Blog > BUY | Mortgage Rates Just Hit a 13-Month High. What Does That Mean for Georgia Homebuyers? | BMB | KEEPING YOU IN THE KNOW

BUY | Mortgage Rates Just Hit a 13-Month High. What Does That Mean for Georgia Homebuyers? | BMB | KEEPING YOU IN THE KNOW

by Barbara BOBBI Meyers

BMB | KEEPING YOU IN THE KNOW

BUY | Mortgage Rates Just Hit a 13-Month High. What Does That Mean for Georgia Homebuyers?

Rates are moving in the wrong direction—but that doesn't necessarily mean you should stop looking.

SEPTEMBER 2026 | BMB MARKET INSIGHT

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THE HEADLINE

Mortgage rates just moved higher. Again.

The average 30-year fixed mortgage rate reached 6.71% for the week ending September 3, 2026, its highest level since July 2025. That's up from 6.66% the previous week and 6.50% a year ago. For buyers who have been waiting for mortgage rates to fall this fall, that's not the news they wanted. But here's the bigger question: Does a higher mortgage rate mean you should wait to buy? Not necessarily.

WHY ARE MORTGAGE RATES RISING?

Mortgage rates don't move simply because the Federal Reserve changes its rate. They are heavily influenced by the bond market—particularly the 10-year Treasury yield. Recent geopolitical tensions, higher oil prices, inflation concerns and uncertainty surrounding U.S. government debt have pushed Treasury yields higher, putting additional pressure on mortgage rates. And that means today's buyer needs to understand something important: Mortgage rates can move even when you aren't expecting them to. They can go up. They can go down. And sometimes they can change quickly.

SO, SHOULD YOU WAIT FOR RATES TO DROP?

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This is probably the question we're hearing most: "Should I just wait until mortgage rates come down?"There is nothing wrong with waiting if your finances aren't ready. But waiting solely because you're hoping rates will suddenly fall could come with its own risks. Nobody knows exactly when rates will decline—or how far they will fall. Meanwhile, home prices, inventory and seller negotiations are also changing. The better question is: "Does buying make sense for ME at today's numbers?"

LOOK AT THE WHOLE DEAL—NOT JUST THE RATE

A mortgage rate is only one part of your home-buying equation.

Consider:

PURCHASE PRICE

Can you negotiate the price based on the property's market position?

SELLER CONCESSIONS

Could the seller contribute toward eligible closing costs?

RATE BUYDOWNS

Could the seller or builder offer a concession that reduces your initial interest rate?

PROPERTY TAXES

How will the property's tax bill affect your monthly payment?

INSURANCE

What will homeowners insurance cost?

HOA

Does the property have monthly or annual association fees?

FUTURE REFINANCING

If rates decline later and you qualify, could refinancing become an option?

The rate matters. But the entire financial picture matters more.

GEORGIA BUYERS STILL HAVE AN ADVANTAGE

Here's the part that shouldn't get lost in the headlines. Georgia's housing market is giving buyers more choices. Realtor.com's August 2026 data shows approximately 89,272 active listings across Georgia, up 6.52% from a year earlier. Median days on market reached 61 days, up 7.14% year over year. That creates something buyers haven't always had:

TIME.

Time to compare.

Time to negotiate.

Time to inspect.

Time to think.

And potentially, time to negotiate concessions that can help offset some of the cost of financing.

THE RATE IS HIGHER. THE OPPORTUNITY MAY BE DIFFERENT.

This is where buyers need to shift their mindset. A higher mortgage rate doesn't automatically mean: DON'T BUY. It means: BUY DIFFERENTLY.You may need to: NEGOTIATE HARDER. SHOP SMARTER. LOOK AT MORE PROPERTIES. UNDERSTAND YOUR TRUE MONTHLY COST. COMPARE LOAN OPTIONS. CONSIDER SELLER CONTRIBUTIONS. BE PATIENT WHEN THE RIGHT OPPORTUNITY ISN'T IN FRONT OF YOU.

WHAT ABOUT ATLANTA?

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Atlanta isn't one single housing market. What's happening in Buckhead can be very different from what's happening in Southwest Atlanta. A new construction community can behave differently from an established neighborhood. A $300,000 home can have a completely different buyer pool from a $700,000 home. That's why national mortgage headlines are only part of the story. Your local market matters. Before deciding whether to buy, look at the inventory, pricing, days on market and negotiating environment where you actually want to live.

THE BMB BUYER STRATEGY

If you're thinking about buying this fall, here's what we recommend:

01 | KNOW YOUR PAYMENT

Don't shop based only on the maximum amount a lender approves.

02 | GET YOUR FINANCING OPTIONS

Talk with your lender about available loan programs and potential rate strategies.

03 | WATCH THE MARKET

Track price reductions, days on market and seller concessions.

04 | NEGOTIATE THE ENTIRE DEAL

Don't focus exclusively on purchase price.

05 | BUY THE RIGHT HOUSE

A great interest rate doesn't make a bad property a good investment.

06 | HAVE A PLAN

Know why you're buying, how long you expect to own the property and what you want your real estate investment to accomplish.

THE BMB TAKE

Mortgage rates reaching 6.71% is significant. But it doesn't tell the entire story. Today's market is a combination of higher borrowing costs + more inventory + more negotiating opportunities + changing buyer demand. That's very different from simply saying: "Rates are high. Don't buy."

At Brown Meyers Brokers, we believe the better approach is to look at the whole picture. Because the right question isn't:

"Will mortgage rates go down?"

It's:"Does this opportunity make sense for me today?" And if it does, let's build the strategy around it.

ARE YOU WAITING FOR RATES TO DROP?

Before you put your home search on hold, let's look at the numbers.

Brown Meyers Brokers can help you understand what you're actually positioned to purchase, where opportunities may exist and how to approach today's market strategically. DON'T JUST WATCH THE MARKET. UNDERSTAND IT.

GET YOUR BMB HOME-BUYING PLAN → BUY SMART. BUY STRATEGICALLY. BUY WITH BMB.

BMB | BROWN MEYERS BROKERS

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Disclaimer: Mortgage rates and market conditions can change daily. This article is for general educational purposes and is not mortgage, financial or investment advice. Buyers should consult a licensed mortgage professional regarding financing options.

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Barbara BOBBI Meyers

+1(678) 438-8675

PRINCIPAL BROKER, REALTOR®