I went through something similar last year—waited a couple months to boost my score, and guess what? Rates went up slightly in the meantime, totally canceling out my "brilliant" plan, lol. Lesson learned: timing beats perfection every time.
Had a similar experience myself a while back. Waited around to squeeze out a few extra points, and by the time I was ready, the market had shifted just enough to wipe out any advantage. Sometimes chasing perfection ends up costing more than it saves... I'd say if your credit is already decent, pulling the trigger sooner rather than later usually pays off. But hey, hindsight's always 20/20, right?
"Sometimes chasing perfection ends up costing more than it saves..."
This is spot-on. I've seen clients hold off refinancing for months, hoping to bump their credit just a bit higher, only to watch rates climb and erase any potential savings. It's a tricky balance between timing the market and improving your credit profile. Curious—have you considered how much of a rate improvement you'd realistically gain from those extra points? Might be worth crunching some numbers to see if the wait truly makes sense.
Had a similar situation myself a few years back. I kept waiting, thinking I'd squeeze out a slightly better rate if my credit ticked up just a bit more. Ended up missing the boat entirely when rates jumped unexpectedly. Honestly, unless you're right on the edge of a significant credit tier, those few extra points might not even move the needle much. Might wanna run some quick scenarios to see if it's really worth holding out...
"Ended up missing the boat entirely when rates jumped unexpectedly."
This is a really good point and something I've seen happen to clients more often than you'd think. Timing the market perfectly is nearly impossible, and waiting for a few extra credit points can sometimes backfire if rates shift suddenly. Unless you're right at the threshold of a major credit tier, the difference in your rate might be minimal—certainly not enough to justify the risk of rates climbing in the meantime.
I've advised clients who've been in similar situations to run the numbers carefully. Often, the savings from a slightly better credit score are negligible compared to the potential cost if rates move against you. It's smart to weigh the potential upside against the risk of missing out altogether. Your approach of running quick scenarios is spot-on; it's always best to make an informed decision rather than chasing incremental improvements that might not pay off.
