10/21/2025
I remember posting this in 2022 and people hating on it because they were trying to use this idea (rates will come down in the short term, marry the house date the rate) to still interest buyers when rates hit 7%-8% up from the 2%-3% range with the intention of refinancing quickly down the road when rates dropped.
Well, rates have not dropped anywhere close to that in the past 3 years and daily many past clients and other industry professionals reach out asking about rates and if they have dropped low enough to refinance because their payment is crushing them.
The lesson here is to still buy a home but without the idea of thinking in the short term the payment will undoubtedly go down when rates come down. Unfortunately, where rates will go are impossible to determine so buying with a comfortable monthly payment from day one is the key.
Other factors that can INCREASE your payment post closing that need to be considered as well are property taxes and insurance costs which annually have been on the rise as well.
