You might be holding off for interest rates to drop to “6%.” If you are, you could be setting yourself up for disappointment.
Because here’s the truth: waiting for that singular number could cost you more than you imagine.
1. Why 6% May Not Be the Relief You Think
Many buyers believe that once rates hit 6 %, things will instantly become easier. But the data suggests otherwise. Rates are projected to stay in the mid- to low-six-percent range into next year. Let’s say 6 % finally arrives, the effect won’t necessarily be what you expect.
When rates fall, it isn’t just about “lower monthly payments.” It’s about more buyers entering the market, increasing competition.
2. The Sweet Window You Have Right Now
Right now, you’re sitting in a unique window of opportunity:
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More homes are available.
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Price growth is slower.
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Buyers have real negotiating power.
Once more people feel able to jump in (thanks to “acceptable” rates), those advantages begin to erode: bidding wars increase, pricing becomes more aggressive, and it’s harder to negotiate.
3. What You Should Do Instead of Waiting
If you’re actively thinking about buying, here’s what I recommend:
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Get pre-approved now so you know your budget and your power.
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Lock in a rate or explore options that make sense for you now, because time is a factor.
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Stay agile when the competition heats up, you’ll want to be ready.
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Work with someone who tracks the market daily (that’s where I come in) so you don’t miss your moment.
Waiting for the “perfect” mortgage rate can feel like the safe move, but in today’s market, timing often matters more than the number itself. The buyers who win aren’t the ones who wait on the sidelines; they’re the ones who understand the market, act strategically, and stay prepared.
If you’re considering a move, now is the time to have a real conversation about your options. With the right plan, you can take advantage of today’s opportunities before competition heats up again.