Many buyers are waiting for lower mortgage rates.

That sounds logical, but there is another side to the decision.

If rates drop, more buyers may enter the market. That can increase competition for good homes.

A buyer today may face a higher rate but have more negotiating power.

You may be able to negotiate:

• A lower sales price
• Seller-paid closing costs
• Repairs
• An interest-rate buydown
• Better contract terms

If rates fall later, refinancing may become an option.

The question shouldn’t simply be:

“Are mortgage rates high?”

It should be:

“Can I comfortably afford the home today, and does buying make financial sense for me?”

Sometimes waiting helps. Sometimes waiting costs you an opportunity.

Run the numbers before making the decision.

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