Like many questions in Life, the answer is “it depends.” More than anything, it depends on individual factors, but if you’re in the market, consider these factors:
- Buy now, refinance later – the general consensus is that the high rates will continue to decline
- Home prices will continue to rise – prices continue to be resilient; maybe they’ll rise in the stronger markets
- Inventory on the rise – while listings are not nearly at pre-pandemic levels, the trend is definitely upwards
- Lower competition – higher mortgage rates mean better opportunities for those who remain in the hunt
For some, now may be the prefect time to buy.