Mortgage rates have been easing since late March, and that means more buyers will come back into the market. While it’s tempting to wait for rates to drop further, the reality is they move unpredictably — and small changes rarely make a big difference in affordability.
Waiting can actually cost more. As rates fall, buyer demand increases, leading to more competition, fewer homes, and potentially higher prices. A slightly lower rate won’t help if the home you want becomes more expensive or unavailable.
The smarter approach is to focus on readiness. If your finances are in place and you’ve found the right home, locking a rate gives you certainty and allows you to move forward with confidence. And if rates drop later, refinancing is always an option. Plus, there’s plenty of inventory right now, so it’s a good time to find most of what’s on your home buying checklist.
Bottom line: don’t try to time the market — be ready to act when the opportunity is right.
