Holding on to a 3% mortgage rate is tough—no doubt about that. It’s the big reason many homeowners have put off moving over the past few years. But here’s something to think about.

Sure, having a low interest rate is great, but it doesn’t make up for feeling cramped, struggling with stairs, or being a thousand miles away from family. Those real-life factors are motivating more sellers to make a move, even with today’s rates.

Data reveals that fewer homeowners are holding mortgages with rates under 3% since more people are relocating. At the same time, there's been an increase in the number of homeowners securing mortgage rates above 6% (refer to the graph below).

The Biggest Reasons People Are Moving Right Now

Why are some homeowners okay with taking on a higher mortgage rate? A survey from Realtor.com offers some insight. It reveals that 79% of homeowners thinking about selling right now are doing so because they have to, not just because they want to. Interestingly, the main reasons driving these moves aren’t usually about money—most are non-financial factors.

Do any of these reasons feel familiar to you?

• You need more space when your family grows—whether it’s a new baby, kids wanting their own rooms, or parents moving in to make caring for them easier. It’s easy to outgrow your current home quicker than you might expect.

• Feeling like you need a bit less space these days—If the kids have flown the nest, you might be dreaming of a simpler life. Downsizing can be a huge relief: fewer rooms to clean, less to maintain, and even lower utility bills!

• Closer to Family—Sometimes, the strongest reason to move isn't about finances or logic. It's simply wanting to be closer to your loved ones. Whether that means helping with the grandkids or caring for aging parents, the pull to be near family often outweighs any other considerations.

• A Relationship Change—Sometimes, major shifts in our relationships, like a divorce, separation, or even moving in together with a new partner, create a strong need for a fresh start. And often, that new beginning means finding a new place to call home.

• A New Job Opportunity—If you've landed your dream job, or your partner's company is relocating, that can certainly mean you need to move to a new area.

 What About Mortgage Rates?

Experts do expect mortgage rates to come down, but it's going to be a slow process. The newest forecasts suggest only a small drop this year—not the 3% decrease you might be hoping for.

Waiting for a big drop in rates might seem like a smart move, but it often just means spending more time stuck in a place that doesn’t really work anymore. For a lot of people, that waiting game has already lasted too long.

According to Realtor.com, almost two out of three people thinking about selling their home have been considering it for more than a year. If that sounds like you, maybe now is the right moment to ask yourself: are you ready to make a move?

How much longer do you want to keep hitting pause on your life?

Bottom Line

Maybe the home you bought back in 2020 was perfect at the time, but five years later, it’s not quite meeting your needs anymore. That “for now” place might have worked then, but by 2025, your priorities and lifestyle have likely changed. And that’s totally normal.

Mortgage rates definitely play a role, but the bigger question is: what’s the overall impact on your budget and long-term goals?

What type of home fits the lifestyle you're living today?

Let’s have a conversation about what’s different now and figure out what kind of move would truly help you progress in life.