What are the current mortgage rates? Is it better to get a 30 or 15 year fixed rate in TX?

Today’s Mortgage Rates: (Texas)

Fixed Rate 30 Years 6.375% 6.606%

Fixed Rate 20 Years 6.375% 6.680%

Fixed Rate 15 Years 5.875% 6.252%

5-year ARM rate 5.750% 5.740%

Texas Jumbo Mortgage Loans: amounts in excess of conforming loan limits $417,000. Remember that a jumbo home loan is a home loan that exceeds $417,000. Typically, if the client has good enough credit, I’d like to do an 80/20 or 80/15 to keep the first lien under $417,000.

However, today’s jumbo mortgage rates are:

40/30 Fixed Rate Globe 8.250% 8.404%

Fixed at 30 years 7,750% 7,913%

Fixed at 15 years 6.625% 6.875%

Remember, good economic news tends to drive mortgage rates up and bad economic news tends to drive mortgage rates down.

Current Mortgage Rates * Mortgage Loan Refinancing * Austin Dallas Houston Lubbock * Refinancing Rates

For example, right after 9/11, the economy took a huge hit. And the mortgage rates when they drop to the 4% range; triggering the refinancing boom.

Lately, there have been several positive economic reports, such as a 0.9% increase in GDP. So guess what mortgage rates went up? Good economic news, the mortgage rate rises…

If you are thinking of buying or refinancing a home, now is a good time as the mortgage rate could continue to rise. We also help people do cash-out home equity refinances on investment properties.

If you would like to refinance an investment property or withdraw equity (cash out) from your investment home, please complete this mortgage application.

Or give us a call at 512-996-8194 and let’s talk about your goals. There’s never an obligation to talk to us and we’ll even send you a free copy of your credit report.