Rates are unpredictable. Just as quickly as they dropped, they could climb again—and when they do, your monthly payment could shoot up by hundreds of dollars.
Whenever mortgage rates drop, one thing always happens: more buyers jump into the market. Lower rates = lower payments, and suddenly more people can qualify for homes they couldn’t afford before.
A small change in interest rates might not sound like a big deal—but over the life of a loan, it can mean tens of thousands of dollars saved (or lost).
Here’s a hard truth: if you’ve found a home you love, so have other buyers. In a competitive market like Southern California, no listing sits unnoticed.