If you’ve been waiting for a sign to make a move—this might be it. Mortgage rates just dropped to their lowest point in nearly a year, giving buyers more financial breathing room and bringing more qualified eyes to listings across the Grand Strand. But here’s the truth: the real opportunity isn’t just about a number on paper. It’s about how that number shifts the balance of power. And right now? Buyers are holding the cards.
But before we dive into how you can play this hand—whether you're buying or selling—let's talk about what’s actually happening and why it matters.
What Just Happened With Rates?
After a long stretch of rate increases, we’re finally seeing a noticeable dip. The average 30-year fixed mortgage rate dropped to around 6.5% last week, and some lenders were quoting even lower on certain days. That drop, even if it’s less than 1%, can mean hundreds of dollars in monthly savings—or tens of thousands over the life of your loan. But it gets better...
How Buyers Can Use This Market to Their Advantage
With rates dropping and inventory still sitting longer than usual, negotiation is back on the table, and buyers have leverage. Here’s how you can use it:
1. Negotiate a Rate Buydown
A rate buydown is when the seller agrees to pay points (a percentage of your loan amount) to reduce your interest rate for the life of the loan or temporarily during the first few years. This is also something you as a buyer can do.
There are two common types:
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Permanent buydown: Lowers your rate for the full loan term.
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Temporary buydown (like a 2-1 buydown): Reduces the rate by 2% in year 1 and 1% in year 2 before returning to the original rate in year 3. Perfect for easing into your mortgage while waiting for the economy to stabilize or rates to drop further.
Example: Let’s say you’re approved at a 6.5% rate, but negotiate a 2-1 buydown. That means:
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Year 1: 4.5%
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Year 2: 5.5%
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Year 3+: 6.5%
Lower payments early on = breathing room for your budget and lifestyle.
2. Ask for Seller Concessions
With longer days on market, many sellers are open to helping with closing costs. This could cover:
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Your appraisal fees
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Title insurance
- Home Warranties
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Closing costs
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Or even, yes, a buydown like we just mentioned
A great agent (👋🏼 hello) will write the offer that makes these concessions feel like a win for both sides.
3. Get More Home for Your Money
With less competition, you can often secure a better price, better terms, or a home that might’ve been out of reach just a few months ago. It’s the kind of shift that turns a “maybe next year” into a “let’s do this now.”
Sellers—This Market Works for You, Too
You might be thinking, "Wait, if buyers have all the power, how does this help me?"
Here’s the twist: rate drops bring buyers back. That means more showings, more competition, and more serious offers, as long as your home is priced correctly and marketed strategically.
The key is positioning:
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Offering concessions up front can attract better buyers faster and helps you compete with new construction incentives.
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A polished listing strategy with targeted outreach ensures your home doesn’t just sit...it sells.
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And when you work with a proactive agent (still me 👋🏼), you’ll navigate the give-and-take with confidence and clarity.
Real Estate is a Game of Timing AND Strategy
A year ago, buyers were desperate to find homes before rates rose again. Six months ago, sellers were hesitant, worried about low demand. But right now? There’s a unique balance, and that’s where the opportunity lies.
Whether you’re:
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Buying your first home or your forever one
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Looking to resize for a new season of life
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Selling to cash in on equity
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Or simply curious what this shift means for you
Let’s connect. I’ll walk you through what’s real, what’s hype, and what move makes the most sense for your goals. Because every home tells a story… and I’m here to help you write yours.
Elayna Cassidy
Realtor | Oasis Realty Collective
843.585.3236 | [email protected]
https://www.elaynacassidy.com