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Mortgage rates are still the talk of the town – and for good reason. Earlier this August, rates dipped to 6.55%, the lowest we’ve seen this year, after the latest jobs report came in weaker than expected.
At first glance, that may not feel like a huge shift. But for homebuyers who’ve been watching rates closely, even a small dip feels like hope that lower rates are finally on the horizon. So, the big question is: Should you wait or make your move now?
What Experts Say About Where Rates Are Headed
According to housing forecasts, rates aren’t expected to fall dramatically anytime soon. Instead, most experts believe they’ll hover in the mid-to-low 6% range through 2026.
That means while small ups and downs are likely, no major drop is on the immediate horizon. Every time economic data comes out—like inflation updates or job reports—mortgage rates can shift. But expecting them to suddenly fall into the 5% range isn’t realistic right now.
The “Magic Number” Buyers Are Waiting For
For many buyers, the sweet spot seems to be 6%. And there’s a reason for that. The National Association of Realtors (NAR) reports that if rates reach 6%:
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5.5 million more households could afford the median-priced home
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About 550,000 buyers would jump into the market within 12–18 months
That’s a lot of pent-up demand just waiting to re-enter the market. And if you look at the forecasts, experts expect we may hit that number next year.
But here’s the tradeoff: when everyone else jumps back in, you’ll face more competition, fewer choices, and rising home prices.
Why Now Might Be Your Window of Opportunity
If you’ve been waiting for the “perfect” time to buy, consider the advantages in today’s market:
✅ More inventory → more homes to choose from
✅ Slower price growth → prices are more realistic than in recent years
✅ Negotiating power → sellers may be more open to deals
These advantages could shrink once rates fall and buyers flood back in. As NAR puts it:
“Buyers who are holding out for lower mortgage rates may be missing a key opening in the market.”
Bottom Line from Roo ✨
Mortgage rates aren’t expected to hit 6% this year. When they do, you’ll likely face tougher competition. Right now, you may have more leverage, more choices, and more room to negotiate.
If you’re thinking about making a move in Greater Orlando—whether buying your first home, upgrading, or investing—let’s chat about your options. Sometimes, waiting costs more than acting today.
📲 Reach out to me, Kirsten Roo Klaers – Your Home, Your Castle, and let’s find out if now is the right time for you.
