in this mortgage economy?

Highlight the positive signs

Recent data from Fannie Mae suggests that mortgage rates will be falling below 6% sooner rather than later. The Federal Reserve has also indicated that inflation projections are heading in their desired direction and rate cuts will be coming in 2024.

Even if this ultimately incentivizes leads to keep waiting for now, make sure they’re aware of the positive signs. That way, they can prepare to buy when the time is right—and they’ll remember you.

Stress that there’s less competition 

Is there a silver living here? Since most buyers are staying out for now, there’s less competition—just look at the low sales figures. Mortgage rates may be high, but if there’s a motivated seller, your buying client could leverage the lack of other options to get a favorable deal in other respects.

Recent reporting also shows mortgage applications are rising, i.e. a buyer-rare market isn’t going to last forever. Make sure your clients know that. 

Explain that low rates were an aberration

Many prospective sellers who bought during low rates are reluctant to list their home too, since they won’t be getting a better mortgage deal at their new home. Prospective buyers, meanwhile, regret not buying during the periods of lower interest rates. 

For the buyers at least, if they’re waiting for 2-3% mortgage rates to come back, you should explain that those were a historical aberration, caused by the COVID-19 pandemic. Just because they missed a rare opportunity doesn’t mean they should never buy a house—and that means educating them about what more “normal” market conditions are.





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