Why Waiting for Lower Rates Could Mean Fewer Choices Later

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Waiting for the Fed to cut rates before you buy?

This week made that strategy less certain.

The Fed held its benchmark rate steady, but its message turned more cautious. Quick rate relief now looks less likely, and mortgage rates moved higher after the announcement before recovering some ground Thursday.

Meanwhile, buyers kept moving. Pending home sales rose 3.8% in May, well above expectations.

But new construction moved in the opposite direction. Housing starts fell 15% to their lowest level since 2020.

Here’s why that matters to you: If fewer homes are built while buyer demand continues, waiting may not lead to an easier market. It could mean fewer choices and more competition when you’re finally ready.

You don’t need to predict the Fed’s next move. You need to know what payment works for you, understand your options, and be ready when the right home appears.

Reach out, and we’ll help you run the numbers without the guesswork.

Featuring:

Rate Source: MortgageNewsDaily.com

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*The Mortgage News Daily index attempts to capture the most prevalently quoted conventional, FHA, and VA 30-year fixed rates for highly qualified homebuyers that meet the appropriate down payment requirements and have no major loan-level price adjustments.

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Mortgage News Daily is a trademark of Mortgage News Daily, LLC. CrossCountry Mortgage, LLC; its subsidiaries; and its affiliates have not been authorized, sponsored, or otherwise approved by Mortgage News Daily, LLC or any of the above-mentioned companies.

Additional Resources

Watch Now:

What To Expect from Mortgage Rates and Home Prices in 2025

Whether you're thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.

Watch Now:

Why Buying Now Is Worth It [INFOGRAPHIC]

You may be torn between buying a home now or waiting.

Watch Now:

Why Did More People Decide To Sell Their Homes Recently?

As rates came down at the end of the summer, sellers started to trickle back into the market, which means buyers have more choices right now.

Equal Housing Opportunity. CrossCountry Mortgage, LLC. Company NMLS 3029. Branch NMLS 1437924. (www.nmlsconsumeraccess.org)

All loans subject to underwriting approval. Certain restrictions apply. Call (858) 259-8700 for details. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program. CrossCountry Mortgage, LLC is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the federal government. CrossCountry Mortgage, LLC is not affiliated with or acting on behalf of or at the direction of the Veteran Affairs Office or any government agency. Certificate of Eligibility required for VA loans. By refinancing, the existing loan total finance charges may be higher over the life of the loan. For more licensing and disclosures, see crosscountrymortgage.com/licensing-and-disclosures.
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TESTIMONIALS
Compensation was not paid in exchange for any testimonial on this site. Individuals pictured may not be that of the endorsers and are for display purposes only.
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REFINANCING
Refinancing may result in higher total finance charges over the life of the loan.
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RATE ASSUMPTIONS
Rates displayed are subject to change and assume that you are buying or refinancing an owner-occupied single-family home, debt-to-income ratios of 35% or lower, asset and reserve requirements are met, and your property has a loan-to-value of 80% or less. The Annual Percentage Rate (APR) is based on the loan amount and may include up to 3 points. (Points include any origination, discount and lender fees.) On adjustable-rate loans, interest rates are subject to potential increases over the life of the loan, once the initial fixed-rate period expires. Please contact one of our Mortgage Experts at (858) 259-8700 for a customized rate and payment quote.

STATE LICENSING
AZ - Main Office Licensed as a Mortgage Banker with the Arizona Department of Financial Institutions No. 0919020.
CA - Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act No. 4131098. California - DFPI Residential Mortgage Lending Act License.
CO - Mortgage Company Registration – Regulated by the Division of Real Estate - www.dora.state.co.us/real-estate.
FL - Mortgage Lender Servicer License No. MLD806.
ID - Licensed as a Mortgage Broker/Lender No. MBL-7779. Regulated Lender License RRL-10257.
MI - 1st Mortgage Broker/Lender/Servicer Registrant No. FR0024287. 2nd Mortgage Broker/Lender/Servicer Registrant No. SR0019909.
NV - NV Mortgage Company License 3259. Supplemental Mortgage Servicer License No. 4352.
OK - Mortgage Broker License No. MB001744. Mortgage Lender License No. ML010107.
OR - Lender License No. ML-4709. Servicer License MS-134.
TN - Mortgage License No. 109408. Industrial Loan and Trust Company Registration No. 3029.
TX - SML Mortgage Banker Registration. SML Residential Mortgage Loan Servicer Registration 3029. Texas Rights.
WA - Licensed by the Department of Financial Institutions under the Consumer Loan Act No. CL-3029.

TEXAS RIGHTS
Consumers wishing to file a complaint against a mortgage banker or a licensed mortgage banker residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 N. Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.
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