10/09/2026
🏡 Waiting for lower rates could cost you more than buying today. If your waiting for rates to come down to buy, keep reading.
I hear it all the time:
"I'm waiting for rates to come down."
But what if you're focusing on the wrong number?
Today's rates may feel high because we became accustomed to the historically low rates of the last several years. However, over the last 50+ years, mortgage rates around 7% to 8% have actually been much closer to the historical norm.
Even more important than the interest rate is the price you pay for the home.
Right now, many markets are favoring buyers. That means:
✅ Lower home prices
✅ More negotiating power
✅ Seller concessions (Using to buy down the rate)
✅ Less competition (Haven't seen this in years)
For example:
• $400,000 loan at 6.50%
• $365,000 loan at 7.375%
The monthly payment is surprisingly similar.
The difference? You owe $35,000 less.
When the market appreciates, you're building equity from a lower loan balance. And if rates come down in the future, you can refinance the rate.
You can refinance a mortgage rate. You can't refinance the price you paid for the home.
The goal isn't to get the lowest rate in history. The goal is to make the smartest long-term financial decision.
For many buyers, that opportunity is available right now.
"Marry the house, date the rate. The payment may be temporary, but the price you pay is forever." 🔑🏡 See less
