"I am looking for a lifestyle change now that I'm going into retirement and my kids are out of the house," she says. Her current home is paid off, with no outstanding mortgage balance. Even so, she explains, "I'm waiting for rates to go down to sell, because lower rates tend to mean higher home prices, and I want to maximize my investment." This cautious optimism highlights the intertwining relationship between home buying and mortgage rates.
"Indeed, the Realtor.com midyear forecast predicts mortgage rates to fall to 6.3% by the end of the year. This would mean that homebuyers who hold off could stand to save significantly on interest payments. But playing the waiting game comes with risks, and trying to time the market is always a gamble." This reflects the essential consideration that homebuyers must evaluate their personal circumstances versus market fluctuations.
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