Mortgage rates near 7.4% drive seller concessions in US market
Business
With mortgage rates stuck around 7.4%, buying a home in the US has gotten tougher, and sellers are feeling it.
To help buyers out (and get their homes sold), more than 45% of all home sales in September 2026 included seller concessions, some of which, especially mortgage rate buydowns, can lower monthly payments.
Sellers cut prices, cover closing costs
Sellers aren't just lowering interest rates: they're also dropping prices, with about 22% cutting their asking price recently.
In some places such as Austin and Denver, sellers are even covering closing costs or tossing in other perks to seal the deal.
It's all about making homes more affordable and keeping things moving in today's slower market.