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What is going to happen with mortgage rates, and should I wait to buy a new home?

Answer: Will rates go up or down or stay consistent over the next few months or years? Most potential homebuyers want to know what mortgage rates will look like in the future. Should I wait for rates to come down? While it is impossible to know exactly what the future holds, educating yourself on likely trends with mortgage rates will help you decide when the right time is for you to buy a home. Cannon Real Estate is a resource for the latest intel on mortgage rates and where rates look to be going in the future. Becoming familiar with decisions of the fed and reading what financial analysts share can help to give a homebuyer the best information about future mortgage rates. According to Fannie Mae (Federal National Mortgage Association) on September 23, 2025, “Mortgage rates are forecast to end 2025 and 2026 at 6.4 percent and 5.9 percent, respectively.” You can read the full article here: This means that rates will not change much for the rest of 2025 and will likely only go down .5 percent over the next 14-15 months. With this projection from Fannie Mae, you can decide if it’s worth waiting for this potential reduction in mortgage rates by the end of 2026.

How do I know if it’s the right time to sell my home?

Answer: There are several factors that can determine if it’s the right time to sell your home, and these factors can are very unique to your situation. However, there are general principles that apply to most homeowner situations and can help you decide if the time is right to sell your home in Utah. Consider the following:

• Mortgage Rates are a major factor in deciding if it’s the right time to sell your current home and look for a new home for you because of how interest rates affect your monthly mortgage payments. Will rates go up or down or stay consistent over the next few months or years? Should I wait to see if rates come down? While it is impossible to know exactly what the future holds, you can have an educated assumption about where interest rates will likely go later this year and even in the next several years. Becoming familiar with decisions of the fed and reading what financial analysts share can help have the best information about future mortgage rates. According to Fannie Mae (Federal National Mortgage Association) on September 23, 2025, “Mortgage rates are forecast to end 2025 and 2026 at 6.4 percent and 5.9 percent, respectively.” You can read the full article here: This means that rates will not change much for the rest of 2025 and will likely only go down .5 percent over the next 14-15 months.
• Challenging financial situations can dictate that it’s time for you to sell your home. Are you unable to make your payments and risk foreclosure? It is in your best interest to act if you risk foreclosure whether selling your home or negotiating with your lender for a loan modification, payment plan, forbearance, or even a deed in lieu of foreclosure. You are almost always worse off by doing nothing about foreclosure because of the damage to your credit and loss of any equity you’ve built up.
• Market Conditions are certainly important to consider when selling a home in Utah or anywhere else. While it’s never as simple as buy low and sell high, it is important to consider what stage of the market cycle your local real estate market is currently experiencing. Have prices bottomed out and are likely to go higher in the future, or are you sitting on a market bubble where things are likely to come down in the near future? Just like with mortgage rates, it is impossible for anyone to know exactly where housing prices will go in Utah, but it is possible to educate yourself and arm yourself with the best information available. According to market experts, housing prices are expected to continue to modestly rise in 2026. Zillow predicts national housing prices to increase by 1.2% in 2026 while the National Association of Realtors (NAR) expects prices to increase by 4% in 2026. You may read their articles here: NAR 2026 Forecast; Zillow 2026 Forecast (as mentioned in that Fast Company article).
• Family Needs are often the deciding factor of if it’s the right time to sell your home and buy a new home. This can include proximity to current or future job, quality of schools for your children, need to increase the size of your home due to your growing family, desire for a change of scenery (e.g., more rural), or even the desire to be closer to family. Determining if your family’s situation means it’s the right time to sell your home will also be influenced by the current market conditions.

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What are common pitfalls for buying a home?

Answer:

• Buying more house than you can afford is a common mistake that homebuyers make. Finding just the right home with beautiful features can cause us to spend more than we should on a home. It is recommended by experts that you not spend more than 25 to 30% of your monthly income on your housing expenses, which include the mortgage, homeowner’s insurance, and property taxes).
• Not involving the right experts in the homebuying process can turn into very expensive lessons for homebuyers.
• Getting so enamored with an individual home that your emotions get free reign of your decision-making. It is important to balance both the emotions and feelings you have about a home and also the logical side of things. How much will the house cost and are there issues with the house that I’m blinded to because of my overzealousness to own the home?

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Will the housing market get more affordable in the future?

Answer: Have prices bottomed out and are likely to go higher in the future, or are you sitting on a market bubble where things are likely to come down in the near future? Just like with mortgage rates, it is impossible for anyone to know exactly where housing prices will go in Utah, but it is possible to educate yourself and arm yourself with the best information available. According to market experts, housing prices are expected to continue to modestly rise in 2026. Zillow predicts national housing prices to increase by 1.2% in 2026 while the National Association of Realtors (NAR) expects prices to increase by 4% in 2026. You may read their articles here: NAR 2026 Forecast; Zillow 2026 Forecast (as mentioned in that Fast Company article).

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What things can I do to help my home sell faster?

Answer: Determining when and for how much your house sells is more under your control than you might think. While you ultimately can’t fully decide when a buyer will pay you for your home, there are several key factors in selling your house as fast as possible and for the most money possible. These include the following:

• The Right Price: Few things have a bigger impact on how quickly your home will sell than pricing it correctly.
• The Right Look: The bones of your home are what they are, but there are many things you can do with a small budget to enhance the look of your home. Decluttering, cleaning, minor touch-ups and repairs, and even small fixture upgrades can go a long way to increasing the speed to sell your home.
• The Right Marketing: How many people know that your house is for sale? The more buyers that know, the more chances of selling. Marketing can include yard signs, online listings, open houses, hiring a real estate agent, and spreading the word to your network, and more.
• The Right Partner: Partnering with an effective real estate agent can not only help with the speed of selling your house but should also increase your net take home from the sell of your home after paying your listing agent’s commission. As a real estate, I feel strongly that you’ll get more than the expense of using a real estate agent in the process of selling a home including the marketing and negotiation of the sale.