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Buying a home allows you to stabilize what’s typically your biggest monthly expense: your housing cost. If you get a fixed-rate mortgage on your home, you lock in your monthly payment for the duration of your loan, often 30 years.

Homebuyers face challenges in any market, and today’s is no exception. But if you persevere, your decision to purchase a home will be worth the effort in the end.

With a limited supply of homes available for sale and both prices and mortgage rates increasing, it can be a challenging market to navigate as a buyer. But buying a home sooner rather than later does have its benefits.

In addition to building your overall net worth, equity can also help you achieve other goals like buying your next home.

Several industry experts weighed in on where rates might be headed going forward. Here are some of their forecasts.

The percentage of people planning to buy over the next six months has increased substantially since last fall.

Price increases won’t be as monumental as they were in 2021 – but they certainly won’t decline anytime soon.