waiting for the “perfect” rate is like chasing your tail—by the time you think you’ve got it, prices have jumped again.
That’s been my experience too. Here’s how I look at it: 1) Figure out what you can actually afford right now, not in some hypothetical future. 2) If you find a house you love and it fits your budget, don’t get hung up on squeezing out the lowest possible rate. 3) Remember, you can always refinance if rates drop later, but you can’t rewind time if prices keep climbing. Personally, I worry more about home prices running away than rates ticking up a bit. Missed out on a place in 2021 because I hesitated...still kicking myself.
Chasing that “perfect” rate is like waiting for Texas weather to make up its mind—by the time you think it’s finally sunny, here comes a hailstorm. I’ve had clients who waited for rates to drop, only to watch home prices sprint ahead. One couple in Frisco kept saying “just a little lower,” and now the same house is $80k more. Sometimes you just gotta jump in when it feels right, even if the rate isn’t storybook perfect. You can always tweak the loan later, but you can’t buy yesterday’s price.
I get where you’re coming from, but I can’t help feeling a little cautious about just “jumping in.” I mean, yeah, rates might not ever be perfect, but if you’re stretching your budget to the max, even a small difference can sting every month. I’ve been running the numbers on a few places in Plano and honestly, even a half-point up or down changes the payment more than I’d like. Maybe I’m just too risk-averse, but waiting for a rate that’s at least reasonable feels smarter to me...even if it means paying a bit more for the house.
I totally get that. I’ve been looking at houses in Frisco and every time I plug in a different rate, my stomach drops a little. Last year, I almost put in an offer but chickened out when the payment jumped $150 just from a small rate bump. It’s wild how much that adds up over time... I’d rather wait and feel comfortable than rush and regret it.
Last year, I almost put in an offer but chickened out when the payment jumped $150 just from a small rate bump.
Man, I feel that. I was running numbers on a place in McKinney and couldn’t believe how much a tiny rate change messed with my budget. It’s like, you think you’re close, then boom—monthly payment is suddenly out of reach. Part of me wonders if waiting for 2025 will actually help or if prices will just keep climbing anyway... Hard to know what’s worse, higher rates or higher prices.
