Mortgage rates haven’t come down, straining some borrowers

On top of that, most 2-1 rate buydowns have expired, leaving borrowers to either face financial strain head on, or consider other options like taking out an adjustable-rate mortgage (ARM) or purchasing discount points.

Rate predictions went awry

Mark Worthington, a Bend, Oregon-based branch manager for Churchill Mortgage, says that clients were misled by loan officers who thought they could “predict” rates, leading them to push their budgets.

“I equate buying a house with a lot of analogies. But if you have to convince yourself that the person you’re dating is great, and then you think to yourself, ‘Yeah, but … ,’ that’s not somebody you should date long term, right?” Worthington said, offering a different perspective on the phrase. “And yet, we wouldn’t…