Current Texas Mortgage Rates
Average market rates for December 03, 2025 in Texas are 6.23% for 30-year fixed purchase and 6.27% for 30-year fixed refinance
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.23% | 6.26% |
| 30-year Fixed Refinance | 6.27% | 6.29% |
Mortgage Rate Trends in Texas
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.23% | 6.26% |
| 30-year Fixed Refinance | 6.27% | 6.29% |
Maybe the Lone Star State should be renamed the Loan Star State. Because home loans in Texas are much more attractive than in most other places in America.
In 2023, the average mortgage rate in Texas was 6.60%. Nationwide, that same average was 6.97%.
There are several reasons why a state might have lower-than-average mortgage rates, including:
- Residents have higher-than-average credit scores. The higher your score, the lower your mortgage rate is likely to be. But Texans on average have lower scores (686) than the nationwide average (705), according to Experian. So that’s not it.
- The mortgage lending market is more competitive. It may be that more mortgage lenders per capita are chasing Texans’ business. The laws of supply and demand dictate that would tend to drive down rates.
- Residents are more likely to comparison shop for their mortgages than those in other states. A federal regulator reckons, “Mortgage data shows that borrowers could save $100 a month (or more) by choosing cheaper lenders.”
- The state government regulates mortgage lending more lightly. The lighter the touch, the less lenders need to spend on compliance. And they may pass on some of that saving in the form of lower mortgage rates.
It’s worth noting that, in June 2024, it was reported that “The Texas Department of Savings and Mortgage Lending has proposed a wide-ranging overhaul of its rules concerning residential mortgage loan originators (RMLOs), loan companies, mortgage bankers, and servicers.”
The report, by McGlinchey, says, “The changes are motivated by consumer complaints and the desire to close loopholes in the rules,” which sounds as if they might tighten regulation. If the proposals eventually become law, any light-regulation benefit to mortgage rates could evaporate.
Texas Purchase Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Purchase | 5.35% | 5.39% |
| 15-year Fixed Jumbo Purchase | 6.18% | 6.21% |
| 30-year Fixed Purchase | 6.23% | 6.26% |
| 30-year Fixed Jumbo Purchase | 6.83% | 6.84% |
Texas Refinance Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Refinance | 5.33% | 5.37% |
| 15-year Fixed Jumbo Refinance | 6.17% | 6.19% |
| 30-year Fixed Refinance | 6.27% | 6.29% |
| 30-year Fixed Jumbo Refinance | 6.85% | 6.87% |
Texas ARM Rates
| Product | Rate | APR |
|---|---|---|
| 5/6 Arm (purchase) | 6.03% | 6.06% |
| 5/6 Arm (refinance) | 6.05% | 6.07% |
| 5/6 Jumbo Arm (purchase) | 5.87% | 5.88% |
| 5/6 Jumbo Arm (refinance) | 5.91% | 5.92% |
How we source rates and rate trends
Texas Real Estate Trends
The real estate market in Texas has been far from buoyant recently. That’s bad news for existing homeowners but good for first-time buyers. Here are some details …
Home prices
Over the 12 months between Nov. 1, 2023, and Oct. 31, 2024, the median sale price in Texas increased 1.3% to $345,300, according to Redfin.
That’s appreciably lower than the national average. The Federal Reserve Bank of St. Louis says that the median sale price nationwide was $420,400 in the third quarter of 2024.
The slow rate of increase in the median sale price is great news for first-time homebuyers. For most, their salaries climbed more quickly, allowing them to reach their savings targets for down payments and closing costs more easily than in most states. (Spoiler alert: It’s never all that easy.)
Of course, home prices rise at different rates in different areas and neighborhoods within the state.
For example, Sienna had a fine year for home prices. There, those climbed by 33.1% year-over-year. Here are the places Redfin reckons saw the highest increases in prices:
Top 10 Metros in Texas with the Fastest Growing Sales Price
- Sienna, TX 33.1%
- Texarkana, TX 32.0%
- Sienna Plantation, TX 30.5%
- Northlake, TX 27.7%
- Edinburg, TX 17.3%
- Granbury, TX 16.8%
- Colleyville, TX 14.6%
- Sugar Land, TX 13.7%
- Fate, TX 13.2%
- Azle, TX 12.7%
Sales environment
Despite the low home prices in Texas, selling a home there isn’t all that easy. True, the number of homes sold in the year leading up to October 2024 increased 10%. But the time between listing and sale jumped by 11 days over that year, up to 56 days.
This can be frustrating for homeowners. However, it presents an opportunity to buyers — and especially first-time buyers. Motivated sellers may be much more open to negotiation after eight weeks with no bites.
Home equity
For those wishing to refinance, home equity can be an especially important factor. Equity is the amount by which your home’s market value exceeds your mortgage balance.
And that’s currently an issue in Texas. Across America, the average homeowner accumulated another $25,000 in equity during the 12 months ending in the second quarter of 2024, according to CoreLogic. But Texan homeowners on average lost $3,000 of equity.
