If you're one of the fortunate homeowners with a 3% mortgage rate, it’s completely understandable to feel hesitant about giving that up. After all, it’s a historically low rate and a powerful financial advantage. Even if you've entertained the idea of moving, a quiet, persistent question may still be holding you back: "Why would I let go of something so good?"
That question is fair, but it might also be causing you to overlook something more important: how well your home is serving your life right now, and whether it will continue to do so in the years ahead.
Most people don’t move because of their mortgage rate. They move because their needs, goals, or circumstances change. So instead of asking what you might lose by moving, consider asking:
What are the chances you’ll still be living in your current home five years from now?
Take a moment to picture what the next several years might look like.
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Will your household be growing or shifting?
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Is retirement on the horizon - or already here?
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Do you dream of more space, better flow, elevated finishes, or a location that better reflects your lifestyle?
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Are you already feeling like you’ve outgrown your current layout, or simply ready for a change?
If nothing major is expected to change, and you’re genuinely fulfilled where you are, staying could be a perfectly sound decision. But if you anticipate even the possibility of a move - whether in 12 months or three years - it’s worth mapping out your timeline sooner rather than later.
Why? Because time has a compounding effect in real estate. And waiting, even with the best intentions, can come with a cost.
What Rising Home Values Could Mean for You
Each quarter, Fannie Mae consults with over 100 top housing market experts to forecast home price trends. While no projection is perfect, the consensus is clear: home prices are expected to steadily increase through at least 2029.
Let’s look at a conservative five-year projection based on current expert data:
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A $700,000 home today is anticipated to cost approximately $840,000 in five years.
That’s a $140,000 increase - without accounting for added competition or changes in inventory.
Even modest annual growth can create a dramatic shift in buying power. And if you’ve been eyeing specific neighborhoods, school districts, or features like luxury kitchens, indoor-outdoor flow, or mountain views, the longer you wait, the more likely it is that your ideal home will become harder to access - or simply more expensive.
What About Interest Rates?
Yes, mortgage rates are higher now than they were during the pandemic lows, and they may drop slightly in the coming year or two. However, leading economists agree we’re unlikely to return to the days of 3% fixed rates. Waiting for both prices and rates to drop may not be a realistic strategy.
In most cases, the price increases over time far outweigh the potential monthly savings from a slightly lower interest rate later. That’s why for many higher-end buyers, the smarter financial move is to purchase when the right home becomes available, even if rates aren’t ideal - then refinance later if and when the opportunity arises.
So the question isn’t “Why would I move?” It’s “When should I?”
Your 3% mortgage rate has served you well. The question now is whether it’s also keeping you tethered to a home that no longer fits. If your future is calling you to something different - a larger home, a better location, a layout that suits your lifestyle - it may be time to explore your options before the cost of waiting grows steeper.
Bottom Line
Holding on to a low mortgage rate makes perfect sense until it starts holding you back. If a move is on your horizon, whether this year or in the next few, let’s evaluate the numbers now. I can show you exactly what price appreciation may look like at the $700,000+ level, how the math adds up over time, and whether it might be wise to take the next step sooner than expected.
