High Mortgage Rates? Here's Why Renting Wins Right Now

If you've looked at buying a home lately, you've probably felt the sticker shock. And it isn't just home prices. It's the cost of borrowing.

The average 30-year mortgage rate was 7.18% in early November 2026, according to Freddie Mac. A year earlier it was 6.22%. In early October it touched 7.4%, the highest level in nearly three years.

What does that mean for your budget? The National Association of Realtors puts the typical mortgage payment on a median-priced single-family home at $2,251 a month in the third quarter of 2026. That assumes 20% down, which on a $432,900 median home comes to $86,580 before you get the keys.

Renting skips all of that. No down payment, no closing costs and no betting on where rates go next. You get a clean, comfortable home now and keep your savings working for you.

And if rates come down later? Great. You'll be ready to buy on your terms, not because you felt rushed.

Until then, check out our available homes and find a place that fits your life and your budget.

Sources: Freddie Mac weekly mortgage survey, as reported by the Associated Press (Nov. 5, 2026); National Association of Realtors, Q3 2026 metro home prices report (Oct. 29, 2026).