– The current average 30-year fixed mortgage interest rate is higher than 7%, which is a huge swing from the sub-3% rates we saw during the pandemic. So what impact are we seeing on the local housing market?
Even though San Antonio home prices have increased, it is still a lower cost of living than in other parts of the state. However, the fact remains that interest rates are a big factor in home sales, and 7% is higher than most current buyers are used to seeing. Other than earlier this year, it is the highest average the country has seen since 2001.“
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