Short answer: maybe, but probably not for the reason you think.
Everyone is waiting for the perfect rate. The problem is that when rates fall, a lot of those people stop waiting at the same time. More buyers, same number of homes. You know how that ends.
Run your own numbers, not the headline
The question isn’t “where are rates going?” Nobody knows, including the people on TV. The question is: can you comfortably afford the monthly payment on a home you’d be happy in for five-plus years? If yes, buying now and refinancing later is an option. If no, waiting is the right call, and I’ll tell you that.
What I’d actually look at
- Your full monthly cost: principal, interest, taxes, insurance, HOA
- How long you plan to stay
- What the same home might cost you in a busier market
- Seller concessions and rate buydowns, which are often more negotiable than price
Want me to run the math on a specific home or budget? Send me a note. It takes me ten minutes and it might save you a year of guessing.