Should we wait for rates to drop before we sell and move up?
Answered by Chris Deutsch, Founder & Editor
Licensed Minnesota Realtor #20382264 ·
The short answer
Waiting for rates is betting on two markets at once — and the second usually cancels the first. If rates fall meaningfully, you won't be the only one who noticed. Buyer competition returns, and the house you're moving up to gets bid on by everyone who was waiting alongside you. You'd trade a cheaper loan for a pricier house. Sometimes that nets out; it's rarely the windfall it feels like from the sidelines.
On stage The 60-second answer
Captions on · Transcript below
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Chris's video answer is on its way. Until then, the short answer above says the same thing.
The transcript posts with the video.
The longer answer
What actually works: decide on your life first and let the market set the tactics. If the house no longer fits, move at today's math instead — with a plan. Pay points now, recast after your sale, or refinance later if rates genuinely drop. Any of those beats holding your life hostage to a forecast. The rate is temporary in a way the wrong house isn't.
Nobody times it clean, me included. I've watched people wait two years to save on a loan and pay for the wait twice in price.
The next department over
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From the editor's desk
“As Founder and Editor, I review, correct, and stand behind every answer.”
Is your situation more specific than the market? That's the one worth talking through.