Friday, June 2, 2023

What Are Today’s Current Mortgage Rates – Is it Better to Get a 30 Year Or 15 Year Fixed Rate in TX

Today’s Mortgage Rates: (Texas)

30-year fixed rate 6.375% 6.606%

20-year fixed rate 6.375% 6.680%

15-year fixed rate 5.875% 6.252%

5-year ARM rate 5.750% 5.740%

Texas Jumbo Home Loan – Amount that exceeds the conforming loan limit of $417,000. Remember that a jumbo mortgage loan is a home loan that exceeds $417,000. Generally, if the client has sufficient credit, I’d go 80/20 or 80/15 to keep the first lien under $417,000.

However today’s jumbo mortgage rates are:

40/30 Fixed-Rate Balloon 8.250% 8.404%

30-Year Fixed 7.750% 7.913%

15-Year Fixed 6.625% 6.875%

Remember, good economic news drives mortgage rates up and bad economic news drives mortgage rates down.

Current Mortgage Rates * Mortgage Home Loan Refinance * Austin Dallas Houston Lubbock * Refinance Rates

For example, right after 9-11—the economy took a big hit. and mortgage rates when below the 4% threshold; Refinancing sparks the boom.

Recently, there have been many positive economic reports like .9% growth in GDP. So guess what mortgage rates did—they went up? Good economic news, mortgage rate hikes…

If you’re looking to buy or refinance a home, now is a good time because mortgage rates may continue to rise. We also help people refinance home equity cash outs on investment properties.

If you are looking to refinance an investment property or remove equity (cash out) from your investment home please complete this mortgage application.

Or call us at 512-996-8194 and discuss your goals. There is no obligation to speak with us and we will even send you a free copy of your credit report.

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