WINA Real Estate Analyst Michael Guthrie on the recent rise in mortgage interest rates

May 23, 2026 - 18:59

WINA Chief Real Estate Analyst Michael Guthrie sat down to discuss the sudden upward movement in mortgage interest rates and what it means for buyers and sellers in the local market. According to Guthrie, the recent spike is not a shock to those who have been watching the bond market, but it does create a new layer of uncertainty for anyone trying to close a deal this spring.

Guthrie explained that the rise is largely tied to fresh economic data that suggests the Federal Reserve may hold rates higher for longer than previously expected. When the bond market reacts to that possibility, mortgage rates tend to follow. He noted that even a small jump in the rate can significantly shift a buyer's monthly payment, which in turn affects how much house they can afford.

Locally, Guthrie says the impact is already visible. Some buyers are pulling back, waiting to see if rates stabilize or drop again. Sellers, on the other hand, are having to adjust their expectations. Homes that might have drawn multiple offers a few weeks ago are now sitting longer on the market. Guthrie emphasized that this does not mean the market is crashing, but it is definitely cooling off from the frenzy seen earlier this year.

He advises both buyers and sellers to stay realistic. For buyers, locking in a rate now might still be a good move if they plan to stay in the home long-term. For sellers, pricing competitively from the start is more important than ever. Guthrie concluded by saying that while the rate environment is challenging, it is not impossible to navigate with the right strategy and a clear understanding of the numbers.