Houston's 30-year fixed sits at 6.69%. A year ago it was 6.63%. Six basis points of movement in twelve months — effectively nothing.
The rate isn't the story this summer. Inventory is. Houston is carrying 5.2 months of supply against 4.5 nationally, and that's where your leverage is.
This Week's Numbers
From Freddie Mac's survey, released August 6, 2026:
| Loan Type |
Now |
Last Week |
Year Ago |
| 30-Year Fixed |
6.69% |
6.66% |
6.63% |
| 15-Year Fixed |
6.01% |
6.04% |
5.75% |
The 30-year has gone nowhere. The 15-year is the mover — 26 basis points above last August, which narrows the spread and changes the math on a shorter term.
Houston lenders are quoting roughly 6.5% to 6.75% this week. Where you land inside that range comes down to your credit score, your down payment, your loan type — conventional, FHA, VA, or jumbo — and whether you buy points.
The Real Story Is Supply
Houston in June 2026, per HAR:
- Median price: $345,000, flat year over year
- Months of inventory: 5.2 (national: 4.5)
- Days on market: 52, up from 50
- Sales: 8,820, up 3.5%
- Pending sales: up 12.3%
Prices stopped climbing. Homes sit longer. Sellers negotiate now — on price, on closing costs, and increasingly on rate buydowns.
That last one matters most. A seller credit put toward discount points cuts your rate for the life of the loan. Three years ago that ask got you laughed out of the deal. Today it's routine.
What To Do About It
Buying
Waiting for cheaper money has been a losing bet for twelve straight months. The inventory advantage is available today. Run the real payment first, though — in Texas, taxes and insurance do more damage than the rate does. Here's the average mortgage payment in Houston.
Refinancing
At 6.69%, a rate-and-term refi only pencils out if you're above roughly 7.25%. Below that, the play is tapping equity, not chasing rate.
Locking
Three basis points a week is not a trend worth timing. If the payment works today, lock it and stop refreshing rate trackers.
Get a Real Quote
A national average is a starting point, not an offer. The only rate that counts is the one you qualify for. We're Houston-based, and we'll tell you straight where you stand — contact our team.
Rates cited from Freddie Mac's Primary Mortgage Market Survey released August 6, 2026, and Houston Association of Realtors data for June 2026. Mortgage rates change daily and vary by borrower. Figures shown are national averages, not an offer, commitment, or guarantee of any rate or term. Your actual rate depends on your credit profile, loan amount, down payment, property type, and other factors.
Comments