Mortgage rates moved up this fall. Here's what Central Texas buyers can still control.

If you've been watching mortgage news, you've probably noticed that rates have gone up. Here is what actually happened, and what you can do about it.

What the numbers show

Every Thursday, Freddie Mac publishes the average rate on 30-year fixed mortgages from its Primary Mortgage Market Survey (PMMS). That weekly average rose from early September into early October. In the October 15 survey it held steady compared with the week before. You can see the current averages at Freddie Mac's survey page.

An average is not a quote. The rate you're offered depends on your credit, your loan type, your down payment, the property, and the day you lock.

What's happening with Central Texas homes

Higher rates aren't the only part of the picture. In Realtor.com's September 2026 report for the Austin-Round Rock-San Marcos metro:

• The median list price was down 9.8% from a year earlier.
• 27.3% of listings had a price reduction.
• Active listings were up 1.4% from a year earlier.

Nationally, 20.8% of listings had a price cut. Realtor.com called that the highest September reading since 2018.

More listings and more price cuts can mean more room to negotiate. What that looks like depends on the home and the seller.

Ask about seller credits toward closing costs

In some purchases, the seller agrees to pay part of the buyer's closing costs. Whether that's possible, and how much is allowed, depends on your loan type and the contract. Your real estate agent negotiates it with the seller. I can tell you what your loan allows before you make an offer.

Temporary buydowns: know how they work

A temporary buydown lowers your rate for the first part of the loan, and it's often paid for by the seller or the lender. One thing to know up front: on many loans you still have to qualify at the full note rate, not the lower starting rate. Fannie Mae's guidelines say that directly. A buydown can make the early years easier. It doesn't make a home more affordable than you can already qualify for.

Understand your rate lock

A rate lock means your rate won't change between your loan offer and closing, as long as your application doesn't change. According to the CFPB, extending a lock can be expensive if closing is delayed. A lock also means you won't get a lower rate if rates fall after you lock. Ask how long your lock lasts, what an extension would cost, and what happens if it expires.

Compare more than one offer

Freddie Mac encourages borrowers to shop around and get more than one quote. Compare Loan Estimates side by side. Look at the rate, the fees, and the cash needed to close, not just one number.

About refinancing later

Refinancing is a new loan with its own closing costs, and you have to qualify again. Nobody can promise where rates will go. Buy a home whose payment works for you today.

If you'd like help seeing where you stand, you can start a preapproval or reach out with questions.