There’s encouraging news for anyone thinking about making a move this spring.

According to Sam Khater, Chief Economist at Freddie Mac, mortgage interest rates have dropped to their lowest point in three years compared to the previous spring homebuying season.

That’s a meaningful shift.

Spring is typically one of the busiest times of the year for real estate. More homes hit the market, more buyers start their search, and competition tends to heat up. But this year, buyers are entering the season with an advantage: improved borrowing costs.

Lower mortgage rates directly impact affordability. Even a small dip in rates can reduce your monthly payment, increase your purchasing power, or make it easier to qualify for the home you want. For many buyers who may have been waiting on the sidelines, this change could reopen opportunities that previously felt out of reach.

While the market still requires strategy and preparation, the current rate environment signals a more favorable window for financing than we’ve seen in recent spring markets.

If buying a home is on your radar, this could be the moment to explore your options and see how today’s rates work in your favor.