Maxwell: How Mortgage Rates and Buydowns Affect Buying Power

What does a 7.32% mortgage rate mean for buyers in Maxwell? With the median closed price at $229,900 across 107 sales in the rolling six months ending September 30, 2026, monthly payments are significantly higher than in previous years. A standard purchase with a loan amount of $183,920 and a 30-year fixed loan at 7.32% results in a principal and interest payment of $1,263 per month. ALEX Intelligence modeled the impact of common buydowns to show how buyers can manage these costs. A 3-2-1 temporary buydown reduces the rate to 4.32% in year one, lowering the monthly payment to $912 and saving $351 each month. The total cost for this buydown is $8,544, which equals 3.72% of the median home price. A 2-1 buydown offers a smaller reduction with a total cost of $4,332, or 1.88% of the price. These figures are based on the median sale price and do not include taxes, insurance, or escrow. While rates remain elevated compared to historical norms, buydowns can provide immediate relief for qualified buyers. The data reflects current market conditions where the median price has dropped 11.6% year-over-year, offering a lower entry point despite higher borrowing costs. https://alex.realestate 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