Home Equity Loan Austin Texas
Current Mortgage Refinance Rates in Austin, Texas: Is now the right time to refinance? Unsure of what type of mortgage refinance loan is best for you? Are you interested in a home equity loan while current interest rates are at an all time LOW? We’re a local Austin mortgage company that can answer all your mortgage refinance questions. Give us a call today! 512-996-8194
Austin’s Current Rates as of 03/31/2009
Mortgage Rate Interest Rate APR
Conforming Home Loans:
30-Year Fixed Mortgage Rate 4.625% 4.833%
20-Year Fixed Mortgage Rate 5.000% 5.289%
15-Year Fixed Mortgage Rate 4.625% 4.989%
Texas 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%
Texas Mortgage Refinance Home Equity Loan 
Fed’s Move to Lower Mortgage Rates: May Backfire on Market
http://www.cnbc.com/id/29962475?__source=RSS*tag*&par=RSS&Sort=MostRecent
The Federal Reserve’s latest moves to push down mortgage refinance rates quickly raised expectations about helping the housing recovery, but it may be months before the impact is entirely apparent and the effects may not all be positive, say people in the real estate and housing industries.
First and foremost, there is general skepticism about the how much impact government intervention will have in the marketplace, as well as concern about the potential for unintended consequences.
“It’s wrong to place too much hope on what the Fed would be able to accomplish in pushing interest rates lower,” says economist Dean Baker, co-director of the Center for Economic and Policy Research. “There’s a limit to what they can realistically do.”
That’s apparent in what some call the inevitable bounce back in interest rates since the Fed’s announcement at the March 19 FOMC meeting that it would increase its planned purchase of GSE and MBS debt as well as finally begin buying longer-term Treasuries.
http://www.mortgagenewsdaily.com/consumer_rates/64316.aspx
The yield on the 10-year note went from roughly 3.00 percent down to 2.50 percent, but has slowly climbed back to around 2.75 percent. Thirty-year mortgage rates, which track the 10-year yield, have moved accordingly.
“Mortgage rates are historically low, but the expectation is that interest rates should be much lower than they are,” says Manhattan Mortgage Company CEO Melissa Cohn.
That sort of criticism highlights the difficulty of the Fed’s mission, and though the significant drop in mortgage rates in the past six months has been welcome in almost all quarters, it is hardly a magic bullet for the multi-faceted housing market. For one, Cohn and others have seen a greater increase in loan refinancing activity that in loans for home sales.
http://money.cnn.com/2009/03/31/real_estate/January_Case_Shiller/index.htm?postversion=2009033109
The Mortgage Bankers Association last week increased its forecast for loan originations in 2009 by 40 percent to $2.8 trillion, more than any year since 2005 and the fourth highest on record. Some 71-percent of that, however, will be mortgage refinancing. Home purchase origination’s will be almost 4-percent lower than last year.
“For the purchase market, it is still an issue of the economy,” says Jay Brinkman, chief economist and senior vice president of the mortgage industry trade group. “I don’t think mortgage interest rates were an impediment even before the Fed’s move.”
http://mylendingplace.com/mortgage/rates/todays/
Mortgage refinancing does not a housing rebound make, although it certainly increases the chance of keeping a homeowner out of foreclosure. That and other forces continue to put a drag on housing. Right now, the single-family market is still in the doldrums, though many measures point to a possible bottom.
Apply online or Give us a call! We will work with you, Today! 512-996-8194
Today’s mortgage refinance rates in Austin, Texas have dropped! Would you like to benefit from the lower rates? Do you have questions about what type of mortgage refinance loan is right for you? Are you interested in a Home Equity Loan? We can answer all your questions, today! We’re a local Austin mortgage company that has been helping people all over Texas with their mortgage refinance needs.
Call us today in Austin! 512-996-8194 or in Houston: 713-589-2244
Austin’s Current Rates as of 03/13/2009 
Mortgage Rates Interest Rate APR
Conforming 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 Loans – Amounts that exceed $417,000
30-Year Fixed Mortgage Rate 6.500% 6.651%
Texas FHA – loan limits vary by county.
30-Year Fixed Mortgage Rate 5.000% 5.645%
Texas Mortgage Refinance Home Equity Loan
Bank of America Says ‘Thank Goodness’ for Countrywide:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDe2IcgvIIQI
March 13 (Bloomberg) — Bank of America Corp.’s mortgage- origination business, the largest in the U.S., is booming after the purchase of Countrywide Financial Corp. and as lower loan rates push a wave of refinancing, the unit’s chief said.
“Volume is good, application quality is holding up and the acquisition of Countrywide is really paying off for us with the additional capacity,” Barbara Desoer, head of mortgage, home equity and insurance, said in a telephone interview yesterday. “Thank goodness we have it.”
Kenneth Lewis, Bank of America’s chief executive officer, told reporters yesterday he expects the Charlotte, North Carolina-based company to make money this year after posting a profit in January and February. Last month, he said its “stars” so far in 2009 were businesses acquired with Countrywide, the largest U.S. home lender, and Merrill Lynch & Co.
