If you’ve got a 3% mortgage, it’s probably the golden handcuff that’s kept you from seriously thinking about moving. I get it – nobody wants to trade a low rate for a higher one. But here’s a better question to ask yourself:
Will this house still make sense for you in 3 to 5 years?
Think about what life could look like a few years down the road. Are you running out of space? Thinking about downsizing? Planning to retire, change school districts, or finally get that home office that doesn’t double as a guest room?
Here on the North Shore – whether you’re in Glencoe, Northbrook, Deerfield, Highland Park, or Wilmette – lifestyle changes are the #1 reason people move. Not mortgage rates.
And if you’ve got a move on your radar in the next couple of years, it’s worth running the numbers now.
Here’s Why Timing Matters
Fannie Mae surveys 100+ housing experts every quarter, and here’s the general consensus: home prices are expected to keep climbing through at least 2029.
The increases may not be dramatic year to year, but they add up fast. Let’s say you’re eyeing a $900,000 home in Northbrook or Wilmette. If values rise around 4% annually – which is what many experts project – that same house could cost $150K+ more five years from now.
At the same time, even though mortgage rates may come down slightly, the days of 3% are behind us. Most forecasters expect rates to settle closer to 5.5–6% over the next couple of years – not 3%.
So if you're banking on rates dropping dramatically to make your next move pencil out, it's probably time to rethink that strategy.
The Bottom Line
Hanging on to a low rate makes total sense – until it starts holding you back from the next chapter in your life.
If a move is likely, even if it's not this year, let’s have a conversation now. I’ll show you how the numbers stack up at your price point so you can make a well-timed decision – not a rushed one.
Want to see how the math looks in Glencoe? Highland Park? Wherever you’re thinking next — let’s run the numbers together.
