spiking mortgage rates make connecticut housing market harder to crack
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By Katie Coen | Published on April 9, 2026
Mortgage rates have spiked in recent weeks, making an already difficult market even harder for buyers in Connecticut.
Realtors say those rates are keeping some buyers on the sidelines and locking others out entirely. The spring real estate market is hot, with high prices and low inventory, but realtors say now is the time to buy even though mortgage rates are increasing.
Hartford County is Zillow’s 2026 hottest housing market. In neighborhoods like West Hartford, a house goes on the market one day and it’s sold the next.
Amarachi Bard owns her house in Newington and said she’s happy about it.
“I’m definitely thankful we own a house right now just because the interest rates are insane. We’re locked in on what we had, and we purchased in December of 2020, so the rates were really low then. Right now, we’re staying there—we’re laying low because there’s literally no way we’d be able to get a house right now,” Bard said.
“There are so many people we know who can’t afford a house right now due to the interest rates and the lack of available houses in price ranges that make sense,” Bard said.
Bard has friends who are looking to buy right now and they are facing a very different situation. Realtors say the spring real estate market is extremely competitive. There are not enough houses for the number of buyers, which is driving up prices.
Mortgage rates continue to climb. They were previously down compared to last year but spiked because of concerns about the economy and higher inflation.
Carl Lantz, former president of Connecticut Realtors, said the housing market is only going to get worse.
“If you find a house, jump at it because prices are very likely going to continue to rise for a while. Getting in now will give you the benefit of those rising prices and the equity you build on the house. It’s ‘date the rate, marry the house.’ Find the house you want, and if you get it, you can always refinance in the future when rates come back down. It’s more important to just get the house today,” Lantz said.
Renters are facing trouble too. Zillow data shows the average rent in Connecticut is $2,000, and it’s going up in most towns and cities.
Between February 2025 and 2026, rent increased 9 percent in East Hartford. In Milford and Middletown, rent rose too. But in Newington and Glastonbury, it actually went down slightly.
Lantz said the slight decreases are due to new construction.
“We have seen a few areas where there’s maybe a little more reconstructed rental property or a few more units opening up. With that, you might see the tiniest dip in demand, but it’s still super competitive out there,” Lantz said.
Jada Appiah is renting an apartment while she’s in school at Central Connecticut State. She’s thankful her house hunting is behind her.
“It took a couple of months. I was looking for a while because the prices are honestly a lot, and you have to find something that includes gas or hot water. It’s definitely a lot,” Appiah said.
She pays $1,400 a month for her one bedroom in New Britain. With prices that high, she sometimes wishes she had a roommate.
“You want to at least move in with somebody or have two sources of income, because I don’t think one source of income is really going to cut it right now,” Appiah said.
Realtors say buying is better for the long term, but if you only plan to stay in one place for a few years, it’s best to rent.