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Q: Why Is It Unwise to Wait For Rates to Drop to 0%?

Here’s why you shouldn’t hold your breath for interest rates to drop.

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I’m often asked, “Should we wait for rates to get better?” If you’re waiting for interest rates to go down to 0%, you’re going to have to wait a very long time. Although rates went to 0% for banks, they won’t go down to 0% for consumers because mortgage companies and lenders have to pay for borrowing money from the bank.

Every time the rates go up, it eliminates thousands of buyers from the market. The higher the rate, the less home you can buy.

Your rate is based on your debt-to-income ratio. If it’s lower, you have the opportunity to pay less for more house. Now is the time to go.


The higher the rate, the less you can afford.


Now’s a great time to be in the market as a homebuyer, secure your home, and get moving. We have a big shortage of inventory, which means prices are going to go up even though interest rates might be low.

If you have any questions for me about interest rates or the market in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

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