
Let’s turn back the clock to July 30, 2023. In Metro Atlanta, the average 30-year fixed mortgage rate was hovering just below 7%. Industry forecasts were awash with optimism. We were told rates would be falling soon—perhaps below 6% by year-end—with some even speculating that a 5.5% mortgage was within reach. And with that drop, came the promise of increased affordability.
Two years later, reality tells a different story.
It’s now July 30, 2025. Mortgage rates remain stubbornly high, still hovering just under 7%, with only fleeting moments below 6.5%. Despite numerous economic headlines and policy pivots, the needle has barely moved on financing costs. In that same window, Metro Atlanta home prices haven’t waited. They’ve appreciated approximately 5% across most segments of the market—some even more in desirable in-town neighborhoods and strong suburban school districts.
Let’s quantify that. A $500,000 home in July 2023 is now selling for closer to $525,000. Assuming a 5% down payment and a 6.75% fixed rate in both years, the monthly principal and interest payment today is over $150 higher than it would have been in 2023. So much for the “wait and it will be more affordable” strategy.
And yet, we’re hearing the same narrative again in 2025: rates will fall, affordability will return, and home prices will stabilize. While there’s reasonable expectation that rates may soften into the high-5% range over the next 12 months, this does not necessarily equate to a better buying opportunity. Quite the opposite. If lower rates do materialize, Atlanta—like many competitive metros—will likely see an uptick in demand. Homes that have been sitting for 60+ days could see offers in a matter of weeks. Days on market will compress. And prices? They may not just hold—they could rise again.
This is the “double-edged sword” Atlanta buyers must contend with: lower rates reduce borrowing costs, but increased competition can drive up prices, neutralizing or even reversing the benefit.
It’s a moment that reinforces a timeless principle in housing economics: “Marry the house, date the rate.” Had a buyer followed this advice two years ago in Atlanta, not only would they have secured a lower monthly payment, but they’d also be sitting on $25,000+ in equity growth. And with a possible refinance opportunity on the horizon, monthly savings could increase further.
The bigger takeaway: Don’t be fooled again. Atlanta’s housing market today offers something we haven’t seen in years—negotiation power. Sellers are offering closing cost incentives. Inventory is sitting longer. And while prices haven’t dropped dramatically, the lack of bidding wars has restored balance in favor of the buyer.
If you’ve been waiting on the sidelines for “the right time,” consider this: the best time to buy isn’t always when rates are at their lowest—it’s when competition is manageable, prices are still negotiable, and you have room to make the right long-term move.
That time could very well be now.
DC Aiken is Senior Vice President of Lending for CrossCountry Mortgage, NMLS # 658790. For more insights, you can subscribe to his newsletter at dcaiken.com.
The opinions expressed within this article may not reflect the opinions or views of CrossCountry Mortgage, LLC or its affiliates.