Housing Market Under Pressure as Mortgage Rates Keep Climbing

September 20, 2026 - 04:47

Rising mortgage rates are putting new strain on the housing market, according to real estate expert Tony Giordano. In a recent television interview, Giordano said the jump in borrowing costs is reshaping the decisions of both buyers and sellers across the country.

Mortgage rates have moved sharply higher in recent months, pushing monthly payments beyond what many households had planned for. Giordano noted that affordability is now the central issue. Buyers who were preapproved at lower rates are finding their budgets squeezed, while some sellers are holding back because they do not want to give up the low rates they locked in years ago.

For buyers, Giordano advised staying realistic about what they can afford and getting preapproved before shopping. He also suggested looking at homes that have lingered on the market, since sellers in that position may be more willing to negotiate on price or closing costs. For sellers, he said pricing the home correctly from the start matters more than ever. Overpricing in a high rate environment can leave a property sitting for weeks while interest from buyers fades.

Giordano added that the market is not collapsing, but it is cooling. He expects activity to remain uneven, with well priced homes still drawing offers and overpriced listings struggling. His advice to both sides was simple: work with a professional, understand the numbers, and be prepared to adjust.