We talk about one of the most common questions homeowners ask when rates start moving: “Should I refinance now… or wait, because rates might get better?”

And here’s the twist: waiting can absolutely pay off… but it can also quietly cost you money every single month you delay.

So in this episode, I’m going to break down the cost of waiting to refinance your mortgage using a simple real-world example, and I’ll give you a clean way to think about the decision without guessing or getting lost in the headlines.

A lot of long-range forecasts tie mortgage rates to the 10-year Treasury, because they usually move in the same direction. Most economists are projecting the 10-year Treasury to stay a little over 4% over the next several years, and mortgage rates typically run a spread above that. When you combine those two, the expectation is that 30-year fixed rates may hover around the low-to-mid 6% range over the next five years, rather than dropping dramatically.

Now, that’s not a guarantee, because rates can change quickly if the economy shifts, inflation changes, or there’s a major event like a recession. But the big takeaway is: waiting for a perfect rate can be risky. If the home and payment make sense today, the strategy is often to negotiate the best terms possible now and stay positioned to refinance later if rates improve.

This episode explains how buying a second home can be both a lifestyle upgrade and a long-term wealth strategy. It walks through the idea of using the home part-time while renting it out as a short-term rental when you are not there, which can help offset the monthly cost of ownership and, over time, contribute to building net worth through equity growth and potential appreciation.