If you’ve been scanning Seattle real estate listings or walking past that perfect house for sale in Seattle wondering if now is the right time to make a move, you’re not alone. Many buyers are holding their breath, hoping mortgage rates will drop. But here’s the catch: waiting for that “perfect” rate could cost you more than you think—not just in missed opportunities, but in the kind of home you can afford.

Is It Better To Buy Now or Wait for Lower Mortgage Rates?

Many buyers are asking the same question: “Should I buy now or wait?” While lower mortgage rates would be appealing, waiting doesn’t guarantee a better deal. If rates drop, buyer demand could surge—meaning more competition and potentially higher home prices. That could offset the savings you might gain from a slightly lower rate.

What Rate Would Get Buyers Moving Again?

Recent surveys show that a significant number of buyers are waiting for rates to fall below certain thresholds—often around 5% or less. But when that happens, more buyers will flood the market, and you might find yourself competing in bidding wars.

Bottom Line:

Trying to time the market is a gamble. If you’re financially ready now, locking in a home at today’s prices could be smarter than waiting for a rate drop that may not deliver the savings you expect. Acting now could secure the home you love before competition heats back up.