Something I'm seeing more of right now, and it concerns me.

Builders are offering mortgage rate buydowns to make new construction pricing look more attractive. A 7% rate becomes 5.5%, sometimes lower, for the first year or two.

The problem is what happens after. If a buyer can't actually afford the home at the real rate, the buydown just delays that reality. When the rate adjusts and buyers are counting on rates dropping to bail them out, that bet doesn't always pay off.

We're already seeing short sales tied directly to this pattern.

If you're buying new construction, run your numbers at the actual rate, not the promotional one. The incentive should make a good decision better, not make an unaffordable one look temporarily fine.