If you’re asking yourself “Should I wait to buy until mortgage rates drop?” — you’re not alone. It’s the number one question I hear right now. The honest answer? Maybe… but don’t count on a big, guaranteed drop.

Mortgage rates are influenced by a mix of factors: inflation, the overall economy, and how much investors are willing to pay for mortgage-backed securities. Recently, we’ve seen rates drift slightly lower, and many economists expect modest declines over the next year. But here’s the catch — if inflation flares up or investors demand higher returns, rates could stall or even climb again.

It’s also important to remember that very few buyers manage to “time the bottom.” Most lock their rate either on the way down or after it starts climbing back up. Waiting too long could mean missing the home you love or facing more competition when rates improve and buyers flood back in.

The good news? Affordability is slowly improving, and sellers are more willing to negotiate than they’ve been in years. This could mean opportunities for buyers right now — even if rates aren’t perfect.

So before you sit on the sidelines hoping for the lowest possible rate, talk with a mortgage professional. Together, we can look at your budget, run the numbers, and decide if waiting makes sense — or if it’s smarter to move now while the market is in your favor.

Sources:

• https://www.investopedia.com

• https://www.realtor.com

• https://www.wsj.com