Good news: Fannie Mae and Freddie Mac are buying more mortgage-backed securities, which should help put downward pressure on rates.

With the Fed meeting next week, the talking heads on financial shows are out in force, warning that if rates don’t hold, home values might increase and “erase the rate benefit.”

Sure, that’s a point worth considering. But what about the millions of borrowers currently stuck with high interest rates who would gladly trade a slight home value bump for a meaningfully lower monthly payment?

And what about homeowners who locked in ultra-low rates in 2020? Many would like to move, but only if the rate change is reasonable. Mobility matters too.

Lower rates don’t just move markets, they move people.