Should You Wait for Interest Rates to Drop? The Truth No One Is Telling You
Should You Wait for Interest Rates to Drop? The Truth No One Is Telling You
Hi, I’m John Meier with Westplex Real Estate, and if you’ve been wondering whether you should wait for interest rates to drop before buying a home…
You’re not alone.
This is the question almost every buyer asks me.
And here’s the honest truth that most people won’t tell you:
👉 Waiting for rates to drop usually costs buyers more than buying now.
Let me explain why in simple, real-world terms.
1. Rates Might Not Drop as Much as You Think
A lot of buyers are waiting for rates to go back to 3% or 4%.
But those days were the most unusual, temporary market in history.
Rates might dip a little…
But experts agree they won’t crash back down to pandemic levels.
If you're waiting for something that may never return, you’re not waiting
You’re pausing your life.
2. When Rates Do Drop, Competition Explodes
Let’s say rates fall even a little from the high 6s to the low 6s, or from the low 7s into the 6s.
Here’s what happens immediately:
Thousands of buyers re-enter the market
More offers
Faster bidding wars
Prices go up
So yes, you might get a lower rate…
But you’ll likely pay more for the house.
In the end, the monthly payment often ends up about the same or sometimes higher.
3. Buying Now Can Actually Save You Money
When you buy now:
There’s less competition
Sellers are more flexible
You may get seller concessions
You might negotiate repairs or closing costs
These things disappear when the market heats up again.
Plus and this is key
👉 You can always refinance later.
You can’t go back in time and re-buy the house at a cheaper price.
4. The Real Question Isn’t About Rates It’s About YOU
Most people think interest rates determine whether they should buy.
But the real questions are:
Is your job stable?
Do you have a comfortable monthly budget?
Do you need more space?
Are you tired of renting?
Are you paying someone else’s mortgage?
Are you planning for the next 5–10 years?
If the home fits your life and your budget
that’s your green light.
Not a headline.
Not a rate prediction.
Not a guess.
The Bottom Line
Here’s the truth:
👉 Waiting on interest rates is gambling.
👉 Buying based on your life and budget is strategy.
If rates drop, you refinance.
If prices rise, you’ll be glad you bought when you did.
The smartest move in real estate is the move that works for your life today not what the market might do tomorrow.
Let’s Build a Smart Plan Together
Whether you’re buying, selling, or just trying to make the right decision, I’m here to help you make a confident, informed move.
📞 Call me at (636) 242-5365
✉️ Email: [email protected]
🌐 Visit: johnmeiersells.com
I’ll walk you through the numbers, the timing, and the strategy so you make the best move for you.
Make it a great day!
John Meier
Westplex Real Estate
