Milam County: How Rates Shape Buying Power This Month

What does a 7.32% mortgage rate mean for a buyer in Milam County today? With the median home selling for $245,000 across 83 closed sales in the rolling six months ending September 30, 2026, monthly payments are heavily influenced by current interest rates. A standard purchase with 20% down on a median-priced home results in a principal and interest payment of $1,346 per month at the current rate. ALEX Intelligence applied a scenario model to show how buydowns alter this picture. For a buyer seeking lower initial payments, a 3-2-1 buydown costs $9,108 (3.72% of the median price) and reduces the first-year payment to $972, saving $374 monthly. A 2-1 buydown costs $4,620 (1.89% of the median price) and lowers the first-year payment to $1,091, saving $255 monthly. These figures are based on a 30-year fixed loan at 7.32% with principal and interest only. The market has seen the median days on market drop to 64 days from 102 days in the prior period, a decrease of 37.3%. Despite this increased activity, the median close-to-original list ratio remains at 92.3%, indicating that buyers still negotiate below the original asking price on most transactions. Mortgage rates are sourced from the Freddie Mac Primary Mortgage Market Survey for the week of October 22, 2026. These estimates reflect current market conditions and do not constitute an appraisal or a guarantee of future rates. 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