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.<\/p>\n
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.<\/p>\n
\u201cIt got more expensive to buy a home, there\u2019s no question about that,\u201d Toole said.<\/p>\n
But Toole said the increase in inventory could provide opportunities for buyers who previously struggled to find a home.<\/p>\n
“There\u2019s almost 20% more homes available on the market. One of the complaints a couple years ago from buyers was, ‘there\u2019s nothing out there,'” Toole said.<\/p>\n
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.<\/p>\n
“Sellers are still in a pretty good spot and the people that are serious are out there looking. We\u2019re still selling homes. Transactions don\u2019t go to zero when rates go up. People still buy and sell,” Toole said.<\/p>\n
While the direction of mortgage rates can be difficult to predict, Toole said buyers may have financing options beyond the traditional 30-year mortgage.<\/p>\n
\u201cI think everyone wants to know what\u2019s happening with rates, and this is something that\u2019s very tough to predict. What I can tell you is there are more programs out there than most people realize,\u201d Toole said.<\/p>\n