Houston Refinance: Big Week For Mortgage Rates

Houston Refinance: Big Week For Mortgage Rates

Contact me, Frank Zhu, and let me help you find the lowest rate in Texas when it comes to mortgage. I’m bilingual in English and Chinese. Give me a call at 512-919-0154 for your mortgage needs.

Happy holidays everyone! We have a big week coming up not just for mortgage rates but for the overall condition of our economy. At the start of this week, we have key manufacturing and construction surveys, consumer confidence and home prices indexes, and it ends of with Friday’s Employment Situation Report. Scattered in between we’ll get four QE2 open market operations and lots of political debates.

There is only one word that can describe the overall theme of our economy right now: uncertainty. It has been a volatile tug of war between bulls and bears. It makes the lenders unease and they just seem to raise the rates faster than they can lower them. During this time, it makes sense to expect volatile movements in between the recent high and low rates seen this month. With uncertainty in place, we just won’t know which direction the market will take.

So right now is a good time to shop for the rate that makes sense for you to even do a refinance. When rate dips to your goal rate, lock it in immediately! Don’t wait for “Hmm, I wonder if the rate will go down even more”. This will definitely screw with your head and you will be chasing the market instead of planning for the market, which as an investor will tell you, is always a bad idea.

Today’s market rate was a bit better from last weeks during Thanksgiving.

The current 15 years fixed no point rate is: 3.75% // APR – 3.812%

The current 30 years fixed no point rate is: 4.5% // APR – 4.621%

We also offer “no cost” refinance. Contact me, Frank Zhu, and let me help you find the lowest rate in Texas when it comes to your mortgage. I’m bilingual in English and Chinese. Give me a call at 512-919-0154 for your mortgage needs.

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