At least that’s better than Oklahoma and North Dakota where equity per mortgage dropped $8,000 that quarter. But it’s painful compared to Maine (+$58,000), California (+$55,000), and New Jersey (+$53,000).
Still, many Texan homeowners, who have lived in their homes for many years, will continue to have plenty of equity to tap, should they wish to do so.
Sadly, that doesn’t apply to those few who have “negative equity” (aka are “underwater”), which is when your mortgage balance exceeds your home’s market value. CoreLogic says that 1.3% of homeowners in Houston were in that unfortunate position during the second quarter of 2024.
First-Time Home Buyer Programs in Texas
The Lone Star State’s definition of “first-time home buyer” is a person or family who has not owned or had a financial interest in a home within the last three years. In the case of married couples, both parties are said to hold an ownership interest in the property, even if only one of them is listed on the Deed of Trust. Sometimes, exceptions are made for single-parent families.
Here are some of the state’s programs to assist first-time buyers:
- Texas State Affordable Housing Corporation (tsahc), offers various home buyer programs:
- It can offer a mortgage loan and funding to be used for a down payment.
- Assistance in the form of a grant may be available, which does not have to be repaid. Alternatively, a deferred forgivable second mortgage may be offered, which only has to be paid back if the buyer chooses to sell or refinance within the first three years.
- Buyers can also apply for a mortgage interest tax credit called the Mortgage Credit Certificate (MCC). Certain income requirements must be met to qualify and the home has to meet certain sales price restrictions.
- The Texas Department of Housing and Community Affairs also offers flexible Down Payment Assistance Programs including a 30-year, low-interest rate mortgage that may be utilized for a down payment or to help with closing costs.
These are just a few of the numerous down payment assistance programs available in the Lone Star State. It’s worth taking time to research others, which might suit you better.
Your city or county may offer its own program. A simple web search should start you off.
Mortgage statistics in Texas
The third quarter of 2024 ended with home sales prices in Texas continuing to rise, although there was a decrease in new listings due to the strong growth early in the year.
- In October the trend continued with the average price at $345,300. That represents a 1.3% rise on the same period in the previous year.
- The median sales price was around
- $348,000 for a single-family home
- $324,000 for a townhouse
- $263,000 for a condo/co-op
Homes in Houston generally sell in around 41 days, which means that the market is quite competitive.
- The average sales price in October 2024 was up 5.3% year-over-year at $347,250 and is slightly over the state’s average.
- The median sales price was around
- $364,000 for a single-family home
- $325,000 for a townhouse
- $187,000 for a condo/co-op
Homes in Dallas receive an average of two offers and sell in around 44 days. The market is very competitive.
- Home prices were up 10.3% in October 2024 compared to the previous year, while the median home price was $450,000
- The median sales price is around
- $500,000 for a single
- $521,000 for a townhouse
- $286,000 for a condo/co-op
Most Common Mortgage Types in Texas
- Conventional: 266,864 loans
- FHA: 71,335 loans
- VA: 45,950 loans
- USDA: 1,809 loans
Top Purchase Lenders in Texas by Volume
- DHI Mortgage Company, Ltd.: 18,196 loans
- Rocket Mortgage, LLC: 13,943 loans
- Fairway Independent Mortgage Corporation: 12,296 loans
- Lennar Mortgage, LLC: 8,855 loans
- Loandepot.com, LLC: 7,797 loans
- Everett Financial, Inc.: 7,308 loans
- Mortgage Research Center, LLC: 7,036 loans
- Primelending, A Plainscapital Company: 6,682 loans
- 21st Mortgage Corporation: 6,394 loans
- Amcap Mortgage, Ltd.: 6,293 loans
Top Refinance Lenders in Texas by Volume
- Rocket Mortgage, LLC: 4,694 loans
- Nationstar Mortgage LLC: 2,336 loans
- Pennymac Loan Services, LLC: 2,089 loans
- Wells Fargo Bank: 1,918 loans
- JPMorgan Chase Bank: 1,693 loans
- Freedom Mortgage Corporation: 1,630 loans
- American Advisors Group: 1,379 loans
- Loandepot.com, LLC: 1,293 loans
- Bank Of America: 1,281 loans
- Royal United Mortgage LLC: 1,082 loans
Top Cash-Out Refinance Lenders in Texas by Volume
- Rocket Mortgage, LLC: 15,274 loans
- Nationstar Mortgage LLC: 4,610 loans
- Loandepot.com, LLC: 4,047 loans
- Wells Fargo Bank: 3,301 loans
- Randolph-brooks Federal Credit Union: 3,255 loans
- Credit Union Of Texas: 2,861 loans
- Pennymac Loan Services, LLC: 2,620 loans
- JPMorgan Chase Bank: 2,400 loans
- Freedom Mortgage Corporation: 1,827 loans
- Aspire Financial, Inc.: 1,731 loans
