Texas Mortgage Loans: Texas 15-year fixed mortgage loan rates drop Are you interested in the current low Texas 15-year fixed mortgage rates? We’re a local Austin mortgage lender that can offer you the lowest mortgage rates and the lowest closing costs. Give us a call today!   Austin:  512-996-8194    Houston:  713-589-2244

Current Texas Mortgage Loan Rates in Austin as of 06/29/2009
Mortgage Rates                                      Interest Rate APR 
Texas Conforming Home Loans and FHA Home Loans 
Current 30-Year Fixed Mortgage Rates               5.375%   5.571%
Current 30-Year Fixed FHA Mortgage Rates      5.500%   6.245%
Current 15-Year Fixed Mortgage Rates               4.875%   5.204%

Texas Conforming Home Loans and FHA Home Loans: 
(Larger Loan Amounts in Eligible Areas)
Current 30-Year Fixed Mortgage Rates                5.500%   5.643%
Current 30-Year Fixed FHA Mortgage Rates       5.750%   6.451%

Texas Jumbo Home Loans:
(Amounts that exceed $417,000) 
Current 30-Year Fixed Mortgage Rates              6.250%   6.399%

Texas Mortgage Refinance Home Equity Loans

30-year fixed mortgage rate up slightly; other rates dip

http://www.dailyrecord.com/article/20090628/BUSINESS/906280309/1003

The benchmark 30-year fixed-rate mortgage edged up four basis points to 5.8 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in last week’s survey had an average total of 45 discount and origination points. One year ago, the mortgage index was 6.62 percent; four weeks ago, it was 5.45 percent.  http://www.bankrate.com/mortgage.aspx

Also in Bankrate’s weekly survey, the benchmark 15-year, fixed-rate mortgage dipped three basis points to 5.16 percent. The benchmark 5/1 adjustable-rate mortgage declined 11 basis points, to 5.26 percent.

The previous week’s dip in mortgage rates appears to have spurred both new mortgage and mortgage refinance activity, with applications increasing a seasonally adjusted 6.6 percent for the week ending June 19, according to the Mortgage Bankers Association. http://www.mylendingplace.com/mortgage-rates/

When compared with one week earlier, applications for new purchases jumped 7.3 percent, the biggest one-week percentage gain since early April. Refinance activity increased 5.9 percent. Last week’s rise follows four weeks of sharp declines in mortgage activity.

Interested in Houston’s mortgage loan rates? Give us a call: 713-589-2244

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Texas Mortgage Loans: What are today’s 30-year fixed mortgage loan rates in Austin?  Are you interested in finding the best Texas mortgage loan rates and the lowest closing costs from a “No Point” lender?  We’re a local Austin mortgage company that’s been helping people all over Texas accomplish their mortgage refinance needs and goals. Give us a call today!

                            Austin: 512-996-8194                            Houston: 713-589-2244

Texas Mortgage Loan Rates in Austin as of 06/16/2009
Mortgage Rate                                   Interest Rate APR 
Texas Conforming Home Loans and FHA Home Loans: 
Today’s 30-Year Fixed Mortgage Rates          5.500%  5.697%
Today’s 30-Year Fixed FHA Mortgage Rates  6.000%  6.773%
Today’s15-Year Fixed Mortgage Rates           5.125%  5.457%

Texas Conforming Home Loans and FHA Home Loans: 
(Larger Loan Amounts in Eligible Areas)
Today’s 30-Year Fixed Mortgage Rates          5.750%  5.895%
Today’s 30-Year Fixed FHA Mortgage Rates  6.000%  6.714%

Texas Jumbo Home Loans:
(Amounts that exceed $417,000)
Today’s 30-Year Fixed Mortgage Rates          6.375%  6.525%

30-year mortgage rate held steady on Friday

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1251256220090612

NEW YORK, June 12 (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages stayed steady at 5.64 percent late Friday, according to real estate Website Zillow.com. A week earlier, however, the mortgage rate was around 5.40 percent, according to Zillow Mortgage Marketplace. The rate was sharply higher than the roughly 5.00 percent level seen at the end of May and at the beginning of this year, Zillow said.  http://www.zillow.com/Mortgage_Rates/

Higher rates should hurt home purchase activity, and it has already collapsed home loan refinancing. Alan Rosenbaum, president of Guardhill Financial, a New York City-based mortgage banker and brokerage company, said that while they had predicted for several months that mortgage refinance rates were going to rise, they have been surprised by the velocity of the surge. “Higher rates will be devastating to the rebound in the housing market,” he said.

