Posts Tagged ‘30 year fixed’
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 
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
Need Texas Term Life Insurance? Get a Free quote! Visit: http://www.texastermlife.com/
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
Texas Term Life Insurance offers FREE quotes! Click here OR visit: http://www.texastermlife.com/
