https://www.kkco11news.com/2026/01/17/mortgage-rates-impact-local-housing-market/
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GRAND JUNCTION, Colo. (KKCO) - New data from Freddie Mac shows mortgage rates are slowly declining, and local real estate experts say the trend could shift the housing market if it continues.
Experts say the lower rates are increasing buying power and creating a brief opportunity for buyers before the market responds.
“I think once the rates get where they need to be, there’ll be a run on the market and then it’ll equalize out again pretty quick,” said Merrite Wyatt, a Broker for Bray Real Estate. “More stuff will come on the market. I think as sellers see more of the inventory coming off the market and moving, more sellers will come on for a while. So we should have a nice level run where we get a lot of houses sold.”
The Grand Junction market has remained steady even with recent rate drops.
“Really in the Grand Junction area before this last decline in interest rates, we’ve been sitting at a pretty flat level,” Wyatt said. “We’re still moving as much houses as we did last year. People are still buying and selling. The deals are a little bit harder.”
Many buyers are waiting, hoping lower rates will give them more options.
“There is a lot of pent-up demand that people are waiting on the rates to move just so they can have the buying power that they need for what they’re looking for,” Wyatt said.
As interest rates decline, buyers can take advantage of current pricing before it increases.
“While the pricing of houses hasn’t went up, as demand increases for the housing market, and we’re not sitting at a surplus yet by any means, so as the houses get pulled off the market, the ones coming back on will probably be at a touch higher,” Wyatt said. “Plus sellers will have more negotiating room, so prices will, as interest rates start to decline, prices will start to increase again.”
Wyatt said being a first-time buyer is difficult because of current price points, but people looking into homeownership should consult with a lender to learn their options.
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