“The consumer is very nervous about purchasing a home at this time and the lower mortgage loan rates were giving them the extra boost of affordability,” he said. The housing market is being driven now primarily by first time home buyers who are very sensitive to mortgage rates, he said.  http://www.mortgagenewsdaily.com/consumer_rates/

“If first time home buyers remain on the sidelines, foreclosures will continue to rise and values would then continue to drop throughout the country resulting in further national wealth destruction,” he said. The battered U.S. housing market, which is in the midst of its worst downturn since the Great Depression, is both the source of and a major casualty of the credit crisis. A setback for the market could hamper a turnaround of the U.S. economy.   http://www.mylendingplace.com/mortgage-rates/

We’re in Texas, helping people all over Texas! Give us a call today! Austin: 512-996-8194 Houston: 713-589-2244

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Texas Mortgage Rates: Is it a good time to refinance in Austin?  Are you a Texas homeowner that has been thinking about refinancing?  Texas mortgage refinance rates are still low.  Now is the time to refinance before the mortgage interest rates start to go back up.  We’re a local Austin mortgage company that has been successfully assisting people all over Texas with their mortgage refinance needs and goals.  We can help you, today!   Give us a call, today!

                                          Austin: 512-996-8194                             Houston: 713-589-2244

Today’s  Rates in  Austin, Texas   as of 04/11/2009
Mortgage Rates                          Interest Rate      APR
Conforming Home Loans: 
30-Year Fixed Mortgage Rate      4.875%    5.086%
20-Year Fixed Mortgage Rate      5.125%    5.416%
15-Year Fixed Mortgage Rate      4.625%    4.989%

Texas Jumbo Home Loans: (Amounts that exceed  $417,000)
30-Year Fixed Mortgage Rate     6.500%   6.651%
 
Texas FHA Home Loans: (loan limits vary by county) 
30-Year Fixed Mortgage Rate     5.000%  5.645%

Texas Mortgage Refinance Home Equity Loan

 Mortgage refinance rates go up slightly:                 

When mortgage refinance rates rise after a sustained fall, borrowers tend to jump off the fence. That happened last week, according to the Mortgage Bankers Association. Applications for home loans advanced modestly.

“While credit guidelines remain stringent, there are plenty of qualified folks who are putting more money back in their pockets by locking in a low mortgage interest rate,” says Bob Walters, chief economist for Quicken Loans. “Incentives like the First-Time Homebuyer Credit are helping to generate increased purchase activity.”

  http://www.mortgagenewsdaily.com/04092009_freddie_mac_rates.asp

There are other incentives out there besides the first-time buyer tax credit. One is home prices. According to the National Association of Realtors, almost half of home resales are “distressed” transactions: foreclosed houses and short sales. Typically, they sell for about 20 percent less than comparable homes, according to the Realtors.

Another sales incentive would be lower mortgage rates. They could be — maybe should be — even lower. The rates on mortgage loans are related to yields on mortgage-backed securities. The borrower’s rate reflects a markup over the yields on mortgage-backed securities — and that markup has been higher than normal this year.

Mortgage refinance rates arguably could be a quarter of a percentage point lower, ballparks Dick Lepre, loan consultant for Residential Pacific Mortgage in San Francisco. With so much consolidation in the industry over the last two years, a few huge lenders dominate the market. “They’re all trading profit for market share,” Lepre says.

http://mylendingplace.com:80/mortgage/rates/texas/

If a bank did cut mortgage-rate margins in a bid for larger market share, the others likely would follow. Then all the banks would have the same market shares as before, but would be making less money. In effect, banks are milking mortgage customers as one of the few sources of profit available. The Federal Reserve and the FDIC don’t mind — they want banks to be profitable and stable. 

The message might be getting through to borrowers that 30-year fixed mortgage rates are unlikely to sink well below 5 percent for any sustained period, except for a few lucky, well-qualified borrowers.

“We’re not going to 4 percent, so take advantage of the opportunity while you can,” says Jim Sahnger, mortgage consultant for Palm Beach Financial Network in Stuart, Fla.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abS1N9zdTxtA

Sahnger worries that homeowners will wait for interest rates to fall further before applying to refinance — and by the time they apply, their houses will have lost so much value that they no longer can qualify for a standard mortgage refinance.

http://www.bankrate.com/finance/mortgages/mortgage-analysis.aspx

A good thing finally came to an end. Mortgage refinance rates went up this week, after a four-week slide that sent rates to lows that hadn’t been seen in more than 50 years.

