What does a drop in mortgage rates mean for home sales?

A drop in mortgage rates, such as the current dip to around six point one nine percent for 30-year loans, generally triggers a modest lift in home sales. Lower rates reduce monthly payments, making homeownership more affordable and encouraging hesitant buyers to tour homes and submit offers. Markets with tight inventory often react fastest, showing increased buyer activity when rates fall below six point two five percent. Sellers benefit too as buyer demand strengthens, but success still depends on competitive pricing, clear concessions, and excellent home presentation.