Should You Stay or Sell? Rethinking Your Low Mortgage Rate in Today’s Market
If you’re one of the many homeowners in Williamsburg, VA enjoying a 3% mortgage rate, it’s understandable to hesitate at the idea of giving that up. But before you let that number be the only thing keeping you rooted, it’s worth asking a different question:
Will your current home still meet your needs five years from now?
A lot can change in just a few years—children move out, careers shift, retirement plans take shape. Maybe your current home feels too big, too small, or just doesn’t function the way it used to. And in a place like Williamsburg, where lifestyle matters—whether it's being closer to walking trails, golf courses, or the vibrant energy of New Town—you don’t want a mortgage rate to keep you from living fully.
So let’s talk numbers.
Home Prices Are Projected to Keep Rising
According to the Home Price Expectations Survey, real estate values are expected to climb steadily through at least 2029. That means the $400,000 home you’d buy today could cost nearly $80,000 more in just five years. Even moderate annual growth adds up quickly—especially in desirable areas like Ford’s Colony, Governor’s Land, or Colonial Heritage.
Mortgage Rates Will Shift, But Likely Not Drastically
The current consensus among experts from Fannie Mae, Wells Fargo, and the MBA? Mortgage rates are expected to come down—but not by much. They may drop closer to the 6% range, but no one’s projecting a return to 3%. That means waiting for ultra-low rates could leave you priced out by rising home values instead.
What This Means for You
If a move is on your horizon—whether it’s upsizing, downsizing, or relocating to be closer to family or amenities—waiting might cost you more than you think. Your 3% rate is great, but if your home no longer fits your lifestyle, it could be holding you back from what’s next.
Let’s sit down and look at the numbers together. Whether you’re dreaming about a patio with a view, a smaller home near Market Square, or a custom build in Kingsmill, we can help you time your move right and make the most of both today’s equity and tomorrow’s opportunity.
