Who has the best mortgage rates in Texas?
I’m looking for a primary, single-family home in for , and credit score.
Insights
Negotiate everything—rates, fees, and terms are not set in stone.
George Robinson TrueRate Data ScientistLenders with low rates in TX
TrueRate analyzed the rates lenders actually gave to buyers for the last three years and found only a few lenders likely to get you a good deal.
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Insights
Negotiate everything—rates, fees, and terms are not set in stone.
George Robinson TrueRate Data ScientistLenders in TX likely to have high rates
We don’t accept advertising, so you can get the real lender story. TrueRate looked at 120 lenders and found that these lenders are likely to offer you a high rate.
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Insights
Whether a lender has high margins or is simply inefficient and passing their costs on to you, the result is the same—you’ll likely end up paying more for your home. Our data shows that if you choose these lenders you will likely regret it.
George Robinson TrueRate Data ScientistLenders with average rates in TX
You deserve better than what these lenders historically provide.
Sorry, no lenders were found.
Methodology
We believe in transparency. Here’s how we crunched the numbers.
Based on lender data from 2023 with at least 10 loans similar to yours with 0 points for a 30-year fixed mortgage.
Don’t let lenders pull a fast one on you
Learn how really low rates often come with hidden fees. Drag the slider to see how rates and fees are connected.
Insights
Insights by James McTernan Tomo Mortgage Loan Advisor - NMLS #337556TrueRate report
See how mortgage companies got home buyers to over-pay by billions.
Get the reportMethodology
We believe in transparency. Here’s how we crunched the numbers.
Based on lender data from 2023 with at least 10 loans similar to yours with 0 points for a 30-year fixed mortgage.
Texas is a great place for home buyers
Thinking about buying a home in Texas? You might be in luck. Mortgage interest rates here are currently lower than in many other states, which could make owning a home—maybe even that spacious Texas dream house—much more affordable.
Over the past five years, interest rates in Texas have seen some dramatic changes. In 2019, rates were relatively stable, averaging around 4% for a 30-year fixed mortgage. It was a solid time to buy or refinance.
Then came 2020 and the pandemic. In response to the economic uncertainty, the Federal Reserve lowered interest rates to historic lows. By mid-2020 and into 2021, mortgage rates in Texas dropped to around 2.5% to 3%. Homebuyers jumped at the opportunity—refinancing and purchasing surged while borrowing costs were unusually low.
By late 2021 and into 2022, however, rates began to rise again. The Fed, aiming to slow inflation, increased interest rates. By 2022, Texas mortgage rates climbed to around 5% to 6%, and in 2023, some even reached 7%, depending on the lender and your credit profile.
Even with these increases, Texas still compares favorably to many other states. Home prices remain relatively affordable, especially when you factor in the state’s lower cost of living and the lack of a state income tax. Those benefits help offset some of the pressure from higher borrowing costs.
All in all, Texas has remained a strong option for homebuyers over the past several years. With improving interest rates and the state’s overall affordability, now could be a great time to start looking for a home in the Lone Star State.