Is $80 really worth delaying your home purchase?
A lot of buyers are waiting for mortgage rates to dip below 6% before making a move. But here’s the surprising truth: even if rates drop to 5.99%, the monthly savings for most buyers is only about $80. Yes — just $80.
Of course, the exact number depends on your budget and the rate your lender offers, but in most cases, that tiny dip isn’t going to transform your monthly payment the way many expect.
Rates Have Already Dropped Significantly
What many buyers don’t realize is that rates have already come down enough to save buyers around $400 per month compared to what they would’ve paid earlier this spring on a typical home.
In other words, the big savings are already here — and the tiny extra drop some people are waiting for might actually cost more than it saves.
More Competition Is Coming
Here’s the bigger issue: when rates dip below 6%, buyer psychology changes. More people jump back into the market, and competition increases almost overnight.
More competition often means:
- More bidding wars
- Fewer choices
- Higher home prices
And rising prices can easily wipe out that $80/month you’re waiting for — and then some.
Waiting Could Cost You More
If home prices rise even slightly when more buyers return, that could add hundreds more to your monthly payment — far more than the $80 you hoped to save.
So the question becomes:
Is waiting for a very small rate drop worth risking a much bigger price increase?
Let’s Look at Your Numbers
Every price point is different. Every house is different. And every lender quote is different.
Before you make a decision based on headlines, let’s run the real numbers for your budget and your market. You may find the difference is a lot smaller than you think — and that waiting could cost more than buying now.
