Houston Refinance: Mortgage Rates See Saw

Houston Refinance: Mortgage Rates See Saw

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.

If you live in Austin | Houston | Dallas please call Frank Zhu for your custom Good Faith Estimate.

Frank Zhu:  512-919-0154

frank@mylendingplace.com

The mortgage rates got a breather when the market opened this morning. The rates are better by about 0.125%, but before even lunch time, the rates just couldn’t hold its improvements and rate rose killing the improvement. Lenders were gladly to reprice the rates for the worse as they try to clear their loan pipelines and getting ready for the new year.

The investors are looking for a couple of news coming this week including mortgage applications, home sales, personal income and spendings, and new home sales. These news will have quite an effect on the direction of which the mortgage rates are going. Depending on your goals, whether buying a new home or refinancing your current home, it is important to figure out how much a month you can afford to take on a mortgage. Don’t chase the mortgage rates right now because of the volatility will drive you nuts.

Today’s market rate with no points are:

15 years fixed – 4.25%  //  APR – 4.312%

30 years fixed – 4.875%  //  APR – 4.924%

Rates have gotten worse since it was 2 weeks ago, but the rates are still at an all time low and it is still a good time to buy a home or refinance your home if you can justify the refinance.

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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