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Build a buying plan without requiring a return to 3% rates

Eric’s short challenges the idea that a purchase only works if mortgage rates return to pandemic levels. The practical step is to compare available terms with your budget, while keeping the option to wait.

By Eric Hamilton · Published October 6, 2026

Originally uploaded September 2, 2026 · 0:31 · Watch on YouTube

Written companion added October 6, 2026. Adapted from Eric’s video captions with source checks; not a word for word transcript. The recording retains its original date.

Avoid turning one rate into a requirement

If 3% is the only rate in your plan, ask what it represents: a desired payment, a borrowing-cost limit or comfort with the purchase. A lower price, different down payment or more time to save may address that need.

Keep forecasts separate from the budget

The recording calls roughly 6% the new normal. That is a viewpoint, not a dependable forecast. Mortgage rates reflect changing expectations, bond-market conditions and lending costs. No single level is guaranteed for the foreseeable future.

Compare buying and waiting honestly

Run a current payment including taxes, insurance and other housing costs. Also assess what waiting could improve or cost. Proceed only if the purchase works without promised appreciation or a future refinance.

Is waiting for lower rates always a mistake?

No. Waiting may fit your savings, income stability or moving plans. A forecast alone should not decide.

Sources and scope

Published September 2, 2026. The rate level discussed is historical commentary, not a current quote.

  1. Fannie Mae: What determines a 30-year mortgage rate? Accessed October 6, 2026
  2. CFPB: Figure out how much you want to spend Accessed October 6, 2026

General education, not a loan quote, approval or an individual recommendation. Ask the appropriate professional about your situation.

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