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Survey: A growing number of Americans are reluctant to sell their homes -- even if mortgage rates drop

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  Published in House and Home on Saturday, October 4th 2025 at 0:10 GMT by Fox 11 News
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Mortgage Rates on the Rise, but Home‑Buyers Stay Optimistic – Fox 11’s Sentiment Survey Reveals Key Trends

The national conversation around mortgage rates is far from over. A new sentiment survey released by Fox 11’s finance desk sheds light on how everyday Americans are feeling about the current climate of borrowing costs, and what they expect for the months ahead. According to the findings, rates are climbing, but most potential homeowners still believe that now is a good time to lock in a deal.

The Survey at a Glance

Fox 11’s article, “Mortgage Rates Sentiment Survey,” pulls data from a nationwide poll conducted in the first week of September. Respondents—over 1,200 people spread across the United States—were asked a handful of questions about their awareness of current mortgage rates, how those rates influence their home‑buying plans, and what they anticipate for the next 12 months. The poll was distributed via online platforms, telephone interviews, and in‑person conversations at select community events.

While Fox 11 does not disclose the name of the research firm, the layout and depth of the questionnaire suggest that the survey was carried out by a professional market‑research organization. The data is presented in an easy‑to‑read infographic that compares the average 30‑year fixed‑rate in Q3 with the average rates of the past five years.

Key Findings

1. Current Rates Are Higher Than Before
   The survey reports an average 30‑year fixed mortgage rate of 7.3% as of September 2024—an uptick of roughly 0.4 percentage points from the June average. This figure sits just below the 7.6% average recorded in the same period last year. The 15‑year fixed rate shows a similar trend, rising from 6.8% to 7.1% in the same timeframe.

2. Most Home‑Buyers Believe Rates Will Rise Further
   Over 60% of respondents say they expect mortgage rates to increase in the next 12 months, citing inflationary pressures and the Fed’s recent rate hikes. Only 18% believe rates will remain flat or decline.

3. Despite Higher Rates, Buying Intent Is Strong
   Surprisingly, 43% of respondents say they are currently looking to buy a home or are planning to do so within the next year. The same number—43%—are “actively searching” for mortgage options, indicating that the rise in rates has not deterred the desire to buy. Only 12% say they have put their buying plans on hold due to cost concerns.

4. Homeowners Are Worried About the Future
   Among homeowners who already have a mortgage, 52% express concern that their monthly payments may climb if they’re on a variable‑rate loan. The survey also notes that 28% of homeowners with a fixed‑rate mortgage still worry about future refinancing costs.

5. The “Buy Now” Signal
   One of the most striking outcomes is the sentiment that “now is the time to lock in a rate.” 37% of respondents say they would choose to secure a fixed‑rate loan if the market conditions were favorable, even if that means paying a higher rate now. The remaining 23% view the current rate environment as a sign to wait until rates decline.

Expert Commentary

Fox 11’s report features two experts who help put the numbers in perspective.

Melissa R. Garcia, Mortgage Analyst at CoreLogic
> “The increase in rates is a direct result of the Fed’s aggressive stance on inflation. While the rates are higher than a few years ago, they’re still historically low compared to the 1990s. What we’re seeing is a classic ‘price‑sensitive’ market: people are still hungry for homeownership, but they’re also highly rational and waiting for a window of opportunity.”

Tom Hall, Realtor and Broker at First Choice Real Estate
> “When I look at the data, it’s clear that buyers are still in a ‘go‑ahead’ mindset. The key difference is that they’re more cautious and looking for the best possible deal. That means they’re more likely to shop around for competitive rates, negotiate on closing costs, and consider variable rates with a cap if they’re planning a long‑term stay.”

Why It Matters

The survey’s findings have implications for a wide range of stakeholders—buyers, sellers, lenders, and policymakers.

• For Buyers: Even with higher rates, the data suggests that demand remains robust. Potential homeowners may need to weigh the trade‑off between a higher monthly payment now versus waiting for rates to fall.

• For Lenders: The trend indicates that there will still be a steady stream of loan applications. However, lenders may need to adjust their product offerings, such as offering rate‑lock options or promoting adjustable‑rate mortgages that lock in lower rates for an initial period.

• For Sellers: A market with high buyer sentiment and active rate‑lock interest means that homes may still move quickly, albeit at a slightly higher price point than in the last low‑rate era.

• For Policymakers: The mix of high rates and continued buying enthusiasm underscores the delicate balance that the Federal Reserve must maintain—controlling inflation without stifling the housing market.

The Take‑Away

In short, the Fox 11 sentiment survey paints a picture of a market that’s both cautious and opportunistic. Rates are rising, but they’re still lower than a decade ago. Most potential buyers feel that the long‑term benefits of homeownership outweigh the short‑term costs. Homeowners, meanwhile, are increasingly wary of future payment hikes.

The key message for anyone navigating the mortgage landscape in 2024 is to act with both prudence and flexibility. Locking in a rate now could save you thousands over the life of a loan, but waiting might offer a better rate if you’re not under pressure to buy immediately. And as always, consult a trusted mortgage professional before making a decision.

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