When rates are high, it’s no surprise that home buyers are wary of making a purchase. But potential home buyers shouldn’t give up! According to Holden Lewis from NerdWallet, “The housing market finally might be friendlier to buyers in 2023. Mortgage rates could fall, and home prices might decline in some places.” The potential of the market getting better for those looking to purchase is encouraging, but we recognize that buyers may still feel nervous when it comes to home prices and interest rates. Here are some reasons not to give up your home search during times when rates are high.
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1. A slower market means less competition
When rates were at record lows during the Covid-19 pandemic, people who were trying to purchase homes had to contend with bidding wars. During times when inventory is low and competition is fierce, it can be hard to land the home you want. When rates are higher, people may be more wary of making large purchases. That means competition decreases, making it easier for you to purchase the home you want.
2. There’s more room for negotiation
When you aren’t concerned about outbidding someone else, you don’t have to worry about making the most competitive deal on the home you want to purchase. When sales slow, buyers have more opportunities to take sellers to the negotiating table.
3. Realtor, Mortgage, and builder deals might be better
During times when the market is slower, there may be certain incentives offered to buyers such as closing cost assistance and helpful loan options like Temporary Buydown programs. These help increase affordability for home buyers and are something to consider taking advantage of.
4. You can refinance after purchasing
Have you ever heard the saying “marry the mortgage, date the rate”? Refinancing allows you to revise your interest rate and/or other terms of your mortgage agreement, which means the rate you purchase your home at doesn’t need to be the rate you pay forever. Many people refinance to take advantage of lower interest rates and the waiting period for being able to refinance varies from situation to situation.
5. There are advantages to owning rather than renting
One of the main advantages of owning a home is the ability to build equity over time. Renovations and home improvement projects can also help to increase your home’s value, providing you and your family with more peace of mind in the years to come. Learn more about the advantages of home ownership on our Renting vs. Owning blog!
Ready to take the next step?
If you are still unsure if now is the best time to buy, don’t give up completely! There are still some things you can do so that you are prepared to buy when the timing is right for you! Stay knowledgeable about the market and visit local neighborhoods to help narrow down your dream location. You can also look at a variety of homes, from condos to townhomes to single-family homes to better understand the home layouts that work best for you and your family.
Make some notes on the things you feel like you have to have in your home and the things that can be added sometime in the future. Having some clarity on location, layout, home size, and price points in your area can help you feel ready when you find the perfect home on the market.
No matter when you decide to purchase, it’s natural to have a lot of questions about buying a home. We want to be a resource for you as you navigate this important decision. Below are some additional articles that might help you during the process of purchasing a home:
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About Acrisure Mortgage
Acrisure Mortgage (formerly FBC Mortgage, LLC) is a Top 10 national mortgage lender headquartered in Orlando, Florida. Licensed in 49 states and supported by more than 19,000 dedicated professionals across Acrisure, we specialize in residential mortgage lending through both retail and wholesale/correspondent channels. Our comprehensive offerings include purchase, refinance, construction and renovation loans—tailored to meet the unique needs of homebuyers, homeowners and partners nationwide.
We are proud to serve as a trusted partner to many of the nation’s largest homebuilders and real estate professionals, with a strong foundation of loyal, satisfied clients. Recognized for our commitment to service, innovation and operational excellence, Acrisure Mortgage has received numerous national accolades, including Top 50 Mortgage Companies, Best in Loan Delivery and Best Place to Work honors.
As part of the Acrisure family, we are backed by a global fintech leader that shares our values of innovation, integrity and service. Together, this empowers us to expand our capabilities, leverage world-class technology and resources, and grow alongside the clients and communities we serve.
All information presented is for educational purposes only and not intended as financial advice. NMLS ID#152859 EHL ©2025.
FBC Mortgage is Now Acrisure Mortgage
FBC Mortgage officially rebranded as Acrisure Mortgage on July 1, 2025. This change reflects the company’s continued alignment with its parent company, Acrisure.
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