Texas Mortgage Rates:  Should you refinance your current mortgage?  Have you been considering refinancing your current home mortgage to get a lower interest rate?  If so, NOW is the time while Texas mortgage refinance rates are still low.  We’re a local Austin mortgage company that can help you with your mortgage refinance needs. 

       Give us a call today and we’ll get started today!    Austin:   512-996-8194     Houston:  713-589-2244

Texas Mortgage Rates in Austin  as of 04/20/2009
Mortgage Rates                           Interest Rate   APR
Conforming Home Loans: 
30-Year Fixed Mortgage Rate    4.875%     5.086%
20-Year Fixed Mortgage Rate    5.000%     5.289%
15-Year Fixed Mortgage Rate    4.625%     4.989%

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

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

Texas Mortgage Home Equity Loan

When Should You Refinance?

http://www.chicagotribune.com/features/home/chi-0419-toolkit1-textapr19,0,271614.story

A mortgage refinance push has gained ground as the benchmark 30-year fixed mortgage rate fell below 5 percent. Even President  Barack Obama recently touted the benefits of the low interest rates as “good news” for American families following a round-table discussion with homeowners in Washington.

The current average for 30-year fixed mortgage rates, according to Freddie Mac, stood at 4.82 percent Thursday, down from 4.87 percent the previous week. But when should a homeowner make the jump and what should they watch out for in the process?

Christine Benz, director of personal finance for Chicago-based Morningstar Inc., offered the following advice in a recent posting on morningstar.com.  http://www.morningstar.com/

Refi fees. She points to a recent survey by Bankrate.com that indicated average closing costs on a $200,000 mortgage nationwide totaled $3,118, not including taxes, insurance or prepaid items, such as homeowner association dues. Refinancing fees likely would be a bit lower, and offset by interest-rate savings, but still would pay off only if you stay put for a few years.  http://www.bankrate.com/

Texas Mortgage Rates:  30-Year Fixed Mortgage Refinance Rates in Austin  If you’ve been thinking about refinancing your mortgage,  now is the time.  Texas 30-year fixed mortgage rates continue to be near record lows.  Do you have questions about what type of loan best suits you?  We can answer all your Texas mortgage refinance questions.  We’re a local Austin mortgage company helping people all over Texas.  Give us a call today!  We can get started helping you today!

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

Today’s Mortgage Rates in Texas  as of 04/13/2009
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                    

Obama says timing is right for millions to refinance

http://www.statesman.com/search/content/shared-gen/ap/US_President_And_White_House_Advisers/Obama_Housing.html

WASHINGTON — Declaring “good news” in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. “We are at a time where people can really take advantage of this,” Obama said, seated with a handful of homeowners who have already lowered their bills.

But he also warned people to watch out for scam artists, cautioning, “If somebody is asking you for money up front before they help you with your mortgage refinancing, it’s probably a scam.”

Rates on 30-year fixed mortgages inched upward this week but remain near the lowest level in decades, allowing borrowers with strong credit and stable jobs to save money if they refinance.

The average rate on a 30-year fixed-rate mortgage rose to 4.87 percent this week, up from 4.78 percent last week, Freddie Mac reported Thursday. That was the lowest in the history of the survey, which dates back to 1971.

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

Low interest rates have sparked a surge in refinancing activity, with nearly 80 percent of new home loan applications coming from borrowers seeking to refinance. Freddie Mac’s sibling company, Fannie Mae, refinanced $77 billion in loans last month, nearly double February’s volume.

“The main message we want to send today is there are 7 to 9 million people across the country who right now could be taking advantage of lower mortgage rates,” Obama said in a photo opportunity in the Roosevelt Room. “That is money in their pocket.”

Foreclosures and defaults continue to break records. A record 5.4 million American homeowners with a mortgage, or nearly 12 percent, were at least one month late or in foreclosure at the end of last year. And nearly half of homeowners with a risky subprime adjustable-rate mortgage were in trouble.

http://www.mortgagenewsdaily.com/consumer_rates/67482.aspx

Last month, the Obama administration launched a new plan to provide $75 billion in incentives for the mortgage industry to modify loans to help borrowers avoid foreclosure. On Thursday, the president encouraged people to take advantage of a government Web site — http://www.makinghomeaffordable.gov — to see how they can get help.

In recent weeks nearly 200,000 homeowners have contacted Bank of America to find out if they are eligible to refinance under the Obama administration’s new guidelines, said Vijay Lala, the bank’s product management executive. “We’ve seen a tremendous amount of interest.”   http://houstonhouse.net:80/mortgage-rates/

Give us a call today!    We can help you get the lowest  Texas mortgage refinance rate!     APPLY ONLINE    

Today’s Mortgage Refinance Rates, Austin Texas:  Are you interested in the current record low mortgage refinance rates?  Would you like to refinance your existing home mortgage loan at a lower mortgage refinance rate?  We’re a local Austin mortgage refinance company that can help you today!  We have successfully helped people all over Texas with their mortgage refinance needs.  We can help you.  Give us a call today!

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

Austin’s Current Rates   as of 04/07/2009 
Mortgage Rate                         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%

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

Texas Mortgage Refinance Home Equity Loan                                       

Bernanke Easing Mortgage Refinance Rates for Consumer Rebound:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aBk3iO3J9Ed4

April 3 (Bloomberg) — U.S. Federal Reserve Chairman Ben S. Bernanke is delivering what he promised five months ago, record-low mortgage rates and a mortgage refinancing boom that’s putting cash in consumers’ pockets.

Fixed 30-year mortgage rates fell to a record low for the second consecutive week last week, hitting 4.78 percent, Freddie Mac said yesterday in a statement. The interest rates are the lowest in records dating to 1971, and come after Bernanke told Congress in November that helping the most creditworthy borrowers was essential to reviving the economy.

Mortgage refinance applications in the U.S. rose for the fourth straight week last week as a decline in borrowing costs spurred homeowners to refinance existing home loans, while purchases of new houses unexpectedly rose in February. The Fed’s effort to bring down fixed rates may give consumers as much as $25 billion, said Mark Zandi, chief economist of Moody’s Economy.com. 

http://www.economy.com/default.asp

“It certainly gives further fuel to consumer spending,” said Nicolas Retsinas, director of Harvard University’s Joint Center for Housing Studies in Cambridge, Massachusetts. “It puts more money into circulation.”

http://www.bankrate.com/finance/mortgages/interest-rate-roundup-april-2-2009.aspx

The extra cash may help boost first-quarter consumer spending by 1 percent to 1.5 percent, said Barton Biggs, managing partner at New York-based hedge fund Traxis Partners LLC. Consumer spending accounts for about two-thirds of the U.S. economy. http://mylendingplace.com/mortgage-rates/

        Give us a call TODAY!    We can help you TODAY!     Austin:  512-996-8194    Houston:  713-589-2244

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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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