With 30-year fixed mortgage rates now at 6.95%—the highest we've seen since January 2025—the monthly payments for a median-priced $430K home are climbing. Even FHA loan payments have ticked up, though it's worth noting that rates are still below the peak of 7.79% from October 2023. As someone who helps borrowers across Tennessee, Alabama, and North Carolina navigate these shifts, I know firsthand how rising rates can impact your plans, whether you're a first-time buyer, investor, or looking to refinance. It's a challenging moment, but understanding the numbers is the first step to making smart, confident decisions about your next move.
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