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Waiting for those ultra-low mortgage rates to come back might not be the best move for home buyers. Here’s why:

First, those super-low rates were a result of unique, temporary conditions, like the economic measures taken during the COVID-19 pandemic. It's unlikely we’ll see them again anytime soon. Meanwhile, home prices are still going up, so any savings on a lower rate might get eaten up by higher costs.

Plus, today’s rates are still pretty good when you look at the bigger picture. Even if they’re higher than the rock-bottom lows, they’re still low compared to past decades. Locking in a rate now means you get predictable monthly payments, which is great for budgeting.

And don’t forget personal reasons – job stability, family needs, and life plans are way more important than holding out for a slightly better rate.

In short, buying now could be a smarter move than waiting for ultra-low rates that won't likely return.