Houston Refinance: Volatile Market, Volatile Rates

Houston Refinance: Volatile Market, Volatile Rates

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.

So far this week, every day has been several changes in rate during the middle of the day and through the course of the week, prices of mortgage backed securities have bouncing back and forth between their highest and lowest levels. While I have no idea what is causing this wild changes currently, I do know that it is not a good time to lock the rate. Today was no different, at one point the rate hit a highest point of the week.

We have been riding along the low interest rate train for a while now. All of a sudden the rate is increasing at a rapid pace. We won’t know if it will keep rising up or easing off a bit. In other words, things could get bad just as fast as they could get good.  Now is not a time for risk taking in the mortgage market.

Today’s market rate is:

30 years fixed: 4.5% // APR – 4.623%

15 years fixed: 3.75% // APR – 3.814%

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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