If Rates Fall Fast, Prices Will Run Faster

If you’re holding out for a 3 percent mortgage, here’s the wake-up call: that era was a one-off born of massive intervention, and a return would likely explode home prices overnight. We break down how mortgage lending actually works, what investors need to fund loans, and why a healthy housing market probably lives closer to long-run norms. Instead of chasing an illusion, we map out what “slightly lower” rates could look like and how small moves can open big doors if you’re positioned before the crowd.

We also zoom out from rates to the forces shaping your day-to-day search. Inventory in our area jumped from roughly 300 homes in 2021 to about 1,480 today, which sounds like relief but also feeds analysis paralysis and contract fallout over tiny inspection items. Add modern swipe habits and the fear of acting alone, and you get the largest backlog of qualified buyers we’ve seen in years. If rates tick down even modestly, that pool could rush back in together—and when that happens, price gains can outpace any monthly payment savings from waiting.

Have other questions about living in, moving to, or visiting St. George and Southern Utah? Just ask!

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🌟 Who? Jeremy Larkin was born and raised in St. George, Utah and is the owner of The Larkin Group Real Estate Advisors.

📍 Where? Washington and Iron County, Utah, including, but not limited to St. George, Washington City, Ivins, Santa Clara, Hurricane, LaVerkin, Toquerville, Cedar City and Parowan.

💈 What? Jeremy and his team of expert advisors at The Larkin Group walk the best clients in the world through the brain surgery of Buying, Selling and Investing Southern Utah Real Estate! And perhaps more importantly, they LOVE this community and pouring their heart and soul into it!

📻 Tune in! Jeremy is the host of The "St. George Real Estate Morning" Drive radio show 94.9 FM / 890 AM. You can stream the weekly program Thursdays at 8:35 AM here: https://tinyurl.com/radiorealestate

🙏 Give: The St. George Basket Brigade feeds 200+ families every Thanksgiving and supports local families, students and schools through organizations like Tan's Treats. Learn more and give at http://stgeorgebasketbrigade.org/

🔍 SEARCH ALL HOMES AND LAND in Washington County https://www.gostgeorge.com/
🔗 CHECK YOUR CURRENT HOME EQUITY @ https://www.gostgeorge.com/homevalue

[00:00:00] Setting The Big Rate Question
[00:04:05] Senior Games And Market Vibes
[00:09:40] Inventory Then Versus Now
[00:15:00] Affordability, Payments, And Myths
[00:21:40] Final Thoughts And How To Reach Us