Buyers Define the Ideal Mortgage Rate

Bassyonni

Published: February 10, 2026 3:53 AM ET

In a recent survey conducted by Clever Real Estate, prospective buyers expressed their views regarding the ideal mortgage rate. The findings reveal that a significant majority are eager for rates to drop below 6% to proceed with their buying plans.

Ideal Mortgage Rate Expectations

According to the survey, nearly all potential buyers would adjust their plans if 30-year mortgage rates remain above 6%. A notable 37% of respondents consider rates below 4% as “good.” This sentiment underscores buyer expectations in an environment where mortgage rates are anticipated to stabilize or slightly decline.

Current Trends in Mortgage Rates

Mortgage rates have gradually decreased from 7.79% in October 2023 to approximately 6% in January 2024.
Experts predict that the 30-year fixed-rate mortgage will stay between 6% and 6.5% for the foreseeable future.
A staggering 94% of buyers would alter their plans if rates do not drop below 6%.

Survey Insights on Buyer Sentiment

Despite expectations for lower rates, a significant portion of buyers may be holding unrealistic views. Around two-thirds anticipate current mortgage rates to be under 6%, with 25% aiming for rates not observed since the Great Recession.

Interestingly, less than half of the respondents recognized expert forecasts, which suggest rates will likely hover between 5% and 7% through 2026.

Challenges Faced by Buyers

Many potential buyers feel that current mortgage rates are inhibiting their ability to own homes.
A third remain uncertain about qualifying for a mortgage.
Approximately 14% believe that they will only secure rates at or above 7%.

These conditions have led some buyers to consider alternative solutions, such as 50-year mortgages. Nearly one in three respondents expressed openness to this option, with 38% stating that lower monthly payments could make homeownership feasible.

The Role of Economic Factors

Buyer expectations are also influenced by perceived connections to the Federal Reserve’s funds rate. However, factors such as economic conditions, inflation, and labor market dynamics also significantly impact mortgage rates. John Donikian, a financial branch manager, highlighted the importance of bond market sentiment as a key indicator affecting buyer expectations.

Conclusion

As the 2026 housing market looms, most experts do not foresee significant changes in mortgage rates. While buyers are hopeful for a reduction below 6%, economic indicators suggest that a range of 6% to 6.5% may persist. Overall, understanding these trends is crucial for potential buyers contemplating homeownership in this uncertain financial climate.