Let’s have a real conversation about affordability for a minute.
If you’ve been thinking about buying or making a move, you deserve honest information — not just headlines designed to create fear or confusion. The truth is, affordability today is a mixed bag. There are definitely challenges, but there are also opportunities people aren’t talking about enough.
Yes, mortgage rates have gone back up recently. After trending downward for a while, we’ve seen rates climb again, and that’s frustrating for buyers. A lot of it comes down to uncertainty in the economy — inflation, global tensions, rising oil prices — all of it impacts mortgage rates.
And realistically, rates may stay somewhat unpredictable for a while. Even when things settle down, most experts believe we’re likely looking at rates somewhere in the low-to-mid 6% range rather than the ultra-low rates we saw a few years ago.
But here’s the part many people miss: rates are only one piece of the affordability puzzle.
The good news is wages have actually been growing faster than home prices lately. At the same time, home prices have remained relatively steady in many markets instead of skyrocketing like they did during the frenzy a few years ago.
We’re also seeing more inventory hit the market, which gives buyers more choices, less competition, and more room to negotiate. That’s a big shift from the “rush and overpay” environment we were dealing with before.
So should you wait? Honestly, nobody knows exactly when rates will improve or by how much. And putting your life on hold while waiting for the “perfect” market can sometimes cost you opportunities too.
The better question is: does buying make sense for your situation right now?
That’s why having a real conversation matters. Every buyer’s numbers, goals, and timeline are different. If you want to talk through what’s actually possible in today’s market — without pressure — I’m always happy to help.
