Mortgage Rates Are Up Again. What Can Homebuyers Actually Control?

If you're hoping to buy a home this year, affordability is probably one of the biggest things on your mind.

And if you've been watching mortgage rates lately, you may be wondering whether it makes more sense to wait.

I understand why.

Mortgage rates have moved higher recently. Freddie Mac reported that the average 30-year fixed mortgage rate reached 6.95% for the week ending September 17, 2026, up from 6.76% the week before and 6.26% a year ago.

That's not exactly the direction buyers were hoping to see.

But here's something I want buyers to remember:

You can't control where mortgage rates go. You can control how prepared you are to get the best financing option available to you.

And there are several things worth focusing on.

Start With Your Credit

Your credit profile can have a meaningful effect on the mortgage options available to you.

Freddie Mac notes that lenders consider factors such as credit when determining the rate a borrower qualifies for, and a stronger credit profile can provide access to better loan terms.

If buying a home is on your radar, don't wait until you're ready to make an offer to find out where you stand.

Pull your credit, review your accounts and talk with a lender about anything that may need attention.

And if you're not quite ready to buy yet, that's okay.

Getting your finances in better shape now can put you in a much stronger position when the right home comes along.

Don't Assume There's Only One Loan Option

Another mistake I see buyers make is focusing on one type of mortgage before they know what they actually qualify for.

Depending on your situation, you may want to explore conventional, FHA, VA or USDA financing. The right option depends on your qualifications, the property, your down payment and your overall financial goals.

And don't forget that the loan isn't just about the interest rate.

Look at the entire cost of the loan.

What are the closing costs?

Are there mortgage insurance costs?

What is the monthly payment?

Are there lender credits?

Are there points?

What are the terms?

A loan with the lowest advertised rate isn't necessarily the best overall option once all of the costs and conditions are considered.

That's why I always encourage buyers to have a conversation with a trusted lender early in the process.

And honestly, it can be worth talking to more than one lender.

Think About the Payment, Not Just the Rate

I also don't want buyers to get so focused on finding a certain interest rate that they lose sight of the bigger picture.

Let's say you're waiting for rates to drop before you buy.

What happens if rates fall but more buyers jump back into the market at the same time?

You could have more competition for the homes you want.

Or maybe home prices move higher.

Or perhaps sellers become less willing to negotiate.

There's no way to know exactly what the market will do next.

That's why I think the better question is:

“Does the payment on the right home work for my budget today?”

If it does, and you're otherwise financially ready, today's rate doesn't necessarily mean you have to put your plans on hold.

Of course, you should make that decision with your lender and based on your own financial situation.

Don't Overlook New Construction

This is one area I especially want North Texas buyers to investigate.

Builders sometimes use incentives to make their homes more affordable to buyers. Those incentives can include closing-cost assistance, design allowances or temporary or permanent mortgage-rate buydowns.

And we're seeing examples of that here in Mansfield, Texas.

For example, current marketing for Coventry Homes at South Pointe in Mansfield advertises select financing with rates starting as low as 3.49% for qualifying FHA, VA and USDA loans, with the offer listed through September 30, 2026.

Bloomfield Homes is also currently advertising incentives at Somerset in Mansfield that include up to $15,000 toward closing costs or a rate buydown on certain build jobs, with additional incentives on inventory homes. That promotion is listed through September 30, 2026.

But here's the important part: don't assume every new construction home comes with the same deal.

Builder incentives can vary by community, homesite, inventory status, loan type and closing date. They can also change or expire.

And a low advertised rate doesn't tell you the entire financial story.

Ask about the APR, fees, points, required lender, loan terms and exactly which homes qualify.

New Construction Can Be Worth Comparing

I've talked with plenty of buyers who initially assume a new home will automatically cost more than an existing home.

That's not always the case.

Builders are competing for buyers just like resale sellers are, and incentives can sometimes make a new construction home surprisingly competitive.

That doesn't mean new construction is automatically the better choice.

You still need to compare:

• Purchase price

• Monthly payment

• Property taxes

• HOA costs

• Builder incentives

• Closing costs

• Included features and upgrades

• Lot premiums

• Estimated completion date

• Warranties

• What you would need to spend on an existing home to make it work for you

And there's another reason I think buyers should have their own agent involved when purchasing new construction.

The builder's sales representative works for the builder.

Having your own representation means you have someone on your side to help you compare communities, understand the contract, evaluate the numbers and navigate the process.

What About Waiting for Rates to Come Down?

This is the question I hear constantly.

And unfortunately, nobody can tell you exactly when mortgage rates will fall or where they'll go next.

Freddie Mac's data shows just how much rates can move even from one week to the next: the average 30-year fixed rate went from 6.76% to 6.95% between September 10 and September 17.

That's why I don't think your entire homebuying plan should depend on trying to predict the perfect rate.

Instead, focus on the things you can control:

Know your credit.

Understand your financing options.

Know what monthly payment fits comfortably within your budget.

Shop lenders and compare the full cost of the loan.

Look at both resale and new construction.

Understand what incentives are actually available.

Then you can make a decision based on your circumstances rather than trying to guess what the mortgage market will do next.

The Bottom Line

Yes, mortgage rates have moved higher recently.

But a changing rate environment doesn't mean your homebuying plans have to automatically go on hold.

You can't control the mortgage market, but you can control how prepared you are to navigate it.

If you're thinking about buying in Mansfield, Texas, Arlington, Texas, Burleson, Texas, Kennedale, Texas, Grand Prairie, Texas or another North Texas community, I'd be happy to help you look at the options available to you—including resale and new construction.

Let's talk about your budget, your timeline and what you're hoping to find, then build a homebuying plan that makes sense for you—not just for today's interest rate.

Source & Attribution

This article was inspired by information originally published by Keeping Current Matters (KCM). Current mortgage-rate information was reviewed using Freddie Mac's Primary Mortgage Market Survey, and local new-construction examples were reviewed using current builder/community information for Mansfield, Texas. Builder incentives and financing offers can change, expire or have qualification requirements, so buyers should verify current terms directly with the builder and lender.