Whoever you wanted to win on Tuesday, I feel a little more optimistic about Austin real estate right now. Some of the buyers who are actually out there making offers are getting real price cuts. Some are getting sellers to help with closing costs or repairs. I don't know how long that kind of room will last. On some houses, you may already be seeing it tighten.

Here's the part I care about. If you call me about a house, I want to sit down with you and show you what the mortgage will actually cost. What's the full payment with taxes and insurance? How much cash do you need at closing? If the seller is willing to give somewhere, would you rather get the price down or keep more money in the bank? We can put both offers side by side and talk through what works for you.

I like that part of the job. I can run the numbers, but I also want to hear what you're comfortable spending and what else you've got going on. And if I'd pass on the deal at that payment, I'll tell you. I want to keep that part human.

What happened to mortgage rates after the midterms?

Mortgage News Daily's national 30-year fixed index went from 7.30% on Tuesday to 7.22% Wednesday and 7.17% Thursday. Freddie Mac's separate weekly average moved from 7.24% to 7.18%, its third straight weekly decline. Those are two national measures with different reporting windows. Your quote will depend on the loan, points and other details. Wednesday's daily report · Thursday's daily report · Freddie Mac

The bond market had already started moving before Tuesday. The 10-year Treasury yield was 5.05% on October 28, 4.95% on Election Day and 4.90% the next day. Mortgage-backed securities strengthened Wednesday, and Thursday's market coverage pointed to investors buying bonds as tech stocks sold off. The election was part of the week's news. The rate move had several things going on at once. 10-year Treasury data · Wednesday bond recap · Thursday bond recap

What does the Austin housing market look like?

Unlock MLS's September report came out October 13. It gives us a picture of the market heading into the election. In September, 2,223 homes sold across the Austin metro, down 14.8% from a year earlier. The median was $421,000 across the metro and about $571,000 in Austin proper. Across the full third quarter, metro sales were down 2.4% and the median price was down 2.3% year over year. The month and the quarter tell slightly different stories. Unlock MLS September report

  • Austin metro — $421,000 median sale price, 5.4 months of inventory.
  • City of Austin — $570,958 median sale price, 5.4 months of inventory.
  • Williamson County — $395,000 median sale price, 5.0 months of inventory.
  • Bastrop County — $340,000 median sale price, 7.6 months of inventory.

Bastrop is the one that caught my eye. It had about 10% fewer homes listed than a year earlier, yet it had more months of supply. That's because the measure takes the pace of sales into account. Across the metro, homes that sold went for 92.7% of their original asking price on average, up from 91.4% a year earlier. If I were writing an offer this weekend, I'd want to know how long that particular house has been sitting, what else I could buy nearby and what the closest comps actually sold for. Unlock MLS city and county data

Have buyers had this much room before? We've seen similar inventory recently. Unlock MLS reported 5.9 months of supply across the metro in August 2025, compared with 5.4 this September. I'd watch pending sales, how long comparable homes sit, and what sellers are actually agreeing to in your price range. If more buyers start writing offers on the same homes, that room can shrink even while the metro numbers still look pretty steady. Unlock MLS August 2025 report

What I’d run before you write an offer

Say you and your Realtor find a house you like that's been sitting a while. Call me before you write the offer. We can run a lower price and then run a seller credit toward closing costs, if the loan allows it. I'll show you what each does to your monthly payment and how much cash you'd bring to closing. Sometimes the buyer cares more about what stays in the bank after closing. That's good to know before your Realtor starts negotiating.

That's where I think good Realtors and mortgage advisors can separate themselves right now. Your Realtor can tell you what they see on that street and whether the seller might move. I can show you what that move is worth in dollars. If you've already got a mortgage and you're thinking about refinancing, we can do the same thing with your current loan and a fresh quote.

Frequently asked questions

Did mortgage rates drop after the 2026 midterm elections?

Yes. Mortgage News Daily’s national 30-year fixed index fell from 7.30% on November 3 to 7.17% on November 5. Rates had already eased before the vote, and economic data and bond-market trading also mattered.

What was the median home price in Austin in September 2026?

Unlock MLS reported $570,958 in the City of Austin and $421,000 across the Austin–Round Rock–San Marcos metro. The two figures cover different geographies.

Can Austin-area buyers negotiate seller credits right now?

It depends on the house, the seller and the loan. Look at nearby sales, listing history and competing homes. Then compare a price reduction with an allowable credit toward closing costs using the same loan assumptions.

Should I refinance after this week's rate drop?

Start with a written quote and compare it with your current loan. Look at the rate, closing costs, remaining term, and how long you expect to keep the mortgage. That tells you more about the potential savings than a national average.

Have a listing or a mortgage quote you want to compare? Send it to me and I’ll walk through it with you.