Why Grand Rapids Buyers Shouldn’t Fear 6% Interest Rates

A lot of Grand Rapids homebuyers are worried about interest rates right now. After years of historically low rates in 2020 and 2021, a 6% increase might feel like a significant jump. But the truth is, rates today are much better than most people think.

If you look at historical averages, 6% is actually below the long-term norm. In fact, for most of the past 50 years, mortgage rates have hovered around 7% to 8%. What we’re seeing today isn’t high but just something normal. And if you wait too long, hoping for something lower, you could end up paying more in the long run.

Today, I’ll walk you through the real numbers, how affordability in Grand Rapids compares to just a few years ago, and why this current market may offer more opportunity than meets the eye.

For the full story on today’s Grand Rapids market and why 6% isn’t a reason to panic, watch the video above or use the timestamps below to skip to the parts that interest you most:

00:00 – Intro

00:20 – Meet Kevin Yoder and market overview

01:03 – What are interest rates doing in 2025?

01:22 – Are today’s rates really that high?

01:46 – How do current rates compare to history?

02:13 – Why 6 % may actually be a deal

02:40 – What buyers forget about 2021

03:22 – Affordability then vs now

04:07 – How perception affects buyer behavior

04:32 – What a $300K home looks like in today’s market

05:07 – Why buyers are overestimating payment impact

05:32 – How equity and wealth are still being built

06:07 – What’s happening with days on market

06:32 – The truth about “bad” or “good” markets

07:00 – A shift into a balanced market

07:44 – How this market helps buyers and sellers

08:12 – The risk of waiting too long

09:11 – What to expect in the next 6 months

09:40 – Resetting unrealistic expectations

10:46 – How to stop letting fear drive decisions

11:22 – Final advice for Grand Rapids buyers

If you’re thinking about buying in Grand Rapids or just want help understanding the numbers, feel free to call or text me at 616-741-3582 or email me at kevin@soldbyyoder.com. I’d be happy to walk you through your options, answer your questions, and help you make a smart move in today’s market.