If you’re currently enjoying a 3% mortgage rate, it’s completely natural to feel reluctant to part with it. Even if the idea of moving has crossed your mind, that unbeatable rate might be the reason you’ve hit pause. But here’s an important perspective: people don’t move because of their mortgage rate—they move because their needs evolve.

So instead of asking, “Why would I give that up?” consider this:

What are the chances you’ll still be living in your current home five years from now?

Take a moment to envision your life in the next few years. Are you expecting your family to grow? Are your adult children heading off on their own? Are you thinking about downsizing as retirement approaches? Maybe your current home already feels a bit too cramped (or maybe too big). If any of these changes are on the horizon, now is a great time to reflect on what the next chapter of your life might require.

If your lifestyle and housing needs are unlikely to shift, staying put could be the right decision. But if there's even a slight chance a move is on the horizon, it’s worth considering how timing could impact your options.

Because even a short delay—say a year or two—can significantly affect what your next home might cost.

What Experts Forecast for Home Prices in the Next 5 Years

Each quarter, Fannie Mae surveys over 100 housing market experts to get a sense of where home prices are headed. And the message is consistent: home prices are projected to continue rising through at least 2029.

While these forecasts don’t predict dramatic jumps year after year, they do point to steady upward growth. Some local markets may experience slower appreciation, or even brief declines, but the long-term trend remains upward. Waiting, even just a few years, could mean paying significantly more for your next home.

Here’s a real-world scenario: if you're planning to purchase a home around the $400,000 range and you wait five years, housing experts suggest you could be looking at a price tag closer to $480,000. That’s nearly $80,000 more for the same property.

So, while staying in place may feel like the financially conservative choice, it might not be the most cost-effective one in the long run.

Is the Return of 3% Mortgage Rates Likely?

Another factor to consider is interest rates. Yes, they may come down slightly—but experts agree that the historically low 3% rates we saw a few years ago aren’t coming back anytime soon. Holding out for that rate could mean missing out on the opportunity to buy a home that better suits your needs—at a better price than you'll find down the road.

So, instead of asking yourself, “Why would I move?” it may be more helpful to ask, “When should I move?” When you run the numbers and consider your personal goals, you may find that waiting doesn’t offer the savings you anticipated. That’s where a trusted real estate professional can help guide you through the math and timing.

Bottom Line

Hanging on to a low interest rate makes sense—until it starts holding you back from living the life you want. If a move is something you see in your future, even a few years down the line, now is the time to start planning. Understanding the financial landscape today can empower you to make a confident, informed decision about your next steps.

Want to see how this scenario plays out at different price points? Reach out to Mike Panza and the team at Panza Home Group to start a conversation. They’ll help you make sense of the numbers and explore your options. Visit https://panzarealestate.com/team/mike-panza to connect with Mike today.