Are Mortgage Rates Going Down in 2026?

Where mortgage rates stand today

So far in 2026, mortgage rates have remained relatively steady in the mid to low 6 percent range for most qualified borrowers. While there have been short term fluctuations up and down, we have not seen a sustained downward trend. Instead, rates have been reacting to ongoing inflation concerns, economic uncertainty, and broader financial market conditions.

For buyers in markets like Downers Grove and the surrounding DuPage County suburbs, this means affordability is still being heavily influenced by interest rates, even as local home prices remain strong and competitive.

Will rates actually come down in 2026?

Most housing and financial forecasts suggest that if mortgage rates do decline in 2026, it will likely be gradual rather than dramatic. Some projections show the possibility of rates easing slightly into the low 6 percent range or potentially dipping just below 6 percent if inflation cools and economic conditions stabilize. However, there is no strong consensus that we will see a return to the historically low rates many buyers became accustomed to in recent years.

In fact, many economists expect rates to remain relatively “sticky,” meaning they may hover in a similar range for an extended period rather than dropping sharply.

Why waiting for lower rates can be risky

A common strategy buyers consider is waiting on the sidelines for rates to come down before making a move. While that may sound logical, it is important to consider the full picture.

In many cases, home prices continue to rise even when rates are high, especially in desirable suburban markets like Downers Grove. This means that even if rates improve slightly in the future, higher purchase prices could offset any savings in monthly payments. Additionally, increased competition from other buyers who have been waiting could make it harder to secure the right home when rates eventually do move lower.

The result is that timing both rates and prices perfectly is extremely difficult, even for experienced market professionals.

What this means for buyers in Downers Grove and DuPage County

The key takeaway is that opportunity in the market is not only about interest rates. It is about inventory, pricing, negotiation power, and your personal financial readiness.

Right now, many buyers in Downers Grove are benefiting from a more balanced environment compared to the ultra competitive market conditions of recent years. There is more room for negotiation in some cases, and sellers are increasingly willing to consider concessions depending on the property and price point.

For some buyers, this can offset the impact of higher rates more effectively than waiting for future rate drops.

The bottom line

Mortgage rates in 2026 are expected to remain relatively stable with the potential for modest improvement, but a dramatic drop is unlikely based on current economic forecasts. For buyers and sellers in Downers Grove and DuPage County, the most effective strategy is to focus on the full market picture rather than trying to time rates alone.

At Wenzel Select Properties, we help clients understand how interest rates, pricing, and local market conditions all work together so they can make confident, informed decisions about when to buy or sell.