Interest rates have fallen to 6.17%, the lowest since October 2024, but the rates remain considerably higher than post-pandemic levels, when they reached below 3%.

Jake Skorheim and Spike O’Neil, hosts of “The Jake and Spike Show” on KIRO Newsradio, detailed the potential “housing freeze” on the market that is caused by raised interest rates and homeowners being less likely to move due to immediate monthly payment increases if they were to secure a current interest rate.

“Sometimes in life you just get lucky when you’re buying a house, and my wife and I were one of those people who bought at a time when interest rates were historically low,” Jake said. “Now you’re seeing basically a freeze in the housing market. Even though the rates are dropping slightly, people are not willing to sel

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