04/29/2026
This is an opinion only: I expect mortgage rates to come down within the next 30-60 days, whether the War with Iran comes to an end or not. Mortgage rates will further decline once Kevin Warsh, the new Fed Chairman, is able to vote.
So what should buyers do during the spring home buying season, given the recent rise in mortgage rates due to the War with Iran? THEY SHOULD BUY!!! Buyers should not be distracted with all the noise surrounding the War with Iran or wait for rates to come down to jump into the market. If they do, they will find themselves in a pool packed with other Buyers who have waited. You and I know, the lower mortgage rates move, the more Buyers can afford. The more Buyers can afford, the more inventory will be absorbed. Once inventory levels dip below a 3 month supply, home values start to spike. Will this happen overnight, NO, but it will happen over time. Buyers need to be laser focused on getting a home for as cheap as possible, regardless of the mortgage rate, so long as they can afford the payment, and ride the refi wave down as mortgage rates move lower over the next 6 to 18 months.
