Mortgage rates have climbed to a 52-week high, making it more expensive to buy a home, but Philadelphia-area buyers are also seeing more homes available on the market.

The 30-year fixed mortgage rate is now a little above 7.5%. At the same time, housing inventory was up 17.8% for the week ending Sept. 27, 2026, according to data compiled for NBC10 by Tom Toole of the Tom Toole Sales Group at RE/MAX Main Line.

“It got more expensive to buy a home, there’s no question about that,” Toole said.

But Toole said the increase in inventory could provide opportunities for buyers who previously struggled to find a home.

“There’s almost 20% more homes available on the market. One of the complaints a couple years ago from buyers was, ‘there’s nothing out there,'” Toole said.

Homes selling in the Philadelphia suburbs are staying on the market for an average of 22 days, according to Toole’s data. In Philadelphia, homes are staying on the market for about two months.

“Sellers are still in a pretty good spot and the people that are serious are out there looking. We’re still selling homes. Transactions don’t go to zero when rates go up. People still buy and sell,” Toole said.

While the direction of mortgage rates can be difficult to predict, Toole said buyers may have financing options beyond the traditional 30-year mortgage.

“I think everyone wants to know what’s happening with rates, and this is something that’s very tough to predict. What I can tell you is there are more programs out there than most people realize,” Toole said.

Federal Housing Administration loans may offer lower interest rates than a traditional 30-year loan for lower-income borrowers. People looking to buy in Philadelphia may also qualify for the K-FIT program, a forgivable second loan.

Toole said his group surveyed three lenders that have done significant business with its clients.

“We surveyed three lenders that have done a good amount of business with our clients and over the summer months they beat the 30-year quoted rate that everyone’s seeing right now by two-tenths of a percent on all the loans they closed in June and July. So, there are options out there,” Toole said.

Many experts suggest mortgage rate relief may not come until the conflict between the U.S. and Iran is over. In the meantime, Toole suggests homebuyers focus on finding a home with a monthly payment they can afford rather than focusing solely on the mortgage rate.

This story was originally reported for broadcast by NBC Philadelphia. AI tools helped convert the story to a digital article, and an NBC Philadelphia journalist edited the article for publication.