Rates fluctuate, and no one can time them perfectly. Prices, however, tend to be far more permanent. When rates drop, buyer competition usually increases, often leading to higher prices or multiple offers that erase the benefit of a lower rate.
Historically, many buyers who purchased at higher rates were able to refinance later and come out ahead. Buyers who waited often paid more for the same home once competition returned.
The strategy that continues to work best:
Buy when it makes sense for your finances and lifestyle, then refinance later when the math supports it.
Call me today to find your dream home.
You can change an interest rate.
You can’t refinance a purchase price.