“The best time to buy a home is always five years ago.” — Anonymous

Why You Don’t Need to Be Afraid of Today’s Mortgage Rates

By Heather Taylor, GRI

Buying a home is such a meaningful milestone—and I know how much the numbers matter. Right now you might be hearing a lot about mortgage rates, and if you’re thinking “maybe I’ll wait for that perfect lower rate,” you’re not alone. But here’s the honest truth: waiting might cost you more than you think.

The “Magic Number” & Why It Matters

According to the National Association of Realtors® (NAR), if a 30-year fixed mortgage rate were to drop to around 6 %, it would suddenly open up home affordability for about 5.5 million more households—including 1.6 million renters. When that happens, demand often picks up quickly.
When more buyers decide to move, more competition means prices rise—and that’s something many folks don’t factor in.

The Real Difference: It’s Smaller Than You Think

Yes, even a rate drop from say 6.2 % to 5.99 % feels like a win. But for a typical $400K mortgage, that difference might only be about $50/month—less than what many spend on streaming services or weekend brunches.
And here’s the kicker: if you wait for that “sub-6%” moment, by the time it comes — sellers may already have more buyers lined up, inventory may be tighter, and prices may have climbed. So your savings on the rate could be offset by spending more on the home itself or losing out on your preferred property.

Why Now Could Be the Right Time for You

In our local market here in the Annapolis/Anne Arundel/Prince George’s region, we’re seeing some nice pockets of opportunity:

• Inventory is a little more flexible than during peak frenzy.

• Buyers who move now may have stronger negotiation leverage.

• If you have your financial ducks in a row (budget, pre-approval, must-haves vs nice-to-haves), you’re in a strong position to act.

As I often tell my clients: rather than waiting on a rate number alone, look at your personal situation.

• Does the home fit your life (location, size, commute, schools, lifestyle)?

• Are the monthly payments comfortable for you?

• Does it make sense for your future plan, not just the next year but the next five?

If you can confidently answer “yes,” then today’s rate doesn’t have to be scary.

Bottom Line

Don’t let fear of rates keep you stuck. Waiting for a “perfect” rate might leave you behind in a market where more buyers are lining up on the sidelines. When the rate drops, more buyers jump in—and you may face higher prices and fewer choices.
If you’re ready, financially stable, and motivated, this could absolutely be your moment to move.
And I’d love to help you explore what that looks like—whether you’re buying your first home, upsizing for your growing family, or relocating right here in our local Maryland communities.

Disclaimer: The information in this blog is educational only and not investment advice. Please consult with your mortgage professional, financial advisor, and me before making any home purchase decision.

Credit: This article was adapted and rewritten using market insights from the National Association of Realtors® (NAR) and general industry research on mortgage rate trends. All content has been customized for originality and educational purposes.