Is Now the Right Time to Buy a Home?
Buying a home right now can feel like a big decision—because it is. The right home can be exciting, but high interest rates might make you pause. So, should you buy now or wait it out? Let’s break it down simply.
How Mortgage Rates Work (Without the Jargon)
Mortgage rates aren’t set by one person or one rule. They’re shaped by a mix of things, like:
The 10-year Treasury yield
Inflation
How the economy’s doing
Housing market demand
All of these work together to move rates up or down.
A Quick Look Back at Mortgage Rates
Rates change over time. Here’s a quick snapshot:
1981: Mortgage rates hit 18.63% (yes, really)
1990s–2000s: Rates slowly dropped
2010s: Rates hit all-time lows
2022–2024: Rates climbed over 7%
Even though rates are higher than a few years ago, they’re still well below historical highs.
Should You Wait or Buy Now?
Trying to time the market perfectly is tough. While you wait for rates to drop, home prices might keep rising—making things more expensive down the road. So instead of just focusing on rates, here’s what else to think about:
Things to Consider Before You Decide
Rent vs. Buy: Are you paying more in rent than you’d pay for a mortgage?
Financial Readiness: Do you have steady income, decent credit, and a little saved up?
Refinance Later: If rates go down, you can refinance your loan.
Buying a Home Is a Long-Term Move
Buying a home isn’t just a financial decision—it’s a lifestyle one. It’s about building stability, gaining control, and putting down roots. Interest rates matter, but they’re only one piece of the puzzle.
Let’s Keep It Simple
Owning a home might be closer than you think. We’ll help you understand your options clearly—no pressure, no jargon.
Ready to explore your next move? Let’s chat.