Who has low 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 Chief Data ScientistLenders with low rates in TX
We’ve analyzed the rates lenders actually gave to buyers for the last three years and found 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 Chief Data ScientistLenders in TX likely to have high rates
We don’t accept advertising, so TrueRate can give the real lender story. We looked at many lenders and these lenders are likely to offer you a high rate.
| Lender | Lender fees | ||
|---|---|---|---|
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 Chief Data ScientistTrueRate report
See how mortgage companies got home buyers to over-pay by billions.
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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.
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Insights
James James McTernan is a Tomo Mortgage Loan Advisor - NMLS #337556Texas is a great place for home buyers
Thinking about buying a house in Texas? You’re in luck. First off, mortgage interest rates in Texas are sitting lower than some other states, making your dream of owning a big ol’ Texas home totally within reach.
Interest rates have been a rollercoaster ride in Texas over the past five years. So, back in 2019, rates were pretty chill, sitting around the 4% mark for a 30-year fixed mortgage. It was a nice, steady time for anyone who wanted to lock in a decent rate.
Then 2020 happened, and boom—pandemic. But guess what? The Federal Reserve slashed rates to keep the economy afloat, and suddenly, Texas mortgage rates dipped way down. We’re talking like historically low, around 2.5% to 3% by mid-2020 and into 2021. People were out here refinancing and buying homes like it was Black Friday—snagging deals left and right because it felt like free money with rates that low.
Fast forward to late 2021 and 2022, and things started to shift. The Fed decided, “Okay, the economy’s bouncing back; let’s cool it.” So, they bumped up interest rates to fight inflation. By 2022, mortgage rates in Texas started creeping back up, hitting around 5% to 6%. And in 2023? Yeah, you felt the squeeze. Rates have fluctuated around 6% to even 7% at times, depending on the lender, your credit score, and how fast the Fed wants to keep those inflation-fighting vibes going.
Now, Texas looks pretty good compared to some places where home prices are crazy high. We still have that lower cost of living and no state income tax, which makes dealing with a higher rate a little less painful.
Basically, the past five years have been a mix of low lows and high highs, but Texas stayed solid, offering homes that are still more affordable compared to other states—even if the rates bumped up a bit. So yeah, Texas is where it’s at. Lower mortgage rates, bigger homes, no state income tax. You really wanna miss out on that?