It’s hard to let go of a 3% mortgage rate. It’s the main reason why so many homeowners have delayed their move in recent years. But here’s something to consider.

While your low rate might be ideal, it doesn’t make up for being too cramped, having a staircase your knees can’t handle anymore, or being 1,000 miles from your family. Those real-life needs are pushing more sellers off the fence despite today’s rates.

Data shows the share of homeowners with a mortgage rate below 3% is dropping as more people move. And, as a result, the share of homeowners taking on a mortgage rate above 6% is rising, too.

The Biggest Reasons People Are Moving Right Now

79% of homeowners considering selling today are doing it out of necessity. Most of the necessary reasons people are moving are non-financial in nature.

Do any of these reasons resonate for you, too?

• You Need More Space: Whether it’s a new baby, children needing their own rooms, or having your parents move in so it’s easier to take care of them, outgrowing your space can happen fast.

• You Need Less Space: The kids are out of the house now and you’re craving a life that’s a little simpler. Downsizing can be a major relief: fewer rooms to clean, less to maintain, and lower utility bills, too.

• You Want to Be Closer to Family: Whether it’s to help with grandchildren or care for aging parents, sometimes the pull of being near loved ones outweighs the math.

• Your Job Is Taking You Somewhere New: If you finally landed your dream job or your partner’s company is relocating, you may need to move too.

It’s hard to let go of a 3% mortgage rate. It’s the main reason why so many homeowners have delayed their move in recent years. But here’s something to consider.

While your low rate might be ideal, it doesn’t make up for being too cramped, having a staircase your knees can’t handle anymore, or being 1,000 miles from your family. Those real-life needs are pushing more sellers off the fence despite today’s rates.

Data shows the share of homeowners with a mortgage rate below 3% is dropping as more people move. And, as a result, the share of homeowners taking on a mortgage rate above 6% is rising, too.

The Biggest Reasons People Are Moving Right Now

79% of homeowners considering selling today are doing it out of necessity. Most of the necessary reasons people are moving are non-financial in nature.

Do any of these reasons resonate for you, too?

• You Need More Space: Whether it’s a new baby, children needing their own rooms, or having your parents move in so it’s easier to take care of them, outgrowing your space can happen fast.

• You Need Less Space: The kids are out of the house now and you’re craving a life that’s a little simpler. Downsizing can be a major relief: fewer rooms to clean, less to maintain, and lower utility bills, too.

• You Want to Be Closer to Family: Whether it’s to help with grandchildren or care for aging parents, sometimes the pull of being near loved ones outweighs the math.

• Your Job Is Taking You Somewhere New: If you finally landed your dream job or your partner’s company is relocating, you may need to move too.