Thinking Of Making A Move But Waiting For Rates To Drop?

July 2, 2026

Here's something to think about:

Over my 28 year career I've seen plenty of swings in the Real Estate market, and when rates are on the high side, as they are now (though historically speaking actually nowhere near what they have been, or where they could be going) I get a variation of the same question:

"David.. we would like to buy, but we're waiting for interest rates to come down..."

My response over the years tends to be pretty much the same-waiting isn't a strategy, it's a bet! None of us knows exactly where mortgage rates are headed, and making one of the biggest financial decisions of your life based on a prediction can end up costing you more than you expect.

Here's what I do know. Right now buyers have something they haven't had in quite a while... LEVERAGE, AND LOTS OF IT! There are more homes to choose from, sellers are negotiating, and I'm seeing more opportunities for closing cost assistance, repair credits, and even interest rate buydowns. If rates eventually fall, more buyers are likely to jump back into the market, competition heats up, and many of those advantages disappear.

When you're deciding whether to buy now or wait, I encourage my clients to think about three things. First, don't focus only on the interest rate. One of my favorite sayings is 'date the rate, marry the house!' Compare what you'll spend on another year of rent, if you're renting, versus how much equity you could build by owning. Second, think about what today's negotiating power is worth. Saving thousands or more with a reduced price, seller concessions and rate buy downs today would likely outweigh waiting for a slightly lower rate tomorrow. And finally, ask yourself this question: How much would rates actually have to drop for waiting to truly pay off? Once we run the numbers, many buyers are surprised by the answer.

All that being said, there could be a myriad of other factors holding you back. That's why my door is always open! This is what I love to do - SOLVE PROBLEMS!

If the timing truly isn't right, I won't convince you to buy today. But we should always have the conversation so that you can fully understand the tradeoffs, look at the real numbers, and make the decision that's best for you and your family.