Should You Buy a Home When Interest Rates Are High? The Honest Answer for 2026 The 30-year mortgage rate dropped to 6.47% as of June 18, 2026 — but experts say it is staying flat at best for the rest of the year, with the Fed now signaling a potential shift toward rate hikes rather than cuts. So do you buy now or wait? Here is the complete pros and cons breakdown — with the CPA take on the numbers that actually matter. Quick Answer: The 30-year fixed mortgage rate is currently averaging 6.47% as of June 18, 2026 — and after the Fed's June 16–17 meeting, expectations for any rate cut have essentially vanished, with the door now open to potential rate hikes later in 2026. Fannie Mae forecasts 6.3–6.4% for the rest of the year. Rates are not dropping to 3% or 4% anytime soon — that era is over. Whether you should buy depends on four specific questions about your finances, not on whether rates might dip 0.25% by December. This post gives you the...