Rates Back Above 7%: What It Means for North Fulton This Winter

If you've been keeping an eye on mortgage rates this fall, you've noticed the jump. After spending most of the summer in the mid-6% range, the 30-year fixed rate climbed back above 7% in late September for the first time since January 2025. By mid-October, Freddie Mac's weekly survey had it at 7.40%, roughly a full point higher than this time last year.

The reason has less to do with the Federal Reserve and more to do with the bond market. Inflation worries pushed the 10-year Treasury yield above 5% this fall, and mortgage rates followed. Most forecasters, including the Mortgage Bankers Association and Fannie Mae, expect rates to hover near 7% for the rest of the year.

What it means here in North Fulton

Our market has cooled, but it hasn't stalled. In Alpharetta, the median sale price is holding at about $705,000, essentially flat from a year ago. There's roughly five months of inventory, which puts us in balanced territory, and the typical home is still going under contract in about a month. Well-priced homes in great condition continue to sell.

If you're buying

Higher rates mean less competition. With fewer buyers out shopping, sellers are more open to negotiating on price, repairs, and closing costs. One of the most effective tools right now is a seller-paid rate buydown, which lowers your monthly payment from day one. And if rates ease next year, refinancing is always an option. Be sure to compare more than one lender, since the best rates go to borrowers with strong credit.

If you're selling

Today's buyers are serious, but they're payment-sensitive. Pricing correctly from the start matters more than ever. Offering a credit toward a rate buydown can attract more buyers than a price reduction of the same amount, because it changes what they actually pay each month.

A quick note on property taxes

Fulton County's 2026 property tax bills went out as temporary bills based on last year's millage rates, because the county's tax digest was delayed. Once the digest is finalized, some homeowners may receive an adjusted bill, and anyone who overpaid will be refunded with interest. Keep an eye on your mail.

Sources: Freddie Mac Primary Mortgage Market Survey; Bankrate; Fulton County Tax Commissioner; local MLS market data.