Don’t Let a 3% Mortgage Rate Hold You Back

Don’t Let a 3% Mortgage Rate Hold You Back from Your Next Home

Many homeowners in California’s East Bay are sitting on rock-bottom 3% mortgage rates. It’s a point of pride – you secured a fantastic rate! But while that low rate is valuable, it shouldn’t become a roadblock if your needs or lifestyle change.

Life moves on, and homes should fit our lives, not hold them back. Take heart if you feel like your current home no longer suits (maybe you’re an empty-nester ready to downsize, or a growing family needing more space). You have options.

The Cost of Waiting 

Experts project that home prices will rise steadily for years to come. What does this mean for you? Essentially, the longer you wait to make a move, the more you might pay for that next house. On the flip side, moving sooner lets you purchase at today’s prices and start building equity in a new home before prices climb further.

Your Life Comes First

It’s understandable to be attached to a 3% mortgage – that’s a fantastic rate. But remember, a mortgage rate is just one factor in your housing happiness. Perhaps a single-story home or a location closer to family would make life easier. Those quality-of-life benefits can far outweigh the difference in interest rate over time.

Keep in mind you’re not stuck with a higher rate forever. You can always refinance later if rates dip. The key takeaway is that a smart move supports your life. Don’t let a low rate lock you into a home that is no longer right for you.

What's Next?

If you’re debating your next step, reach out to Monica today. She knows the market and can help you weigh the options and timing.