Rates Just Hit an 11-Month Low: What should home buyers do in McKinney

Nitin Gupta, CRS, REALTOR
5 hours ago
4 min read

Mortgage rates have dropped to their lowest point in nearly a year, offering McKinney buyers increased purchasing power.This is an opportunity: lower monthly payments for the same loan amount, or ability to afford a better home for your budget.If you act smart now—planning, getting pre-approval, exploring inventory—you can lock in a deal that may outperform future market shifts.

Understanding the “11-Month Low”

The U.S. average 30-year fixed mortgage rate recently fell to about 6.49%, the lowest since October 2024.
15-year rates also declined, giving options for buyers seeking shorter amortization.
Lower rates are driven by weak job market numbers, falling Treasury yields, and increasing expectations for Federal Reserve rate cuts.

McKinney Market Snapshot

Current housing supply in McKinney shows it’s shifting toward a buyer’s market in many segments. Days on market have increased.
Home price growth remains strong, but relief is beginning for those who can act while rates are favorable.
Competition persists in the most desirable neighborhoods, especially in newer developments and communities with top schools.

What McKinney Buyers Should Do Now

Strategy	Why It Matters in Current Conditions
Get Financials in Order & Pre-Approval	Low rates won’t guarantee you qualify. A clean credit profile, adequate down payment, and pre-approval lets you move fast.
Lock In When You Find a Good Rate	Rates may continue to drop — or creep up again. Once you find a favorable rate and the home fits, lock it.
Compare Offers From Multiple Lenders	Even a few tenths difference in rate can save thousands over a loan term—shopping matters.
Target Neighborhoods with Added Amenities	With favorable financing, you can reach into communities with better amenities, schools, and long-term value.
Consider Slightly Higher Offer Price if Rate Drops Offset Cost	Sometimes paying a bit more in purchase price is reasonable if lower interest makes monthly payments still manageable.
Watch for Rate‐Lock & Builder Incentives	Builders may give incentives (closing cost help, upgrades) when rates drop because demand is sensitive.

What to Be Cautious Of

Even though rates are lower, many homes in McKinney — especially in luxury/new construction — are still priced aggressively. Lower rates don’t always equal bargain prices.
Property taxes, insurance, HOA, maintenance add up; always include those when calculating affordability.
Inflation or economic changes can push bond yields (which influence mortgage rates) up quickly, so what’s good today might change.
Inventory in desirable neighborhoods may still be limited; often the “nice homes” get snapped up first.

How Working With Nitin Gupta Helps

As someone deeply familiar with McKinney and surrounding DFW luxury/new-construction real estate, I bring:

Expert insight into which builders are offering the best incentives in McKinney right now.
Connections with lenders who offer competitive rate-lock options.
Knowledge of neighborhoods in McKinney poised for strong appreciation, especially near top school districts.
Experience guiding buyers through negotiation when rate drops shift market leverage.

Learn more about my credentials and designations here:https://www.nitinguptadfw.com/dallas-realtor-designations

See what clients say about working with me:https://www.nitinguptadfw.com/reviews

Action Steps for Buyers in McKinney

Obtain a mortgage pre-approval as soon as possible. Know exactly what you qualify for, interest rate, monthly payment.
Define your must-haves vs nice-to-haves (school district, lot size, amenities). Be ready to compromise.
Start touring new construction and resale options now. Seeing what's available will sharpen your understanding of value.
When you see a home that meets your criteria and is priced fairly, make an offer. Don’t wait indefinitely for even lower rates—there’s opportunity cost.
Consult with me for personalized McKinney market reports, to see which communities offer the best value given current rates.

Call us at 469-269-6541 for more information about McKinney real estate!

About us: McKinney New Construction Expert Real Estate Agent

As a Top Real Estate Professional in McKinney, I understand the challenges that arise when buying a new construction home. There are over 100 builders in the DFW area. I work with most of the new home builders in McKinney and understand how various builders operate. I am familiar with the options they offer, current incentives and I frequently visit the upcoming communities they are building. I guide my clients through all steps of the new home construction process and aggressively protect their interests in the transaction.

As a holder of top real estate industry certifications and designations like CRS, ABR & GRI, I can offer my clients experience as a Buyer's Agent and REALTOR®, top Industry Customer Service, in-depth, up-to-the-minute and comprehensive market knowledge; honesty, integrity, dedication, and professionalism in my business.

Whether you are a first time buyer in McKinney looking to buy a home in Fields or whether you are relocating to McKinney from California or moving your entire family from areas like San Francisco, Fremont, Palo Alto, Los Angeles, San Diego in California due to job transfer with your company, I can help you find a new construction home in Fields in McKinney. Our relocation team eases the transition - whether you are moving across town or across the globe. We will work with you to find an area that best suits your professional, family and lifestyle needs. We have all the tools you need to help your home search. Whether it is video previews of homes, extended work hours, digital signatures for documents or more, we can make this process as comfortable as possible no matter where you are located.

What is most important to you in your new construction home in Fields in McKinney? Send us an email at info@NitinGuptaDFW.com or give us a call at (469) 269-6541 to schedule a no obligation consultation. We’ll give you honest advice about Fields community that you can use to help make your home buying decision.