The Colony: How Rates Affect Buying Power This Month

What does a 7.32% mortgage rate mean for a buyer in The Colony today? With the median closed sale price at $434,950 across 104 homes over the last six months, monthly payments are sensitive to even small rate shifts. A standard purchase with a loan amount of $347,960 results in a principal-and-interest payment of $2,390 per month. ALEX Intelligence modeled two common buydown scenarios to show how these costs play out. A 3-2-1 buydown lowers the rate to 4.32% in year one, cutting the monthly payment by $664 and saving $7,968 that year. The cost for this buydown is $16,188, or about 3.72% of the median sale price. A 2-1 buydown offers a smaller reduction with a rate drop in year one, providing a monthly saving of $453 and a total cost of $8,220, which represents 1.89% of the price. These figures help buyers weigh upfront concessions against long-term affordability. While the median price rose 5.7% compared to the prior six-month period, higher rates can offset that gain for monthly budgets. The data reflects 104 closed sales and does not include taxes, insurance, or HOA fees. ALEX Intelligence estimate, not an appraisal. Want to see this home? Call or text George at 713.918.9951 for a private showing. 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