Houston Mortgage Refinance: Average rates for 30-year fixed mortgages drop to 4.32%, lowest refinance rates in decades!

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

Houston Mortgage Refinance Rates as of 09/02/2010
Mortgage Rates                                       Interest Rate  APR 
Texas Conforming Home Loans and FHA Home Loans: 
30-Year Fixed Mortgage Rates             4.375%     4.559%
30-Year Fixed FHA Mortgage Rates   4.500%     5.233%
15-Year Fixed Mortgage Rates              3.750%     4.069%

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