The two-part challenge for people renewing mortgages in 2025 - higher mortgage rates and lower home values

Veteran mortgage broker Tuli Parubets likes to send her clients e-mails showing how their home is rising in value.

This year, she’s taking a break. “I have not been sending them out because I don’t want to scare people,” she said.

It’s been widely reported that roughly 1.2 million people will renew mortgages this year at rates that will be much higher for the most part. Less understood is the fact that these renewers bought around the time the real estate market was peaking. Prices have come down since then on a national average basis, and rebounds have been inconsistent.