The mortgage rate everybody is watching hit 7% this week. And I know what you're thinking. Mickey, rates went up, that's bad, right? It depends on who you are. Because the same week rates went up, something else happened, and the gap between those two things is where the money is this month.

I'm Mickey Lawrence, a licensed Realtor in Georgia and Texas, host of R.E.N.T. Real Estate News Tonight, covering the Atlanta real estate market and the Houston housing market. This show is not about what the news means for the economy. It's about your payment, your equity, your closing timeline, and your peace of mind.

What are mortgage rates today? The 30 year fixed rate is sitting around 7%, up from 6.7% three weeks ago. On a $400,000 loan, that jump costs about $80 a month. Negotiating $15,000 off the price saves roughly $100 a month, so one seller concession can offset the whole increase.

Why is this a buyer's opportunity? Builders cut the median new home price to $398,300, the lowest in a year. 63 percent of builders are offering incentives, and builder inventory sits at 9.3 months, well above the healthy four to six months.

How do you sell a home at 7% rates? List on the MLS, know your real motivation, and price for reality. A Sunset Avenue listing from my accountability group drew 42 showings and 14 offers, and sold over asking in under seven days.

How do you buy a home at 7% rates? Have a real life event behind your move, get pre approved before you shop, and set a timeline. A $400,000 loan at 7% is about $2,800 a month in principal and interest, before taxes and insurance. Buyers who can close in 14 to 21 days stand out to sellers.

How are real estate investors making money at 7%? Creative financing, including owner financing, rent to own deals, and partnering to split the risk.

How are Atlanta and Houston doing? Atlanta has about 20,000 active listings, a median single family price near $442,500, and homes averaging 21 days on market. Houston sold about 8,300 single family homes in July, up 1.6%, with 5.5 months of inventory and a $340,000 median. Houston townhomes and condos sit at 9.1 months of inventory with a $211,000 median.

Nobody is going to hand you a perfect moment. There's just information and what you do with it. The people who build real wealth in real estate aren't the ones who timed it. They're the ones who understood it and moved.

CHAPTERS
00:00 Cold Opening and Overview
03:24 Selling Your Home at 7% Rates
08:08 Buying a Home at 7% Rates
13:01 Investment Strategies in a High Rate Environment
18:49 Market Brief: Atlanta and Houston

Call or text Mickey Lawrence, licensed Realtor in Georgia and Texas: 770 373 4944

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Educational content only. Not financial, tax, legal, or insurance advice. Rates, inventory, and program terms change, so verify current figures with your lender, insurer, and tax professional before acting. Mickey Lawrence is a licensed real estate agent in Georgia and Texas. Equal Housing Opportunity.