By Lisa Sevajian, Realtor · Published October 17, 2026 · Last updated October 17, 2026 · 8 min read

Is It a Bad Time to Buy a House in Massachusetts or Southern NH With Rates Over 7%?

You'd think waiting for lower rates is the safe move. For a lot of buyers, it isn't.

You've been saving. You've been scrolling. Then you see the headline: rates over 7%. Your stomach drops, and now you're worried you waited too long.

Should you wait? Will you regret buying now? What if rates fall the month after you close? If you're asking all of that at once, you aren't alone. It's one of the questions I hear most right now.

Here's how I walk buyers through it, with real numbers, so you can decide what fits your life. No guessing, and no pressure.

Don't try to time the rate. Choose a payment you can live with, then buy the right house.

Where are mortgage rates right now?

The average 30-year fixed rate was 7.40% the week of October 15, 2026, per Freddie Mac. A year earlier it was 6.27%. The 15-year fixed was 6.71%.

Those are national averages. The rate you get depends on your credit, your down payment, the loan type and the lender. Two buyers can get very different quotes on the same day, so it pays to compare.

How much does a higher rate cost you each month?

On a $500,000 loan, the monthly principal and interest is about $3,462 at 7.40%. At last year's 6.27%, it was about $3,085. That's roughly $377 more a month.

Principal and interest only, 30-year fixed. Taxes, insurance and any condo fee come on top.

That's real money. It's also a number you can plan around once you see it in black and white.

Do buyers have more choices right now?

Yes, in several towns. At the end of September 2026, buyers in Amesbury MA had 22 single family homes to choose from, up from 14 a year earlier. In North Andover MA it was 36, up from 19, per MLS PIN.

More choices means more time to think, and sometimes more room to ask for things. It doesn't mean every house is a bargain. In Haverhill MA, about 68% of homes still sold above the asking price from July to September. The right house can still draw a crowd.

Should you wait for rates to drop?

Only if waiting fits your life. No one knows where rates will go next, and I won't pretend to.

Here's what I ask buyers to think about. If rates drop, more buyers usually come back, and competition can pick up. If rates rise, waiting costs more. If your life needs the move now, a new baby, a new job, a lease ending, the house you buy matters more than the month you buy it.

You may be able to refinance later if rates fall and you qualify. That isn't a promise, and it has costs. So buy a payment you're fine with today, and treat a lower rate later as a bonus.

How can you lower your payment when rates are high?

There are a few honest options to talk through with your lender:

• Seller credits: money the seller agrees to give at closing. It can often go toward your closing costs or to buy down your rate.
• A rate buydown: paying up front, often with points, to lower your rate. Some are permanent. Some, like a 2-1 buydown, lower it for the first two years only.
• Shopping lenders: getting quotes from more than one lender on the same day.
• A different loan type: an adjustable rate starts lower but can change later, so it fits only some plans.

In a market with more choices, asking for seller credits is a fair part of the negotiation. Buying, I make sure you don't overpay, and that includes the terms, not just the price.

Is it different if you're buying in Southern NH?

The rate is the same on both sides of the border. The rest of the budget isn't. New Hampshire doesn't tax wages, so take-home pay can stretch further. Property taxes, heating and home systems vary town by town on each side.

If you're torn between a house in Amesbury MA and one in Salem NH, put the full monthly cost side by side, not just the price. My MA vs NH comparison walks through it.

So, is now a good time for you?

If you've been searching "is it a bad time to buy a house with rates this high," here's my honest answer. It's a good time if the payment fits your life, you plan to stay a while, and you find a house you're proud of.

It's a fine time to wait if your budget isn't ready or your plans might change. Either way, knowing your numbers turns a scary headline into a clear choice.

This is general information, not legal, tax or lending advice. Check with your attorney, lender and CPA before you decide.

I'll guide you home.

Lisa Sevajian