RALEIGH, N.C. — Sub-3% interest rates became every home buyers dream over the past few years.

Now as rates are again trending upward, real estate experts say there are still options in the current market.

What You Need To Know

  •  Eighty-two percent of home owners feel trapped in their current low interest rates, according to realtor.com

  •  Rates are beginning to rise above 6% and higher

  •  A decline in available home inventory could soon lead to increased prices

“The truth is, waiting for interest rates to drop could cost you more in the long run," said Kat Litsas, a Raleigh real estate agent.

Litsas has lived in North Carolina for over 20 years.

As a real state agent, she’s seen the market fluctuate. Especially now, as current home owners who are looking to sell say they are waiting for rates to hopefully drop again.

"Don’t let fluctuating interest rates hold you back," Litsas said. "By locking in a rate now and taking advantage of the current market conditions could save you money and enjoy the many benefits of homeownership sooner rather than later.”

With 56% of sellers and buyers telling realtor.com they are waiting for rates to come down. Litsas says, "marry the house, date the rate."

“Buy your house and you can always refinance your mortgage when interest rates do go down," Litsas said.

Brian Grubbs, president and CEO of Raleigh Mortgage Group, says buyers need to take advantage now, because there are tons of pre-qualified people waiting for rate drops.

“Then you have to offer above-asking price. You’ve got to come in stronger. You’ve got 20 people all showing up to buy the one house up for sale," Grubbs said. "Right now is a unique opportunity to jump in the market and get a property, and start gaining wealth.”

Grubbs says the people who do currently have 2% and 3% rates also gained a ton of equity in their homes that can help them.

“They are the people who have benefited from the last several years when there's been a super rise in property value," Grubbs said. "They can take the money from the sale of their property, pay off their debt, do a substantial down payment. The cost of admission is just a little higher interest rate.”