Should You Wait for Interest Rates to Drop Before Buying on Long Island?

Everyone thinks waiting is safe.
But here’s what actually happens when rates drop:

1. More Buyers Enter the Market

Demand spikes instantly.

2. Prices Increase

Low rates → higher prices.

3. You Lose Negotiation Power

Less inventory + more competition = bidding wars.

4. Your Monthly Payment Doesn’t Always Drop

Higher purchase price often cancels out the lower rate.

FINAL WORD

If you can afford a home now, don’t wait for a perfect rate — lock in the home, then refinance later.

If you want a real analysis of whether NOW is the right time for YOU:

📲 Message Jeffrey Jimenez — Top Long Island Realtor, The Jimenez Team @ eXp Realty for a free Buying Strategy Session.

 Licensed Real Estate Salesperson