Georgia Market Update: What Rates Did Last Year — and Why It Matters Now
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As we kick off a new year, a lot of buyers and homeowners are asking the same question: What actually happened with mortgage rates last year—and where does that leave us now?
Instead of getting lost in headlines, it helps to zoom out and look at the big picture.
Over the past year, mortgage pricing quietly improved more than many people realize. That doesn’t mean rates were smooth or predictable—but it does mean we’re starting this year from a stronger position than where we began last year.
Let me break that down in plain English.
What Changed Over the Past Year
On the conventional loan side, mortgage pricing improved significantly compared to this time last year. In practical terms, that means buyers today are seeing noticeably better pricing for the same rate than they would have a year ago.
For example, on a typical Georgia home loan, that improvement can translate into thousands of dollars in savings compared to last year’s pricing—without changing the loan amount or loan type.
Government-backed loans (like FHA and VA) also improved, just not quite as dramatically. Still, the progress was meaningful and helped keep monthly payments more manageable for many buyers.
The key takeaway?
Rates didn’t just move — they improved overall, even though the ride wasn’t smooth.
A Year of Swings, Not Straight Lines
If last year taught us anything, it’s this: the market doesn’t move in a straight line.
There were stretches where rates jumped quickly and moments where pricing improved just as fast. In fact, the gap between the worst pricing and the best pricing last year was wide enough to make a real difference in affordability for buyers.
What’s interesting is how the year ended. By late fall and into year-end, pricing levels were close to the best we saw all year. That’s important because it tells us we’re not starting this year from a position of stress—we’re starting from a place of opportunity.
What the Bigger Economy Is Saying
Outside of mortgages, the broader markets had their own ups and downs. Stocks finished the year higher, and long-term interest rates settled lower than where they started, even after some volatility along the way.
Why does that matter for buyers?
Because mortgage rates are tied to the broader financial system. When things stabilize, it creates room for opportunity—even if change happens slowly.
What This Means for Georgia Buyers
Here’s the practical takeaway for buyers here in Georgia:
Rates are better positioned than they were a year ago
The market has already shown it can improve without perfect conditions
Timing matters less than preparation
The buyers who benefit most aren’t the ones trying to guess the next move—they’re the ones who understand their numbers, stay informed, and are ready when the right home comes along.
This year is starting with more flexibility and possibility than many people realize.
TAKEAWAY
Last year proved that markets move in cycles, not headlines. While rates fluctuated, the overall trend improved—and that puts buyers in a stronger position as we head into this year.
If you’re thinking about buying in Georgia, the best next step isn’t waiting for the “perfect” rate. It’s understanding your options, your budget, and how today’s numbers actually affect you.
If you want clarity around how today’s market and rates impact your real estate options here in Georgia, I’m always happy to talk it through