Today’s Current Rates Texas´¯`Today’s 30 year fixed rate is 5.625%

September 11, 2008

Today’s Current Rates | Sept 11, 2008 Mortgage Rates | Refinance | Home Equity Loan Texas

30-Year Fixed Mortgage 5.625% 6.099%
20-Year Fixed Mortgage 5.750% 6.048%
15-Year Fixed Mortgage 5.375% 5.873%

Texas Jumbo Loans Home Loans

30-Year Fixed 8.375% 8.545%
15-Year Fixed 7.625% 7.883%

Do to recent changes with Fannie Mae and Freddie Mac, mortgage rates are really low.

So now is the time to refinance if you want a better rate, move from a 30 year to a 15 or 10 year, or consolidate your bills with a home equity loan.

Home Equity Loans: If you’ve been waiting on rates to go down to do a home equity loan now is the time. Same with Jumbo home loans. Any loan over $417,000 is classified as a jumbo mortgage–and these have higher rates than regular home loans. However, with these low rates, now is the time to refinance your jumbo home loan or do a home equity loan.

Phone 512-996-8194

Or complete the online applicaiton at Texas Mortgage Refinance Home Equity Loan Application. It’s free and there’s never an obligation.

Mortgage rates drop after Freddie, Fannie bailout

http://money.cnn.com/2008/09/11/real_estate/mortgage_rates/index.htm?source=yahoo_quote

New York (CNNMoney.com) — Rates on 30-year mortgages dropped, after the U.S. government took control of mortgage financing giants Fannie Mae and Freddie Mac last weekend.

The Primary Mortgage Market Survey from mortgage finance company Freddie Mac (FRE, Fortune 500) said that rates on 30-year fixed-rate mortgages (FRMs) averaged 5.93% for the week ended September 11, with an average 0.7 point discount. That’s down from an average 6.35% last week, and down from an average of 6.31% recorded during the same week last year.

“Interest rates for 30-year fixed-rate mortgages are down almost 0.6 percentage points over the past 4 weeks, which will help to spur home purchases and loan refinancing in coming weeks,” said Frank Nothaft, Freddie Mac’s vice president and chief economist.

“This means that the monthly principal and interest payment on a new $200,000 loan is over $76 lower than a month ago,” he addend.

A 15-year FRM averaged 5.54%, falling from 5.90% last week and 5.97% from a year ago.

The five-year adjustable rate mortgage (ARM) dropped to 5.87% from 5.97% last week, and 6.17% a year ago.

One-year ARMs averaged 5.21%, a slight increase from a week ago when it stood at 5.15%. That’s down from a year ago when the rate averaged 5.66%.

Under the terms of the bailout, the Treasury will buy mortgage backed securities owned by Freddie (FRE, Fortune 500), as well as Fannie Mae (FNM, Fortune 500), in order to boost liquidity in the mortgage market. The government may also loan the entities up to $200 billion