Should I buy now or wait for mortgage rates to drop in 2026?

Buying now or waiting for rates to drop both carry a real cost, since waiting means continuing to pay rent while betting on a future rate that isn't guaranteed, and a lower rate later often brings more competition and higher prices right along with it. Buying now and refinancing later if rates fall is one way to hedge that bet. Brian Beatty can weigh both paths against a specific buyer's situation.