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Today on Real Estate Right Now, we’re tackling the number everyone’s talking about — and nobody’s happy to see. Mortgage rates just crossed 7% for the first time in over a year, capping four straight weeks of increases. My guest is Paul Fitts, senior lending officer at Advantage Lending, and he’s here because he’s been in this business long enough to know that headlines and opportunity are two very different things. If your gut reaction to “7%” is to freeze, this episode is for you — because we’re flipping the script on what this number actually means for you as a buyer.
Let’s be straight about the facts first. The 30-year fixed rate is sitting at its highest level since 2025, and yes, that changes your monthly payment math. But here’s what the panic headlines leave out: a rate spike like this cools demand fast. Fewer buyers can stomach the higher payment, which means the bidding wars, the ten-offers-in-a-weekend chaos, and the waived-inspection desperation of the last few years start to fade. Paul sees this from the inside — loan officers watch buyer traffic in real time, and right now it’s thinning out. That’s not bad news if you’re the one still standing in the room.
That’s the real opportunity: less competition means more leverage. Sellers who priced their homes expecting a bidding war are now negotiating on price, covering closing costs, and offering rate buydowns just to keep a deal alive. Paul’s going to walk us through exactly how buyers are using that leverage right now — things like 2-1 buydowns, seller credits, and ARM structures that soften the entry point. And here’s the mindset shift I want you to sit with: you marry the house, you date the rate. Rates move. They always have. If you wait for the “perfect” rate, you’re betting against history — because a refinance is a phone call away when rates drop, but the house you love and the equity you start building today don’t wait for anybody.
So tune in as Paul and I break down what a 7% market really means, why it might be the window serious buyers have been waiting for, and how to walk into this market with confidence instead of fear. This isn’t about ignoring reality — it’s about seeing the opportunity everyone else is too scared to look for. That’s what we do here on Real Estate Right Now.
To Reach Paul to discuss your individual situation, email him at: pfitts@advantagelending.com
Linda Cr
aft Team, REALTORS® when you are looking to sell your home or buy a new home for more than 40 years Linda Craft Team, REALTORS® is there to help you!
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Whether you are in the Greater Raleigh Research Triangle Park area of North Carolina or anywhere in the world, they can help you with your home dreams. Contact our friends at the Linda Craft Team at www.LindaCraft.com