Houston Refinance: New Year, Same Volatility

Houston Refinance: New Year, Same Volatility

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

We are getting ready to have a new year, 2011. We don’t know what’s to come in 2011. How will the economy act? What about the job market? And mostly importantly, what’s going to have to the real estate and the mortgage rates?

Unfortunately, we can’t predict anything in the future, especially not in a market like this. Even the brightest economists can only analyze what had happened. But if it is anything like what we had in the last couple of weeks, there would be a lot of headaches and stress.

This week, the volatility of the market is again running wild. On Tuesday, the mortgage rates were rising unexpectedly throughout the whole day. Then the next day on Wednesday, the mortgage rates were dropping little by little throughout the day effectively cancelling out what had happened the previous day. And today, the first half of the day the mortgage rates were rising and then the second half, mortgage rates were again dropping. We ended the day unchanged.

Today’s no point market rate is:

30 years fixed – 4.875%  //  APR – 4.923%

15 years fixed – 4.25%  //  APR – 4.311%

With volatility in the market like this, it’s important to ask these questions to save yourself some headaches:

What rate do you need?

When do you need it by?

How well do you handle stress?

The rate might not recover to the way it was and it might be even worse than it is now. 2011 is going to be a year of change. Might be a change for the good or for the worse. Let us help you figure out what your goals are in 2011. We can help you decide which option makes the most sense.

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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