Reasons You’ll Regret Waiting for Rates To Drop Before Buying a Home

Waiting to buy a home for lower mortgage rates can be costly due to missed equity growth from home price appreciation, which averages about 4% annually. Lower rates often increase demand, potentially raising home prices. Inflation raises ongoing homeownership costs, and rising rents add to the expense of waiting. Buyers who purchase now can refinance later, but missed equity growth is permanent, making waiting potentially more expensive than buying today.