Texas Mortgage Rates: What are Austin’s current home refinance rates?  Interested in refinancing an existing home mortgage?  Interested in a new home mortgage loan? We can help y0u get the lowest Texas mortgage rate.  We’re a local Austin mortgage company assisting people all over Texas.  We are a “No Point” lender that can offer you the lowest closing costs.

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

Today’s Austin Mortgage Rates as of 05/12/2009

Texas Conforming Home Loans:  
Today’s 30-Year Fixed Mortgage Rates    4.875%   5.086%
Today’s 20-Year Fixed Mortgage Rates    4.875%   5.163%
Today’s 15-Year Fixed Mortgage Rates    4.500%   4.862%

Texas Jumbo Home Loans: (Amounts that exceed $417,000)
Today’s 30-Year Fixed Mortgage Rates    6.125%   6.273%

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

Today’s Texas Mortgage Refinance Home Equity Line

Mortgage rates moving back up

By Jerry Kronenberg
Monday, May 11, 2009

http://www.bostonherald.com/business/real_estate/view/2009_05_11_Mortgage_rates_moving_back_up/srvc=home&position=also

Procrastinators beware: Home mortgage rates are beginning to rebound from record lows as the U.S. economy shows more and more signs of stabilizing.

“Rates are still low, but they’ve moved up from the super-low point they hit a few weeks back,” said Greg McBride of market-tracker Bankrate.com.  http://www.bankrate.com/mortgage.aspx

Average conforming-loan rates shot up a quarter-point in just two days last week, hitting 5.5 percent on Friday for zero-point fixed-rate mortgages given to well-qualified applicants. That’s up 0.375 points from an all-time-low 5.125 percent average rate Bankrate.com recorded early last month.

Locally, mortgage brokers say customers with excellent finances can still get mortgage rates as low as 4.875 percent, but that’s up from about 4.625 percent early last week. Home mortgage rates began moving upward Thursday after federal officials reported a drop in initial jobless claims and announced that most big U.S. banks had passed new government “stress tests.”

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

Then, the Labor Department reported Friday that America lost 539,000 non-farm jobs in April - 61,000 less than many analysts had forecast. The three better-than-expected reports pushed mortgage rates higher as lenders priced in a possible economic recovery that could raise loan demand and increase inflation. “The economic glass is now being seen as half full instead of half empty,” McBride said.

Although the analyst expects rates to fluctuate in coming months, McBride recommends would-be borrowers not wait to see if interest levels drop back downward. After all, McBride said today’s rates are still well below the market’s 7.5 percent long-term average. In addition, he said, some refinancers who qualify for loans today might not do so tomorrow if home values keep falling.  http://www.bloomberg.com/apps/news?pid=newsarchive&sid=az4_Z53jx4zE

“People who wait to refinance could win the battle but lose the war,” McBride said. “If the value of your house drops and you no longer qualify to refinance, it doesn’t matter how low mortgage rates go.”

Live in Houston?  Give us a call:  713-589-2244  or Visit:  http://houstonhouse.net/mortgage-rates/

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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/

Austin Texas:  Today’s Current Mortgage Rates:   Austin | Cedar Park | Round Rock | Georgetown.

http://www.mylendingplace.com   Phone is 512-996-8194

Even with the recent economic report showing unemployment raising to 5.5%, mortgage rates have remained the same. 

Today’s 30 year mortgage rate is 6.375% and the 15 year is 6.00%.  

 This morning (June 9) the 15 year home loan rate was 5.875%.

Texas Mortgage Refinance Application 

30-Year Fixed 6.375% 6.606%
20-Year Fixed 6.375% 6.680%
15-Year Fixed 6.000% 6.378%
5-Year ARM 5.625% 5.768%

Austin Texas Jumbo Home Loans – Amounts that exceed conforming loan limits $417,000 Read the rest of this entry »