How Buyers Can Navigate Today’s Rate Gap Successfully

Many potential homebuyers overestimate current mortgage rates, with 45% believing rates are higher than they are. Most have delayed buying for about 13 months, waiting for rates around 5%, while actual rates remain near 6.5%. This hesitation has led to rising home prices and rents, making buying harder. Experts say rates in the high 5% to low 6% range are normal and unlikely to drop soon, urging buyers to consider alternatives like discount points or down payment assistance.