Milam County: How Rates Affect Buying Power This Month

What does a 7.11% mortgage rate mean for a buyer in Milam County today? With the median home price at $245,750 across 76 closed sales in the rolling six months ending October 31, 2026, monthly payments are sensitive to even small rate shifts. A standard purchase with a 7.11% note rate results in a principal-and-interest payment of $1,323 per month. ALEX Intelligence applied a scenario model using the median price and current market rates to show how buydowns change affordability. A 3-2-1 buydown reduces the rate to 4.11% in year one, cutting the monthly payment by $372, but costs $9,072 upfront. A 2-1 buydown lowers the rate to 5.11% in year one for a cost of $4,608, saving $254 per month initially. These figures assume a down payment on the median price and do not include taxes or insurance. The data shows that while the median price rose just 0.3% from the prior six-month period, the rate environment remains a key factor in total cost of ownership. Buyers should weigh the upfront buydown cost against long-term savings when evaluating offers. The analysis is based on Unlock MLS closed sales for single-family homes with prices net of seller-paid concessions. Mortgage rates are sourced from Freddie Mac's Primary Mortgage Market Survey for the week ending November 12, 2026. 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