Buyers Waiting for the “Perfect Rate” Are Missing the Real Savings

A lot of buyers are stuck in “wait and see” mode right now. They’re watching rates hover a little above 6% and thinking, I’ll buy once they hit the 5s. And sure, a lower rate sounds great.

But here’s the catch: that magical 5.99% number probably won’t save you the way you think it will.

Affordability is still tough. No sugarcoating it. But the market has already handed buyers a head start. Rates have been drifting down for months — and that drop is already putting real money back in your pocket.

How Much You’ve Already Saved Without Realizing It

Rates peaked above 7% in May. Since then, they’ve fallen into the low 6s. That may sound small, but the savings aren’t.

Redfin’s data shows a buyer today is paying almost $400 less per month on a median-priced home than they would have been paying this spring.

That’s nearly $5,000 a year in savings — already baked in.

And waiting around for something even better? That’s where the gamble gets expensive.

Where Experts Expect Rates To Go Next

Most forecasters say rates will stay right about where we’re sitting now throughout 2026. Only one is calling for rates to fall into the upper 5s (and even that isn’t a sure thing).

So yes — a sub-6 rate might show up. But here’s what the math looks like if it does.

The Real Impact of a 5.99% Rate

If rates fall to 5.99% from current levels, the average buyer saves… about $80/month.

A nice little perk — but hardly life-changing. And nothing close to the nearly $400/month you’re already saving compared to the spring.

So the real question becomes:

Is waiting for $80/month worth passing up the savings you already have today?

Why Waiting Could Actually Cost You More

Right now, you’ve got more homes to choose from, sellers are open to negotiating, and buyer competition is calmer than it’s been in years.

But once rates dip below 6%, the floodgates open.

NAR says roughly 5.5 million more households will suddenly be able to afford the median-priced home. Even if only a slice of them jump in, you’re looking at:

• More competition

• More bidding pressure

• Higher prices

And higher prices wipe out your $80/month “win” before the ink dries.

Bottom Line

You don’t need to wait for 5.99%. You’ve already won — and the savings are real.

If you find a home you love and the numbers work, moving now could save you more than waiting for a tiny dip later.

Want to run your exact numbers? Talk with an agent or lender who can show you what today’s rates mean for your budget.