If you're thinking about buying a home in the Phoenix metro area, you've likely asked yourself:
"Should I wait for mortgage rates to drop?"
It's a fair question — and one I hear from buyers every single week.
With interest rates fluctuating and headlines creating uncertainty, many homebuyers are feeling stuck. As a Certified Mortgage Advisor with over 40 years of experience, I'm here to provide some clarity so you can make an informed, confident decision.
Let’s break down whether waiting really makes sense — or if buying now might actually be your best move.
No one can predict the future with absolute certainty, but most industry experts believe that mortgage rates will gradually ease over time, not crash overnight.
Here’s what we’re seeing:
Inflation is coming down, but not fast enough for the Fed to cut rates drastically.
Mortgage rates are still influenced by the broader economy, job reports, and market confidence.
While some rate relief is expected, we likely won’t return to the 2-3% range we saw during the pandemic.
So, if you're waiting for a "perfect" rate, you might be waiting a long time.
While rates are high, home prices in the Phoenix metro area continue to climb — especially in high-demand cities like Chandler, Gilbert, Queen Creek, and Ahwatukee.
In fact:
While inventory is growing, the price point for first-time homebuyers remains tight.
Well-priced homes are still getting multiple offers at all price points.
Rents are also high, which makes homeownership even more attractive in the long term.
Waiting for a better rate could mean paying more for the same house later — or missing out on the home you really want.
This is a saying we use a lot in the mortgage world, and it makes sense:
You can refinance your rate later when the market improves.
But the right home in the right location may not be available if you wait too long.
By buying now, you start building equity and benefiting from appreciation — instead of paying your landlord's mortgage.
Right now, I’m helping buyers use tools like:
Seller-paid buydowns to temporarily lower rates
Homebuying programs that offer 100% financing, even down payment assistance programs are available!
As someone who's helped thousands of Arizona families buy homes over the past four decades, my advice is this:
Don’t base your decision only on rates. Base it on your personal goals, budget, and timeline.
Let’s talk about your situation — not just what’s happening in the news. I'm licensed in the beautiful state of Arizona.
Meet Karen Jones: Your Trusted Arizona Loan Officer: With over four decades in the financial industry, Karen Jones is a dedicated Loan Officer committed to helping families in the Phoenix Metro area and beyond achieve their homeownership dreams. Serving cities like Scottsdale, Cave Creek, Fountain Hills, Glendale, and Queen Creek, as well as Maricopa, Pinal, Navajo, Coconino, and Kingman counties, Karen offers a wealth of knowledge and a client-first approach. As a Certified Mortgage Advisor, she expertly navigates various loan options, including FHA, VA, Conventional, USDA, and Jumbo Loans, and provides valuable insights into Down Payment Assistance Programs. Experience the difference of working with a seasoned professional focused on your financial well-being in Arizona.