Houston Refinance: Weekend Hangover On Rates

Houston Refinance: Weekend Hangover On 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.

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

Rates continued to rise on Monday morning trailing from Friday’s bad news. Like a never ending party, we didn’t get a chance to recover before the weekend hangover wore off…

The bond yields slow creeps up today as more investor’s losses confidence in the market. All the investors and traders got holiday plans to do, well so do the big banks and lenders. Lenders are more reluctant to get aggressive with the mortgage rates during the holiday season.

Why? Because they care about their hard workers.

Worse mortgage rates means slower loan production for the lender, so it gives the operations staff and management a breather and a chance to prepare for a new year. Unfortunately, that means we probably won’t see any significant changes in the mortgage rates at least until the next year. If anything, the rates would be increased to follow the market.

Currently, today’s market rates for no point refinance are:

30 years fixed – 4.875%  //  APR – 4.924%

15 years fixed – 4.25%  // APR – 4.312%

Right now is a time to do some research about how much money you are really trying to save a month. My suggestion is to figure that out and wait it out until next year to see how the market will change in the new year. Enjoy the holidays stress free.

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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