“I understand, that makes sense. So, today the rates are higher than you’d like. What you’re thinking is - you’d like to wait until rates come down, and then you’ll get back in the search. Is that right?”
(If 'yes')
“Out of curiosity, what rate were you quoted when you talked to your lender? If I could help you get with a lender who could get you a rate or a payment that is acceptable to you today, would you still want to move forward? I have a great local lender who has great rates. Let me get you in touch with them, and let’s see where we land.”
(If they are firm in their rebuttal of high rate)
“Yeah, I understand that. That’s exciting that you’ve talked to several lenders and that you are qualified, and I understand that rates and prices are higher than you would like them to be. Let me ask you a question - do you think that there are other people like you, that would love to buy a house today if homes were more affordable?"
(If 'yes')
“When rates come down, do you think there will be more people looking to buy homes or less people looking to buy homes?"
('More')
“So obviously it will be more competitive in that market. When things get more competitive, what happens to the prices?”
('They go up')
“If you do wait for rates to come down like many people are, what that means is - you may get a lower interest rate, but it will likely be on a more expensive home. So, there’s a world where it’s kind of a wash. What smart money does today is they buy now, knowing that it’s very likely that rates will go down in the future and prices will go up, so you lock in today’s price and then you can refinance in the future when rates do come down. So you’d get the best of both worlds! It’s a trade off, but it’s one that a lot of people are making."