Texas Market and Rate Update: Week of October 5, 2026 — Wholesale Lender Mortgage Rates, Price Cuts, and What to Ask For
The Short Version
30-year mortgage rates: Roughly 7.31%–7.49% nationally, depending on the source. Rates are near their highest level since 2023.
10-year Treasury yield:5.24% as of October 1, the highest level since spring 2002. Mortgage rates follow the 10-year Treasury more closely than the Fed’s benchmark rate.
Texas inventory: About 156,000 active listings and 5.5 months of supply statewide.
Price cuts: About 42% of listings nationally have taken a price cut. In Texas, the typical seller price cut is about $13,000, or 3.6% of the original list price.
What it means for you: Buyers have more negotiating power. Sellers need realistic pricing. Everyone needs current information because rates can move daily.
The market is not frozen. Texas sales were up 2.2% year over year in July and are up 3.2% year to date.
People are still buying.
The difference is that buyers now have more choices, and sellers have more competition.
Where Are Mortgage Rates This Week?
The national 30-year fixed average is sitting in the low-to-mid 7s.
Depending on the survey, you may see:
Zillow/NerdWallet: Around 7.31%
Bankrate: Around 7.49%
Freddie Mac’s weekly benchmark: Around 7.28%
These are averages, not personal quotes. Your actual rate can change based on your credit, down payment, loan type, property, loan size, points, and the lender you use.
Rates moved slightly lower Monday after a weaker-than-expected September jobs report and better-than-expected August inflation data.
That is helpful.
But the bigger picture is still volatile. Rates rose over recent weeks, then moved down a little today. This is why a weekly check-in is more useful than guessing what rates will do next month.
You can review broader rate data through Bankrate’s mortgage rate tracker and Freddie Mac’s mortgage market survey.
Why Are Rates Still Elevated?
The 10-year Treasury yield was 5.24% on October 1.
That matters because mortgage rates generally track longer-term bond markets, especially the 10-year Treasury. They do not move directly with the Federal Reserve’s overnight rate.
The Fed did raise its benchmark rate by 25 basis points on September 16. That was its first increase since July 2023.
However, the odds of another hike at the October meeting have dropped from about 70% a week ago to roughly 21% today. The current expectation is that the Fed will hold steady this month.
So why are mortgage rates still high?
Several larger forces are keeping long-term rates under pressure:
Heavy U.S. government borrowing
Large technology and artificial intelligence data-center spending
Oil supply pressure connected to the war in Iran
Ongoing concerns about inflation
The simple takeaway: A Fed pause does not automatically mean mortgage rates fall.
Long-term rates respond to the bond market, inflation expectations, economic data, and investor confidence. All of those factors are moving quickly right now.
Why Do Wholesale Lender Mortgage Rates Often Beat Retail?
This is one of the most important questions to ask when you receive a mortgage quote.
Retail lenders typically offer loans from their own menu. A mortgage broker can compare pricing across many lenders and match your situation with the lender that fits best.
That does not guarantee the lowest rate every time. It does create more options.
At Home Loans by Markus | Edge Home Finance, I have access to 100+ wholesale lenders with no extra lender overlays. That means we can look beyond one bank’s guidelines or one lender’s pricing.
Wholesale lender mortgage rates can be more competitive because:
We compare multiple lenders instead of stopping with one quote.
Different lenders price different loan types and borrower profiles differently.
Some lenders are more flexible with income, credit, property type, or debt.
We can compare rate, points, fees, and loan terms together.
Ask for the complete picture.
A lower rate with high points may not be better. A slightly higher rate with lower closing costs may make more sense. Good advice compares the total cost, not just the headline number.
Access: 100+ wholesale lenders Approval rate: 96% Average clear-to-close: 8 days in 2024
No pressure. Just a clearer comparison.
What’s Happening in the Texas Market Right Now?
Texas is becoming a choice market.
Statewide, the median sales price was about $339,000, essentially flat year over year and down just 0.2%. Price declines have moderated from:
May: down 0.6%
June: down 0.4%
July: down 0.2%
There are about 156,000 active listings statewide, equal to 5.5 months of supply.
