Don’t Wait for the Perfect Rate: Why Acting Now Could Save You More Than You Think

💬 The “Monster Under the Bed” of Mortgage Rates

Mortgage rates have been the monster under the bed for a while. Every time they tick up, buyers flinch and say, “Maybe I’ll wait.” But here’s the truth — waiting for that perfect 5-point-something rate could end up haunting your wallet later.

🎯 The Magic Number: 6%

According to the National Association of Realtors (NAR):

“A 30-year fixed rate mortgage of 6% would make the median-priced home affordable for about 5.5 million more households—including 1.6 million renters.”

When rates finally hit that 6% “sweet spot,” millions of buyers who’ve been sitting on the sidelines will jump back into the market. That sudden demand will likely push home prices up, meaning your dream home could cost more later—even if rates are slightly lower.

💰 The Real Math

Let’s break it down.
On a $400,000 mortgage, the difference between 6.2% and 5.99% is about $50 per month—that’s less than a couple of coffee runs or a dinner out. But if prices rise by even 2-3% when rates drop, that small “savings” disappears fast.

So while waiting for 5.99% might feel like a win, it could mean paying thousands more once the buying frenzy begins.

📆 Why Acting Now Makes Sense

Jessica Lautz, Deputy Chief Economist at NAR, explains:

“Over the last five weeks, mortgage rates have averaged 6.31%. This has provided savvy buyers a sweet spot to reexamine the home search process with more inventory, widening their choices.”

And Matt Vernon, Head of Retail Lending at Bank of America, adds:

“Rather than waiting it out for a rate that they like better, hopeful homebuyers should assess their personal financial situation—if the house is right for them, and the upfront and monthly payments are affordable, it could be the right chance to make a move.”

🏠 Bottom Line

If you’re ready, don’t let fear of the current rate keep you frozen. Once mortgage rates dip below 6%, competition will heat up, prices will rise, and negotiating power will fade.

📞 Call Krista Klause, your trusted Realtor serving San Antonio, Helotes, Bandera, and surrounding areas, to take advantage of today’s opportunities before the market wakes up again.