Mortgage Rates Hit Nearly Two-Year High: What North Texas Buyers and Sellers Should Know

September 16, 2026 - 05:44

Mortgage rates have climbed above 7 percent, reaching their highest level in nearly two years. For buyers and sellers across North Texas, the shift changes the math on what a monthly payment looks like and how much house someone can afford.

For buyers, a higher rate means the same loan amount costs more each month. Someone shopping with a fixed budget may need to look at lower price points, bring a larger down payment, or wait for rates to ease. Some lenders offer adjustable-rate loans or temporary rate buydowns, though these come with their own risks.

Sellers face a different pressure. Many homeowners locked in low rates during the pandemic are reluctant to list, which keeps inventory tight and supports prices. But buyers who are stretched thin by higher borrowing costs may push back on asking prices or ask for concessions.

Experts say opportunities still exist. Motivated sellers may negotiate on repairs or closing costs. Buyers who can afford today's payments and plan to refinance later could find less competition. The key is running the numbers carefully before making a move.