Letting go of a 3% mortgage rate isn’t easy — we get it. It’s been one of the main reasons many homeowners have stayed put over the past few years. But as life changes, so do housing needs — and that’s prompting more people to take the leap and move forward, even with today’s higher rates.

Sure, locking in that low mortgage rate was a smart financial move. But for many, it’s no longer worth compromising comfort, convenience, or quality of life. Being stuck in a space that’s too tight, difficult to navigate, or too far from loved ones takes a toll. That’s why more sellers are deciding to prioritize their needs over numbers.

Recent data shows that the number of homeowners with mortgage rates below 3% is gradually decreasing, while those taking on rates above 6% are on the rise (see graph below). That shift indicates that more people are choosing to move forward with their lives instead of waiting for rates to drop significantly.

The Biggest Reasons People Are Moving Right Now

What’s motivating homeowners to make a move despite higher rates? A recent survey from Realtor.com offers some insight. It reveals that 79% of homeowners considering selling today are doing so out of necessity. And the majority of those reasons aren’t financial — they’re personal and lifestyle-driven (see graph below).

Here are the top reasons homeowners are making the move:

You Need More Space: Whether it’s due to a growing family, kids needing their own rooms, or parents moving in, many households simply outgrow their current space. A more spacious home can make everyday life feel easier and more organized.

You Need Less Space: On the flip side, if the kids have moved out and the house feels too big to manage, downsizing can bring peace of mind. Less space often means less upkeep, fewer expenses, and a more manageable lifestyle.

You Want to Be Closer to Family: Whether it’s to help raise grandchildren, take care of aging parents, or just be near loved ones, emotional proximity often outweighs financial considerations.

A Relationship in Your Life Has Changed: Life transitions — such as divorce, separation, or blending families — often spark the need for a new beginning and a new place to call home.

Your Job Is Taking You Somewhere New: Career changes, promotions, or relocations can all prompt a move. When opportunity knocks, it may be time to pack up and follow it.

What About Mortgage Rates?

Yes, mortgage rates are expected to drop — but slowly and steadily. Current expert projections suggest only slight declines over the coming months, and a return to 3% isn’t on the immediate horizon (see graph below).

That means waiting for a significant drop in rates could leave you stuck in a home that no longer serves your needs. For many, that wait has already lasted long enough. According to Realtor.com, nearly two in three potential sellers have been thinking about moving for over a year.

If you’re part of that group, it might be time to ask yourself a powerful question:

How much longer are you willing to put your life on hold?

Bottom Line

Your current home may have been perfect a few years ago, but what worked in 2020 may not align with your life in 2025. And that’s perfectly normal. Life evolves — and your home should evolve with it.

While mortgage rates are certainly a factor, they shouldn’t be the only one. The real question is: what kind of home do you need to support the life you’re living now?

If you’re thinking about making a move but aren't sure where to start, reach out to Mike Panza and the team at Panza Home Group. They’re here to help you navigate your options and find a home that fits your current lifestyle. For more information, visit: https://panzarealestate.com/team/mike-panza