If you’ve been thinking about buying a home, you may have noticed some unsettling headlines lately: mortgage rates are climbing again, with 7% back in sight.
Take a breath.
Yes, rates matter. But a rising mortgage rate doesn’t automatically mean you should put your home-buying plans on hold. For physicians and other medical professionals, the better question is:
Does buying a home make sense for you right now, based on your finances, career plans and the home you want to buy?
Where are mortgage rates right now?
As of the week ending September 4, 2026, Freddie Mac reported the average 30-year fixed mortgage rate at 6.71%, up from 6.66% the previous week and 6.50% a year ago. Daily rate tracking has put some borrowers even closer to 7%.
That’s certainly higher than the rates many buyers became accustomed to during the pandemic-era housing market.
But here’s the thing: waiting for the “perfect” mortgage rate can be a risky strategy.
Rates can move up. They can move down. And they can change quickly based on inflation, Treasury yields, economic data and expectations around Federal Reserve policy.
You can control your home-buying decision. You cannot control the mortgage market.
So, should you panic?
No. But you should run the numbers.
A mortgage rate is only one piece of the home-buying equation.
Consider these five questions before deciding whether to move forward:
1. Can you comfortably afford the monthly payment?
Don’t focus only on the interest rate.
Look at the full monthly housing cost, including principal, interest, property taxes, homeowners insurance, HOA fees and any mortgage insurance that may apply.
Your goal isn’t to get the lowest possible rate. It’s to have a monthly payment that fits comfortably within your overall financial plan.
2. How long do you plan to stay in the home?
If you’re buying a home you’ll likely live in for several years, today’s rate may matter less than the long-term value of the purchase.
And remember: a mortgage isn’t necessarily a forever rate.
If rates fall substantially in the future and your financial situation makes it worthwhile, refinancing may be an option. That isn’t a guarantee, and you should never buy a home assuming you’ll be able to refinance, but it is one reason today’s rate doesn’t have to define the entire life of your homeownership journey.
3. Are you comparing lenders?
This is especially important when rates are elevated.
Don’t assume every lender will offer you the same deal. Freddie Mac research has found that borrowers can potentially save $600 to $1,200 per year by applying with multiple lenders when rates are higher.
For physicians, this is particularly important because your financial profile may not look like the average borrower’s.
You may have significant student loans, a high income, a short employment history after residency, or a compensation structure that includes bonuses or other income. A lender experienced with medical professionals may have loan options designed around those realities.
4. Could a different home price make more sense?
When rates rise, your purchasing power changes.
Instead of focusing on the maximum home price a lender says you qualify for, work backward from the monthly payment you actually want.
Sometimes that means adjusting the price range.
Sometimes it means considering a different down payment.
And sometimes it means looking at physician-specific mortgage programs that may offer more flexible down-payment or underwriting options.
The right strategy isn’t necessarily “wait until rates drop.” It may be “find the right loan and the right home at a payment that works for you.”
5. Are you buying because you’re ready, or because you’re afraid of missing out?
This one matters.
Don’t rush into a home because you’re worried rates will hit 7%.
But don’t put off a home that genuinely fits your financial and personal plans simply because you’re waiting for a rate that may or may not arrive.
For a resident finishing training, a physician relocating for a new position, or an established doctor looking for a long-term home, the timing of your career and life may matter just as much as the mortgage market.
Our Curbside consult:
Mortgage rates near 7% are worth paying attention to. They’re not a reason to panic.
The housing market isn’t a crystal ball. Nobody can tell you exactly where rates will be six months or two years from now.
What you can do is understand your options, compare lenders, get clear on your comfortable monthly payment and make a decision based on your own financial picture.
And if you’re a medical professional, you don’t have to navigate that process alone.
At Curbside Real Estate, we help medical professionals connect with experienced real estate and lending professionals who understand the unique financial realities of a career in medicine.
Because the goal isn’t to buy when the market is perfect.
It’s to buy when the decision is right for you.
**Mortgage rates change frequently. This blog post is for informational purposes only and is not intended as financial or real estate advice. Consult with a professional advisor before making any significant financial decisions.