Are you thinking about hitting a pause on your home search until mortgage interest rates drop? Think again!

In this video, San Diego Realtor Kobe Blankson shares three major disadvantages of waiting for lower mortgage rates.

Don't miss out on this must-watch advice from a real estate expert. Learn why waiting for lower interest rates may not be worth it and how you can get lower rates now.

The temptation to wait for lower interest rates can be strong but it might not be worth it. Here's what you need to know before you hit pause on your home search. My name is Kobe Blankson.

I'm with Whissel Realty Group and here are three disadvantages of waiting for mortgage interest rates to drop. Number one, missed opportunities, from January to March. Home values here in San Diego have increased 10%. That means for a $500,000 home it's appreciated $50,000 and for a million dollar home it's gone up a hundred thousand dollars. Where else could you earn 50 to a hundred thousand dollars in just three short months? And if you wait too long, you may find that the real estate market has become more competitive or the properties available aren't as desirable or affordable as they previously were. Number two, unpredictability. Mortgage interest rates can be very unpredictable and can change very quickly. So if you're waiting for interest rates to drop there actually is no guarantee that they will and could possibly even rise, which would make your mortgage interest payment even more expensive. Number three, time sensitive transactions, you may miss out on a transaction such as a property that is being sold quickly or a seller who's only accepting offers for a limited time. When waiting for mortgage rates to drop, you could miss out on these opportunities, which could potentially cost you in the long run, if it's lower interest rates that you want.

Now hit my line and let's discuss about how I've been helping people be able to get lower interest rates in this moment. I'm Kobe Blankson, Whissel Realty Group.