Canyon Lake: How Rates and Buydowns Affect Buying Power

What does a 7.18% mortgage rate mean for buyers in Canyon Lake today? With the median closed price at $398,625 across 46 single-family homes in the rolling six months ending Oct 31, 2026, monthly payments are sensitive to even small rate shifts. A standard 30-year fixed loan with a loan amount of $318,900 on that median price yields a principal-and-interest payment of $2,160 at the current rate. ALEX Intelligence modeled two common buydown scenarios to show how they change affordability. A 3-2-1 buydown lowers the note rate to 4.18% in year one, cutting the monthly payment by $604 and saving $7,248 that year; it drops to a $413 monthly savings in year two and $211 in year three. The total cost of this buydown is $14,736, or 3.7% of the median sale price. A 2-1 buydown reduces the rate to 5.18% in year one and 6.18% in year two, with a total cost of $7,488, or 1.88% of the median price. These figures are estimates based on the median sale price and do not include taxes, insurance, or fees. They illustrate how buydowns can improve cash flow for buyers at current rates, but they also show the upfront cost required to achieve those savings. The data reflects ABOR-listed sales only; other listings may differ. ALEX Intelligence estimate, not an appraisal. Want to see this home? Call or text George at 713.918.9951 for a private showing. Coverage: most home sales in Canyon Lake are listed in another MLS, which ALEX does not receive yet. The figures in this post count only sales listed in Unlock MLS (ABOR), so they describe part of the local market, not all of it. 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