Texas Mortgage Rates: Should You Refinance Your Mortgage?

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/