Is Now A Good Time To Buy Your Dream Home?

Stéphane Renevier

6 months ago4:54 mins

Is Now A Good Time To Buy Your Dream Home?

US homebuyers have been in a buying frenzy since the Covid recovery, with homes in formerly hard-to-sell markets drawing fierce bidding wars. But with a recent push higher in mortgage rates and more to come, it begs the question: should you jump in while borrowing costs are still relatively low, or hold off till home prices start to slip? Let’s take a look.

What’s been happening in the real estate market?

It’s not been pretty: US mortgage rates have just seen their biggest three-month gain since 1987, with the 30-year fixed rate – the most popular among US homeowners – rising from just above 3% in February to 5%.

The impact on household budgets is real: new homeowners have to shell out $420 more a month for a median-price home (roughly $405,000), at a time when food and gas prices are

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