This page tracks current mortgage rates for Texas buyers and explains what actually moves them. I update the snapshot below as new Freddie Mac data is released, so you are always reading a current figure rather than a stale headline. The rate you personally qualify for depends on your credit, down payment, loan type, and lender, so treat the numbers here as a market reference, not a quote.

Current Texas Mortgage Rates

• Freddie Mac 30-year fixed (week ending July 9, 2026): 6.49% nationally
• Freddie Mac 15-year fixed: 5.82% nationally
• Texas 30-year fixed conventional, well-qualified borrowers: roughly 6.35% to 6.70%
• Texas 30-year FHA: roughly 6.15% to 6.50% (before mortgage insurance)
• One year ago: the 30-year fixed averaged 6.72%

Rates edged up in the July 9 survey, from 6.43% the prior week, giving back most of the previous week’s dip to a seven-week low. The Freddie Mac survey has stayed in a 6.36% to 6.75% band through the first half of 2026. These figures are illustrative, not a rate quote, and your individual rate will vary. Snapshot last updated: July 10, 2026.

Key facts:

• Freddie Mac 30-year fixed average: 6.52% nationally for the week ending June 11, 2026 (Freddie Mac PMMS)
• The 2026 Freddie Mac survey has run between 6.36% and 6.75% through the first half of the year
• A $350,000 30-year loan at 6.48% runs about $2,209 per month in principal and interest
• A 15-year fixed averaged 5.79% in the same survey, with a lower rate but a higher payment
• Conventional pricing improves at higher credit tiers, with a notable step around 740

How Much Does a 30-Year Fixed Mortgage Cost Per Month in Texas?

At the June 2026 Freddie Mac average of 6.48%, a $300,000 30-year fixed loan costs about $1,893 per month in principal and interest, a $350,000 loan about $2,209, and a $450,000 loan about $2,840. These figures cover principal and interest only. They do not include property taxes or homeowners insurance, which run higher in Texas than in most states.

Loan amount	Approximate monthly principal and interest at 6.48%
$300,000	about $1,893
$350,000	about $2,209
$450,000	about $2,840

Texas property taxes add meaningfully on top of that. Depending on your county, taxes and insurance can add several hundred to over a thousand dollars a month to the payment above. Always budget the full payment, not just principal and interest.

What Actually Moves Mortgage Rates?

The 30-year fixed rate does not move directly with the Federal Reserve’s overnight lending rate. It tracks more closely with the 10-year Treasury yield. When bond investors expect slower growth or cooler inflation, yields fall and mortgage rates tend to follow. When inflation runs hot or the economy comes in stronger than forecast, yields and rates rise.

Through the first half of 2026, the Fed has held its policy rate steady while inflation has continued a gradual descent. Rates may improve if the Fed signals a cut later in the year, though that outcome is not guaranteed and the timing is uncertain. The practical takeaway is that rates in the mid-6s have been the operating environment for Texas buyers, and planning around that range beats waiting for a number nobody can promise. For how that rate environment is playing out in prices and inventory, see the Texas housing market page.

What Determines the Rate You Personally Get

The national average is a starting point. Your actual rate is shaped by factors you have some control over:

• Credit score: Pricing improves at higher tiers, with a notable step up around 740. See what credit score you need for a Texas mortgage.
• Down payment / loan-to-value: More down generally lowers risk-based pricing and can remove mortgage insurance.
• Loan type: Conventional, FHA, VA, and jumbo loans price differently.
• Loan term: A 15-year fixed carries a lower rate than a 30-year but a higher monthly payment.
• Points: Paying discount points buys the rate down. Whether it pays off depends on how long you keep the loan.

Rate vs. APR: Read Both

The interest rate sets your monthly principal and interest. The APR folds in certain loan costs and is usually a bit higher than the rate. When you compare lenders, compare both on the same loan type and lock period, because a low advertised rate with high fees can cost more than a slightly higher rate with lower fees.

How Do I Get the Best Mortgage Rate in Texas?

Shop more than one lender within a short window so the credit inquiries count as a single shopping event. Get a written Loan Estimate from each and compare line by line. As a Texas mortgage broker, and through Mortgage Austin, my Austin-area brand, I compare multiple wholesale lenders for you rather than offering a single bank’s pricing. If you are weighing that choice, see Texas mortgage broker vs. bank.

Frequently Asked Questions

What is the mortgage rate in Texas right now?

As of the week ending June 11, 2026, the Freddie Mac 30-year fixed averaged 6.52% nationally, and well-qualified Texas borrowers are seeing conventional 30-year rates roughly in the 6.40% to 6.75% range. Your rate depends on your credit, down payment, and loan type, so the only way to know your number is a personalized quote.

Will mortgage rates go down in 2026?

Rates may ease if the Federal Reserve signals a rate cut and inflation keeps cooling, but that is not guaranteed and the timing is uncertain. The Freddie Mac survey has stayed between 6.36% and 6.75% so far in 2026. Planning around the current range is more reliable than waiting for a drop nobody can promise.

Are FHA rates lower than conventional in Texas?

FHA note rates often run slightly lower than conventional because of the government guarantee, recently around 6.20% to 6.55% in Texas. But FHA carries a mortgage insurance premium that adds to the cost, which narrows the effective advantage. The better deal depends on your credit and down payment.

Does the Federal Reserve set mortgage rates?

Not directly. The Fed sets the overnight federal funds rate, but 30-year mortgage rates track the 10-year Treasury yield more closely. Mortgage rates can move before the Fed acts, based on what bond investors expect for inflation and growth.

Should I buy points to lower my rate?

Buying discount points lowers your rate in exchange for an upfront cost. It pays off only if you keep the loan long enough to recover that cost through lower payments. If you may sell or refinance within a few years, points often do not break even.

Talk Through Your Rate Options

If you want to know the rate you would actually qualify for in today’s market, I am happy to walk through your numbers with no pressure. Reach out here whenever you are ready.

Anthony Ferrando | Mortgage Loan Originator | NMLS# 1919613 | Ferrando Financial LLC NMLS# 2403080 | Licensed in Texas. This is not a commitment to lend. Loan approval is subject to credit, income, and property qualifications. Rate estimates use Freddie Mac PMMS data (week ending July 9, 2026) and are illustrative, not a loan offer; your rate will depend on credit, loan terms, property type, and market conditions at time of lock. Equal Housing Lender.