Mortgage rates are getting close to 7% again, and that is likely to get the attention of buyers in San Antonio and across South Texas.The Wall Street Journal recently reported that the average 30
Mortgage Rates Near 7%: What San Antonio Homebuyers Need To Know
Dated: September 16 2026
Views: 7
Mortgage rates are getting close to 7% again, and that is likely to get the attention of buyers in San Antonio and across South Texas.
The Wall Street Journal recently reported that the average 30-year fixed mortgage rate was 6.76% according to Freddie Mac, while some daily mortgage-rate measurements had already moved above 7%.
The reason goes beyond the Federal Reserve. Mortgage rates are heavily influenced by the bond market, particularly the 10-year U.S. Treasury yield, which recently reached 5%, its highest level since 2007. Concerns about inflation, energy prices and global uncertainty have helped push yields higher.
What Does a 7% Mortgage Rate Mean for Buyers?
For buyers, the biggest impact is purchasing power.
On a $400,000, 30-year mortgage, principal and interest is approximately:
- 6% rate: $2,398 per month
- 7% rate: $2,661 per month
That is roughly $263 more every month without buying any more house.
The Wall Street Journal quoted Mortgage Bankers Association Chief Economist Michael Fratantoni saying:
“A jump in rates like this will certainly cause [prospective home buyers] to pause.”
I understand that reaction. But before automatically deciding to wait, it is worth looking at the entire transaction.
San Antonio Buyers May Still Have Options
In the San Antonio real estate market, buyers may be able to negotiate seller concessions that can help with closing costs or a mortgage rate buydown. New-home builders may also offer financing incentives, depending on the community and current promotions.
For military members and veterans using a VA loan, there may be additional strategies worth exploring.
The important question is not simply, “What is today's mortgage rate?”
It is: “Can we structure a home purchase that gives you a comfortable monthly payment?”
That is where having an experienced San Antonio REALTOR® working alongside a knowledgeable lender can make a significant difference. I regularly encourage buyers to speak with an experienced mortgage professional such as Monty Felts with CrossCountry Mortgage to review current financing options, payment strategies and loan programs.
If you are thinking about buying a home in San Antonio, Schertz, Cibolo, New Braunfels or the surrounding communities, I would be happy to help you look at the numbers before you decide whether to buy now or wait.
No pressure. Just good information so you can make the decision that is right for you.
Fred Wulff, REALTOR®
Top San Antonio Realtor | Military & Veteran Real Estate Specialist
Your Home Is My Mission.
Fred Wulff
Fred Wulff is a nationally recognized San Antonio Realtor with REMAX Corridor, specializing in military relocation, VA home buyers, first-time homebuyers, and families relocating to and from the San A....
Latest Blog Posts
If you have been scrolling through homes for sale in San Antonio, finding one you like, and then closing the app when you see the price or estimated monthly payment, you are not alone.Affordability
That extra bedroom downstairs. A second primary suite. A bonus room with a nearby bathroom. A private entrance, casita, kitchenette, or separate living area.To some homeowners, these may simply feel
Should you rent or buy your next home? The right answer depends on more than the monthly payment. Your plans, lifestyle, finances, and the local housing market should all be part of the decision.For
Information provided courtesy of LERA MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed. Provided courtesy of LERA MLS. Copyright 2026 LERA MLS, All Rights Reserved. Data last updated September 18, 2026 1:17 PM UTC
Central Texas MLS | Four Rivers Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
