Mortgage Loans Texas: What are the current home mortgage loan rates in Austin?  Are you interested in getting the best Texas mortgage loan rates and the lowest closing costs? Whether you’re interested in a new home mortgage loan or refinacing an existing mortgage loan, We can help you today!  We’re a local Austin mortgage company that can asssist you with your mortgage refinance needs.

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

Texas Mortgage Loan Rates in Austin as of 06/12/2009

Mortgage Rate                                                         Interest Rate APR 
Texas Conforming Home Loans and FHA Home Loans: 
Current 30-Year Fixed Mortgage Rates          5.750%   5.950%
Current 30-Year Fixed FHA Mortgage Rates 6.000%   6.773%
Current 15-Year Fixed Mortgage Rates          5.250%   5.583%

Texas Conforming Home Loans and FHA Home Loans: 
(Larger Loan Amounts in Eligible Areas)
Current 30-Year Fixed Mortgage Rates          5.875%   6.021%
Current 30-Year Fixed FHA Mortgage Rates 6.125%   6.844%

Texas Jumbo Home Loans – (Amounts that exceed $417,000)
Current 30-Year Fixed Mortgage Rates          6.375%   6.525%

Texas Mortgage Refinance Home Equity Loan

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Mortgage Refinance Rates Texas: Are home mortgage rates going up in Austin? Do you have questions about Texas home mortgage rates? Give us a call and we’ll answer your mortgage refinance questions. We’re a local Austin mortgage company that can offer you the best mortgage rates and the lowest closing costs. Call us today!           Austin: 512-996-8194    Houston: 713-589-2244

Today’s Mortgage Refinance Rates in Austin as of 06/08/2009
Mortgage Rate                                                  Interest Rate  APR 
Texas Conforming Home Loans and FHA Home Loans 
Today’s 30-Year Fixed Mortgage Rate            5.750%   5.950%
Today’s 30-Year Fixed FHA Mortgage Rate   6.000%   6.773%
Today’s 15-Year Fixed Mortgage Rate            5.250%   5.583%

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

Texas Mortgage Refinance Home Equity Loans

Mortgage Rates Jump to Highest Since December

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aN.fG1W_qxVI

June 4 (Bloomberg) — Fixed U.S. mortgage rates jumped to the highest level this year, signaling the Federal Reserve’s plan to lower borrowing costs has stalled.

The average 30-year fixed rate rose to 5.29 from 4.91 percent a week earlier, Freddie Mac, the McLean, Virginia-based mortgage buyer, said today in a statement. The last time the rate was higher was Dec. 11, when it was 5.47 percent. The average 15- year fixed rate rose to 4.79 percent from 4.53 percent. http://www.mylendingplace.com/mortgage-rates/

“That’s quite a jump,” said Donald Rissmiller, chief economist at New York-based Strategas Research Partners. “The more rates go up, the more we need home prices to go down to equalize consumers’ payments. It’s those payments that have brought about a level of stability in housing unit sales.”

Rising mortgage rates may deepen the U.S. housing slump and sideline consumers hoping to refinance or purchase their first house. The number of Americans signing contracts to buy previously owned homes climbed 6.7 percent in April, largely on cheaper financing costs, according to the National Association of Realtors. http://www.realtor.org/RMODaily.nsf/pages/News2009060201?OpenDocument

This week’s rate increase translates into an additional $31.79 a month for a buyer purchasing the median-priced U.S. home of $170,200 with a 20 percent down payment.

“If people hear that rates are going up, I think they hesitate a little bit,” said Tom Burris, a mortgage banker at Supreme Lending in Dallas. “After a while the reality sets in that 5.5 is much better than 8 percent that we had ten years ago. It’s a good rate, it’s a fair rate.”

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

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Texas Mortgage Rates in Austin:  Should you refinance your home loan?  Texas home refinance rates are still at record lows.  Refinancing your existing home mortgage at a lower interest rate could save you money.  We’re a local Austin mortgage company that can help you with your refinance needs and goals. Give us a call today and we’ll get started today!             Austin:  512-996-8194            Houston:  713-589-2244 

Current Texas Mortgage Rates in Austin  as of 05/04/2009 
Mortgage Rate                                 Interest Rate   APR
Texas Conforming Home Loans: 
Current 30-Year Fixed Mortgage Rate       4.875%     5.086%
Current 20-Year Fixed Mortgage Rate       5.125%     5.416%
Current 15-Year Fixed Mortgage Rate       4.625%     4.989%

Texas Jumbo Home Loans: (Amounts that exceed $417,000) 
Current 30-Year Fixed Mortgage Rate      6.125%     6.273%

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

Need to reduce expenses? Consider refinancing.

http://www.boston.com/business/personalfinance/managingyourmoney/archives/2009/05/time_to_refinan_1.html

These days, everyone is looking for ways to reduce expenses and, fortunately, mortgage rates are now at multi-year lows. Rates on 30 year fixed rate mortgages are now under 5 percent. If you look hard enough, you can probably get close to 4.75 percent, possibly even lower.

http://money.cnn.com/2009/04/30/real_estate/mortgage_rates/index.htm

The currently available rates are the lowest recorded since Freddie Mac began tracking mortgage rates in 1971. And the rate for 15 year fixed mortgage is even lower –closer to 4.5 percent. A year ago, the rates on a 30 year mortgage exceeded 6 percent and 15 year fixed mortgages were around 5.6 percent according to the Wall Street Journal.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aC_CO9KLmIuQ

So, how much can you save by refinancing? If you have a $400,000 mortgage and you refinance from a 6 percent mortgage to a 4.875 percent mortgage, you would be saving almost $300 per month. If you have to pay closing costs, you have to “net” those costs against your monthly savings. For example, closing costs can easily run from $2,400 to over $3,000 so even if you are saving $300 per month, it will take you several months to recoup the fees. If paying closing costs really bothers you, look for a “no/no” loan where you don’t pay any points or closing costs. The home mortgage rate will be slightly higher, but if you think that you might be moving in 3 to 5 years, these loans can make sense.

http://mylendingplace.com/mortgage-rates/

It is important to note that these rates are for conforming loans (those under $417,000 unless you live in certain high cost areas). If you need a jumbo mortgage, the rates will be higher. You also need to be sure that you still have at least 20 percent equity in your home. If you don’t, refinancing might not be an option or you might have to pay a higher rate. You should also be prepared to pay a slightly higher rate if you will be paying off a Home Equity as a part of your refinance because many lenders characterize those loans as “cash-outs”.      

Live in Houston? Interested in Houston mortgage rates?  Give us a call today!  713-589-2244

Looking for a Texas Term Life Insurance quote? Visit: http://texastermlife.com/life-insurance-quote/

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/

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