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ONTGOMERY, Ala. – Homebuyers eyeing a purchase in the near future are being told by real‑estate experts that the best moment is now. The Federal Reserve’s latest move to trim its overnight borrowing rate to a 3.47‑4.00% band—its second cut in two months—marks the lowest level since 2022 and is expected to push mortgage rates lower. Last week’s dip brought the average mortgage rate to 6.19%, the lowest in years, according to Anna Lowder, Director of Development at Hampstead Homes.

    Economist Evan Moor of the Alabama Association of Realtors points out that a robust labor market, combined with the reduced mortgage costs, has helped fuel home sales. Lowder’s own experience in the Hampstead community confirms this trend; she forecasts that the momentum will carry through the rest of the year. “September was one of our most active months in years,” she says, noting a surge in closings.

    A recent CNBC housing‑market study found that most agents believe mortgage rates will decline further. Yet Lowder cautions buyers who are holding out for the 2‑3% rates seen during the recession and pandemic that those levels are an anomaly. “We’re at 6.19% now, one of the lowest in half a century,” she explains. “Those historic lows are unlikely to return.”

    The consensus among professionals is clear: with rates trending downward and the market showing robust activity, the window for purchasing a home is open. Lowder urges potential buyers not to wait for a future dip that may never materialize. “Now is the best time to lock in a mortgage,” she says.

    If you’re contemplating a home purchase, the experts’ message is simple: act today.