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Chart showing mortgage rate trends from 2021 to 2026
Buying a home is one of the biggest decisions most people make. So, is now a good time to buy? The answer isn’t just “yes” or “no.” Instead, you should look at facts, trends, and your own situation. Let’s break it down in a simple way.
Mortgage Rates Are Lower Than a Year Ago
First, mortgage rates matter a lot. Right now, rates for a 30-year loan are around 6%, which is the lowest they’ve been in a few years. That makes monthly payments smaller than they were when rates were closer to 7% or higher. Lower rates can help make a home more affordable.
Prices Are Growing Slowly
House prices are still rising, but the speed of growth has slowed. Some forecasts even show that prices might hardly rise in 2026. That means buyers may not face big price jumps while rates are lower.
Affordability Is Improving Slowly
When homes cost less of your income, we call that better affordability. Right now, more markets are becoming affordable because wages are increasing faster than home costs. Some reports say typical monthly payments could drop below 30% of income — a good sign for buyers.
More Homes, More Choices
There are slightly more homes on the market now than in past years. That means buyers may have more options and more time to choose. Longer days on the market sometimes lead to price reductions, too.
But It Still Depends on You
Even with lower rates and more inventory, buying a home still depends on your personal health and goals. Here’s what to consider:
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Do you have steady income?
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Do you have savings for a down payment?
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Will you be in the home for several years?
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Is this in your budget without stress?
Buying is serious — and timing the market perfectly is very hard.
Bottom Line
So, is now a good time to buy a house? The data suggests conditions are improving thanks to lower mortgage rates, slower price growth, and rising affordability. Yet, the best time to buy is when you’re financially ready and confident. Long-term homeownership can build wealth, but it must match your goals and budget.
