04/23/2026
Everyone keeps asking if they should wait for rates to drop.
Here’s the reality and some context:
In the 1980s, people were buying homes at 12%
In 2020, rates were around 3%
Today we’re in the mid 6% range
In 2025 the average was 6.6%
Today it’s just a touch lower.
People think waiting is the “safe” move. Just hang tight until rates come down and then jump in. Sounds logical, but what usually gets missed is what happens when that plays out.
If rates drop, more buyers come back into the market. Demand picks up. Competition gets tighter. Prices tend to move up again.
So yeah, maybe you get a better rate. But you might be paying more for the home and competing against multiple offers again.
Right now the market is just different. There is less competition in a lot of areas. More room to negotiate. More inventory sitting than we have seen in a while. Geopolitical swings.
