Posts Tagged ‘mortgage refinance’
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 
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
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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.
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