[hibikir]

It's the other way around. If you think 3% is normal, you buy now and refinance while people think that the house is unaffordable. Remember that lower interest rates make home prices go even higher!

If you think it will stay at 7%, that 3% loan you already have is a treasure to keep using for a decade or two.

[Esophagus4]

I would have agreed, but in reality, higher rates haven’t improved affordability.

Instead, high rates plus economic uncertainty has reduced supply significantly because no one wants to sell.

Maybe lower rates will make prices even more unaffordable, which would make this a low period by comparison, but if you look at home price to income numbers, they’re still near record highs.

Maybe it means: if you think the line is always going up and to the right, today is the best day to buy, but that’s a weird way for me to think of a house, which I still kind of see as a consumable good rather than an investment vehicle.

[sqircles]

At 2.25% I'm not sure it will ever make financial sense for me to move. Upsides and downsides to that.

[delfinom]

Yep, it's insane that people think 3% loans will magically fix the housing market. It's beyond delusional that they refuse to accept it accelerate home price increases and bidding wars.