It’s tempting to sit on the sidelines and wait for mortgage rates to drop—but doing so could cost you more than you think.

Let’s break it down using today’s numbers. The current median home price in Nebraska is $307,600. With 10% down and a 30-year fixed rate at 7% (APR 7.10), your loan amount would be $276,840. That puts your monthly principal and interest payment around $1,841.82.

Now imagine you wait a year. National forecasts suggest home prices will appreciate about 2.8%. That means the same house could cost $316,213 next summer. If rates drop to 6% (APR 6.10%)—as some experts anticipate—and you still put 10% down, your loan would be $284,591, with a lower monthly payment of $1,706.27.

That’s a $135/month savings—but let’s look closer.

By waiting:

• You’d need $862 more in down payment
  
• You’d borrow $7,751 more
  
• You’d miss out on $8,613 in home appreciation
  

Even after factoring in the average refinance cost of $2,781, a buyer who purchases now could be $5,832 ahead—and will owe less on the loan than someone who buys next year at a higher price.

Why? Because when you refinance, you’re not financing the 90% loan-to-value on the higher home price—you’re simply adjusting the rate on the loan you already took out. That means you’ll still owe less than someone who waited and paid more.

And let’s not forget competition. When rates drop, buyers flood the market. Inventory tightens. Bidding wars return. Prices often jump more than expected. If you wait, you could face multiple offers, fewer choices, and faster appreciation—making affordability even tougher.

Meanwhile, today’s buyers can negotiate, capture equity, and refinance later if rates drop—while enjoying the benefits of homeownership now.

Sometimes the smartest move isn’t about timing the market—
It’s about being in it.