Lakeway: How Mortgage Rates Shape Buying Power in August

What does a 7.28% mortgage rate mean for buyers in Lakeway today? With the median sale price at $715,000 across 27 closed sales in August, a typical buyer financing the property faces a principal-and-interest payment of $3,914 per month. ALEX Intelligence modeled two common buydown scenarios to show how rates affect monthly cash flow. A 3-2-1 buydown reduces the rate to 4.28% in year one, cutting the monthly payment by $1,090 for that year, but it costs $26,592 total (3.72% of the median price). A 2-1 buydown lowers the rate to 5.28% in year one, saving $745 per month initially, at a total cost of $13,512 (1.89% of the median price). These figures are estimates based on current data and are not appraisals. The median close-to-original list ratio of 95.3% suggests buyers still negotiate below asking, while days on market rose to 43 from 39 last month. For sellers, understanding these costs helps frame offers that include buydowns as a way to bridge the gap between price and affordability. Buyers should weigh the upfront cost against long-term savings if they plan to hold the property beyond the buydown period. Looking to buy in Lakeway? Get new listings the day they hit the market. Data from Unlock MLS. Information deemed reliable but not guaranteed. Model outputs are ALEX Intelligence estimates, not appraisals. Read more Central Texas market data on the ALEX blog: https://alex-companies.com/blog MIT, Nvidia, Google & IBM-Trained. Cross Domain-Expert: Quantum, AI, Ethics, Sovereignty, Intelligence, Philanthropy. Solepoint Planning. VUI AI Cloud Architect. AI Certifications Development. Quant/AI Instructor. Castor Venture Club Member. Associate Broker. George Arnold Alexander III, MPA Director, ALEX Companies Associate Broker, Alexander Tiffany Southwest, LLC dba ALEX.realestate, et.al. Texas License #574878-B · Broker License #565194-BB Broker, ALEX Real Estate · North Carolina License #367733 Independent Broker, ALEX Real Estate · Colorado License #II.100112456 [email protected] · +1 713.918.9951