Date the Rate, Marry the Home? Let’s Talk About It.
The Keri Edit | September 2026
If you’ve looked at a mortgage payment lately and thought, “Wait, what?” you are not alone. Many of us got used to the unusually low rates of a few years ago. Today’s borrowing costs can feel jarring by comparison, especially when you are shopping for a home in San Diego. Whether you’re considering Carmel Valley, Del Mar, Solana Beach, Encinitas, Rancho Santa Fe, or San Diego’s Metro Area, the monthly payment deserves as much attention as the listing price.
I recently heard the phrase “Date the rate, marry the home.” I understand why it resonates. A mortgage can potentially be changed later; the right home, in the right location, may be harder to find. But I want to add an important Keri Edit: fall in love with the home only if the numbers work for your life today. A future refinance is a possibility, not a promise.
What can buyers do about a higher rate?
Explore a permanent rate buydown. You may be able to pay discount points at closing to secure a lower interest rate for the life of the loan. In some transactions, you can negotiate for the seller to contribute toward that cost, subject to the loan program’s rules. The key question is whether the upfront expense is worth the monthly savings for the length of time you expect to keep that mortgage. Ask your lender to show you the cost, the payment difference, and the break-even point in writing.
Ask about a temporary buydown. A program such as a 2-1 buydown lowers the effective payment rate by two percentage points in year one and one percentage point in year two. In year three, payments are based on the full note rate for the rest of a fixed-rate loan’s term. Funds are set aside up front to cover the early payment difference; the terms and who can fund it depend on the loan program. It can ease the transition into homeownership, but you need to be comfortable with the full payment when the temporary benefit ends. Your lender can also explain which payment is used to qualify you.
Consider the whole offer, not just the rate. Depending on the property and seller, we may be able to negotiate a credit toward closing costs or a buydown. Sometimes a lower purchase price serves you better. We can compare those scenarios with your lender instead of assuming that one strategy always wins.
Keep refinancing on the radar. If rates fall later and you qualify, refinancing could replace your current mortgage with a new one at better terms. It also comes with costs, and a lower monthly payment does not automatically mean a lower total cost if you restart a longer loan term. Rates may stay where they are or rise. I would never want you buying a home that only feels affordable if a refinance happens on schedule.
My advice? Start with your real monthly number.
Before we tour homes, let’s look beyond principal and interest. Property taxes, insurance, HOA dues, maintenance, and your day-to-day life all matter. Then let’s have a trusted lender run side-by-side estimates: your standard loan, a permanent buydown, a temporary buydown if available, and any realistic seller-credit options.
That is how you move from a scary headline to a decision grounded in your own finances.
The right home can absolutely be worth pursuing in a higher-rate market. I just want you to walk through the door knowing both what you love about it and what it will cost you to live there—today, and after any temporary payment relief ends.
Thinking about making a move in San Diego? From the coastal communities of Del Mar, Solana Beach, and Encinitas to Carmel Valley, Rancho Santa Fe, and the Metro Area, I’d love to help you find a home you love and understand the payment and financing options that make sense for you.
— Keri
