Mortgage Rates Drop Below 6%. What It Means for Buyers in Bucks County and Montgomery County
Quick Summary: What You Need to Know
• 30 year fixed mortgage rates just dipped to around 5.99%, the first time below 6% since 2022
• Lower rates increase buying power and can reduce monthly payments by hundreds of dollars
• More buyers in Doylestown, Lansdale, New Hope, Ambler, and Chalfont may now qualify
• Increased buyer activity could lead to more competition this year
• Shopping multiple lenders can sometimes get you a rate even lower than the average
If you’re financially ready to buy in Bucks County or Montgomery County, this rate shift could be a meaningful opportunity.
For the first time since 2022, the average 30 year fixed mortgage rate has dipped below 6%, landing around 5.99%.
For buyers in Doylestown, New Hope, Chalfont, Lansdale, Ambler, and surrounding areas of Bucks County and Montgomery County, this shift could meaningfully improve affordability and buying power.
Let’s break down what’s happening and what it means locally.
Current Mortgage Rates in 2026
As of this week:
• 30 year fixed mortgage rates are around 5.99%
• 15 year fixed rates are hovering near 5.6%
This is the first time in nearly three and a half years that rates have been in the 5% range.
Even a 1% drop in rate can translate into hundreds of dollars per month in savings depending on price point. In markets like Doylestown or New Hope, where median home prices are higher, the impact can be significant.
Why Are Mortgage Rates Falling?
This change wasn’t caused by one dramatic headline.
Instead, it reflects gradual improvement in the bond market and mortgage backed securities market. When bond yields stabilize or decline, mortgage rates typically follow.
Investors have also been moving toward safer assets amid economic uncertainty, which has supported bond pricing and helped bring borrowing costs down.
This appears to be a steady market adjustment rather than a short term reaction.
What This Means for Buyers in Bucks County and Montgomery County
Lower rates increase affordability.
That means:
• More buyers can qualify for mortgages
• Purchasing power improves
• Monthly payments may decrease
• Some renters may now be able to buy
In areas like Lansdale and Ambler, where first time and move up buyers are active, even small rate shifts can unlock opportunities.
In higher price points such as Doylestown and New Hope, a sub 6% rate can materially impact how much home buyers can comfortably afford.
National housing economists estimate that millions of households may now qualify who previously could not at higher rates. Even if only a fraction enter the market, that could mean increased competition this year.
Will Home Prices Rise Again?
If more buyers re enter the market while inventory remains limited in Bucks County and Montgomery County, we could see:
• Faster days on market
• Multiple offer situations returning in certain price ranges
• Stronger pricing on well presented homes
Markets like Chalfont, Doylestown Borough, Ambler Borough, and walkable sections of Lansdale tend to respond quickly when buyer demand increases.
Waiting for rates to fall further may feel comfortable, but if competition rises, pricing can offset the savings from a slightly lower rate.
Important: A Lower Rate Does Not Always Mean a Lower Payment
Buyers should look beyond the headline number.
Your monthly payment depends on:
• Purchase price
• Property taxes in Bucks County or Montgomery County
• Homeowners insurance
• HOA fees
• Loan structure
• Lender fees and discount points
Two lenders may quote 5.99%, but one may charge significantly higher upfront costs.
Shopping multiple lenders is one of the easiest ways to improve your overall loan terms.
Should You Buy Now in Doylestown, Lansdale, New Hope, Ambler, or Chalfont?
If you are financially ready, have stable income, and plan to stay in the home for several years, a rate under 6% may be a strong opportunity.
If rates fall further, refinancing is often an option.
But if buyer activity increases this spring and summer, competition may rise in desirable neighborhoods across Bucks County and Montgomery County.
Real estate is local. National headlines matter, but hyperlocal inventory and demand drive your actual outcome.
Frequently Asked Questions About Mortgage Rates in 2026
Are rates going back to 3%?
Those historically low pandemic rates were an anomaly. Planning around 5% to 6% as a more normal environment is realistic.
Will rates continue to drop?
No one can predict perfectly. Current trends suggest a relatively stable range rather than dramatic swings.
Is it better to wait?
That depends on your financial situation and local market conditions. In competitive towns like Doylestown or New Hope, waiting could mean higher purchase prices even if rates dip slightly further.
Final Thoughts for Local Buyers
For buyers in Bucks County and Montgomery County, this rate shift is meaningful.
It increases affordability.
It may bring more buyers into the market.
And it creates opportunity for those prepared.
If you’d like to see how today’s rates impact your buying power in Doylestown, Lansdale, Ambler, New Hope, Chalfont, or nearby communities, I’m happy to run personalized numbers for you.
The market is always evolving. The key is understanding how to move strategically when conditions shift in your favor.
