Last updated October 16, 2026

Should You Wait for Rates to Drop Before Buying in DeSoto, TX?

Should you wait for mortgage rates to drop before buying in DeSoto? A year of waiting cost DeSoto buyers about $217 a month. The median sold price stayed at $360,000 (NTREIS, September 2025 and 2026) while the 30-year fixed rose from 6.27% to 7.40% (Freddie Mac). Waiting for rates is a losing bet when prices don't fall to pay for it.

Most agents will tell you to wait or to jump. The numbers say something more specific. Here is the DeSoto math, with sources.

What did waiting a year cost a DeSoto buyer?

On a $360,000 DeSoto home with 20% down ($288,000 loan), principal and interest at 7.40% is about $1,994 a month. At last year's 6.27% it was about $1,777. The difference is $217 a month, or $2,604 a year, for the same median-priced house.

Scenario ($288,000 loan, 30-year fixed)	Rate	Monthly P&I
A year ago	6.27%	$1,777
Today	7.40%	$1,994
If rates fell half a point	6.90%	$1,897
If rates fell back to	6.50%	$1,820

Rates: Freddie Mac Primary Mortgage Market Survey, October 15, 2026 (7.40%; 6.27% a year earlier). Principal and interest only, excluding taxes, insurance and HOA. At 7.40% the APR on this loan is about 7.484% (assumptions: $1,495 in lender fees, no points, 15 days of prepaid interest, no mortgage insurance). Illustrative, not a rate quote. Rates, APR and terms vary with credit, loan type and points, subject to qualification.

Did DeSoto prices fall while buyers waited?

No. DeSoto's median sold price was $360,000 in September 2025 and $360,000 in September 2026 (NTREIS Monthly MLS Summary Report, released October 7, 2026). The price per square foot slipped 5.3%, from $155.86 to $147.55, which reflects the mix of homes that sold. The median didn't move.

Source: NTREIS September 2026 report, single-family homes. A buyer who waited got the same price and a rate 113 basis points higher. Based on current conditions, the wait did not pay.

Is DeSoto a buyer's market right now?

DeSoto has 4.9 months of supply, up from 3.9 a year ago, and homes took a median 68 days to sell, down from 78 (NTREIS, September 2026). That is balanced, with room to negotiate. Active listings rose to 180 from 165 while pending sales fell to 29 from 38.

Buyers paid 93.8% of list price. On a home that closed at $360,000, that is roughly $23,800 under the original asking price. That room is your negotiating position today, and it doesn't depend on a rate cut.

What would it take for waiting to pay off?

Rates would have to fall about 1.1 points, back near 6.27%, just to erase the $217 a month, and prices would have to hold flat while you waited. The 30-year fixed climbed from 6.95% on September 17 to 7.40% on October 8, after the Federal Reserve raised its target range to 3.75%-4.00% on September 16, 2026.

Sources: Federal Reserve statement, September 16, 2026; Freddie Mac PMMS weekly prints. Nobody can say where rates go next. If you buy now and rates fall later, a refinance is an option, subject to closing costs and qualification. If you wait and prices rise, you cannot undo the wait.

What can a DeSoto buyer do about the payment today?

Use the room you already have. Four moves that change the payment without a rate cut:

1. Offer under list. The 93.8% sold-to-list ratio shows DeSoto sellers are accepting less than asking.
2. Ask for seller credits toward a rate buydown or closing costs.
3. Compare lenders. Freddie Mac chief economist Sam Khater said in the October 8, 2026 Freddie Mac release that borrowers should shop around and compare mortgage rate quotes.
4. Get pre-approved with a payment target in mind. A pre-approval with Envision Home Lending shows what $1,900, $2,000 or $2,100 a month buys.

More on this decision from nearby markets: waiting for rates on a Glenn Heights new build, the Lancaster buy-now-versus-wait math, and refinance break-even math for Red Oak buyers. To see what is on the market now, browse DeSoto homes for sale.

Frequently asked questions

Will mortgage rates go down in 2026?

Nobody can promise that. The 30-year fixed was 7.40% on October 15, 2026 after four straight weekly prints above 7% (Freddie Mac). The Fed raised its target range on September 16. Plan your purchase around a payment you can carry today, with a refinance as an option and not a plan.

How much more is the payment on a DeSoto home than last year?

About $217 a month in principal and interest on a $288,000 loan, the 20% down loan on the $360,000 median. Add property taxes, insurance and any HOA for the full payment. The full number depends on the address.

Is it a good time to negotiate in DeSoto?

Buyers closed at 93.8% of list in September 2026 with 4.9 months of supply (NTREIS). That leaves room for an offer under list, seller credits or both. Priced-right homes still go fast, so negotiate on homes that have sat.

What happens if I buy and rates drop later?

You can refinance if the new rate covers your closing costs within the time you plan to stay. The break-even depends on your loan. A loan officer can run it before you commit.

Should I wait for DeSoto prices to fall instead?

Prices held flat for a year at a $360,000 median. Per-square-foot prices slipped 5.3%, but the median held. Waiting for a drop that has not shown up in the median is a bet against current data.

Get pre-approved: see the DeSoto payment you can carry at today's rates.

---

About the author: Steven J. Thomas, Broker, Refind Realty DFW · Loan Officer, Envision Home Lending LLC, NMLS #689220. Steven holds a Baylor financial planning degree and has spent 20+ years in financial services and 14+ in real estate. Call/text 972-846-9170.

Steven J. Thomas · Broker, Refind Realty DFW · TREC Broker License #0657467 · Loan Officer, Envision Home Lending LLC · NMLS #689220 · Company NMLS #2619789. Equal Housing Opportunity. TREC Information About Brokerage Services and Consumer Protection Notice. Market data is based on current conditions and does not guarantee a price, timeline or outcome. Not an offer of credit.