Should You Wait for Mortgage Rates to Drop in Michigan?

One of the most common questions I hear from homebuyers and homeowners here in Clarkston, Michigan, is: “Should I wait for mortgage rates to drop before I buy or refinance?” It’s a fair question—especially when headlines are filled with speculation about what the Federal Reserve might do next.

Rates Are High, But So Is Opportunity

Yes, rates are higher than we’ve gotten used to over the past decade. But here’s what many people overlook: today’s market also comes with unique advantages.

• Less competition: Buyers who step in now often face fewer bidding wars compared to the frenzy of 2021–2022.
• Negotiation power: Sellers are more open to concessions, repairs, or even price adjustments.
• Equity growth: Michigan home values continue to show resilience. Owning now means building wealth while waiting for rates to improve.

Marry the House, Date the Rate

There’s a saying in real estate: “Marry the house, date the rate.” The idea is simple—you can lock in the home you love today and refinance to a lower rate later when the market shifts. Thanks to programs like our Mortgage Under Management (MUM) system , we track your loan and alert you when a refinance makes financial sense—so you never overpay for your mortgage.

Clarkston and Michigan Market Snapshot

Locally, the Oakland County housing market is still moving. Families are relocating for schools, jobs, and lifestyle upgrades, keeping demand steady. Waiting on the sidelines could mean missing out on both the right home and long-term equity growth.

So, Should You Wait?

The truth is: timing the market perfectly is nearly impossible. Instead of waiting for the “perfect rate,” focus on finding the right home and payment plan that fits your life today. With the right strategy, you’ll be in a strong position whether rates drop next month—or next year.

Let’s Talk About Your Options

If you’re wondering whether now is the right time for you personally, let’s connect. I’m based right here in Clarkston, Michigan, and I’d be happy to walk through your numbers, your goals, and your best path forward.

Click here to schedule a quick call and let’s see if now is the right time to move forward.