A new heat wave is moving into North Texas, putting the Dallas-Fort Worth area under a heat advisory at least through tonight.

Why it matters: Hot days aren't unusual in Texas, but they fit into a larger global trend of heat records set this summer.

• Scientists are already warning that 2023 could be the hottest year on record.

The big picture: Dangerously sweltering conditions across the Southwest put daily, monthly and some all-time records in jeopardy, from the deserts of southern California to southwestern Texas, writes Axios' Andrew Freedman.

What's happening: Temperatures are expected to reach as high as 102° today with the heat index — what it feels like outside — as high as 110°, according to the National Weather Service.

What they're saying: North Texas already "had one real hot spell and now we're just getting into the heart of summer," National Weather Service meteorologist Jason Dunn tells Axios.

Details: D-FW has had six 100-degree days so far this summer. Last year, there were 47.

Of note: The state's power grid operator, the Electric Reliability Council of Texas, hasn't asked Texans to conserve energy.

• There was enough energy to meet demand as of last night.

Zoom out: Last month was the world's hottest June on record, surpassing the last global record in June 2019, per CNN.

• The nine hottest Junes have occurred in the last nine years.

What's next: The current heat advisory is in place until 9pm today but is likely to be extended as long as the heat index remains above 105°.

• That means you should avoid going outside during the hottest parts of the day and hydrate.

North Texans need an average of 8.9 years to save up for a 10% down payment on the typical home, Zillow data shows.

• This is on par with the national average.

Why it matters: Affordability could be a "major driver of cross-country moves" as buyers seek a lifestyle within their means, Zillow economists say.

• Dallas-Fort Worth is already seeing an influx of new residents from other states.

Zoom in: In the Dallas metro area, the average new homeowner spends 37.9% of their income on monthly housing payments, including mortgage, property taxes and insurance, per Zillow.

• That's based on a median household income of $84,000 for a $377,000 home.

Zoom out: Iowans take just 5.2 years to save up for a 10% down payment, while Hawaiians need 18.4 years to do so.

Between the lines: The share of first-time buyers in the U.S. has shrunk to a record low as inventory and affordability issues persist, according to the National Association of Realtors.

• The median first-time buyer age jumped from 33 in 2021 to 36 to 2022.

Of note: The majority of Americans believe it's the worst time ever to buy a house.

The big picture: Saving enough for a down payment is the biggest barrier to entry, says Brandi Snowden, director of member and consumer survey research at the National Association of Realtors.

Nine in 10 mortgage-holding Texas homeowners have a rate below 6%, per Redfin data shared with Axios. That keeps them locked into place and leaves buyers with few homes to choose from.

Why it matters: Mortgage holders are experiencing the "golden handcuffs" phenomenon — they might have a great rate now, but likely can't move without spending a lot more, says Redfin chief economist Daryl Fairweather.

The big picture: The phenomenon isn't new, but because mortgage rates have more than doubled, it's more stark than ever, Fairweather tells Axios.

By the numbers: About 36% of Texas homeowners had a mortgage rate between 3% and 4% as of late 2022.

• 21% had a mortgage rate below 3%.
• Nearly 33% had a rate between 4% and 6%.

Zoom out: Like Texans, 9 in 10 U.S. homeowners have mortgage rates below 6%, per a national Redfin report.

• Meanwhile: Mortgage rates have swung between 6% and 7% in the U.S. in recent months.

The bottom line: Locally, a mortgage rate above 6% would mean a payment of about $600 more a month than a 3% rate on a median-value house.

What we're watching: How the next Fed meeting July 25-26 will influence mortgage rates.

🍩 Voodoo Doughnut will open its first location in North Texas on Greenville Avenue. (WFAA)

✈️ Dallas-based Southwest Airlines plans to open six new gates at Houston's Hobby Airport. (DMN)

🏥 Tarrant County has the highest number of Alzheimer's patients in the state, followed by Harris County. (Fort Worth Report)

⚖️ The University of North Texas can continue to charge out-of-state U.S. citizens higher tuition than Texas residents who are undocumented, a federal appeals court ruled. (Texas Tribune)

The Texas Final Four movie bracket pits Matthew "Alright, alright, alright" McConaughey against Tom "Houston, we have a problem" Hanks at the top of the bracket, and at the bottom, the wide-open, cinematic Texas spaces of "The Last Picture Show" and "No Country for Old Men."

Yes, but: We're still hearing about movies that are absent, including "The Sugarland Express," "Paris, Texas" and "Office Space," a hometown favorite.

• "The Texas Chainsaw Massacre" was on our list for consideration — it helped launch an entire genre, after all — but it ultimately didn't make the cut, so to speak.

What they're saying: From reader Catherine S.: "How could you leave out Barbarosa (1982), for crying out loud? It's Willie Nelson! Filmed in Big Bend and Fredericksburg, among other Texas locales. It's near or at the top of my Texas list."

🗳 Vote here to help us decide the greatest Texas movie once and for all.

• Voting closes at 3pm today.