72% of homebuyers have paused their search waiting for lower mortgage rates and 41% already regret it Godwin Oluponmile Sat, August 29, 2026 at 8:00 AM PDT 5 min read If you're waiting for mortgage rates to fall before buying a house, there's a decent chance the number you're watching is out of date, and you're not alone in this. A poll commissioned by Neighbors Bank a Columbia, Mo., lender specializing in loans for first-time buyers and others the mortgage market tends to pass surveyed 1,000 potential buyers. Most buyers couldn't say where rates stood while they waited. Only 35% could place the average 30-year rate in the right range, and 45% overshot. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord without actually being one Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes So a lot of buyers right now are sitting out the market because of a number they're not tracking. And it's a number Fannie Mae, the Mortgage Bankers Association (MBA) and other forecasters don't expect to see again for years yet . In the meantime, 72% of the buyers surveyed have put their searches on hold, and millennials have logged the longest waits at 14 months. Why forecasters say 5% isn't coming back soon Freddie Mac's weekly survey had the 30-year fixed at 2.65% in January 2021, and by October 2023 it hit 7.79%. It initially slid to 5.98% towards late February of this year, then turned around to 6.49% as of July 9, and 6.66% as of Aug. 27 . The forecasts don't bend much from there. Fannie Mae's June housing forecast has the 30-year fixed averaging 6.4% through the rest of 2026, easing to 6.3% over 2027. The MBA's June Mortgage Finance Forecast , for its part, has it at 6.5% in the third and fourth quarters and still at 6.5% through 2027. Analysts told U.S. News they see rates holding between 6% and 6.5% for the next three years, and the outlet reported that Fed officials' own June projections made a 2026 rate hike look likelier than a cut. Still, 34% of the holdouts say they'd pull the trigger the day the rates hit their number. Regret is setting in for the holdouts Among buyers who have delayed, 41% already have regrets about it, saying they should have moved before rates or prices got worse. If they could rerun 2025, 17% say they'd have bought a house instead. Meanwhile, 40% say their regret goes back further, to the pandemic era, when the 30-year rate fell as low as 2.65% . Story Continues Waiting hasn't been free, either. Among all respondents, 49% said rising rent has left...
🔥 EXCLUSIVE PARTNER OFFER
GameSir Nova Lite Wireless Gamepad, Bluetooth Gaming Controller with Hall Effect for Switch, Android, iOS, PC, Steam Games
Special Price
💥 Massive discount! Save big on this must-have item. Free shipping available!
Affiliate link — Commission earned at no extra cost to you
© EcoNews DZ — Global Economic & Financial News
Comments
Post a Comment