Houston Refinance: Start of a New Year

Houston Refinance: Start of a New Year

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

Today is the first day of the market for the year 2011. Stocks were off to a good start as DOW rose up as high as 140 points today. Mortgage market didn’t get a hot start but the rates did improve a bit through out the day. No one will know what will happen in 2011 for the mortgage rates.

I can predict that if the Fed doesn’t start another quantitative easing policy, the rates should be fairly stable this year with a bit of increase through out the year. But if the Fed does have another quantitative easing, who knows what will happen to the bond market. This will all depend on the investors’ confidence in America’s political and economical stand point.

Today’s Bank of America rates are 4.75% for 30 years fixed with 1 point. We offer the same rate at 4.75% for 30 years fixed with no point at market rate. We just charge a flat $500 fee.

Here are today’s market rates that we offer:

30 years fixed – 4.75%  // APR – 4.823%

15 years fixed – 4.25%  //  APR – 4.308%

As we turn a page into the new year, we still don’t know what will happen to the mortgage rates. Will it drop or will it rise again? One thing is for certain: the rates won’t stay still for long. Figure out what rate makes sense for you to refinance. Chase the rate, don’t chase the market.

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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