Rates crept up again this month, and it is natural to wonder if now is still a good time to buy. Here is how we would think about it if we were in your shoes.
The Payment Math Matters More Than the Headline Number
A jump from 6.5% to 6.9% sounds small, but on a typical Montgomery County or Houston-area purchase it can add well over $100 to your monthly payment. That is real money — but it is also a number your loan officer can show you precisely, rather than leaving you to guess from a news headline. Before you decide anything about timing, get your actual numbers run.
Waiting for the “Right” Rate Rarely Pays Off
Nobody, including us, can reliably predict where rates will be in three or six months. Buyers who wait for a specific number often end up paying more for a home later, since home prices tend to rise even when rates do too. If a payment works for your budget today, that is usually a better signal than trying to time the market.
Options Worth Asking About
- Temporary rate buydowns — lower your rate for the first year or two while you settle in, often paid for by the seller as part of negotiations in today’s more balanced market.
- Float-down options — lock your rate now with the ability to move it lower if rates drop before closing.
- Refinance later — buying today does not lock you into today’s rate forever. If rates fall meaningfully, refinancing is always on the table.
The Local Advantage
With inventory rising across Greater Houston and Montgomery County, buyers have more negotiating room than they have had in years. That leverage, paired with the right loan structure, can offset a lot of what higher rates take away. This is exactly the kind of conversation worth having with a local loan officer before you start touring homes, not after.