If you’ve been watching mortgage rates like a hawk waiting for the “right time” to buy, you’re not alone. Here in Houston, we hear the same question almost daily: “Should I wait for rates to drop more?”

Let’s talk about what that 6.3% rate actually means for your homebuying plans in 2026, and why waiting might not be the move you think it is.

Where Mortgage Rates Stand Right Now

As of January 2026, Houston-area mortgage rates are hovering between 6% and 6.3% for a 30-year fixed-rate mortgage. That might sound high if you’re comparing it to those wild pandemic-era rates (remember when we hit 2.65% in January 2021?), but here’s some perspective:

• The historic average between 1971 and now sits at 7.70%
• Rates have actually softened over the past month, dropping from around 6.2% to the current 6.01%-6.29% range
• We’re well below the peaks we saw in 2024-2025

So while 6.3% isn’t the steal we saw a few years ago, it’s also not the scary number some buyers think it is.

The Real Math: What 6.3% Means for Your Monthly Payment

Let’s break this down with real numbers because that’s what actually matters when you’re budgeting for a home.

On a $300,000 loan at current rates:

Yes, that’s a noticeable difference from the 3% days. But here’s the thing: those days aren’t coming back anytime soon. Pretty much every expert agrees that 2-3% rates are not returning in the foreseeable future.

The difference between a 6% rate and a 6.3% rate? About $31 per month on a $300,000 loan. Over 30 years, that adds up, but it’s not the dealbreaker many buyers assume.

Why Houston Buyers Are Still Moving Forward

Here’s what we’re seeing on the ground in Houston: smart buyers aren’t sitting on the sidelines waiting for a mythical rate drop. They’re making moves now, and here’s why.

1. Houston’s Market Offers Real Opportunity

Houston’s housing market has more inventory than we’ve seen in years. That means:

• More negotiating power for buyers
• Less competition on desirable properties
• Sellers who are actually willing to talk

When rates eventually do drop (and they will, gradually), expect a flood of buyers to re-enter the market. That competition drives prices up: potentially wiping out any savings you got from waiting.

2. You Can Always Refinance Later

This is the golden rule of 2026 homebuying: marry the house, date the rate.

Lock in a property you love at today’s prices, then refinance when rates improve. You can’t go back in time to buy at 2026 prices if you wait until 2028.

3. Rent Isn’t Getting Cheaper

While you’re waiting for the “perfect” rate, you’re still paying someone else’s mortgage through rent. In Houston, rental prices have been climbing steadily. Every month you wait is money that’s not building your own equity.

How to Get the Best Rate in Houston Right Now

Not all 6.3% rates are created equal. Here’s how to position yourself for the best possible terms.

Shop Around: Seriously

Don’t just go with the first lender who answers your call. Banks, credit unions, and online lenders can offer significantly different rates. We’ve seen spreads of 0.25% or more between lenders for the same buyer profile.

Boost That Credit Score

The minimum credit score for a conventional mortgage is 620, but here’s the deal: the higher your score, the better your rate. If you’re sitting at 680, spending a few months getting to 720+ could save you thousands over the life of your loan.

Consider Your Loan Options

A 30-year fixed isn’t your only choice:

• 15-year fixed: Lower rates, but higher monthly payments
• ARM (Adjustable Rate Mortgage): Lower initial rates that adjust later: could make sense if you plan to refinance or move within 5-7 years
• FHA loans: Great for first-time buyers with smaller down payments

Get Pre-Approved Before You Shop

In this market, serious buyers come pre-approved. It shows sellers you mean business and lets you move fast when you find the right property.

The Houston Advantage

Here’s something national headlines don’t always capture: Houston remains one of the most affordable major metros in the country. Your dollar stretches further here than in Austin, Dallas, or pretty much any coastal city.

Plus, with no state income tax and a diverse, resilient economy, Houston continues to attract new residents: which is great for long-term property values.

At Bexley Realty Group, we’ve been helping Houston buyers navigate every kind of market. High rates, low rates, tight inventory, buyer’s markets: we’ve seen it all. And right now? We’re seeing buyers who make smart, informed decisions come out ahead.

What Should You Do Next?

Here’s our honest take:

• If you’re financially ready to buy, don’t let 6.3% rates scare you off. The combination of current prices and available inventory makes this a solid window for Houston buyers.
• If you need to strengthen your position, focus on your credit score and savings. Even a few months of preparation can make a real difference in your rate and terms.
• If you’re unsure, talk to someone who knows the Houston market inside and out. That’s what we’re here for.

Ready to Talk Numbers?

The best way to know what 2026 mortgage rates mean for your situation is to run the numbers with someone who knows Houston real estate.

Give us a call at 832-648-2492 or visit BexleyRealtyGroup.com to connect with our team. We’ll help you understand your options, find the right property, and make 2026 the year you stop paying someone else’s mortgage.