The Federal Reserve left interest rates unchanged in October, following a quarter-point increase in September. That pause offers a breather for anyone borrowing in North Texas, though the Fed chair has signaled at least one more hike could come before year’s end. Annual inflation is running at 3.7%, so prices on everyday goods and big-ticket items alike are still climbing faster than most of us would like.

The Texas numbers tell the story. The average credit card balance in the state now sits at $8,394, up 4.2% year over year, ranking 15th nationally. Steven Haynes, an economics professor at the University of Texas at Dallas, says defaults are slowly rising and expects any meaningful rate relief to arrive in 2027 at the earliest. Meanwhile, Texas unemployment holds steady at 4.4% and state growth continues to outpace the national rate by 0.8 percentage points.

For families in Waxahachie, the practical advice stays the same: know the interest rate on every balance you carry, pay down the highest one first, and build a little cushion where you can. Whether you’re saving toward a home near the historic courthouse square or just keeping the truck running through football season, the next few months favor planning over waiting.

How has inflation changed the way your household budgets this year? Let us know in the comments or give us a call on the air.