Savannah Feels Like Spring—Will the Housing Market Follow?
As Savannah enjoys a taste of spring today, with sunshine and temperatures in the 60s and 70s, many of us are feeling renewed optimism. This warm, welcoming weather is a reminder that brighter days are ahead—not just for our outdoor plans but also for the real estate market.
The big question on many buyers' and sellers' minds right now is whether mortgage rates will follow suit and bring some relief as we move into the prime home-buying season. With the Federal Reserve’s decision on interest rates looming, today’s market movement offers a glimmer of hope.
A Positive Shift in Mortgage Rates
According to Yahoo Personal Finance, mortgage rates have dipped ahead of the Federal Reserve's upcoming announcement. As of today, the national average for a 30-year fixed mortgage sits at 6.67%, while a 15-year fixed mortgage is down to 5.97% (Tarpley, 2025). Though small, these movements can signal a gradual easing of borrowing costs—welcome news for homebuyers looking to make their move this spring.
What’s Next? The Fed’s Influence on Mortgage Rates
While the Federal Reserve isn’t expected to cut the federal funds rate just yet, experts are keeping a close eye on Fed Chair Jerome Powell’s statements. A positive economic outlook from the Fed could nudge mortgage rates downward, potentially making homeownership more affordable in the coming months (Tarpley, 2025).
This means that if you've been waiting on the sidelines, now is the time to start preparing. A slight dip in rates can make a significant difference in monthly mortgage payments, especially in a competitive market like Savannah.
Why Spring 2025 Could Be a Great Time to Buy
Savannah's real estate market thrives in spring, with new listings, vibrant neighborhoods, and increased buyer activity. If mortgage rates continue on a downward trend, buyers who are pre-approved and ready to move will have a major advantage.
As both a Realtor and Mortgage Loan Officer, I’m here to help you navigate the shifting market with confidence. Whether you’re looking to buy, sell, or refinance, staying ahead of rate trends and market conditions is crucial.
Let’s Make Your Move Happen
Today’s beautiful weather reminds us that change is in the air. If you're considering a home purchase or refinance, let’s start planning now. Contact me to discuss your goals and take advantage of the opportunities this market presents.
Dave Wright
Savannah Realtor & Mortgage Loan Officer
SavannahSouthernHomes.com