Homes that sold in July averaged 63 days on market. Unsold inventory was sitting closer to 92 days.
That gives buyers more time to compare homes, negotiate repairs, and ask for help with financing.
Texas Metro Snapshot
DFW: Median price around $390,000; 4.6 months of supply; inventory down 4.3% year over year. Fort Worth-Arlington recorded a fourth straight month of year-over-year price gains.
Houston: Median price around $340,000–$370,000; roughly 4.6–5.5 months of supply; about 40.1% of listings have price cuts.
Austin: Median price around $430,000–$449,990; roughly 4–5.5 months of supply; about 52.5% of listings have price cuts. Sales are running 9% above last year year to date.
San Antonio: Median price around $312,000; 6.2 months of supply; prices down 1.1% year over year.
For more statewide detail, see the Texas Real Estate Research Center’s housing reports.
What Should Buyers Ask For in This Market?
You have more leverage than you have had in years.
That does not mean every seller will agree to everything. It does mean you should ask.
When you are considering a home purchase, ask whether the seller or builder can offer:
A temporary or permanent rate buydown
Seller-paid closing costs
A credit for repairs
Help with prepaid taxes or insurance
Appliances or upgrades
A price reduction
Flexible timing for closing or possession
Nearly 45% of home sales now include seller concessions. Builders are also using rate buydowns and appliance packages to compete with resale homes.
Your offer should be based on both the home and the financing.
A seller credit may help more than a small price reduction. A buydown may make the first few years more comfortable. The right answer depends on your loan, budget, and long-term plan.
That is where a clear comparison helps.
What Does the Market Mean for Sellers?
Sellers need to price for today’s buyer, not yesterday’s peak.
About 42% of listings nationally have taken a price cut, compared with a more normal range of roughly 30%–35%. The typical Texas seller price cut is about $13,000, or 3.6% of the original list price.
That does not mean every home needs a dramatic reduction.
It does mean buyers are comparing more carefully.
A seller may need to consider:
Pricing accurately from the start
Offering a closing-cost credit
Offering a rate buydown
Responding quickly to inspection concerns
Keeping the home competitive against builders
Reviewing the offer’s total value, not just the purchase price
The goal is not to give away everything.
The goal is to remove the right obstacle.
Is Now a Good Time to Buy or Sell?
There is no universal answer.
If you are buying, today’s rates may be higher than you hoped. But you may have more inventory, more negotiating room, and fewer bidding wars.
If you are selling, you may still benefit from solid demand. But pricing, presentation, and concessions matter more than they did during a highly competitive seller’s market.
The right question may not be, “Are rates perfect?”
A better question is, “Does this home, payment, and overall plan make sense for me?”
If the answer is yes, we can look at the numbers and build a strategy around them.
Thinking About Refinancing or a Second Opinion?
Good question.
Refinancing only makes sense when the savings, timeline, and costs work for your situation. A lower rate is not automatically a better loan.
The same is true if you already have a loan offer.
You can request a second opinion, and we can compare the offer against more than 100 wholesale lenders.
We will look at:
Interest rate
Annual percentage rate
Points
Lender fees
Closing costs
Loan structure
Estimated monthly payment
Prepayment or refinance considerations
No problem. Bring the quote you have.
We will help you understand it.
What Should You Do This Week?
Rates move daily. Sometimes they move more than once in a day.
You do not need to obsess over every headline. A weekly check-in is enough to stay informed and make better decisions.
This week:
Buyers should ask for credits, buydowns, and a full comparison of home purchase loans.
Sellers should review pricing and consider how a concession could improve the offer.
Homeowners should review refinance options if their goals or financial situation have changed.
Anyone with an existing quote should request a second opinion before assuming it is the best available option.
I offer certainty, not pressure.
Our service standards are simple:
Available 8 AM–8 PM, 365 days a year
Calls returned in under 60 minutes
Tuesday and Thursday transaction updates
98% on-time closing record
30 years of combined real estate broker and mortgage broker experience
If you would like a calm, straightforward review, book a free mortgage consultation.
Ask your questions. Compare your options. Let’s see what makes sense for you.
Stay informed. Make the next decision with better information.
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