Why Waiting Feels Safe Right Now

Angie Loukos of Canopy Mortgage hears the same question every single week: should I buy now or wait for lower rates? She understands why. Rates recently hit their highest level since November 2023, so sitting on the sidelines feels like the safe choice. But waiting leaves out some important pieces of the picture.

Sellers Are More Flexible

While buyers wait, sellers are cutting prices and offering credits they would never offer in a crowded market. That flexibility gives ready buyers negotiating power that may not last once more people return to the market.

More Homes to Choose From

Buyers also have more homes to choose from than at any point since 2019. More inventory means more time to compare options, negotiate, and find the right fit instead of rushing into the first available home.

Prices Can Rise Later

If prices rise while you wait, that cost is permanent. Waiting for a rate drop could mean paying more for the same home later, and a lower price cannot be recovered after the fact.

If Rates Drop Later, You Can Look at Refinancing

If rates drop later, you can look at refinancing. One of these risks can be corrected after the fact and the other cannot. Refinancing depends on your credit, equity, and market conditions at that time, so it is worth discussing the plan with a lender up front.

Choose the Payment That Fits Comfortably Today

The right move is the one where the payment fits comfortably today. A comfortable payment gives you room to live your life, build equity, and take advantage of a better rate if one comes along.

Run Both Scenarios With Real Numbers

Angie offers to run both scenarios, buying now and waiting, using your real numbers so you can see the difference side by side. Reach out to Angie Loukos, Branch Manager and Loan Officer at Canopy Mortgage, to get started.

Sources

FreddieMac.com
NAR.realtor
Realtor.com
ConsumerFinancialProtectionBureau.gov
Investopedia.com