SAN ANTONIO, Texas — San Antonio housing officials say the local market remains stable despite the average U.S. mortgage rate for a fixed 30-year loan reaching 7%, as homebuyers continue to focus on overall affordability.
Beverly Hankinson, a vice president at San Antonio-based Frost Mortgage, said higher mortgage rates could cause some buyers to pause before entering the Texas housing market, but she expects the market to remain stable.
Hankinson said potential buyers she has met with focus more on whether they can afford a home and its monthly payment than on the mortgage rate alone.
She also said Texas continues to offer relatively affordable homes compared with many other parts of the country.
Hankinson said Texas also has a large supply of homes on the market and continues to attract about 1,000 new residents each day, factors she said support the state’s housing market.
Hankinson encouraged prospective buyers to compare mortgage offers from multiple lenders even after securing a rate.
She said lenders may offer different rates as they compete for borrowers, and the national average reaching 7% does not automatically mean every lender will charge the same rate.
The San Antonio Board of Realtors also emphasized affordability as a key consideration for local buyers.
Ed Zapata, chair of the board, said mortgage rates affect buyers’ purchasing power, but home prices, property taxes and insurance also play major roles in overall affordability.
September home sales figures for San Antonio have not yet been released.
The local market posted stronger results in August, with home sales in the San Antonio area increasing 4% from August 2025.
Texas home sales fell more than 4% during the same month.
Nationally, existing-home sales declined 2% from July to August and fell 1.2% compared with August 2025, according to the National Association of Realtors.