With mortgage rates still hovering above what we’ve been used to in recent years, a lot of people are wondering: “Should I wait to buy?” It’s a fair question — but the answer isn’t always a clear-cut “yes” or “no.”

Here’s the truth: in some situations, buying now can still be a smart move — even with higher rates. Let’s break down when it might actually make sense to go for it.

1. You Found The One

Sometimes, the perfect home comes along — the right layout, the right location, the right everything. And let’s be honest: great homes don’t come around every day. If you’re financially ready and you’ve found your home, it might be worth locking it in now and refinancing later if rates drop.

2. Prices Are Calmer (for Now)

While rates are higher, they’ve helped cool down some of the buying frenzy. In many areas, this means less competition and fewer bidding wars. If you’re able to snag a home at a good price today, that could be worth more long-term than waiting for a slightly better rate — especially if prices go back up.

3. Renting Is Still Expensive

Renting isn’t exactly a bargain these days. In many cities, rent prices are at all-time highs — and unlike a mortgage, rent doesn’t build equity. If your rent is close to what a mortgage would cost you, buying could be a better long-term investment, even with today’s rates.

4. You’re Financially Ready

If you have steady income, a solid credit score, and enough saved up for a down payment and closing costs, you’re already in a great position. In fact, buyers with strong financial profiles may qualify for better terms or loan programs that help offset higher rates.

5. The Market’s in Your Favor

In some cities, inventory is rising and sellers are more willing to negotiate. That gives you a bit more breathing room and leverage — something that was rare during the crazy market of 2020-2022. A more balanced market means you might score a better deal, even with a slightly higher interest rate.

Bottom Line

Yes, rates are higher than they were a couple of years ago — but that doesn’t mean it’s a bad time to buy. If you’re financially prepared and you find the right home, this could still be your moment. And remember: You can always refinance down the road.

This article is for information, illustrative and entertainment purposes only and does not purport to show actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular investment action.