If you’re a first-time homebuyer waiting for interest rates to drop, here’s what you need to know:
Recent inflation data for May showed no significant change, which means inflation remains above the comfort zone for policymakers. In addition, ongoing tariffs are beginning to slow economic recovery and could contribute to higher costs in the months ahead. These factors reduce the likelihood of any immediate interest rate relief.
For first-time homebuyers, this uncertainty can be frustrating—and waiting for lower rates may not be the most effective strategy. The current rate environment is relatively stable, which gives you a chance to plan ahead. Getting pre-approved now allows you to understand your budget, lock in a rate if needed, and move quickly when the right property becomes available.
If you’re considering a purchase, now is the time to review your options and move forward with confidence. Got questions? Contact the experts at The Mortgage Doctors Inc at 1.866.452.1100 now.
