The monthly cost of a new mortgage in Austin, Texas has increased by over 100% in the past 16 months; and increased by 50% in just over 4 months.

Housing prices continue to reach new all time highs, while mortgage rates also scream higher to rates not seen in 11 years as the Federal Reserve winds down the MBS purchase program and attempts to taper its balance sheet in a phase of Quantitative Tightening (QT).

In the same time period that the cost of a mortgage has increased by 100%, hourly earnings (nationally) have increased by only 5.9%. Austin specific data was unavailable.

Here is another look at the data, this time comparing average rental monthly cost with mortgage monthly cost.

Rental prices were available up to February 2022.