Emory Farms: Mortgage Rates and Buying Power in November

What does a 7.18% mortgage rate mean for buying power in Emory Farms? With the median closed price at $367,923 across 14 sales over the last 12 months, the monthly principal and interest payment on a loan with a down payment is approximately $1,994. ALEX Intelligence modeled two common buydown scenarios to show how these rates affect affordability. A 3-2-1 buydown would reduce the rate to 4.18% in year one, saving about $558 per month compared to the standard rate, but it costs $13,608 upfront. A 2-1 buydown offers a smaller reduction to 5.18% in the first year, saving $381 monthly, for a total cost of $6,912. These figures are based on the median sale price and current market rates from Freddie Mac. While the rate environment remains elevated, understanding the cost of buydowns helps buyers compare their options against the long-term interest savings. The data reflects single-family homes with prices net of seller-paid concessions. https://alex.realestate Looking to buy in Emory Farms, Hutto? Get new listings the day they hit the market. 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