Marble Falls: How Mortgage Rates Shape Buying Power in November

What does a 7.18% mortgage rate mean for buyers in Marble Falls today? With the median closed sale price at $332,140 across 97 transactions over the last six months, monthly payments are significantly higher than they were when rates were lower. A buyer purchasing at this median price with 20% down would face a principal and interest payment of $1,800 per month at the current rate. ALEX Intelligence modeled two common buydown scenarios to show how these costs shift affordability. A standard 3-2-1 buydown reduces the rate to 4.18% in year one, cutting the monthly payment by $504. This temporary relief comes with a total cost of $12,288, or roughly 3.7% of the home price. A shorter 2-1 buydown offers a smaller reduction, saving $344 per month in the first year for a total cost of $6,240. These figures illustrate that while the median price has dropped 24.2% compared to the same period last year, the interest rate environment remains a primary factor in monthly affordability. Buyers must weigh the upfront cost of buying down the rate against long-term savings. The data shows that even with lower prices, financing costs continue to dictate purchasing power in the current market. 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