Mortgage Rates in Texas: Today's Averages & 2026 Outlook
Texas 30-year fixed rates are running around 6.89% — roughly 4 bps above the national average of 6.85%. Here's how TX rates stack up, what drives the spread, and the programs that can price you lower.
Today's Texas rates by loan type
Estimates for Texas based on the current national 30-year average of 6.85% plus the state's typical spread (+4 bps). Live national rate sourced daily from Freddie Mac PMMS via our rate feed. Your actual quote will depend on your credit, down payment, and lender.
What drives Texas mortgage rates
National rates set the floor — Freddie Mac's weekly PMMS average is the benchmark almost every Texas lender starts from. But TX typically prices about 4 basis points above that national average because of three local dynamics: the mix of loan types written in the state, lender density and competition, and how expensive the state is to close in.
Loan mix. FHA share is above average; conventional still dominant in metro Austin and Dallas. The mix matters because FHA, VA, and USDA loans price differently than conventional — states with heavier government-loan share tend to show tighter buyer rates but higher fees.
Median loan size. The typical Texas loan is around $275,000 on a $305,000 home. That size sits well inside conforming loan limits, so most TX buyers get standard agency pricing.
Refi activity. Cash-out refis common statewide given deep equity, though TX cash-out rules are strict.
What a typical Texas payment looks like
| Line item | Estimate |
|---|---|
| Median home price | $305,000 |
| Median loan amount (typical LTV) | $275,000 |
| 30-yr rate (state avg) | 6.89% |
| Monthly principal & interest | $1,809 |
| Est. full PITI (add ~30% for taxes/insurance) | ~$2,352 |
Directional math for Texas in 2026. Add property taxes, homeowners insurance, PMI (if putting less than 20% down), and any HOA dues for a full monthly cost. Our mortgage calculator lets you plug in your exact numbers.
What's unique about financing in Texas
What most TX borrowers use
FHA share is above average; conventional still dominant in metro Austin and Dallas.
Below-market TX rate options
TSAHC's Homes for Texas Heroes and Home Sweet Texas Home offer competitive rates plus DPA.
Is a refi worth it in TX?
Cash-out refis common statewide given deep equity, though TX cash-out rules are strict.
Rate + grants + closing costs
A below-market rate is only one lever. Stack it with TX down-payment assistance and seller-paid closing costs. See TX grants → · TX closing costs →
Get matched with a Texas lender — free
We'll match you with vetted TX lenders competing for your loan. Compare real Loan Estimates side-by-side — the same Texas buyer can save $2,000–$5,000+ over the life of the loan by shopping three quotes.
Texas mortgage rates: FAQ
What is today's mortgage rate in Texas?▾
The average 30-year fixed mortgage rate in Texas is around 6.89% — roughly 4 bps above the current national average of 6.85%. 15-year fixed loans run about 6.14%, FHA around 6.64%, and VA around 6.54%. Your actual rate depends on credit score, down payment, loan type, and lender competition — always compare Loan Estimates from at least three lenders.
How do Texas mortgage rates compare to the national average?▾
Texas rates typically sit slightly above (about 4 bps higher than) the US 30-year average. The spread reflects local lender competition, loan mix (fha share is above average; conventional still dominant in metro austin and dallas.), and state-level closing-cost dynamics.
What monthly payment can I expect on a Texas home?▾
On the median Texas loan of $275,000 at 6.89% for 30 years, principal and interest run about $1,809/month — before property taxes, homeowners insurance, and (if applicable) PMI or HOA dues. Add roughly 25–35% to that P&I number to estimate a full PITI payment.
Are there special first-time homebuyer rate programs in Texas?▾
Yes. TSAHC's Homes for Texas Heroes and Home Sweet Texas Home offer competitive rates plus DPA. These state-agency programs typically pair a below-market rate with down payment assistance — worth comparing against a standard conventional loan before locking.
Should I refinance my Texas mortgage right now?▾
Cash-out refis common statewide given deep equity, though TX cash-out rules are strict. The break-even math: divide your total refi closing costs by your monthly payment savings — if you'll stay in the home longer than the payback period, refinancing pays off. Our free Refi Optimizer runs the numbers for you.