If you've been watching mortgage rates this fall, you've probably noticed they've been climbing. According to Freddie Mac's weekly survey, the average 30-year fixed rate was 7.40% as of October 15, 2026, up from 6.27% a year earlier. The 15-year fixed averaged 6.71%.

So what does that actually mean if you're thinking about buying a home in Burleson, Joshua, Crowley, Cleburne or anywhere in Johnson County? Let's break it down.

What a higher rate does to your monthly payment

Here's a simple example on a $350,000 loan (principal and interest only, not including taxes, insurance or HOA dues):

  • At 6.27%, the payment is about $2,160 a month.
  • At 7.40%, the payment is about $2,423 a month.

That's roughly $263 more each month for the same loan. It's real money, but it's not the whole story.

Why buyers are still buying

Higher rates have slowed things down, and that can work in a buyer's favor. Homes are taking longer to sell, sellers are more open to negotiating, and builders across Johnson County are offering incentives to keep homes moving. A few ways buyers are making the numbers work right now:

  • Builder rate buydowns. Many new construction communities in Alvarado, Joshua, Godley and Burleson are paying to lower a buyer's rate, either for the first year or two or for the life of the loan.
  • Seller concessions on resale homes. With more homes on the market, it's often possible to ask a seller to help with closing costs or a rate buydown instead of (or along with) a price reduction.
  • Comparing loan options. FHA, VA, USDA and conventional loans all price differently. The right loan can make a noticeable difference in your payment.
  • Getting pre-approved first. Knowing your real numbers before you shop keeps you from falling in love with a home that doesn't fit your budget.

Should you wait for rates to drop?

Nobody can promise where rates will go. If rates fall later, many buyers choose to refinance, but refinancing has its own costs and isn't guaranteed. What you can control is buying a home with a payment you're comfortable with today. If the payment works now, a lower rate later is a bonus.

Know your numbers before you shop

The best first step is a quick conversation with a lender. I often refer my buyers to Vince Mazzarese with CMG Home Loans, who can walk you through your options and get you pre-qualified. You can start your pre-qualification here.

Have questions about buying in Johnson County, or want to know which builders are offering the best incentives right now? Call or text me, Ashley Forston, at (817) 240-1157.

Rates referenced are national averages from Freddie Mac's Primary Mortgage Market Survey and are for general information only. Your rate and payment will depend on your credit, down payment, loan type and other factors. Talk with a licensed lender for a quote.