Mortgage Rates Are Sitting Near a 12-Month High — Here's Why Central Ohio Buyers Still Have Leverage

If you're waiting for mortgage rates to make your decision easier, the latest numbers are worth a look. Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed rate at 6.66% for the week of August 27, 2026 — essentially flat week over week, and sitting near its highest level in the past 12 months. Freddie Mac's own chief economist, Sam Khater, described the week as rates changing little, even as the broader economy remains resilient.

It would be easy to read a 12-month-high headline and conclude this is a bad time to buy in Central Ohio. The local data tells a more useful story.

Rates Are Elevated, But the Market Is Quietly Rebalancing

Khater's own read on the national market is that more homes coming onto the market, paired with slower price growth in many areas, is giving buyers better options and helping create a more balanced housing market. Central Ohio is a clear example of exactly that dynamic. July's regional inventory hit 6,193 homes — the highest July level in over a decade — while the median sales price grew a modest 2.3% year over year to $350,000.

• 30-year fixed averaged 6.66% the week of August 27, 2026 — near a 12-month high, but essentially unchanged week over week
• Regional inventory at a decade-high 6,193 homes gives buyers real room to compare and negotiate
• Median sales price growth of 2.3% year over year is measured, not runaway — payments aren't chasing a moving target
• 2.4 months of supply still favors sellers overall, but is a meaningful step toward balance versus prior years

Why Waiting for a Rate Drop Isn't a Strategy on Its Own

Rates have moved in a narrow band for weeks now — 6.69%, then 6.67%, then 6.65%, then back up to 6.66% — without a clear downward trend to bank on. Meanwhile, every month that inventory keeps building gives buyers more homes to choose from and more room to negotiate on price, closing costs, or repairs. A buyer who waits for a rate drop that hasn't materialized yet is also waiting through a period where local supply is unusually favorable. Refinancing is always an option if rates do eventually fall — the home you love that's sitting on the market right now may not be.



Bottom Line

Rates near a 12-month high aren't ideal, but they're stable, and Central Ohio's decade-high inventory is giving buyers real negotiating leverage. The two together may matter more to your bottom line than waiting on a rate that has barely moved in weeks.

Margaret Lipp | REMAX Premier Choice

Serving Upper Arlington, Dublin, Worthington, Clintonville, Hilliard, Powell, Grandview, and all Central Ohio communities

Source: Columbus REALTORS® Central Ohio Housing Report, July 2026, based on data from the Columbus & Central Ohio Regional MLS. Mortgage rate data from Freddie Mac's Primary Mortgage Market Survey. Market data is a snapshot in time and subject to change.