Buying a home at a 7% interest rate rather than waiting for rates to potentially decrease while prices rise can be advantageous for several reasons. Firstly, locking in a mortgage at 7% ensures a fixed cost of borrowing over the loan term, shielding buyers from future rate increases that could occur if they wait. In a rising interest rate environment, delaying the purchase could mean higher monthly payments and increased overall borrowing costs. Additionally, property prices typically appreciate over time, especially in stable or growing markets. By purchasing now, buyers can secure a property at a potentially lower price point compared to waiting when prices may escalate further. Moreover, owning a home provides the opportunity to build equity and benefit from potential tax advantages sooner rather than later. Overall, while lower interest rates are desirable, the combination of current mortgage rates and housing market conditions may still make purchasing a home at 7% interest rate a financially sound decision.