Today’s Mortgage Rates | Current Texas Refinance Home Equity Rates| Texas
May 2, 2008
Today’s Texas Current Mortgage Rates (May 2, 2008) Austin, Texas
Now might be a great time to refinance your home loan or pull “cash out” with a home equity loan. Both the 30 and 15 year rates are below 6%.
We do home loans all over Texas and are based out of Austin, Tx.
The 30 year mortgage rate is between 5.875%-6.00% depending on your credit. The lowest mortgage rate is the 15 year at 5.37%-5.5%. …
Today’s Mortgage Rates | Current Texas Refinance Home Equity Rates| Texas
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Most of this up-and-down has to do with today’s economic news. Remember mortgage rates are very sensitive to positive economic news. Good economic news makes rates go UP, bad news makes mortgage rates go down.
For example, today we had a “jobs report” come out today stating the unemployment rate went down from 5.1% to 5.0%. While this is good (many people are talking as though we are in a recession) it made mortgage rates go up .125. This is one reason why locking a mortgage rate is important. The rate your mortgage person puts on a good faith estimate may disappear if he/she doesn’t lock the rate.
Today’s positive news made the 30 year fixed rate go from a 5.875% to a 6.00%.
And if you need 100% financing we still offer 100% mortgages or 80/20s for those who want to avoid PMI.
Current Mortgage Rates | Texas Refinance
40-Year Fixed 6.375% 6.573%
30-Year Fixed 6.000% 6.226%
20-Year Fixed 5.875% 6.174%
15-Year Fixed 5.500% 5.873%
5-Year ARM 5.500% 5.563%
Austin Jumbo Home Loans – Amounts that exceed conforming loan limits of $417,000
40/30 Fixed-Rate Balloon 7.750% 7.899%
30-Year Fixed 7.250% 7.408%
15-Year Fixed 6.375% 6.623%
10-Year ARM 7.750% 7.107%
5-Year ARM 6.375% 5.832%
Posted in Texas Current Mortgage Rates
Serving all of Texas
512-996-8194
Texas Mortgage Refinance Broker
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