Interest rates have fallen to 6.17%, the lowest since October 2024, but the rates remain considerably higher than post-pandemic levels, when they reached below 3%.

Jake Skorheim and Spike O’Neil, hosts of “The Jake and Spike Show” on KIRO Newsradio, detailed the potential “housing freeze” on the market that is caused by raised interest rates and homeowners being less likely to move due to immediate monthly payment increases if they were to secure a current interest rate.

“Sometimes in life you just get lucky when you’re buying a house, and my wife and I were one of those people who bought at a time when interest rates were historically low,” Jake said. “Now you’re seeing basically a freeze in the housing market. Even though the rates are dropping slightly, people are not willing to sell their homes, get out of a favorable 3-or 4% interest rate, and basically double their monthly payment.”

Spike explained how he is inadvertently participating in the housing freeze, even though his family wishes to downsize to a new home, but higher interest rates have contributed to the decision to stay at home.

“To your point about being frozen, you know, we’d love to downsize because the maintenance is a lot on our 3,800-square-foot home, it’s a lot of space,” Spike said. “We’d love to downsize, but we’re locked in on a pretty great interest rate for our home. We’ve been there a little over 20 years now.”

Watch the full discussion in the video above.

Listen to “The Jake and Spike Show” weekdays from noon to 3 p.m. on KIRO Newsradio 97.3 FM. Subscribe to the podcast here.

The Orlando Pride’s title defense starts now.

SEATTLE — Seattle Public School’s incoming superintendent is addressing how he plans to tackle the school district’s massive budget shortfall.

RELATED | Seattle Public Schools names Ben Shuldiner superintendent finalist after nationwide search

Finalist Ben Shuldiner is a former teacher, principal, professor, and school board director, and already has a lot of love for Seattle and the Pacific Northwest.

“This entire community has just rallied around this process. They’ve been so wonderful and warm,” Shuldiner told KOMO’s Jackie Kent in a one-on-one interview on Thursday.

A day after the school board unanimously voted for him to take over in 2026, parents like Erin Combs said they’re “cautiously optimistic” for what’s ahead.

“Her school has had a lot of teacher shuffles; they’ve lost staffing because of what’s happened with enrollment and waitlists,” Combs said about her daughter’s experience at Thornton Creek Elementary School.

This change in leadership comes as SPS faces troubles with enrollment, safety, student learning outcomes, and an estimated $87 million budget shortfall.

Ian Coon is with the Alliance for Education, the longtime local education fund for SPS.

“Conversations have been around cutting budgets, cutting staff, raising funds, and advocating for more money from Olympia. I think there’s going to be a lot of things that need to change,” Coon added.

Shuldiner has served as superintendent in Lansing, Michigan, since 2021 and said he’s ready to work in a district five times the size.

“What I’ve seen in Seattle in the time I’ve been here is incredible teachers and principals and families and children who all want what’s best for our students, and I just think with the right systems and structures we’ll be able to move mountains relatively quickly,” Shuldiner said.

An image of Ben Shuldiner, who was named the Seattle Public Schools’ new superintendent. (KOMO News)

SPS estimates he helped boost the Lansing graduation rate by 26%, attendance by 15%, and enrollment spiked for the first time in decades.

SPS has also touted that Shuldiner increased the Lansing School District’s “fund balance by more than $40 million, creating financial stability and growth.”

“I think what you have is a concerning budget issue, no question about it, but there’s a lot of ways to build efficiencies,” Shuldiner told KOMO about addressing the SPS budget. “I’ve gone through the budget quite often. There’s a lot of departments and I think with that you have redundancies.”

All in all, there’s a sense of hope.

“There’s a lot of trust that needs to be rebuilt,” Combs added.

KOMO News reached out to the Lansing School Board president for more on Shuldiner’s history with the district, and was still waiting to hear back as of Thursday evening.

Shuldiner’s SPS contract is still being negotiated, but he said he plans to make Seattle his permanent home and to retire from Seattle schools.