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Despite Mortgage Rates, You Should Buy a House Right Now

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Despite Mortgage Rates, You Should Buy a House Right Now


You can’t time the housing market.

That statement, on the surface, seems like it’s wrong, but over 50 years of sales data suggest broadly that the right time to buy a house is always now. Housing prices, of course, vary by market, but on a national level, they have climbed steadily since the 1960s, according to data from the St. Louis branch of the Federal Reserve.

Mortgage rates, which have basically doubled from 2.9% a year ago to 5.89% as of Sept. 8, are a factor, but waiting for rates to drop is a dangerous game. If mortgage rates do fall, more people are likely to end up back in the housing market. That will push prices higher.





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