46% of Texas households can only afford a house up to $150,000 if 3% paid for a down payment.  This means they could not  meet the 35% limit of monthly housing cost to monthly income requirement.  As interest rates increase then either purchase less house OR increase down payment.  In Texas over the past decades home price increases have been modest with income going up some.  Since the 2007 recession there is a  wider margin as incomes have NOT increased as fast as home prices.  This creates UNCERTAINTY ON FUTURE TEXAS HOME AFFORDABILITY.