Mortgage Refinance Rates Texas: Are home mortgage rates going up in Austin?

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 

Need Texas Term Life Insurance? Get a FREE quote: http://texastermlife.com/life-insurance-quote/