Houston Refinance: Mortgage Storm Coming?

Houston Refinance: Mortgage Storm Coming?

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

In the late December until now, the mortgage rates have been fairly stable with only minor increase in the rates. Some people are waiting for the “I will refinance at 4.0%” while others are locking in their rates right now for 30 days.

Difference in opinions result in different actions. It may take time for the mortgage rates drop to 4.5% and requires a lot of patience, but it doesn’t take much for the mortgage rates to continue to rise further into the 5% range. Events to watch for this week that will affect the mortgage market are:

• President Obama will give the State of the Union Address on Tuesday night.
• The Federal Reserve will hold a two day FOMC meeting to discuss monetary policy and share an updated economic outlook on Wednesday.
• Trio of housing reports as well as Treasury auctioning off more $99 billion.
• Host of economic reports including a preliminary read on Q4 GDP on Friday.

Today’s market rate with no points are:

30 years fixed rate – 4.875%  //  APR – 4.922%

15 years fixed rate – 4.25%  //  APR – 4.314%

We just charge a flat $500 fee. Of course you could always buy down the rate with points. We offer those options as well.

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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