posted September 2, 2010
 Houston Mortgage Rates: Average rates for 30-year fixed mortgages drop to 4.32%, lowest refinance rate in decades!
http://finance.yahoo.com/news/Mortgage-rates-hit-decadeslow-apf-2452651798.html?x=0&sec=topStories&pos=2&asset=&ccode=
Mortgage refinance rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
The average rate for a 30-year fixed loan was 4.32 percent this week, down from 4.36 percent last week, mortgage buyer Freddie Mac said Thursday. That’s the lowest since Freddie Mac began tracking rates in 1971. The average rate on 15-year fixed loan dropped to 3.83 percent from 3.86 percent the previous week. That’s the lowest on records starting in 1991.
Rates have been falling since spring as investors have shifted money into safer Treasury bonds. That has lowered their yields, which mortgage rates tend to track. The low rates have fueled a wave of refinancing by borrowers. Refinancing is at its highest level since May 2009 and makes up almost 83 percent of all new loans, its highest share since January 2009. People seeking lower rates helped boost mortgage applications by 2.7 percent last week, the Mortgage Bankers Association announced Wednesday.
Whether you’re interested in mortgage refinancing or a new home mortgage loan, we’re available to help! We’re a local Houston mortgage lender that’s been helping people all over Texas! And.. remember we’re a “No Point” lender! Give us a call today!
Houston:Â 713-589-2244Â Â Â Â Dallas:Â 972-325-2120Â Â Â Â Austin:Â 512-996-8194
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posted August 27, 2010
Houston Mortgage Refinance: You don’t have to pay additional points for low mortgage rates!
Currently, Bank of America is offering 30-Year fixed mortgage rates at 4.87% with an additional 1.00% for closing costs. Charging additional points for closings costs in common practice with major lenders. You don’t have to pay additional points to get low mortgage rates! We’re a “No Point” lender! View our straight forward closings costs here!
Whether you’re interested in a mortgage refinancing, a new home mortgage loan or a home equity loan, we’re available to help! Give us a call today!
Houston:Â 713-589-2244Â Â Â Â Â Dallas:Â 972-325-2120Â Â Â Â Austin:Â 512-996-8194
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posted August 26, 2010
Houston Mortgage Refinance: Should you let the bank escrow and have higher closing costs or self-pay them and reduce your closing costs?
When you refinance, you will get a refund from your current mortgage company for this year’s escrow balance. Normally, you get this 30 days after your new loan starts or the old loan stops. However, if you escrow the new loan and want to roll closing costs AND pre-pays into the new note, your loan amount will be higher. Therefore you’ll have a higher payment. Another option is coming to closing with your new escrow.
It’s important to remember why you’re refinancing in the first place… to lower your payment and/or principal interest as much as possible.
My suggestion is do a private escrow and get the best of both worlds. Consider refinancing without a bank escrow. Go to your bank and open a savings account that doesn’t have a debit card attached to it and have them auto transfer your monthly taxes directly to this property-tax saving’s account. This way you don’t have to raise your loan amount and since the bank is going to deposit your monthly taxes into a stand-alone account, you’ll never have to worry about your tax bill at Christmas time! Lower payment, never worry about your taxes, no stress.
Interested in taking advantage of the record low mortgage rates? Do you have unanswered mortgage refinance questions? Give us a call today!
Houston: 713-589-2244Â Â Â Â Austin:Â 512-996-8194Â Â Â Â Dallas: 972-325-2120
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posted August 26, 2010
Houston Mortgage Refinance: Today’s Houston mortgage refinance rates
Today’s mortgage refinance rates are still at historic lows. With Houston mortgage rates this low, refinancing could save you on your monthly payment or lower the term of your loan which will get you out of debt quicker.
Whether you’re interested in mortgage refinancing, a new home mortgage or even a home equity loan, we’re a local Houston mortgage lender that can help you, today! Give us a call today!
Houston:Â Â 713.589.2244Â Â Â Â Â Austin:Â 512.996.8194Â Â Â Â Â Dallas:Â 972.325.2120Â
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