Is It Better To Buy Now or Wait for Lower Mortgage Rates? Here’s the Tradeoff

Mortgage rates recently dipped to 6.55%, the lowest so far this year. While that doesn’t sound huge, buyers have been waiting for rates to drop — and even a small change sparks hope.

👉 What Experts Say:

• Rates aren’t expected to fall dramatically anytime soon.

• Most forecasts show rates staying in the mid-to-low 6% range through 2026.

• Small shifts will still happen, depending on economic news.

👉 The Magic Number? 6%
If rates hit 6%:

• 5.5 million more households could afford a median-priced home.

• 550,000 buyers may jump into the market within 12–18 months.

👉 The Tradeoff:

• If you wait for 6%, you’ll likely face more competition, fewer options, and higher prices.

• Right now, inventory is higher, price growth has slowed, and there’s more room to negotiate.

✅ Bottom Line:
Rates may hit 6% next year, but the market is already giving buyers a unique window of opportunity. The question is — will you wait and compete later, or act now while conditions are in your favor?

Finding ways to make your credit score better could help you get a lower mortgage rate. When you’re ready to get the process started, let’s connect.