# Why Waiting for Lower Rates Might Cost You More

By Josh Schaendorf (@joshschaendorf) · Published 2026-10-09

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Waiting for lower mortgage rates might sound like the safer move.

**But what if waiting potentially costs you negotiating power?**

Here's something many buyers don't consider:

Nearly **45% of recent homebuyers received some kind of help from the seller, according to** [**Redfin**](https://www.redfin.com/news/home-seller-concessions-august-2026/)**.** That help may include closing costs, repairs, or money to help lower the mortgage payment for a period of time.

Higher mortgage rates aren't just putting pressure on buyers.

**They're putting pressure on sellers, too.**

[Realtor.com](https://www.realtor.com/research/september-2026-data) reported that **20.8% of homes for sale had a price cut in September 2026**, the highest September level since 2018.

## The Price Isn't the Only Thing You Can Negotiate

Let's say a seller is willing to give up $10,000 to make the deal work.

Most buyers might think:

**"Great. Take $10,000 off the price."**

But that may not always be the best use of the money.

**Here's what many buyers don't realize:** depending on the loan and your situation, that same $10,000 could potentially be used for:

-   A lower price
    
-   Closing costs
    
-   A lower mortgage payment for a period of time
    

Why does that matter?

Using some of that money toward closing costs could mean **keeping more money in your bank account after closing.**

Using it to lower your payment for a period of time could make **early payments easier.**

And sometimes lowering the price may still be a choice to consider.

**Same $10,000. Different results.**

That's why it's worth running the numbers before deciding how to use a seller's help. Seller contributions are subject to loan program limits and terms of your purchase contract so its best to discuss your options with your loan officer.

## So, Should You Wait?

Maybe.

Waiting could absolutely be the right decision for some buyers.

But I wouldn't make that choice based on the mortgage rate alone.

A lower rate in the future could bring more buyers back into the market. More buyers can potentially mean more competition **and less room to negotiate.**

That's why I'd look at the **whole deal**.

The price. The payment. The cash you need. What the seller may be willing to do.

And most importantly, **what works for you.**

Sometimes the best opportunity isn't about finding the lowest rate.

**It's knowing how to use the market you're in.**

If a seller gave you $10,000 to work with, what would you choose:

**A lower price, less cash needed at closing, or a lower payment to start?**

**Drop your choice in the comments. I'm curious which one you'd pick.**

Josh Schaendorf, Mortgage Advisor | NMLS# 503819, Northpointe Bank

_All loans are subject to credit review and approval. This is not a commitment to lend. Other terms and conditions may apply._