Wait… These Are the ‘High’ Rates? A little perspective from someone who’s been here before
I remember sitting at the closing table years ago, looking at the interest rate on our loan… and thinking, “Well… honestly, not really thinking about the rate.” It just was what it was!
In 1995, our rate was right around 8%. And when we built our home in 1983? Right in that 12–13% range.
No one really talked about the interest rate – I mean, just look at the chart below. No one said, “We’ll wait.” We made the best decision we could for our life… and moved forward.
Fast forward to today.
Now I hear:
“Rates are too high.”
“We’re going to wait.”
And I get it. Some of us have VERY short memories, while others were too young to be buying homes in the 80’s and early 90’s. But I also think we’re comparing today to something that was never meant to last.
Let’s take a brief journey down ‘memory lane’.
Here’s what mortgage rates have looked like over time:
1975: 9%
1980: 13.7%
1985: 12.4%
1990: 10.1%
1995: 7.9%
2000: 8.0%
2005: 5.9%
2010: 4.7%
2015: 3.9%
2020: 3.1%
2025: ~6.5%
When you look at it this way...
Today’s rates don’t look “high.” They look… familiar.
The 2–3% rates? That was the exception.
Now let’s bring it home.
Because what’s happening nationally and what’s happening here in Douglas County and Sarpy County are not the same story.
You may be hearing in the news that there’s a surplus of homes on the market...
(and if you’ve read some of my past blogs, you already know where I’m going with this)
Inventory is still low
Good homes still get attention
Sellers are holding back because of their current rate
And when sellers hold back... inventory stays tight.
Buyers—this matters.
Waiting can feel safe. But I’m seeing:
Prices holding (or inching up)
Competition on the right homes—yes, multiple offers are becoming more common
Buyers wishing they hadn’t waited
This is worthy of pondering: You marry the house... you date the rate.
Sellers—this matters too.
If you’ve been hesitant to give up your rate... I understand.
But right now you also have:
Less competition
More serious buyers
A better chance to stand out
Again, worth pondering: this combination doesn’t always stick around.
This is where having the right lender really matters...
There’s more than one way to make the numbers work.
A creative lender can:
Lower payments upfront with buydowns
Use assistance to reduce cash to close
Pair concessions with financing to ease monthly cost
For sellers, that means more capable buyers.
Sometimes the “yes” comes down to how the financing is structured.
And one more thing I love about where we live...
Omaha was recently ranked as having the lowest rudeness score in the country.
In other words... one of the nicest places to live.
So here’s the real question.
Not “What are rates doing?”
But...
What does your life need right now?
Because I’ve been there.
Higher rates.
Questions.
A little uncertainty.
And it still turned out to be the right move.
If you’ve been wondering about your next step...
Let’s talk it through.
No pressure. Just a conversation about what makes sense for you—right here, right now.
Coffee’s on me!
Sandi Downing Real Estate/Keller Williams Greater Omaha
Everything that can go wrong WON’T go wrong.
We bring you ‘peace of mind’
and THAT is PRICELESS!