A question I hear a lot: should I wait until rates drop before I buy? The short answer: maybe — but maybe not.
Rates have eased a bit. The 30-year fixed mortgage recently ticked down to 6.23 percent — its lowest in months. AP News+1
Some forecasts expect rates to hover around 6.4 percent through early 2026. Forbes+1
Economists even suggest rates could dip below 6 percent sometime in 2026. MIDFLORIDA Credit Union+1
So why not wait? Because when rates drop, volume goes up — and competition rises. Inventory may tighten again. Prices could climb back up. What looks like a cheaper mortgage could end up as a more expensive house.
Here is how I help clients decide:
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Focus on monthly payment, not just rate. Ask: can you afford the payment if rates stay where they are or go slightly up.
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Think about how long you plan to stay. If you plan to be in the home for five to seven years, a refinance later could make sense.
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Look at current pricing. Waiting might save you a little on rate — but not if home prices rise faster than rate drops.
Sometimes waiting is the smart move. Other times acting now gives you a head start while still leaving room to refinance later.
Want to look at both paths — buy now or wait — for your situation. Send me a message on the site and I’ll help you compare.
