Waiting for Lower Rates? Here’s What It Could Cost You.

A lot of buyers are waiting for mortgage rates to come down before making a move. But waiting can have a cost too.

Right now, buyers have more negotiating power than they’ve had in a while. More inventory and less competition can mean better opportunities to negotiate on:

• Purchase price
• Seller-paid closing costs
• Repairs
• Rate buydowns

And as we move into fall and winter, the market typically slows down, which can create even more opportunity for buyers who are ready to make a move.

If rates improve in the future, refinancing may be an option. But if competition picks back up, you may not have the same leverage on the price of the home.

The goal isn’t to perfectly time the market. It’s to find a good home, negotiate a strong deal, and make sure the payment fits your budget.

Thinking about buying in Middle Tennessee? Let’s run the numbers and see what opportunities are available right now.