What’s going on with interest rates in Reno and Sparks?

Mortgage interest rates have seen another round of turbulence — and it’s leaving many buyers and sellers in Northern Nevada asking: “Should I act now or wait?” In this post, we’ll explain what’s driving today’s rate shifts, what it means for local homeowners, and how to make smart moves in a changing market.

Fed Cuts, Rates Rise? Understanding the Confusion

Last week, the Federal Reserve cut rates by 0.25%. Naturally, many expected mortgage rates to drop as a result. But instead, they jumped up by about 0.20–0.25% in the following 48 hours. Why?

Mortgage rates are more about expectations than actions.
Markets had already “priced in” the Fed’s decision, so the actual cut triggered shifts in inflation outlooks, bond supply, and long-term Treasury yields — all of which nudged mortgage rates higher, not lower.

So, Where Are Rates Right Now?

Based on insights from Mark Graham at Sanctuary Funding, as of September 22, 2025, here's where things stand for qualified borrowers:

👉 Sanctuary Funding offers lower rates and significantly reduced fees — up to 2 points in savings. Reach out for more info.

How This Affects Reno & Sparks Homeowners

While national trends help set the tone, local dynamics tell the real story:

• Buyer Activity in Reno: Demand remains steady but selective. Buyers are more cautious — especially those sensitive to even small interest rate changes.

• Sellers in Sparks: Sellers with well-priced homes in desirable neighborhoods (like Spanish Springs, D’Andrea, or Wingfield Springs) are still seeing strong interest.

• Homebuilders & Developers: Slightly lower financing costs are helping new builds move forward — good news for inventory.

Is It Still a Good Time to Buy or Sell?

Yes — if you're prepared.

Rates aren’t at pandemic-era lows, but they’re much lower than the highs of 2023 and early 2024. Plus, there are more tools to make deals work:

🔑 Buyer Leverage Is Back

• Seller-paid rate buy-downs are common again.

• You can ask for closing cost credits or flexible timelines.

• More sellers are open to negotiation.

📉 Rates Are Expected to Trend Lower

While no one can predict the future, economists and analysts (including PIMCO and the NAHB) believe the Fed may cut rates again if inflation continues to ease and the labor market softens.

Real Talk: The Market Rewards the Ready

We’re seeing more volatility than usual. That means quick movers and well-informed clients win — especially when paired with the right local advisors.

Whether you’re thinking about a new home, investment property, or refinancing — this is the moment to get clear on your numbers and explore your options.

Your Next Steps

Here’s what we recommend:

1. Buyers – Get pre-approved or updated approval letters now. Ask about rate-lock options and seller-paid buy-downs.

2. Sellers – Use updated pricing strategies. Consider pre-inspections and flexible terms to attract motivated buyers.

3. Everyone – Get a second opinion on rates, loan costs, and local conditions. Small rate changes can mean thousands in savings.

📍Why This Matters More in Reno & Sparks

Reno and Sparks are unique markets — blending growth, affordability (relative to CA), and lifestyle. But we’re also tied to national interest rate cycles. With median home prices rising and inventory still tight, every fraction of a percent in interest matters.

🏡 On a $500,000 loan, a 0.375% rate difference could mean $102/month in savings — or over $34,000 in interest over the life of the loan.

Let’s Talk Before You Make Your Move

There’s no one-size-fits-all answer — and that’s where we come in.

We help Reno-Sparks buyers and sellers make smarter moves, even in tricky markets. Want a second opinion on your options? Just reach out.

📞 Kinney and Renwick Team • Chase International
📧 [email protected]
📱 (775) 391-8402
🌐 kinneyandrenwickteam.com
License #'s: S067935 | BS0141620 | S197254