The benchmark 30-year fixed-rate mortgage rose 7 basis points, to 5.2 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week’s survey had an average total of 0.47 discount and origination points. One year ago, the mortgage index was 5.96 percent; four weeks ago, it was 5.37 percent.

The benchmark 15-year fixed-rate mortgage rose 2 basis points, to 4.75 percent. The benchmark 5/1 adjustable-rate mortgage rose 4 basis points, to 5.27 percent.

In the nearly 24-year history of Bankrate’s weekly rate survey, the average rate on the 30-year fixed mortgage has been lower just twice — and those two times were the previous two weeks. The all-time low in Bankrate’s survey was last week’s average of 5.13 percent.  http://www.bankrate.com/finance/mortgages/rate-roundup.aspx

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Current 15 Year Fixed Mortgage Rates, Austin Texas:  Interested in the current low mortgage refinance rates?  Unsure what type of mortgage refinance loan best suits your needs?  Have questions?  We can answer all your mortgage refinance questions.   Give us a call  today!

                             Austin:  512-996-8194          Houston:  713-589-2244

Austin’s Current Rates as of 04/02/2009
Mortgage Rate                          Interest Rate  APR
Conforming Home Loans: 
30-Year Fixed Mortgage Rate     4.750%    4.960%
20-Year Fixed Mortgage Rate     5.000%    5.289%
15-Year Fixed Mortgage Rate     4.500%    4.862%

Jumbo Loans: (Amounts that exceed $417,000) 
30-Year Fixed Mortgage Rate     6.500%    6.651%

Texas FHA Home Loans: (loan limits vary by county) 
30-Year Fixed Mortgage Rate     5.000%    5.645%

U.S. MBA’s Mortgage Applications Index Rose 3 Percent Last Week

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aRmsnYYZvXsQ

April 1 (Bloomberg) — Mortgage applications in the U.S. rose for a fourth consecutive week as a decline in borrowing costs prompted more mortgage refinancing.

The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan rose 3 percent to 1,194.4 in the week ended March 27 from 1,159.4 the prior week. The group’s refinancing gauge gained 3.7 percent, following a 41 percent gain the prior week, and its purchase inde rose 0.1 percent.

Government plans to step up purchases of mortgage-backed securities sent borrowing costs toward historic lows last week, prompting homeowners to refinance their mortgages to cut their payments. Still, rising unemployment and slumping consumer confidence signal the housing recession may last all year.

“Mortgage refinance rates are coming down and refinancings are going to spring back,” Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said before the report. Still, “you have to be confident in your job and income prospects to buy a home and confidence is sorely lacking.”

http://www.mortgagenewsdaily.com:80/mortgage_rates/blog/65101.aspx

The refinancing gauge climbed to 6,600.1 last week from 6,363.2, today’s report showed. The mortgage bankers’ purchase index increased to 268 last week from 267.8 the previous week, today’s report showed.

The share of applicants seeking to refinance loans rose to 80.4 percent of total applications from 78.5 percent.

The average rate on a 30-year fixed-rate loan fell to 4.61 percent, the lowest level since the mortgage bankers group began records in 1990, from 4.63 percent the prior week.

http://money.cnn.com/2009/03/31/real_estate/January_Case_Shiller/index.htm

The Federal Reserve last month announced a plan to increase purchases of mortgage-backed securities this year by as much as an additional $750 billion, adding to the $500 billion it pledged between January and June. The central bank also will buy as much as $300 billion in Treasuries during the next six months.

At the current 30-year mortgage rate, monthly borrowing costs for each $100,000 of a loan would be about $513, or $71 less than the same week a year earlier, when the rate was 5.76 percent.

The average rate on a 15-year fixed mortgage fell to 4.45 percent from the prior week’s 4.48 percent. The rate on a one- year adjustable mortgage fell to 6.2 percent from 6.21 percent.

http://mylendingplace.com:80/mortgage/rates/30-year-fixed-rates/

Home sales are showing some signs of approaching a bottom. Sales of previously owned homes unexpectedly increased 5.1 percent in February from the prior month, while purchases of new homes rose by 4.7 percent.

“Lower interest rates together with seasonal trends have clearly moved sales higher in the past few weeks,” Stuart Miller, chief executive officer of Lennar Corp., the fourth-largest U.S. homebuilder by revenue, said on a conference call yesterday. Lennar posted a bigger-than-forecast second quarter loss, the company said.

                     Give us a call today!     Austin: 512-996-8194    Houston: 713-589-2244

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