If you’ve been watching the housing market lately, you’ve probably noticed one topic coming up again and again: mortgage rates are climbing. According to Freddie Mac, the average 30-year fixed mortgage rate reached 7.28% as of October 1, 2026, up from 7.03% the previous week. With rates moving higher, both buyers and sellers are understandably wondering what this means for their next move.
For buyers, even a relatively small change in interest rates can have a noticeable impact on a monthly mortgage payment and overall purchasing power. As rates rise, some buyers may need to adjust their price range or reconsider how they structure their financing. However, higher rates don’t necessarily mean it’s time to stop looking for a home.
A changing market can also create opportunities. When higher borrowing costs cause some buyers to step back, those who remain in the market may encounter less competition and potentially more negotiating power. Depending on the property and the seller’s circumstances, buyers may also be able to negotiate on price, closing costs, rate-buydown assistance, or other terms that can help offset higher financing costs. 
Trying to perfectly time mortgage rates can be difficult. Rates can move quickly based on economic conditions, inflation, financial markets, and other factors, and there is no guarantee of when, or by how much, they will decline.
Instead of making a decision based solely on the current rate, buyers should look at the entire picture: the home’s price, their monthly payment, available inventory, negotiating opportunities, and how long they plan to own the property. If rates eventually move lower, refinancing may be an option for some homeowners, although future rates and refinancing eligibility are never guaranteed.
Higher rates matter to sellers, too. When buyers’ monthly payments increase, affordability becomes a larger part of the purchasing decision. That makes accurate pricing and positioning even more important.
Homes that are priced appropriately for current market conditions and presented well can stand out to serious buyers. Sellers may also want to consider which terms could make their property more attractive, particularly when competing against new construction or other homes offering buyer incentives.
In markets like Boerne, San Antonio, and the surrounding Texas Hill Country, real estate conditions can vary significantly from one neighborhood and price range to another. What’s happening with a luxury property in Cordillera Ranch may look very different from the market for a home in Boerne, Fair Oaks Ranch, or San Antonio. Looking closely at recent comparable sales, active competition, days on market, and buyer activity is more important than relying on national headlines alone.
Mortgage rates have moved higher, but that doesn’t mean buyers and sellers should automatically put their plans on hold. It means having the right strategy matters more.
For buyers, that may mean evaluating financing options and identifying properties where there is room to negotiate. For sellers, it means understanding how your home compares with the competition and pricing it appropriately for today’s buyers.
If you’re considering buying or selling a home in Boerne, San Antonio, Cordillera Ranch, or the surrounding Texas Hill Country, Kevin Best Properties can help you understand what current market conditions mean for your specific situation.
Thinking about buying or selling? Contact Kevin Best Properties for a personalized look at the market and your options.
