Houston Mortgage Refinance: Are Houston mortgage rates on the rise?

Houston Mortgage Refinance: Are Houston mortgage rates on the rise?

Even with the slight increase, Houston mortgage refinance rates are still low! Interested in refinancing before rates continue to increase? Give us a call! We’re a local Houston mortgage lender that can offer you the best mortgage rates with the lowest closing costs!

Houston: 713-589-2244      Austin:  512-996-8194     Dallas:  972-325-2120

http://moneywatch.bnet.com/economic-news/blog/market-update/wednesday-market-note-mortgage-rates-on-the-rise/433/

This morning, the Mortgage Bankers Association said rising rates are negatively affecting borrower activity. For the week ending December 3, mortgage applications declined, due to a slow down in refinancing. Refinancing activity fell 1.4 percent from the previous week and the four-week average for refinancing applications was down 10.9 percent.

Conversely, new purchase applications increased 1.8 percent from one week earlier. With a third weekly increase, new purchase application reached their highest level since early May. Because refinancing applications out number new purchase applications more than three-to-one, the overall number was down. http://www.mylendingplace.com/

The average interest rate for 30-year fixed-rate mortgages increased to 4.66 percent from 4.56 percent the week prior. The 30-year rate has been creeping higher for four straight weeks, and is now at its highest level since July. 15-year fixed-rate mortgage rates increased to 3.98 percent from 3.91 percent. Mortgage experts note that rates have continued to rise over the past week, so next week’s data could show another increase in mortgage rates.

If you’d like more information regarding a Texas refinance or a home equity loan please call us at 512-996-8194

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