Houston Refinance: No News Is Good News

Houston Refinance: No News Is Good News

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

Well, there is this small news about the political protest in Egypt that being broadcasted on every news channel. Aside from the start of the riot(last Friday) when the stock market plunged due to investor’s loss of confidence, today has been good for the stocks. That means it was bad for the bond market. Well, not necessary. You see the bond market hardly changed in the recent weeks. But and this is a big but, it will likely to change in the coming weeks and it won’t remain static.

Although, we won’t know which direction the market will go, we do know that it will be harder and longer to have the rate drop rather than rise. It is way easier for the mortgage rates to rise if the investors flood the stock market. But it will definitely take a lot more time to see 30 years fixed drop to 4.5% because not all the investors will buy bonds. What we need this week is a definite stock sell off in the market. Maybe a dip of about -200 or -300 points. That should get the bond market engine running.

Today’s market rate with no points are:

30 years fixed – 4.875%  //  APR – 4.921%

15 years fixed – 4.25%  //  APR – 4.323%

Take your time in figuring out your goals in refinance or purchasing a home. What is your ideal monthly mortgage payment? What rate will get that for me?

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.

 

Austin Refinance | Dallas Refinance | Houston Refinance | El Paso Refinance