Should You Sell Even If You Love Your Mortgage Rate?

You're sitting on a great mortgage rate, but your home no longer fits. What now?

This is one of the most common dilemmas I hear from homeowners in Sioux Falls and Harrisburg right now. You are locked in a super low mortgage rate and feel lucky to have it. But lately, you’ve been feeling the pull. Maybe you need more space. Maybe your layout no longer works. Maybe your dream home is finally on the market.

But with today’s higher rates, making a move feels risky. So the question becomes: should you stay for the rate, or sell for the life you want?

Let’s talk it through.

First, look at what you’re gaining

Yes, a low interest rate is valuable. But what is it costing you to stay in a home that no longer serves you?

Maybe your kitchen drives you nuts. Maybe you need a home office, more bedrooms, or less yard. Your interest rate matters, but so does your everyday quality of life. If you’re constantly working around your home instead of enjoying it, it might be time to shift the conversation from “rate” to “reality.”

Your next home could build more value

It’s easy to focus on the cost of a higher rate. But what if your next home appreciates faster because of location, layout, or condition?

I’ve worked with sellers who traded at a low rate for a better property that will grow in value more quickly over time. Even if your monthly payment goes up, the long-term equity potential can still be a win.

There are creative ways to bridge the rate gap

There are strategies to ease the sting of today’s rates. For example:

• Some sellers are offering rate buydowns or concessions
• You might qualify for a temporary rate reduction program
• If you plan to refinance later, your current loan is just a short-term step
  
  

Don’t assume you’re stuck. Let’s look at the real numbers and run the scenarios.

Life doesn’t always wait for rates to drop

If the perfect home becomes available and you’re financially ready to upgrade, waiting might mean missing the opportunity entirely. Real estate decisions are about more than math. They’re about timing, lifestyle, and personal goals.

Final takeaway

If you're feeling torn between your current rate and your future plans, you're not alone. The right move isn't always obvious, but it starts with a conversation.

Let’s look at your equity, explore your options, and build a strategy that keeps your finances strong and your life moving forward.