The Rockets have already said they are going to keep him so I assume any offer under 7mill they will match.
The rockets would have to be very, very foolish to commit so much money to a guy who will at best be Brooks' backup for the next 4+ years and with Kevin Martin likely to gobble up the lion's share of any other guard minutes Lowry might be 'entitled' to ... That's not to say that the market won't set his wage at 7 million if there is enough demand for his services, I just tend to think he's probably more like a 5-6 million dollar man.