I heard something on the On the Market podcast this week that I think every would-be homebuyer sitting on the sidelines should hear.
JPMorgan recently announced plans to deploy more than $750 BILLION into housing and homeownership through 2035.
Not $750 million. $750 billion.
Their plan includes helping finance the construction or preservation of 1 million affordable homes and helping 500,000 people purchase homes.
So why am I talking about what JPMorgan is doing?
Because I pay attention to where big, sophisticated financial institutions are placing their long-term bets.
JPMorgan has access to enormous amounts of economic data, research and forecasting. They aren’t making a commitment of this size based on what mortgage rates might do next week. They’re looking years down the road.
And they’re making a very large bet on American housing.
That’s the part I think buyers should pay attention to.
Right now, it’s easy to find reasons to wait.
Rates are higher than they were a few years ago. Affordability is challenging. There’s economic uncertainty. And a lot of buyers are waiting for the market to feel more comfortable.
But here’s the problem:
By the time buying feels comfortable again, everyone else may feel comfortable too.
If rates improve and buyers come back into the market, today’s negotiating power could quickly turn into more competition, multiple offers and potentially higher prices.
That doesn’t mean JPMorgan knows exactly what’s going to happen. Nobody does. And it certainly doesn’t mean everyone should run out and buy a house tomorrow.
But I do think their investment reinforces something I’ve been telling my clients for a while:
Don’t wait for the headlines to give you permission to buy.
If you can comfortably afford a home today, you’re planning to own it for the longer term, and we can structure financing in a way that makes sense, this may be a very interesting time to be a buyer.
And that’s where I come in.
As an independent mortgage broker, my job is to look at your individual situation, explore different lenders and loan programs, and help you determine whether buying right now actually makes financial sense for you.
Sometimes the answer may be, “Not yet.”
But sometimes buyers are surprised by what we can put together — and by the opportunities available in a market where so many other buyers are still waiting.
And remember: if rates improve later, we can look at refinancing.
You may be able to change your interest rate later.
You can’t go back in time and buy today’s house at today’s price or negotiate today’s deal once the market changes.
So if you’ve spent the last year or two waiting for the “right time,” maybe the better question isn’t:
“Should I keep waiting?”
Maybe it’s:
“What would buying look like for me right now?”
That’s where I can help.
Call me and let’s run the numbers. There is absolutely no obligation to buy. I’ll help you understand what you could qualify for, what the payment might look like, and what financing strategies may be available. Then you can make an informed decision about whether it makes sense to move now or keep waiting.
JPMorgan’s $750 billion commitment doesn’t tell us exactly where housing is headed.
But when one of the largest and most sophisticated financial institutions in the world is making a long-term bet of that size on housing, I think it’s worth paying attention.
And if you’re wondering whether there’s an opportunity for you in today’s market, call me. Let’s find out.
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