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Compare waiting with buying, using more than a target rate

This video asks buyers to consider the tradeoffs of waiting for a particular mortgage rate instead of treating waiting as financially neutral.

By Eric Hamilton · Published October 6, 2026

Originally uploaded September 10, 2026 · 1:14 · 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.

Use the survey in context

Neighbors Bank’s July 2026 survey found that 72% of potential buyers had delayed their search, with an average wait of 13 months. This describes respondents, not a forecast or a reason every buyer should act. Your timeline depends on your finances, expected stay and available homes.

Do not treat a median price change as your lost equity

Mainstreet REALTORS reported a 7% annual increase in the median price of suburban Chicagoland detached homes for July 2026. That does not mean each home appreciated 7%. Applying it to a hypothetical $400,000 property gives $28,000, but not a verified loss from waiting.

Compare several possible paths

Model buying now and waiting with different prices and rates. Include rent, savings, ownership expenses and transaction costs. Waiting may improve your cash position or flexibility; it may also expose you to higher future costs. Avoid making either direction a certainty.

Can you calculate exactly what waiting will cost?

No. You can compare scenarios, but future rates, prices and personal circumstances remain uncertain.

Sources and scope

The survey and local report are dated observations. Their results are not current mortgage quotes or predictions of your property’s value.

  1. Neighbors Bank: July 2026 mortgage rate expectations survey Accessed October 6, 2026
  2. Mainstreet REALTORS: July 2026 suburban detached home prices Accessed October 6, 2026
  3. CFPB: Consider whether it is the right time to buy Accessed October 6, 2026

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

KEEP LEARNING

Your next questions

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A 90-day homebuying goal starts with preparation

Use the video's five steps as a preparation sequence: review finances, choose a comfortable budget, assemble your team, understand the local market and explain why buying fits your plans.

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