The average rate on a typical 30-year fixed mortgage was 5.03 percent in the week ended yesterday, according to Freddie Mac. Federal Reserve purchases of mortgage bonds helped drive rates down from 6.46 percent in late October, to a record 4.96 percent in mid-January. Bank of America isn’t yet sure exactly how much its lending will be boosted by the flexibility that the U.S. last month gave Fannie Mae and Freddie to help consumers with little or no home equity refinance, Desoer said.
http://www.mortgagenewsdaily.com:80/03112009_mba_mortgage_applications.asp
Desoer, 56, also said that the bank is seeking to make more “jumbo” mortgages, which start at $417,000 in most areas and up to $729,750, the limits for now U.S.-run mortgage firms Fannie and Freddie. The company’s is offering “extremely competitive” rates on jumbo mortgages offered directly to consumers, she said.
‘Balance-Sheet Capacity’
“Bank of America has balance-sheet capacity and we’ve allocated it to jumbos given our presence in some of the states and regions where that’s important,” she said. “We’re very much open for business.”
The bank sees an opportunity to do more of the loans with Merrill Lynch’s “mass-affluent” customers, even as it continues to integrate the acquired company, she said. Its Web site says it offers $800,000 30-year fixed-rate loans with 20 percent down payments in New York for 6 percent, versus the 6.78 percent average in the state, according to Bankrate.com.
To keep up with mortgage demand, Bank of America has added roughly 3,000 employees to its origination unit, including about 1,000 new to the company and 500 shifted from its home-equity division, as well temporary workers, Desoer said. The staff totals about 25,000, Dan Frahm, a spokesman, said.
http://money.cnn.com/2009/03/12/real_estate/mortgage_rates/index.htm
New Mortgages
Desoer wouldn’t discuss the recent performance of home loans already on its books, saying only “you 
know what’s happening with” home prices and unemployment “and the potential impact those can have on borrowers being under stress.”
Margins on new mortgages sold off as government-supported mortgage bonds, such as those guaranteed by Fannie and Freddie, are higher than a year ago, she said. U.S. efforts to keep rates on those loans low will be an “extended event,” she added.
Bank of America’s mortgage-servicing business has more than doubled its staff that deals with troubled borrowers to 5,000 in the past year. Still, the company hasn’t always provided the best service, in part because of the volume of calls for help, Desoer said. (more…)
Are you an Austin homeowner considering a Home Equity Loan? Let us answers your questions and go over your options with you. We’re a local Austin mortgage refinance company that can help you today!
All you have to do is give us a call in Austin: 512-996-8194
Austin’s Current Rates: as of 02/25/2009 
Mortgage Rate Interest Rate APR
Conforming Loans
30-Year Fixed Mortgage Rate 5.000% 5.213%
20-Year Fixed Mortgage Rate 5.375% 5.669%
15-Year Fixed Mortgage Rate 4.750% 5.115%
Texas Jumbo Loans – Amounts that exceed $417,000
30-Year Fixed Mortgage Rate 6.500% 6.651%
Texas FHA – loan limits vary by county.
30-Year Fixed Mortgage Rate 5.500% 6.170%
Texas Mortgage Refinance Home Equity Loan
Your Equity Options 
Home equity line of credit or a home equity loan: Which is right for you?
http://realestate.yahoo.com/loans/guides/your_equity_options.html;_ylt=AqxdxEEBybjCp63jt0hdEGCPvYl4
If you’re a homeowner, you can borrow against the value of your house through either a home equity line of credit (often called a HELOC or a line) or a home equity loan (often called a HEL or loan). Both are essentially a second mortgage.
What’s the difference?
A HELOC is a form of revolving credit similar to a credit card. It allows you to draw funds, up to a predetermined limit, whenever you need money. There is generally a minimum payment due each month, with the option to pay off as much of the line as you want. With a HEL, you receive a lump sum of money and have a fixed monthly payment that you pay off over a predetermined time period. In each case, the amount you can borrow is based on factors such as your income, debts, the value of your home, how much you still owe on your mortgage and your credit history.
Benefits
The appeal of both of these types of loans is their interest rates, which are almost always lower than those of credit cards or conventional bank loans because they are secured against your home. In addition, the interest you pay on a home equity line or loan is often tax deductible (consult a tax advisor about your particular situation).
http://www.mortgagenewsdaily.com:80/02192009_Mortgage_Rates.asp
Which is best for you?
Generally, a HELOC is a good choice to meet ongoing cash needs, such as college tuition payments or medical bills. A HEL is more suitable when you need money for a specific, one-time purpose, such as buying a car or a major renovation.
Comparing the costs
Both HELOCs and HELs usually carry a higher interest rate than that of a first mortgage. With a HEL, you may choose either an adjustable rate that fluctuates according to variations in the prime rate, or you may opt for a fixed rate. A fixed rate enables you to budget a set payment monthly without worrying about increasing costs should interest rates rise. With a HEL, there are also closing costs that you should consider.
(more…)
Home Equity Loan Texas | Current Mortgage Rates | Texas 30 year 15 years fixed rates
Home Equity Loans, Austin Texas: I recently helped a client get out of debt with a home equity loan. They’ll save over $900/month. Now they have much more room in their monthly budget.
With the current 30 year fixed rates around the 6.00% range and the 15 year fixed rate in the 5.25% range (May 2008), this may be a good time to refinance your home or investment property and get out of consumer debt at the same time.
If you have property in Texas and want to buy or refinance, call 512-996-8194 or email jon@mylendingplace.com
Please complete the free, no-obligation Texas Home Equity Home Loan Application.
Thinking of refinancing your home or investment property? Want to lower you mortgage rate, move from a 30 year mortgage to a 15 year fixed rate, or consolidate high interest consumer debt and save hundreds of dollars each month. Gas prices aren’t likely to come down but your total monthly expenses can by refinancing your home or investment property. (more…)
