06/06/2026
My hot take: waiting for rates to drop before you buy is often a more expensive strategy than just buying now.
When rates drop, demand spikes. When demand spikes, prices go up and competition among buyers grows. The buyers who waited for 5% rates in previous cycles found themselves in bidding wars on homes that cost significantly more than the ones they passed on. The lower rate saved them money on paper and cost them more on the purchase price.
Refinancing later is always an option. Losing the house to someone else isn't reversible.
Reply A if you're waiting for rates to drop before you buy. Reply B if you've decided to move regardless of rates. No wrong answer.