The Fed just raised rates for the first time in more than three years, mortgage rates hit the highest level since November of 2023, and fewer buyers are signing contracts. Here is what that means for your payment, and why the buyers who stay in the game now have leverage.

This episode: the Fed vote, what 7.28% really costs you on a $400,000 loan, why a seller paid rate buy down beats a price cut, supply at a 10 year high, Atlanta and Houston numbers, the myth that the Fed sets your mortgage rate, five quick tips, and three questions from you.

I'm Mickey Lawrence, a licensed Realtor in Georgia and Texas. Want your real payment at today's rate? Book a free strategy call: https://calendly.com/settleinatl. Call or text 770 373 4944. Guides, down payment assistance, and a ton of housing resources: Click Me For Resources

Educational content only. Not financial, tax, legal, or insurance advice. Verify current figures with your lender, insurer, and tax professional. Equal Housing Opportunity.

Music: Licensed through Epidemic Sound.

The mortgage rate everybody is watching hit 7% this week. And I know what you're thinking. Mickey, rates went up, that's bad, right? It depends on who you are. Because the same week rates went up, something else happened, and the gap between those two things is where the money is this month.

I'm Mickey Lawrence, a licensed Realtor in Georgia and Texas, host of R.E.N.T. Real Estate News Tonight, covering the Atlanta real estate market and the Houston housing market. This show is not about what the news means for the economy. It's about your payment, your equity, your closing timeline, and your peace of mind.

What are mortgage rates today? The 30 year fixed rate is sitting around 7%, up from 6.7% three weeks ago. On a $400,000 loan, that jump costs about $80 a month. Negotiating $15,000 off the price saves roughly $100 a month, so one seller concession can offset the whole increase.

Why is this a buyer's opportunity? Builders cut the median new home price to $398,300, the lowest in a year. 63 percent of builders are offering incentives, and builder inventory sits at 9.3 months, well above the healthy four to six months.

How do you sell a home at 7% rates? List on the MLS, know your real motivation, and price for reality. A Sunset Avenue listing from my accountability group drew 42 showings and 14 offers, and sold over asking in under seven days.

How do you buy a home at 7% rates? Have a real life event behind your move, get pre approved before you shop, and set a timeline. A $400,000 loan at 7% is about $2,800 a month in principal and interest, before taxes and insurance. Buyers who can close in 14 to 21 days stand out to sellers.

How are real estate investors making money at 7%? Creative financing, including owner financing, rent to own deals, and partnering to split the risk.

How are Atlanta and Houston doing? Atlanta has about 20,000 active listings, a median single family price near $442,500, and homes averaging 21 days on market. Houston sold about 8,300 single family homes in July, up 1.6%, with 5.5 months of inventory and a $340,000 median. Houston townhomes and condos sit at 9.1 months of inventory with a $211,000 median.

Nobody is going to hand you a perfect moment. There's just information and what you do with it. The people who build real wealth in real estate aren't the ones who timed it. They're the ones who understood it and moved.

CHAPTERS
00:00 Cold Opening and Overview
03:24 Selling Your Home at 7% Rates
08:08 Buying a Home at 7% Rates
13:01 Investment Strategies in a High Rate Environment
18:49 Market Brief: Atlanta and Houston

Call or text Mickey Lawrence, licensed Realtor in Georgia and Texas: 770 373 4944

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Educational content only. Not financial, tax, legal, or insurance advice. Rates, inventory, and program terms change, so verify current figures with your lender, insurer, and tax professional before acting. Mickey Lawrence is a licensed real estate agent in Georgia and Texas. Equal Housing Opportunity.

A builder will fight you tooth and nail over $15,000 off the sticker price, because that comp goes public and reprices every other house in the neighborhood. That same builder will hand you $18,000 toward a rate buydown without blinking, because it never shows up in the comps. Same money in your pocket, completely different problem for them. That's why new construction is the better deal right now, not the resale market.

I'm Mickey Lawrence, a licensed Realtor in Georgia and Texas, covering the Atlanta real estate market and the Houston housing market every week on the Market News Brief podcast.

Why are new construction deals better than resale right now? Builders are sitting on 9.3 months of standing inventory, more than double the 4.6 months in the resale market. A builder isn't an emotional seller. They have a construction loan accruing interest, a lender with covenants, and a finished house with a lawn somebody is being paid to mow every week. That pressure is exactly what makes them negotiable, and it's the same story in both Atlanta and Houston this fall.

What percentage of builders are offering incentives in 2026? 63 percent are offering incentives, and 35 percent are cutting prices by an average of 6 percent, according to the August NAHB and Wells Fargo housing market index.

Should I ask a builder for a price cut or a rate buydown? Ask for the buydown. A price cut becomes public record and forces the builder to reprice every remaining house in that community. A rate buydown is a closing cost credit that never shows up in the comps, so builders say yes to it far more easily, even when it costs them more.

What else should I do before buying new construction? Bring your agent with you on the very first visit, not the second. Most builder registration policies pay whoever's name is on the sign in sheet first, so walking in alone gives away your representation for free, and the builder keeps that money instead of passing it to you. Also ask which finished, unsold homes have been sitting the longest. The pain isn't spread evenly across a builder's inventory, and the house that's been finished for 90 days is where the real negotiating room is.

This episode also covers what's actually happening with your other numbers. Georgia homeowners insurance is up 39.7 percent since 2021, and can now affect your loan approval, not just your closing costs. Texas homeowners insurance rose 60 percent between 2019 and 2024. Mortgage rates held at 6.67 percent, which costs about $24 a month more than a year ago on a $400,000 loan, and the September Fed meeting will not move that rate much either way.

If you're planning to buy in 2027, the groundwork for that deal starts with a builder conversation in 2026.

I'm Mickey Lawrence, licensed Realtor in Georgia and Texas. 770 373 4944.

Everything else, my socials, my free guides, and every way to work with me, all in one place.
https://linktr.ee/settleinatl

Educational content only. Not financial, tax, legal, or insurance advice. Rates, inventory, and program terms change, so verify current figures with your lender, insurer, and tax professional before acting. Mickey Lawrence is a licensed real estate agent in Georgia and Texas. Equal Housing Opportunity.

Chapters

00:00 Cold Open + Welcome
01:51 STORY 1 — Insurance is the line item eating your budget
10:07 STORY 2 — Mortgage rates hold at 6.67 percent
13:09 STORY 3 — Existing home sales, the flat market
18:22 STORY 4 — The Fed's September problem
21:16 STORY 5 — Builders are still the most motivated sellers in America
25:26 The Takeaway
26:49 Sign off